Shelley Short, CEO of the Arkadelphia Regional Economic Development Alliance, presented the Clark County Quorum Court with a report on economic development activities for the final quarter of 2023.
Short’s PowerPoint presentation included updates on various items spearheaded by the Alliance, Arkadelphia Chamber of Commerce, and Economic Development Corp. of Clark County. In sum, Short reported:
• A recently created consortium of local industrial investors held its first meeting. Most companies had representation at the meeting.
• Hostess began production at its factory-turned-bakery in Gum Springs.
• The Alliance continues marketing through LinkedIn, Facebook and videos.
• The Arkadelphia chamber renewed 48 memberships, welcomed six new members and held four ribbon cuttings.
• The chamber also launched Connect@4 and Accelerate meetings, which covered business-related topics and provided details about the upcoming solar eclipse event on April 8.
• The 2023 Chamber Banquet was held.
• Community events included the Arkadelphia Festival of the Arts; Main Street Trick or Treat; South Central Connect’s five-year anniversary; the dedication of Baptist Health’s new MRI; and Yule Love Christmas in Arkadelphia.
EDCCC financial report
In 2023 the tax-funded Economic Development Corp. of Clark County took in $2,076,136 in revenue. Breaking that figure down: $1,741,474 in sales tax receipts; $27,499 in rental, lease and other income; $307,162 in interest income.
The EDCCC spent $835,466 in operating expenses in 2023. Breaking that figure down: $605,070 in contract/admin/marketing; $14,906 in accounting fees/audit; $10,016 in legal fees; $1,265 in insurance; $63,000 in incentive payments; $59,757 in development; $79,084 for an EDA grant; $2,368 in meeting expense and miscellaneous. The EDCCC had a net income of $1.24 million.
At year’s end, the EDCCC reports $13,015,353 in total assets and $7,205,213 in total tax funds available. Liabilities include $250,000 in a matching grant to Clark County for the Caddo River Bridge and $250,000 in prior tax commitments.
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