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Arkansas State UniversitySummer Research Development Institute

May 30, 2013

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Population Estimate - Projected

Clay

Craighead

Crittenden

Cross

Greene

Lawrence Le

e

Mississ

ippi

Phillips

Poinsett

Randolph

St. Francis

0

20,000

40,000

60,000

80,000

100,000

120,000

Eastern Arkansas Counties

2012 Estimate

2017 Projected

Source: Demographics Now

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ClayCraighead

CrittendenCross

GreeneLawrence

LeeMississippi

PhillipsPoinsett

RandolphSt. Francis

0 2 4 6 8 10 12

Regional Unemployment Rate by County

Source: Arkansas Department of Workforce Services

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Income

Clay

Craighead

Crittenden

Cross

Greene

Lawre

nce Lee

Miss

issippi

Phillips

Poinsett

Randolph

St. Fr

ancis

State of A

R$0

$5,000

$10,000

$15,000

$20,000

$25,000

$30,000

$35,000

$40,000

$45,000

2012 Income Estimates

Median HH Income

Per Capita Income

Source: Demographics Now

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Income

Clay

Craighead

Crittenden

Cross

Greene

Lawre

nce Lee

Miss

issippi

Phillips

Poinsett

Randolph

St. Fr

ancis

State of A

R0

10000

20000

30000

40000

50000

60000

2017 Income Projections

Median HH Income

Per Capita Income

Source: Demographics Now

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Educational Attainment Associates Degree

Source: Demographics Now

Craighead

Crittenden

Cross

Greene

Lawre

nce Lee

Miss

issippi

Phillips

Poinsett

Randolph

St. Fr

ancis

State of A

R0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%Educational Attainment

Associates Degree

2012 Estimate

2017 Projected

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Educational Attainment Bachelor’s Degree

Clay

Craighead

Crittenden

Cross

Greene

Lawre

nce Lee

Miss

issippi

Phillips

Poinsett

Randolph

St. Fr

ancis

State of A

R0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

16.0%

Educational AttainmentBachelor's Degree

2012 Estimate

2017 Projected

Source: Demographics Now

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Educational Attainment Graduate Degree

Clay

Craighead

Crittenden

Cross

Greene

Lawre

nce Lee

Miss

issippi

Phillips

Poinsett

Randolph

St. Fr

ancis

State of A

R0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0% Educational AttainmentGraduate Degree

2012 Estimate2017 Projected

Source: Demographics Now

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• Rural agricultural based economy• Communities with limited local resources• Workforce limitations

Arkansas Delta as “they” know it

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• World class transportation network– Interstate highways– Class 1 railroads– Mississippi River with slack water port facilities– Airfield operations with 11,000 ft runway and over

1,700 dedicated acres

Arkansas Delta as “we” know it

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• Existing business clusters:Steel productionFood processingAutomotive component productionAgriculture production & processing

And there’s more

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• Emerging business clusters:HealthcareWind energyAlternative FuelsBiotechnology

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Bringing Jobs to Northeast Arkansas

• According to Business Insider, Craighead County, Arkansas is one of twenty American cities and counties that could be the next Silicon Valley. This bold assertion is based on Craighead County’s “sizable workforce (in relative terms), a vibrant local economy, and the presence of a small college or university.”

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• These same factors are among the many reasons ASU’s College of Business is working overtime to offer business development and incubation services to Northeast Arkansas. Home to the Delta Center for Economic Development, including the newly established Catalyst Innovation Accelerator, the College of Business is cultivating a pipeline for innovation, technology commercialization, business incubation, and launching of such businesses into Northeast Arkansas.

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A Look at Services Offered

• The Delta Center for Economic Development coordinates ASU’s economic development outreach activities.

• The Delta Center offers a number of services to assist entrepreneurs and growing businesses, both inside of ASU and out in the region. These include the training, research, and advising designed to assist business progress and growth.

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Incubation: Taking the Next Steps

• The Delta Center oversees the College of Business’s Business Incubation program, which is divided into two facilities

• The Krueger Drive Incubator includes several 150 sq. ft. furnished offices and all of the necessary accoutrements to produce a welcoming, successful work environment. A flexible work space with over 3,000 sq. ft. is also available to host a distribution or light manufacturing business.

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• The Delta Center is also home to several entities providing specialized services.

• The Small Business Technology Development Center (SBTDC) is a training and research service provided by the Small Business Administration.

• The Arkansas Manufacturing Solutions (AMS) is a program of the Arkansas Science and Technology Authority providing management and operational consulting to existing businesses.

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• Most recently, alt.Consulting began conducting feasibility studies and providing business and financial planning services, among other things.

• All of these work to provide comprehensive business services and professional training opportunities, including Small Business Innovation Research proposal development, business plan writing, networking, and professional development.

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• In addition, Catalyst Innovation Accelerator, a facility that fosters technological business innovation.

• The purpose of the Catalyst program is to create jobs in the region by promoting a culture of innovative entrepreneurship and providing services and support directly to early stage and growing innovation driven opportunities.”

• Catalyst is focused on growing STEM (Science, Technology, Engineering and Math) and other related, high paying jobs in Northeast Arkansas.

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• Catalyst encourages and promotes innovative, collaborative entrepreneurship, both inside and outside the university.

• Without access to resources like these, new and/or inexperienced companies are at risk of floundering, especially in the current economic environment.

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Success Stories from ASU Business Incubation

• Rural Sourcing, Inc., is a high-tech company start-up that focuses on outsourcing software development to domestic sources as opposed to foreign ones.

• For a time, the Jonesboro branch of Rural Sourcing, Inc. was housed in the Krueger Drive facility before transitioning to a space in downtown Jonesboro.

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• The Krueger Drive facility also played a crucial role in bringing Nordex, an international wind turbine production company, to Northeast Arkansas. Nordex was temporarily housed in the business facilities before opening its 150,000 sq. ft. plant. Nordex represents a $40 million investment in Jonesboro.

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Paragould Retail Study– in depth retail analysis of current market – Coordinating both online and on location surveys– Community and business focus groups

Batesville Tourism Feasibility StudyOsceola Tourism Feasibility StudyMississippi County Delta Bridge ProjectRe-New East Arkansas

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Contact Information:Alan McVey

ASU-Delta Center for Economic DevelopmentPO Box 2710

State University, AR 72467870-972-3000

amcvey@astate.eduwww.astate.edu/a/deltaced/