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The secret to landing high-impact jobs and investment isn’t golf outings anymore, it’s speed, trust, and a clear plan. We sit down with Clint O’Neal, executive director of the Arkansas Economic Development Commission, to unpack how companies really choose locations and why Arkansas keeps showing up in final rounds against bigger states. From billion-dollar data centers to six-figure steel jobs, Clint shares candid insights you won’t hear in a press release. We break down the four gates every...
The secret to landing high-impact jobs and investment isn’t golf outings anymore, it’s speed, trust, and a clear plan. We sit down with Clint O’Neal, executive director of the Arkansas Economic Development Commission, to unpack how companies really choose locations and why Arkansas keeps showing up in final rounds against bigger states. From billion-dollar data centers to six-figure steel jobs, Clint shares candid insights you won’t hear in a press release.
We break down the four gates every project must clear: real estate, workforce, cost and incentives, and energy. Expect specifics: how tax cuts and persistent budget surpluses signal long-term stability, why executive-to-executive conversations beat glossy brochures, and the truth about losing or winning deals based on site readiness. Clint explains the incentives toolbox, including the Governor’s Quick Action Closing Fund, Create Rebate, property tax abatements, and training grants that build portable skills for Arkansans. He also tackles perceptions head-on and shows how quality of life in Northwest Arkansas converts visitors into founders and long-term hires.
Zooming in on NWA, we talk momentum in food and beverage, consumer goods, aerospace and defense, and retail tech. Clint makes a strong case for more spec industrial space, 300,000 square-foot shells with 30-foot clear heights, to capture tenant demand and speed to market. We also explore a proposed constitutional amendment enabling flexible economic development districts, giving local leaders Texas-like tools to finance infrastructure and catalyze complex projects. The throughline is simple: when communities, universities, utilities, and employers row in the same direction, growth compounds.
If you care about site selection, industrial development, or investing in a market on the rise, this conversation is a field guide. Follow the show, share it with a builder or operator who needs real numbers, and leave a review with the one factor you think decides most projects. Your feedback helps us bring more candid conversations to your feed.
Northwest Arkansas's go-to show for real estate agents, brokers, and investors looking to zoom in on the local market. Join us as we sit down with the leading voices in the area to hear how they're investing in NWA.
Hosted by (in order from left to right) Brian Wagers, Zach Stanley, and Brandon Still.
SPEAKER_03: Welcome to Northwest
Arkansas Investing Podcast, your
go-to source for real estate
investing in Northwest Arkansas.
SPEAKER_01: With your seasoned
investor just starting out, we
bring you expert insights,
market trends, and practical
strategies to help you build
wealth through real estate.
SPEAKER_00: From buying and
selling to property management
and long-term investment
planning, we cover it all so you
can make smart, informed
decisions in this fast growing
market.
Let's dive in.
SPEAKER_03: Welcome to Northwest
Arkansas Investing Podcast.
We have today with us a very
special guest, Clint O'Neill.
He is the executive director of
Arkansas Economic Development,
of the Arkansas Economic
Development Commission.
We're super happy to have you,
Clint.
Thanks for taking your time.
You drove up from Little Rock
today, correct?
Is that right?
That's right.
I'm really looking forward to
this podcast episode because I
think it gives some good
parallels in real estate.
We have a lot of people from
across the country that are
looking that will come to this
podcast and be like, hey, let's
get some info on really
Northwest Arkansas.
But you have a wide knowledge of
the state, and I think our
listeners are going to be really
um looking forward to that.
So thank you.
Um can you just can we just
start off with like give us a
little bit a 30,000-foot
perspective of your background,
um, what Arkansas Department, uh
Arkansas Economic Department of
Commission does, um, and just
kind of we'll lead in from
there.
Sure.
Yeah.
SPEAKER_02: So, you know, I got
my start um a few years out of
college, actually starting with
the Arkansas Economic
Development Commission.
Uh, we can call it AEDC for
short from now.
Yeah.
But uh, I was a project manager
on our business development
team.
And what that means is basically
a salesperson.
I mean, we're looking at
competitive opportunities,
whether it be an existing
company considering expanding in
Arkansas or considering
expanding at another one of
their locations out of state,
yeah.
And sometimes business
attraction opportunities.
So um, a lot of times companies,
regardless of their existing
footprint, they're always
evaluating their real estate
needs, evaluating their
workforce needs, looking out 10,
20, 30 years into the future and
thinking where are the great
states, where are the great
communities for us to do
business?
Yeah.
And so a lot of what we do at
AUDC is marketing.
It's elevating the image of what
it's like to live and do
business in Arkansas.
It's a little bit on the policy
side, working with the Arkansas
General Assembly of how do we
best create a toolkit to
incentivize companies to be
successful and to continue to
invest and create jobs in
Arkansas.
So as a project manager back in
the days, I mean, this was um we
we had some technology, but this
is going on close to 20 years
ago.
A lot of it was getting in these
requests for information.
I need a 100-acre site with rail
service, or I need a 80,000
square foot building with at
least 25-foot ceilings.
You know, whatever it is, we're
tackling the real estate needs
of clients.
A lot of times companies will
outsource their location
analysis work to site selection
consultants.
So there's a group of maybe 200
or so site selection consultants
around the country that are
actively working with states and
communities on behalf of their
clients.
Um, kind of the full range of
real estate workforce analysis,
business cost analysis, uh,
incentives negotiations.
And so we just kind of walk down
that pathway of are we meeting
their needs, real estate?
Are we meeting their needs from
workforce, uh, the reputation,
the engagement with workforce
development institutions,
community colleges, four-year
universities, K-12 system, the
business cost.
Uh, you know, we've cut taxes
three times in the last two and
a half years under Governor
Sanders' administration.
Uh, taxes were cut.
Uh before that, in the Hutchison
administration, we have done
major things to create a better
business climate in Arkansas
over the last 10 years, and
that's being recognized.
Um so as a project manager on
the team, I was given the
opportunity to engage with the
primary point of contact,
whether that be the company or
the site consultant, and they're
usually fairly upfront.
I'm looking at five or six
states, you're one of them, and
here's what it's going to take
to keep from getting eliminated
in this next round.
So you do a lot of desktop
analysis and information
exchange, all with the hope that
you get a site visit.
Uh site visit meaning uh
executives or uh, you know, the
the folks working on the
project, they come to town,
you're whining and dining, but
it's very information exchange.
I mean, the economic development
business, it's it's always going
to be a relationship business.
People want to work with people
that they trust, that they like,
but it's very much a data-driven
business.
Uh, you know, a little bit
before I started, there was a
lot more golf involved.
You know, I'd take you out to a
golf course, you know, let's
let's sign a deal.
SPEAKER_03: That's what I'm
talking about.
SPEAKER_02: Uh yeah.
I mean, unfortunately, those
days are gone.
Yeah.
Uh, but uh it's it's definitely
a combination, building
relationships, but also
supplying data, all with the
hope of you know, you're you're
getting down to that final round
of negotiations with incentives,
and then a company says this is
the place we want to do
business.
So whether, again, uh number
one, what we value is the
companies that already do
business in Arkansas.
We want them to be happy and
satisfied, and yeah, when they
have opportunities to grow, we
want them to do that in
Arkansas.
Uh always promoting Arkansas is
a good place to do business, and
then working with entrepreneurs.
But yeah, my start was as a
project manager, uh, took a job
in Kansas City working for an
organization called the Missouri
Partnership, doing exclusively
marketing and business
attraction.
Did that for about seven years.
Uh, that's a model that the
state of Missouri has uh to
outsource their state level
recruiting to a public-private
organization called the Missouri
Partnership.
And then back in 2018, uh came
back to Arkansas to be the
deputy director at AEDC and uh
was promoted to executive
director by Governor Sanders in
2023.
SPEAKER_03: That's great.
So so basically what you're
saying is you and correct me if
I'm wrong, you're like an
ambassador for the state of
Arkansas and you're going out
there.
So like, and this is from my
very rookie knowledge um on the
topic.
Like if come and go was looking
for to add three or four new
spots and they're like, hey, you
know, we're kind of up in the
air between a few states, like
that would be your conversation.
Is that right?
SPEAKER_02: Yeah, it it could
be.
It's it's it's more primarily on
what we call basic industries
that create primary jobs.
So I'll explain that by you
know, companies that provide a
good or service that they're
gonna export out of the market,
import money.
So we're not necessarily working
with restaurants, retails, small
service shops.
It's more corporate
headquarters, technology
centers, manufacturing,
distribution, those that are
taking a look around the
country.
Uh some do an international
search.
They may they may be looking at
the USA versus Mexico on where
to add a production facility.
But for the most part, our
competition in these projects
are neighboring states.
Uh maybe it's a company that
already has manufacturing on the
West Coast and the East Coast
that wants something in the
middle part of America, or
there's a distribution center,
and just the the need for that
is in a three or four state
region in central part of the
country.
But yeah, a lot of times I would
say a a big majority of our
projects are in manufacturing,
and a lot uh of the other ones
are, you know, whether it be
data centers or distribution
centers or or some sort of
office setting.
Yeah.
SPEAKER_00: How much would you
say your position is relocation
for companies, and how much I
guess would be startups, like
you said, or or new companies
looking to make beach supplies?
SPEAKER_02: Yeah, the vast
majority are established
companies.
Uh, you know, maybe they have a
network of facilities and
they're they're growing, they're
looking to add one more.
Uh we certainly have some
relocations.
Um, you know, there are certain
states that are just uh let's
take let's pick on California
for a minute.
You know, beautiful state.
Uh absolutely, you know, uh
wonderful state in terms of the
talent, in terms of the natural
landscape.
And uh they've just had a run of
governors who have tried to uh,
you know, take this regulatory
mindset.
Yeah.
Whereas a lot of southern
states, we take a mindset of
we're gonna champion business.
Yeah.
You know, we welcome business,
uh, don't see ourselves as a
regulator, don't see ourselves
as uh how can we take advantage
of companies and tell you that
it's a privilege to do business
in our state.
So you know there are companies,
uh California, other states that
are fleeing.
I think that we'll see it uh in
New York uh soon.
Uh we already have.
I mean, you see memes of like
the Statue of Liberty on the
back of a trailer going towards
Florida, you know?
I mean, and and uh we want that
uh trailer with the Statue of
Liberty to Arkansas Arkansas.
Uh so you see some relocations,
you see some uh, you know, kind
of onshoring of uh companies
trying to get away from um
manufacturing in China, or at
least kind of a a uh a China
plus one type policy where
they're not uh only exclusively
manufacturing in China.
So you you see some of that, um,
but I think the large majority
would just be large established
companies that uh or growing
companies that are looking to
continue to do business here.
Um I'm I'm in town today because
we had uh an expansion project
this morning in Fayetteville
with packaged packaging
specialties, started with um
entrepreneurs 50 years ago that
started a company in
Fayetteville.
Uh since then they've they've
branched out, have locations in
two other states, but as they're
continuing to grow, they
announced a$24 million
investment, 100 new jobs here in
northwest Arkansas.
Um so and so that that's kind of
the bread and butter.
SPEAKER_00: Yeah.
What do you think is like the
biggest win that you've seen in
your career for the state of
Arkansas, or maybe a few of the
biggest wins?
SPEAKER_02: Yeah, I mean, great
question.
Uh, you know, by capital
investment, um, just a few weeks
ago we had uh the Google Data
Center announcement in West
Memphis.
So they announced a$4 billion
project.
Uh that that certainly uh kind
of came out of nowhere in the
national conversation with data
centers and where that's going.
Um in the steel industry in
northeast Arkansas with uh Big
River Steel and the acquisition
of of U.S.
steel of BRS and now the
partnership with Nippon Steel
from Japan.
I mean, billions and billions of
dollars um from a county that
used to be one of the nation's
largest exporters of cotton, now
the largest cotton or the
largest steel production county
in America.
Wow.
Mississippi County.
And uh so whether it's steel in
northeast Arkansas, whether it's
uh timber and forestry products
in South Arkansas, whether it's
around the state, um, you know,
aerospace and defense, food and
beverage, uh the technology
sector, certainly seeing a lot
in a lot of projects.
I mean, this is going on around
the country, certainly Arkansas.
Just, I mean, the the investment
figures are just staggering.
Right.
I mean, it used to be$10,$20,$50
million project was was
incredible.
Yeah.
And uh kind of a once in a every
couple month type opportunity.
Yeah.
And now just seeing billion
dollar opportunities on on a
fairly regular basis.
SPEAKER_01: I feel like I see
you out of ribbon ribbon cutting
here in northwest Arkansas every
every couple weeks.
Yeah.
$24 million in Fayeville,$27
million in Springdale,
Keytronic, mostly manufacturing.
I think uh that Keytronic
Springdale one was another
example of a manufacturer that
is expanding its arm in NWA.
Is that what you're seeing a lot
of in NWA on your side, like
manufacturers expanding here,
you know, versus these large, it
seems like uh$25 million to$50
million investments.
Yeah, you're right.
SPEAKER_02: We we've seen a lot
of projects in that size and
NWA.
You know, we're working with the
Northwest Arkansas Council on
some initiatives they were uh
vitally important in this past
legislative session, helping us
pass uh some incentives and and
some uh some policies around
industrial development
authorities.
Uh we've got some uh a
constitutional amendment uh a
vote that'll go before the
people next November for what's
called economic development
districts.
Happy to get into any of that.
But you know, one thing that
Northwest Arkansas is lacking
from an industrial standpoint is
large industrial sites.
If we had large industrial sites
here in NWA, we'd see a lot more
successful um large industrial
projects.
So, you know, so thankful that
we do have uh some of the sites
and some of the existing
buildings that we have to be
able to recruit these companies
and to be able to have these
expansions.
SPEAKER_01: Hard to find land
for those, but I'm at I mean
with NWA so like you know, uh
dense near these city centers,
you know, I'd say it it seems
like they'd have to go kind of
outside the city to get
something, you know, for the the
prices.
SPEAKER_03: I think they I mean
it's just it's tough to find
anything for I mean, but if you
mean you start talking about
millions and millions of
dollars, then uh ten million
dollar piece of land becomes a
lot less of a of a hurdle.
Um I I did have a question like
on like a macro scale.
Do you when you're talking to
all these people across the
nation, do you ever have to ever
have to overcome this perception
of Arkansas, like hillbillies
and tractors and majority poor
and like moonshine and stuff?
Like is that a something you
have to overcome?
SPEAKER_02: Well, so I I would
describe it like this there's a
there's a small percentage of
people on one side that are not
from Arkansas, but they have an
incredibly uh favorable uh
outlook on Arkansas.
Maybe they've been on vacation
here, maybe they've done
business here.
Just like that here.
Um so they say, Yeah, I love the
times I've I've gone to
Arkansas.
I understand you guys have
something very special there, a
small state.
You work well together, you're
known as the natural states,
beautiful state, yeah, you know,
uh great people, hardworking
people.
And then on the other side, you
have a very small percentage of
the population that fits that
description of they're
uneducated.
They have these stereotypes that
have been portrayed upon
Arkansas.
When I was moving back from
Kansas City, I had friends that
would say, Hey, make sure you go
buy some shoes before you go
back home, you know, because
they're not gonna be available
in Arkansas or no smartphones.
The uh, you know, the toothbrush
was invented in Arkansas, you
know that because otherwise it
would be called the toothbrush.
Yeah.
And so you know, you got
ignorant people on that side.
But what you have in the middle
is this large you know,
population of people that just
you know, they would give it a
blank slate, and I would say
it's neutral to fairly positive.
Okay.
I think from where we sit, if
you were to go around and ask
Arkansans uh where do you live
in the United States?
Do you live in the South?
Do you live in the Midwest?
Do you live in the mid-south?
Uh, there's not a consistent
answer.
Uh but there's there's some
consistency just in the culture
of kind of the heartland of
America where people care about
one another, they're gonna talk
to their neighbors, they're
gonna engage, uh, they're gonna
work hard.
And so I think that we, along
with our neighboring states,
have this favorable outlook from
a quality of life, from uh the
way we treat one another, the
way that we work, the way that
we welcome newcomers, the way we
welcome business.
And uh and so I think you see
that from around the world.
We do a lot of international
trips, a lot of companies out
there from other countries that
are looking in the United States
where for where to do business.
And we start with where we're at
on the map and the advantages of
doing business in Arkansas.
And and uh and just for fun, a
lot of times we'll ask people,
what do you know about Arkansas?
Yeah, that's a great and so uh
Walmart's headquartered in
Arkansas, Bill Clinton's from
Arkansas.
And a lot of times that those
are the two, yeah.
Yeah.
But uh no, it's a it's a lot of
fun engaging because yeah, uh
90% of the conversation are with
those people that just give it a
blank.
SPEAKER_03: Give it a blank
slate.
Yeah, I saw uh I was doing some
research earlier too.
You you have you been going over
to Asia recently?
Yes, uh what tell us a little
bit about that.
SPEAKER_02: Yeah, we uh we've
done three trips to Asia within
the last two years.
So we've had uh international
offices for many years.
Office in Europe and an office
in Asia.
So uh Neil Jansen's our director
of our Asia office.
He's actually in Arkansan, grew
up in Arkadelphia, moved to
Japan about 20 years ago,
married a Japanese woman, um,
speaks the language fluently.
I mean, it's it's pretty uh it's
it's a sight to see for uh for
you know he and I to walk into a
room and for them to say,
Where's your translator?
And uh I'm like this guy right
here.
Country boy right here.
Uh so you know, and and even
dating back before Neil, we've
had um uh a presence in in Japan
specifically for a long time.
And that's really helped us.
I mean, Japan has been such a a
big part of the United States
economy.
You saw a lot of uh companies uh
with uh ownership in Japan here
in Arkansas.
Recently, we've really tried to
engage more with South Korea.
You see, Korea is just a
target-rich environment that
will continue to have more and
more foreign direct investment
projects.
And so um it had been a while
before we really had a presence
in Korea or many trips to Korea.
But Governor Sanders made a trip
in March of 24 and uh really
opened up a lot of doors.
Yeah.
I mean, she's just known
internationally, easy to open
doors, meet with CEOs of large
Korea conglomerates.
And so uh we actually opened an
office in Korea.
So we have uh representation in
Korea, uh, a firm called
Interlink that uh has two of
their colleagues that represent
Arkansas, meaning they just go
out and talk to companies in
Korea about the advantages of
doing business in Arkansas,
generate leads for us to follow
up on.
And so this last trip was Japan,
Korea, and Taiwan.
Uh Taiwan kind of also fitting
that category of one that it's
been many years since an
Arkansas state official has been
to, but uh just exploring the
opportunities there.
SPEAKER_03: So basically you're
you're turning up basically warm
leads going over and having
conversations about Arkansas.
Right.
Okay.
That that that's great.
Um I I would say in the last
five to ten years, what what
have you seen has been the
biggest shift for for your I
mean, you've been in this
business for 20 years, 20 years
now.
So I would say last five to ten
years a lot's happened.
Um what what would you say is
the biggest shift in like how
you do business?
SPEAKER_02: Well, um, you know,
I think some of the industry
sectors change in terms of of uh
the the the priority that's
placed on how that shapes up.
I think um, you know, just in
terms of how we do business, a
lot of it's the same in terms of
companies that are looking for
states that have great public
policy.
People that care.
And so I think uh you know, real
strength to Arkansas is the way
that we collaborate, uh the way
that uh within a phone call or
two, uh dating back certainly
the the past couple
administrations and even ones
before, just the accessibility
of the governor's office, of our
office, uh connections with
whether it's uh a mayor, a
county judge, um, you know,
economic development leaders,
construction companies, utility
leaders, uh people are rowing in
the same direction and they want
to get things done.
Um so technology has advanced
the industry certainly, but
there is no less uh relational
component than there ever has
been, which uh, you know, is
good for those of us that uh
probably won't get their jobs
taken away by AI.
I mean, yeah.
Um I think it's technology tools
like that are certainly going to
to help the industry and you and
you have to embrace that.
But uh yeah, when I first
started, uh a lot of what we
would do we had this big table
in the middle of the business
development section, and we were
opening up three ring binders
and filling it full of papers
and taking it down to the FedEx
office, yeah.
And uh, you know, mailing these
50-pound boxes of uh just full
of maps and and brochures and
booklets and uh and and and the
and it's just uh the speed
that's expected is uh is has has
gotten to be uh just you know
incredibly tight timelines.
Um you know, from hey, in the
next month or so, if you could
mail me this booklet, we're
gonna start to look at real
estate to um you know it'd be
nice to have it by the end of
the day, but if you could send
me just some links, some
information in the next two or
three days, we're gonna get
started.
Right.
And um so but yeah, we've seen
industries like data centers pop
up, um seen opportunities uh
like I mentioned in the steel
industry and um I was sorry to
butt in, but you when you're
competing all the time with
Tennessee.
SPEAKER_03: I mean, you're we're
technically in competition with
Tennessee, Alabama, Louisiana,
Texas, Oklahoma, Missouri.
Um what would what would what's
your you know, and when I was in
sales, I called it blocking the
exit.
So I'm like pre-thinking of
like, you know, what does this
state have over us?
Like what do you see the most
time when somebody decides to
make a decision for another
state over ours?
Or like like like what I or or
you could flip that and say,
what do we have over another
state that helps you win a lot
of times and and arguments and
not arguments, but when you're
pitching Arkansas, what what's
that thing that helps you for
our state over our competitors?
SPEAKER_02: Yeah, I think if you
know if you were to put it in a
few major categories, category
of real estate, category of
talent and workforce, category
of business cost and incentives,
and more and more these days,
this category of energy
capacity.
Um, do you have the power uh
that we're gonna need for this
large manufacturing facility or
or whatever it is?
And so if you just go step by
step, a lot of times we we will
get eliminated in the early
stages of a project because we
don't have the real estate.
And so if you're coming in
looking for, let's take like the
Ford Blue Oval project that went
to the Memphis mega site uh
years ago, uh not that many
years ago.
Completing construction, getting
up and going 3,500 acres, all
infrastructure to the site.
The site was owned by the state
of Tennessee.
Um if someone were to ask, why
didn't Arkansas win that?
Well, that's a no-brainer.
We don't have a 3,500 acre site
that has you know one ownership,
clear pathway to acquisition,
yeah, all infrastructure.
Uh we really struggle in that
area.
In fact, I mean, maybe statewide
we have three or four sites of a
thousand to fifteen hundred
acres.
Acres.
Wow.
Certainly nowhere close to 3,500
acres.
And so that's something that we
know, something that we're
working on.
We have an Arkansas site
development program,$50 million
to help strengthen
infrastructure in sites that are
owned by municipalities or
economic development
organizations.
But when you get eliminated
early on in a project for
something like that, at least
it's clear and you know.
There are projects where you're
just simply not on the radar
screen and you wish that you
were.
And maybe it's because of those
perception issues.
Or frankly, a lot of times it's
just population issues.
There are companies where if
they're going to add 200 jobs,
they're going to have the
confidence, okay, in a market
like Northwest Arkansas or or
you name it, several Texas,
Canada, Leonardo, Jonesboro,
several around the state.
200 jobs that's manageable,
that's doable.
If you have a project that's
2,000 jobs, you might be tempted
to say, um, now Arkansas's a
small state.
We're going to look at the
Dallas region.
We're going to look at the
Kansas City region.
We're going to look at um some
of the larger regions, and we're
just going to cut out small
states because we don't have the
confidence that we'll be able to
find that many people.
Immediately off the table.
Yeah.
Immediately off the table.
Yeah.
Um, it's ones where you get
further and further into the
project, and uh sometimes you
know, sometimes you don't.
Uh, you know, I always love it
when companies or site
consultants will take the time
to debrief and say, you know,
the presentation done by your uh
community college leaders, it
fell short.
You need to work on that.
Like, wow, that that hurts.
But great feedback.
Can't get better if you don't
know.
We'll take that back.
Uh sometimes it's you simply did
not put the level of incentives
on the table that some other
states did.
That's something for us to
evaluate.
Where are we at from a public
policy standpoint, from what we
have in the in the economic
development toolbox?
Are we using what we have?
Uh should we have gone a little
bit more aggressive?
I mean, we're always looking at
the cost-benefit analysis, the
return on investment type
figures.
Yeah.
Um yeah, somewhere I, you know,
it and and a lot of times it's
uh it's a combination or you
know, the most frustrating when
it's uh they just had a gut
feeling about somewhere else and
they they won't really give you
that feedback.
Yeah.
SPEAKER_00: What are some
incentives that I mean you can
be general here talking about
that that a lot of states are
out there offering in Arkansas
to be specific to a business to
try to attract them, I guess.
SPEAKER_02: Yeah.
So you've got the incentives in
the categories of upfront cash.
Uh so we have what's called the
governor's quick action closing
fund.
And so um, you know, you could
think of it as a cash grant with
callbacks or a forgivable loan
that can be forgiven with job
creation.
Okay.
So as stewards of taxpayer
dollars, we can't just go around
handing out bags of cash.
Uh and we never want to have an
adversarial relationship with
companies down the line.
So upfront cash, and and most
states would structure it like
this.
They would say, okay, we're
gonna give you X number of
dollars, let's call it$10,000
per job.
And so if you commit to X number
of jobs and we give you$10,000
per job, and we have testing
dates set up, if three or four
years from now you've created
half the jobs that you committed
to, we're gonna expect half the
money back.
And so there's legal agreements
there.
That's why sometimes it's almost
easier just to call it kind of a
forgivable loan.
You can pay us back in money or
you can pay us back in jobs.
We would rather you pay us back
in jobs.
Yes.
That's what we're here to
facilitate.
So a lot of times that goes for
infrastructure.
If uh if a company finds a site
uh but still needs an extension
of water or sewer lines, or or
sometimes the turning lane from
a road, or or sometimes we'll
we'll get creative with the
definite definition of
infrastructure, but there can be
upfront cash.
We have a program called Create
Rebate that's a cash rebate at
the end of each year giving a
check as a percentage of total
net new payroll up to 10 years.
It's uh it's a program that's
performance-based.
There's there's no concern about
um any kind of clawbacks, just
if you uh uh only performed up
to half of what you committed,
you only get half the money that
you know was on the table.
Uh programs like that, and then
just ways of reducing the tax
burden.
So income tax credits, uh, sales
tax refunds, uh, a big one at
the local level is property tax
abatement.
So if uh if a company is
investing really as low as five
or ten million or more, it's
worth it to go through this uh
what's called ACT 9 bonds.
A company would hire a bond
attorney and go through this
system of achieving property tax
abatement through the bond
program, which a lot of times
can be a win-win.
Uh communities in Arkansas can
abate up to 65% of property
taxes for up to 30 years.
And most community leaders are
going to look at that on a
sliding scale.
If this is a project with an
absolute huge investment, a lot
of jobs, very competitive, may
offer the top range of that.
And then if it's uh somewhere
that's a solid single or double,
maybe a maybe a 10-year
abatement, 50%, maybe up to 65%,
something like that.
But it's uh not taking anything
off the tax rolls, um, but just
for a new project where new
taxes are going to be added to
the tax rolls, a little bit of
property tax abatement there.
And then and then training
grants.
Yeah, that that's one of our
favorite investments.
Um to us, it's always worth
investing in Arkansans.
Um if we're investing in
training Arkansans for
customized skills of one
employer, even if they leave, uh
they've got those skills,
transferable skills, and so uh
always want to be generous with
our training funds.
SPEAKER_03: Uh, do you do you
take a lot of pride in these two
stats?
Um Arkansas being number 12 in
area developments and 2024 best
states to do business, and then
number 10 for economic outlook
in ALEC's rich states, poor
states.
I mean, I feel like you would
probably have to do a lot with
those.
SPEAKER_02: Yeah.
Yeah.
So, you know, um Area
Development One is one where we
were actually 18th the year
before.
So we certainly take pride in in
how that uh went from 18 to 12.
You know, there are so many
publications and ranking
agencies that uh sometimes have
pretty wild methodologies.
Yeah.
And so we're like, you know,
interview two people.
Right.
Yeah.
So so we're we're top ten in
some rankings, we're bottom ten
in some rankings, and and the
way that we handle that is every
time we're bottom ten, we just
don't mention those.
Yeah.
When we're when we're top ten,
uh we shout it from the rooftop.
Yeah, exactly.
But no, we we try to look at the
methodology because there's
certain things that you can
affect with with the Alec, for
example, uh, I think the members
of our General Assembly should
be very proud.
Just from the public policy
side, the the tax cuts, the new
incentives that we've passed,
the business friendly outlook of
our legislature has led to
rankings like that and and led
to recognition by companies,
yeah.
Confidence to expand.
And so, yeah, it's it's always
better to uh be be ranked more
favorably, but um, sometimes,
you know, it's just kind of
based on the methodology and
what you can control.
SPEAKER_03: When a big company
is coming in to to Arkansas, how
how much how much or little red
tape is there on I and this is
for me not really having any
knowledge on it from a state
level of like, hey, we're coming
to this area, like is it
incentive is Arkansas
incentivizing as far as red tape
goes for a company to come in?
Would you say yes or no, or kind
of in the middle or normal?
SPEAKER_02: Well, I'd say we're
um, you know, we should we
strive to be the best uh when it
comes to you know cutting out
red tape, providing access.
Um a lot of times it'll it'll
start at a high level.
So maybe there's three or four
Arkansas communities being um
looked at by one company as well
as communities in another state.
Um some of those companies may
some of those communities may be
eliminated one at a time, you
know, you don't have the
workforce, don't have a gut,
good gut feeling about your
quality of life, you know, one
reason or another.
And um so we communicate
incentives at a high level.
And if a company's working with
a site selection consultant,
they know they they've done
deals in Arkansas.
Um so there's trust level of
we're not gonna get to a final
stage and y'all are gonna go
really weak on us with
incentives.
You know, I worked with you
before.
Um, we want to meet the
company's needs.
Sometimes there are more
infrastructure needs or more
training needs.
Um sometimes the the landscape
of the competition is just a
little bit different.
And so, no, we strive to um to
work closely with our community
partners.
I feel like we have great
relationships with the local
economic developers around the
state so that uh when we're
getting in that final stage,
we've we've kind of crossed
those thresholds of look your
real estate looks good, your
workforce looks good, let's kind
of drill down on the business
cost.
And a lot of times what what
companies will do is they'll
find two or three communities
that they know this will all
work.
You know, these two or three
communities, they could work.
We could be successful, we could
be profitable here.
But which one is the best?
And so that's when kind of the
final push uh either incentives
or quality of life measures, or
frankly, one thing that we
really like to do is executive
to executive type conversations.
Yeah.
You know.
Uh those of us that that work
for the state or communities, I
mean, that's what we do.
I mean, we we get paid to
champion our areas.
And uh so companies know that.
Uh they might be saying, I want
to talk to one of my peers,
somebody who's who owns a
business or who's a a plant
manager.
So those those confidential
conversations, you know, we'll
put two people in a room and
say, Hey, say anything you want
to say about doing business here
in Northwest Arkansas or or your
community.
And so for them to say, here are
the advantages and disadvantages
of recruiting people to the
area, of training people within
this area.
Um, so everything from from
marketing, some of our kind of
sizzle videos of having the top
executives around the state
saying great things to that
project-specific uh executive to
executive conversation, that
that's where we want to be.
SPEAKER_03: I see uh I would I
would see where quality of life
comes into play for Arkansas and
I on the residential level,
Brandon and I are on the
residential and residential to a
the commercial side is a
residential for Brian, um where
I'm I'm having a lot of
conversations with people out of
state and they're they love the
quality of life in Arkansas.
It's far above I people
specifically will target
Arkansas for quality of life.
And and would you say, would you
see that coming in do you see
that coming into play when
you're having these
conversations you're like, hey,
we can get two or three hundred
jobs here pretty easy because
you know there's this and it's
beautiful, and uh does that come
into play?
Absolutely.
Yeah.
Yeah.
SPEAKER_02: I I think any
company um and it doesn't
necessarily have anything to do
with the size of town.
We we work, uh, you know, one of
the things that we're most proud
of is we've seen project
announcements all over Arkansas,
Southeast Arkansas, Northeast
Arkansas, southwest Arkansas.
Uh in fact, some companies they
come and they they want a rural
setting.
Yeah.
Um maybe they're creating 50
jobs, uh maybe maybe up to 100
jobs, and they know if we go to
a rural setting, we can be big
fish, small pond, yeah, get the
attention we need.
And then there's companies that
uh they they want a more
thriving, growing environment,
um, but they're gonna look at
quality of schools, they're
gonna look at um retail, they're
gonna look at outdoor amenities,
they're gonna look at at housing
prices um uh across the board.
Uh a lot of times these
decisions are made thinking,
what's this community gonna be
like in 10 or 20 years?
Yeah.
Uh so any community where you go
in and maybe you go to a
restaurant and you ask your
server, hey, how do you really
like living in this uh I mean
it's it's we've got to have
champions and ambassadors at all
levels because inevitably,
before that last investment
decision is gonna be made,
they're gonna go into a gas
station, they're gonna ask the
cashier, really like living
here.
They're gonna they're gonna ask
people around town.
And so we're not gonna get that
opportunity to just be in front
of them always as, hey, I'm the
economic developer, things are
great around here, you know.
And so, you know, having those
ambassadors all around town to
speak to quality of life, that
there's just kind of there's
some momentum around here.
Right.
That that people love it around
here, you'd be welcome to be
here.
SPEAKER_03: Uh that that carries
a whole lot of weight.
We've been talking a lot about
how amazing Arkansas is, but if
there was an area where you feel
Arkansas call Arkansas could
sharpen its tool, where do you
where do you see that or in what
category would you see Arkansas
being able to sharpen itself?
SPEAKER_02: Yeah, I think there,
you know, there's a couple
things around workforce that
we've really tried to work on
within the Sanders
administration.
And so we're we're making
strides, uh, but I think it'll
continue to be a push.
And so one is the labor force
participation rate.
Uh so uh not to to get nerdy on
you, but uh the way the way
labor force participation rate
is calculated is basically age
16 through death, not including
those that are incarcerated or
in the military, what percentage
of that population is working?
And so there's a lot of good
reasons to not be working within
that age range.
You know, maybe you have
full-time students on on the
early end, maybe you have
retirees, uh, maybe you have uh
single income families.
And so um not looking for that
percentage to be anything more
than just, you know, closer to
the national average.
Right now, Arkansas is about
four points below the national
average.
And what is the national
average?
Um it's around sixty-one.
Okay.
And we're around fifty-seven.
Okay.
Um so um we've got to get that
percentage that should be in the
labor force, we've got to get
them in the labor force.
And so uh a lot of work's been
done on who are these people?
Yeah.
Is it uh a barrier because of
childcare that uh need to get
more women in the in the labor
force?
Is it um you know, the
stereotypical 30-year-old guy
that's playing video games in
his parents' basement?
I I don't know if that guy
actually exists.
Yeah, but uh now they might be
making money.
Yeah.
But uh but there's a certain
percentage of the population
that we've got to get back in
the labor force.
Um because, you know, obviously
going from not being in the
labor force to being a
contributor in the economy is is
an incredible turnaround.
Um and then it's just the
overall workforce development
landscape.
So I've got four kids from ages
18 to 10.
I mean, I'm in the middle of
this right now thinking for my
four kids, how do you hit that
sweet spot?
Something that they're good at,
something that uh they enjoy
doing, something that a real
world job exists, and then I
ideally uh a fourth layer, a
real world job exists that pays
well.
Um and so how do you hit that
sweet spot?
So, you know, we've kind of gone
uh in different directions as a
country.
We've we've gone the direction
of everybody needs to go to
college, we've gone the
direction of everybody needs to
do this.
I mean, we need kind of just to
hit people's sweet spot.
I mean, there there are
certainly people that uh they
they don't like being in school,
they're not good at school, uh,
they're not gonna have a job
that requires um a university
education.
And so, you know, I love hearing
these stories of whether it's
somebody who goes into the
trades, becomes a plumber,
becomes an electrician or or
goes to uh steel boot camp
academy and gets a job with a
steel mill, making way more than
they would make with their
philosophy degree or or whatever
it is.
But, you know, uh and there's
there's uh maybe some meaningful
jobs out there with philosophy
degree.
I don't mean to pick on any
particular but uh you know,
finding the sweet spot for our
Kansans uh is is really a
passion area for uh the
governor's office, for us at the
Department of Commerce and AEDC.
And uh so finding those
pathways, uh whether it be
community college or the rate of
the going to the trades or for
our university, um, just finding
the sweet spot of our Kansas is
what we got to continue to do.
SPEAKER_03: I definitely see the
trades being a big one.
I mean, AI can't replace going
and turning a ranch on them on
when you got a sewer coming up
out of your toilet or something
like that.
And that that's been a talk I've
heard in other podcasts too.
It guess is on a national scale.
Like it we are trending a little
bit more toward away from like
you have to go to college to
like no, you can there's a lot
of creative ways you can make
money and uh start a plumbing
business, start an HVAC
business, start a I mean people,
I mean, a modern luxury is HVAC
and plumbing and electrolyte.
That is that will never go away.
So that's that's a great topic.
SPEAKER_01: Yeah.
So if before we go into NWA, I
want to highlight that.
If I'm a I'm a company in New
York City, I want to move out of
New York City right now.
I want I have$50 million and I
have a hundred employees I want
to bring.
Why should I go to Arkansas
versus Texas or Tennessee?
Yeah.
What are the questions to them?
SPEAKER_02: I mean, it's it's
always going to be project
specific, but one thing you can
count on in Arkansas is we're
gonna tell you the truth and
we're gonna collaborate closely.
And maybe you find that in other
states.
Um, you know, I I can't talk bad
about every state.
I mean, the the two you
mentioned actually have great
business climates, Texas and and
Tennessee.
Um I think that uh you'll find
in Arkansas Maybe Oklahoma.
Yeah, I think you'll find in
Arkansas uh a willingness on
behalf of not only elected
leaders, but just everyone
across the board to be helpful.
Uh whether that's a fellow uh
plant manager down the road,
maybe that's um the the
construction company, it's the
utility companies, it's the
partners that are gonna help you
be successful.
Uh you want to be in a place
where you can go have a
conversation with a neighbor to
say, hey, I'm I'm looking for uh
somebody of a particular skill
set, and they say, Yeah, you
know, my uncle uh works at a
place, uh let me call him.
I I he's he's gotta know some
people.
Right.
Or I've got a friend down at the
university.
Uh surely they they know
somebody.
You know, just a place where
we're gonna collaborate well
through official and unofficial
channels like that.
Um, a place that's gonna give
you a great business climate, uh
predictability for years to
come.
I mean, we've had a balanced
budget in Arkansas uh for the
last many, many decades.
And so we we have ended each
fiscal year with an incredible
surplus in the last three years,
and we've cut taxes.
So what that says is that we're
going to not only um you know,
we've we've got to provide basic
services, and so people
understand that.
Uh but when you finish the year
with a surplus and you are
pushing toward future tax cuts,
it kind of gives the confidence
that they're not getting ready
to raise taxes on me.
In fact, they're they're gonna
keep going.
Uh, you know, um again, not to
talk bad about any states.
This has been a while.
Yeah.
But uh when Kansas did this
experiment of like dropping
rates significantly, uh, did a
lot of damage, and they've had
to raise their tax rates over
time to make up for that.
They're in a better spot now and
doing well.
Uh, but we never want to be like
that.
So uh we cut taxes responsibly,
uh constantly looking at our
environment, um, intervening
where we can uh with prepping
sites and lowering taxes and
giving customer service, and
then getting out of the way
where it's appropriate.
Not seeing ourselves as a
regulator of business, um, but
seeing ourselves as a champion
of business.
And so uh helping out with
customized needs of workforce,
uh doing everything that we can
to help companies um is
something that that I think you
know would would put us um as a
lot of site selection
consultants know they can bring
their clients to Arkansas
ultimately or may or may not
work out, but we're not gonna
embarrass them in front of their
clients.
We're gonna give them um a very
compelling reason to do business
in Arkansas and um you know a
lot of factors.
So we're gonna win some, we're
gonna lose some, but ultimately
we want to win more than our
fair share.
SPEAKER_03: Well, I see why
you're executive director, I'm
I'm convinced.
Man, I I love I love your your
heart for the state of Arkansas
and how well you're I mean,
you're just so easily able to
rip off this stuff.
And uh it's really it's cool to
see um and being born and raised
in Arkansas, having like feeling
like like we're on the same team
in a sense of like I love this
state.
And you're like you're the out
there the champion for the
state.
It's really cool.
And I want to uh give your
flowers there.
Um you want to head into
Northwest Arkansas?
Yeah, yeah.
So yeah, the last part of this,
I'd love to talk about North
Arkansas.
SPEAKER_01: Yeah, I think so.
I think I think the to round
that up, how does NWA fit into
your statewide goals?
SPEAKER_02: Well, um, I mean,
well said, statewide goals.
We want all 75 counties to be
incredibly prosperous.
We want opportunities for
Arkansans.
Uh we do what we do for
Arkansans.
Um, and and we do that through
the channel of of working with
communities and with companies,
but ultimately it's about
Arkansans.
Uh Northwest Arkansas plays such
an incredible role.
Um, you know, just the the sheer
population growth, the momentum,
the research and innovation that
comes out of the University of
Arkansas, um, the the
initiatives that are here, the
quality of life.
Um, I mean, it's it's a shining
star of of the state.
It's uh it's a place where uh
the reputation, the perception
has just gone through the roof
uh over the years.
I mean, the the visitors to the
um, you know, all the amenities
of Arkansas.
I had had somebody tell me once,
um, said, you know, you guys
have built out this brand in
Northwest Arkansas as the
mountain biking capital of the
world.
And uh, do y'all even have
mountains here?
And he said, uh, well, you know,
I you know, he was joking, but
uh such great mountain biking
trails.
Yeah.
Crystal Bridges Museum of
American Art, and how many
people from around the country
may have started by saying,
really?
Like the best art in America can
be found in Arkansas, yeah, and
have left saying, I'm coming
back and I'm bringing more
friends and family and and uh
we're gonna buy a house here.
Yeah, yeah.
And so uh or or just the number
of stories, maybe that people uh
came and they said, Okay, I'm
gonna take this job with Walmart
and I'm gonna stay for five
years and then I'm out of here.
And uh 30 years later, uh maybe
they work for another firm or
maybe they've started a company.
Um, but but people they come
here, they love it, and uh just
a great representation.
Of our state from the heart
behind the people to the success
of the companies.
And so, you know, we want
nothing but to see that momentum
continue here in Northwest
Arkansas.
SPEAKER_03: What what kind of
businesses are you seeing that
are eyeing or planting here in
Northwest Arkansas?
SPEAKER_02: Aaron Powell Yeah.
I think some of the sectors,
food and beverage, consumer
goods, aviation, aerospace and
defense, you know, across the
board around entrepreneurship,
whether it be kind of uh working
with within these major sectors
of like supply chain and
logistics and things that JB
Hunt might be involved in, or
things that Tyson Foods may be
involved in, or you know, retail
technology and things that
Walmart may be involved in.
Uh we work closely with uh
startup junkie and uh all the
work around entrepreneurship
with with them and the
University of Arkansas.
And so I I think whether it's a
large established uh industry or
it's just a lot of
entrepreneurs, um, you know, one
of the great uh things about our
job is is being involved in like
these um entrepreneurship
programs where uh you hear about
people just moving to Arkansas
and just, you know, I got a got
a taste of Northwest Arkansas
and I've decided to just move
myself and my business here.
And uh maybe they're you know
leasing space at the ledger, or
maybe they're they're working
out of their home, or it's uh
it's another co-working space,
or maybe they're just starting
to do great things.
But uh, I think uh, you know,
that that'll continue.
Uh you know, Arkansas's always
had a pretty diverse economy,
same for Northwest Arkansas.
SPEAKER_03: Aaron Powell Would
you say you're uh exceptionally
more bullish on any any of those
for the next couple years?
Um or uh like I would you say
you're more bullish on any of
those, like industries planting
up here or yeah, I I mean, you
know, um well I I don't know,
across the board, I think
they're all doing well.
SPEAKER_02: Yeah.
You know, one thing that I'd
really like to see across the
state, but in particular in
northwest Arkansas, and so you
mentioned Keytronic as one.
Um Keytronic, they found this
this building that a developer
had built, uh spec building,
knowing that um if we find the
right tenant, uh this is gonna
work out well.
Uh developers are not building
just all around America, they're
building in regions where
there's confidence that
companies are gonna come along
and want to lease space.
I would love to see a lot more
of that.
I think that um, you know, when
I did economic development in
Kansas City, definitely uh
economic developer was developer
driven.
I mean, there's so many
developers that are just
throwing up 400, 600, 800,000
square foot buildings, yeah,
leasing them before they're even
built out, and then they go on
to the next one.
Yeah.
I think Northwest Arkansas could
be that market.
Um, just the growing population,
the growing uh economic
development momentum.
I certainly hope that we get
more and more attention from
national developers who are
thinking, I want to find regions
that I can go invest, build
buildings, knowing that um not
every company wants to own their
building.
Some they just want to focus on
running their business and they
want to lease.
And uh so I think that's an
opportunity from Northwest
Arkansas.
SPEAKER_03: So you're you you're
basically saying to see those
investors from across the
country just front that money
and have the lease space for
Triple Net lease, that's
basically what you see we
Northwest Arkansas could do
better.
Yeah, absolutely.
Yeah, yeah.
Brian, do you do you do you see
that as well?
SPEAKER_01: Yeah, I think
there's uh plenty of uh options
there, you know, for the like
you for me personally, I'm you
know, building these looking at
building some flex space for you
know 2,500 square foot.
And and part of that vision is
do I build it, build it to suite
where it's move in ready, or do
I build it and hey, who this
next tenant is, they may want
three offices.
One tenant might want 10
offices.
You know, so I think what uh
Clint is saying, you know, you
kind of build out this box and
then you have potential uh
companies come in and say,
here's how we would build it to
suite.
So I think there is definitely
opportunity in the industrial
space uh here to do that.
Yeah.
Is there any incentives for
developers to uh I guess tax
incentives or um I don't know if
there's any incentives for that.
SPEAKER_02: Well, not not
currently.
Um you know, there could be with
this economic development
districts bill that's uh will be
in front of the people of
Arkansas to vote a year from
now.
So it uh it it passed as a
referral for a potential
constitutional.
Yeah, yeah.
Yeah.
Um this is something that um a
group of um interested folks, a
lot of attorneys around the
state, started looking at uh how
do we best compete with Texas,
for example.
You hear about all these great
economic development deals in
Texas, and a lot of times it's
community-driven.
It's not necessarily the state
organization, although though
they're a great organization and
they're supportive.
Yep.
Um this would give communities
the ability to redirect sales
and property taxes in a very
broad, it gives them broad
authority.
So uh whether it's uh sometimes
known as a TIFF district or a
tax increment financing, that's
one of the tools within an
economic development district.
But if this passes, and uh uh
there's there's a group at the
Arkansas State Chamber of
Commerce that's leading an
educational campaign because
there's of course a lot of
questions.
And anytime that you have a new
program like this, you're gonna
be having those that say, you
know, is this corporate welfare?
Is this something that's pushed
upon communities?
You know, a lot of questions,
which is reasonable.
We've we've got a year to
educate Arkansans, and uh
certainly hope that we'll add
this tool to the toolbox.
Uh, it would give local elected
officials, so city council or
quorum court, the ability to
create an economic development
district.
And that can be an eight-block
area of downtown, it can be an
industrial park, it can be
residential, commercial,
industrial, whatever a community
wants.
And within that area, you set up
the parameters of how you'll
redirect sales and property
taxes.
So you may be working with an
investor, uh you may be working
with an end user, and maybe
working with a high-end
retailer.
Uh I mean, I would not encourage
this for your everyday retail.
And uh, you know, there's
certain retail that's just going
to happen on its own as a
function of rooftops and
discretionary income.
But if you're uh wanting to
attract a unique retailer who's
looking for incentives, and
that's what it's going to take
to get it over the edge.
Across the board, whatever you
want to do to give communities
the ability to redirect sales
and property tax to pay off
infrastructure build-out or to
incentivize developers.
Um, a community certainly does
not have to go down that road.
This can this can pass, and a
community can say, we're never
going to create an economic
development district.
And that's fine.
Uh just want to put this tool in
the hands of communities so that
um what we're seeing in Texas,
what we're seeing in other
states, uh you'll you'll see
come to fruition.
As as one of the legislators
from Southwest Arkansas stated
it well, uh drive down Lather
and find, you know, the type of
retail that you see in Texar
Canada, Arkansas versus Texar
Canada, Texas.
It's uh it's it's challenging in
Arkansas to uh to create the
type of of uh development that
that you need just because of
the toolbox that we have here
versus Texas.
So um that's something that
could help.
Um, I think uh for for now and
really how it works in a lot of
states is is not necessarily
public policy or incentives.
It's just that confidence that
this region is gonna continue to
grow and the quality of life,
the business costs, the
amenities are such that uh
companies are gonna find it
attractive.
And and and companies want speed
to market.
So if they had an opportunity
for 300,000 square feet with
30-foot ceilings, um, they might
take that all day long here
versus a greenfield site and the
construction cost and doing
that, you know, yeah, somewhere
else.
SPEAKER_03: You said the state
of Arkansas is gonna get the
vote on that in a minute of
year.
Yeah.
Well, when people start asking
about it, I'll send them to
minute 55 or the loggers for
this.
What issue is that?
SPEAKER_01: Is that an do they
have numbers yet?
SPEAKER_02: Uh I believe it's
number three.
Number three.
SPEAKER_03: Um but uh looking at
me.
Yeah.
That's great.
Um we're kind of wrapping up
towards the end of the round.
You've you've done an incredible
job.
It's such a wealth of knowledge.
Um we've really appreciated your
time.
We're gonna go into like a rapid
fire round, um, which is give as
long or short answers as you
want.
Uh favorite Arkansas town or
hidden gym?
Uh or maybe one of both.
SPEAKER_02: Yeah, well, let me
give a shout out to uh a
community in southwest Arkansas.
Okay.
Murphersboro.
It's where both of my parents
grew up.
Yeah.
Uh I did not grow up there,
spent a lot of time there.
It's communities like that, full
of just wonderful people,
hardworking people.
Um uh should be more of a
tourist destination.
Speaking of hidden gems, where
the diamond mind is.
Oh, yeah, sure.
A lot of times you see the the
diamond.
My mom goes over.
Uh so uh yeah, I'll give a shout
out to Murphy's Borough.
SPEAKER_03: Murphy's borough.
What is one book every leader
should read?
SPEAKER_02: Uh I'll start with
the Bible.
Yeah as a person of faith, um,
you know, that that that's the
book.
That's the standard.
Um, you know, one book that I in
addition, uh that I encourage uh
leaders to read is uh it's it's
a little bit of a unique one
here.
It's called Never Split the
Difference by Chris Voss.
Um so um kind of a former FBI
trained interrogator, uh
negotiation hostage, uh hostage
negotiation specialist uh
applies those principles to kind
of everyday life and business.
And uh so, you know, negotiating
is is not a bad word.
It doesn't have to be uh tense,
it doesn't have to be uh
stressful.
You know, negotiation can be
done in a way where you create
win-win partnerships and uh a
lot of good principles.
That's cool.
What was the name of the author
again?
Uh Chris Voss.
SPEAKER_03: Chris Voss.
I will look that one up.
B-O-S-S.
Yes.
Okay.
Um most satisfying dealer
project to date.
SPEAKER_02: You know, I it'd be
too hard to to name just one.
Two or three.
So yeah, I mean, let's let's go
through some recently.
Yeah.
Um, you know, recently we talked
here in Northwest Ardencell
about Keytronic and packaging
specialties.
Yeah.
Um those are those are
incredibly meaningful because
it's just um, you know, anytime
that a business owner or
corporate executive makes a
decision like that, they're kind
of putting their reputation on
the line.
Yeah.
Sometimes they're putting their
job on the line.
Yeah.
Hey, if this doesn't work out,
that was a big screw up.
Yeah.
If it works out beautifully,
then wow, great decision.
Yeah.
And so um, you know, uh those
are those are two recent ones
from Northwest Arkansas.
We talked about uh, you know,
what's going on in the steel
industry in Mississippi County,
things like that are are so
incredibly rewarding as you
think about an area of the
country like Northeast Arkansas,
uh Southeast Missouri, West
Tennessee, that uh for years and
years, unfortunately, has just
been kind of an impoverished
part of our country.
Yeah.
And so to find all the elements
like the Mississippi River I-55,
affordable energy rates, BNSF
rail, flat agricultural land,
put all the amenities together
and create this county that's
now the largest steel producing
county in America with very,
very good paying jobs.
Wow.
And so uh, you know, you have
folks who have grown up um and
and maybe unfortunately grown up
in poverty thinking I can go to
a steel boot camp, train for a
short amount of time, and go
make six figures as a as a steel
worker.
Yeah.
And uh to be able to be a part
of of uh seeing something like
that happen in Arkansas, that's
what it's all about.
SPEAKER_03: That's great.
I mean, I I learned that uh in
this last hour.
I didn't I had no clue about all
the steel that was happening in
that county.
Um advice to aspiring developers
or public leaders.
Uh you know, focus on
relationships.
That could be a whole podcast.
SPEAKER_02: Yeah, yeah.
It could be it could be a whole
podcast.
But you know, I think uh when
when my days are done and and I
hang it up, um, I'm not gonna be
thinking about the metrics and
the scoreboard.
Yeah.
I mean, I want to make a
difference.
Um, I want to win projects
because that's gonna result in
jobs and great opportunities for
Arkansans.
Uh, but I want those closest to
me to say, man, I enjoyed
working with that guy.
You know, I I I want to have
good relationships with elected
officials and economic
developers around the state and
with our team.
And so um, I would say, uh, and
this is advice for myself,
because a lot of times I get
caught up in just what's the
scoreboard?
What are we doing today?
How do we move the needle?
Yeah, how do we win one more
project?
Uh, but at the end of the day,
uh, it's about people.
Um, so it's not just about
people at the other end of the
job, it's about people right
around you.
SPEAKER_03: Very
relationship-based.
I got that's I've been a
constant string to you've been
saying is like this is a very
relationship-based business.
So that that's incredible.
Uh wrapping up, um, where can
people find AEDC's resources or
contact you?
SPEAKER_02: Yeah.
Uh take a look at our website,
Arkansasedc.com, uh, or look me
up on LinkedIn.
Uh that's my one and only social
media and smart man.
I'm going to try to do a lot
there.
But uh happy to connect with you
on LinkedIn.
SPEAKER_03: Well, uh, it's been
a pleasure having you guys.
Do you guys have any following
statements?
It's been great.
Great way to finish it.
It's been a really, really good
one.
I think this is this is
something that I know for me
I'll I'll be sending people to.
I I talk with a lot about state
people, um, even on the
residential side that are
curious about the state as a
whole, and this will be an
episode.
I'll point and say, hey, go
listen to Clint talk.
So I appreciate your knowledge.
Um please stay tuned for a next
episode with the new president
now of is Alex embracing it?
We'll find that we'll find out.
Alex today, uh president of the
bank of uh Arm Armstrong Bank.
Thank you so much, Clint.
Yeah, good deal.
Thanks for tuning in.
I'm gonna go ahead and uh list
some sponsors off here.
We're gonna start with One Stone
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