Hope Industrial Park to Benefit from $4.6 Million Investment in Arkansas’ Site Development Program
Hempstead County Economic Development is excited to announce the AEDC Site Development Program’s further infrastructure development investment in Hope Industrial Park. This is critical to our HCEDC strategic site development plan. We are grateful for AEDC and their investment in Southwest Arkansas. said Anna Lee Powell HCEDC President.
Governor Sarah Huckabee Sanders recently joined the Arkansas Economic Development Commission (AEDC) to award 13 communities with $10 million through the Arkansas Site Development Program. This funding will be used to enhance industrial sites across Arkansas, increasing their readiness for job-creating economic development projects.
The communities receiving funds include Arkadelphia, Berryville, Hope, Jonesboro, Little Rock, Malvern, Monticello, Morrilton, Newport, Prescott, Searcy, Stuttgart, and Texarkana.
“The sky is the limit for Arkansas’ economy when our government and private sector work together to grow investment and jobs,” said Governor Sanders. “
Under Governor Sanders’ leadership and in partnership with the Arkansas State Legislature, AEDC developed and announced the Arkansas Site Development Program in June 2024. Eligible recipient locations are industrial sites of at least 30 contiguous acres of land, listed on the Arkansas Site Selection Database, and owned or optioned by the applicant.
“Ensuring that our communities have company-ready sites is critical for Arkansas’ economic success,” said Secretary of Commerce Hugh McDonald. “The Arkansas Site Development Program has been a model of collaboration between Governor Sanders, the Arkansas General Assembly, the Arkansas Department of Commerce, the Arkansas Economic Development Commission, and local stakeholders to build a program that will set a course for future success across our state.”
AEDC received a total of 28 applications for the Arkansas Site Development Program, totaling $44,646,370.37 in requested funding.
“Strong communities with competitive industrial sites are essential for winning economic development projects, and the Arkansas Site Development Program will play a major role in equipping our state’s communities to win,” said Clint O’Neal, executive director of the Arkansas Economic Development Commission. “The Arkansas Site Development Program is the first program of its kind in our state, and it is an important step that will help us continue to secure economic development projects in the years to come. This program would not have been possible without the support of Governor Sanders, the Arkansas General Assembly, and the local communities that applied for funding – we appreciate their support and look forward to continued success.”
The funds can be used for a range of site development projects, including the extension and improvement of public infrastructure to the site; right of way acquisition; easement acquisition; soil borings and analysis; construction costs for site improvements, including drainage improvements, easement, dozer or dirt work, grading, site mitigation, and site rehabilitation; due diligence study costs; and other site development-related activities deemed necessary by AEDC to improve a site’s competitiveness.
See the Arkansas Site Development Program awards below:
- Hempstead County Economic Development Commission – Hope, $4,602
- City of Prescott-Prescott, $698,845
- AR-TX Regional Economic Development Inc. (REDI)-Texarkana, $2,000,000
