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Regionalism
AEDC is very focused on regional partnerships to accomplish statewide economic development goals. Per the Governor's Strategic Plan for Economic Development, AEDC is encouraging communities to look to neighboring communities and counties as partners, not competitors, when it comes to business attraction and retention and expansion activities. Because of Arkansas's rural nature and small population, it has become difficult for most communities to compete effectively in today's global market.
In addition, regional efforts tend to be more effective when it comes to the site location process. Site selection consultants and prospect companies prefer to sort data and demographics regionally versus community by community. Regions are also better able to address any workforce needs a company will have and can combine financial resources to create local economic development incentives. In other words, by coming together, regions can collectively utilize assets to move forward by creating quality jobs.
