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Economic Development

The Economic Development Corporation recruits new businesses and developments to North Little Rock and guides entrepreneurs through the process of establishing a business in the city. Economic Development also assists businesses expanding their existing operations in North Little Rock. 

About

The North Little Rock Economic Development Corporation is a not-for-profit 501-C-6 private corporation established in 1990 by a group of volunteers from the North Little Rock Chamber of Commerce and North Little Rock city government. Throughout its existence, the North Little Rock Economic Development Corporation has promoted economic development for the City of North Little Rock and its citizens. Soon after its incorporation, the North Little Rock Economic Development Corporation entered into annual contracts with the city government to promote and foster economic development and to conduct pertinent activities associated with that endeavor.
  For more than a quarter of a century, this cooperative economic development partnership has been very productive. The North Little Rock Economic Development Corporation and city government were partners in successfully receiving the city’s first economic development grants from both federal and state economic development agencies. The first U.S. Economic Development Administration grant assisted with the development of the 250 acre I-440 Industrial Park. The first Arkansas Economic Development Commission grant helped fund infrastructure improvements for the Deluxe Video Services facility that subsequently became home to Caterpillar’s state of the art motor grader assembly facility. Another federal grant, financed the expansion and renovation of the Pulaski Tech College Aerospace Technology Center and the North Little Rock Airport.
  In addition to recruiting Caterpillar, the North Little Rock Economic Development Corporation was instrumental in bringing Timex, Glazer’s Distribution, Ben E. Keith Foods (including recent retention and expansion), Diamond Bear Brewery, Flyway Brewery, Southern Famers Association, United Way Headquarters, U.S. Foodservice, Alliance Parts Warehouse, UTC Aerospace Systems, the Arkansas Sports Hall of Fame, Care Link Headquarters and the Arkansas Regional Innovation Hub to North Little Rock. Also, the Economic Development Corporation has worked on business incentive packages and below market financing for numerous North Little Rock businesses.
  The North Little Rock Economic Development Corporation was and is a leader among economic development organizations in emphasizing “quality of life” as an integral component of urban economic development. As a result, it has been actively involved with downtown revitalization. It played critically important roles in the development of both Verizon Arena and the Dickey-Stephens baseball stadium and was instrumental in relocating the Chamber of Commerce to downtown North Little Rock.
  Recently, the North Little Rock Economic Development Corporation was a contributor to efforts to finance commercial revitalization plans for the Park Hill, Levy and Baring Cross neighborhoods.
  The Levy and Park Hill neighborhoods were selected to be among five central Arkansas neighborhoods to participate in the U.S. Department of Housing and Urban Development/Metroplan “JumpStart” program.


Incentives

The North Little Rock Economic Development Corporation assists businesses with obtaining and using any federal, state, and local incentives that the business is eligible to use.  The EDC also assists with arranging below market financing for qualified businesses.


Frequently Asked Questions

Q.  What incentives are available for my business?
A.  Incentives are established to encourage and promote growth for certain categories of businesses.  The EDC can help a business determine eligibility and, if eligible, provide advice and assistance in obtaining them.

Q.  What grants are available for businessess?
A.  Unfortunately, direct grants, per se, for businesses are not usually available.  However, sometimes in periods of severe economic distress, direct grants may be available.  Grants for public infrastructure assistance are difficult to obtain, but available.

Q.  Can the EDC help with obtaining a loan for my business?
A.  Yes.  The EDC can assist qualified biusinesses with loans and bonds for working capital, building construction, and equipment acquisition.


Contact

  Todd Larson - Director
  100 Main St.
  North Little Rock, AR 72114
  Phone: (501) 371-0116
  Fax: (501) 372-5955
  Email: tl@nlredc.com
  Website: www.nlrchamber.org