The Arkansas Department of Economic Development (DED) plays a pivotal role in fostering the growth and sustainability of local businesses across the state. By offering a range of programs, incentives, and resources, the DED ensures that entrepreneurs and established companies have the support they need to thrive.
State Programs and Initiatives
Arkansas Site Development Program
Launched in June 2024, the Arkansas Site Development Program provides matching funds to enhance industrial site readiness. This initiative aims to make sites more competitive for job-creating projects. Eligible applicants include cities, towns, counties, economic development organizations, and chambers of commerce. The program focuses on improving infrastructure, conducting due diligence studies, and other site development activities. (commerce.arkansas.gov)
Community Assistance Grant Program
In May 2025, the DED introduced the Community Assistance Grant Program to combat poverty and promote self-sufficiency. This program supports projects addressing childhood food insecurity, unemployment, education, and housing. Governor Sarah Huckabee Sanders proposed allocating $15 million for this initiative, pending approval from the Arkansas Legislative Council. (axios.com)
ARise Program
Formerly known as Innovate Arkansas, the ARise program supports startups with resources aimed at fostering high-paying job creation statewide. Managed by the Arkansas Economic Development Commission (AEDC), ARise offers services like a digital resource library, regional events, and collaborations with other support organizations. (axios.com)
Business Incentives
Arkansas offers a variety of incentives to attract and retain businesses:
- Community Development Block Grant (CDBG): Benefits low- and moderate-income individuals and addresses urgent community development needs.
- Equity Investment Tax Credit: Targets new, technology-based businesses paying wages above the state or county average.
- Targeted Business Incentives: Designed to assist knowledge-based, start-up businesses at the discretion of the AEDC Executive Director. (arkansasedc.com)
- Address: 1 Commerce Way, Little Rock, AR 72202
- Phone: (501) 682-1121
- Website: arkansasedc.com
- Little Rock (Lead Center): 2801 S. University Ave., Little Rock, AR 72204
- Phone: (501) 683-7700
- Website: asbtdc.org
- Address: 1 University of Arkansas, Fayetteville, AR 72701
- Phone: (479) 575-2000
- Website: uark.edu
- State Office: 700 W. Capitol Ave., Room 3416, Little Rock, AR 72201
- Phone: (501) 301-3200
- Website: rd.usda.gov/ar
- State Office: 700 W. Capitol Ave., Room 3416, Little Rock, AR 72201
- Phone: (501) 301-3200
- Website: rd.usda.gov/ar
Local Resources and Support
Arkansas Economic Development Commission (AEDC)
The AEDC is the primary state agency responsible for economic development. It offers various programs and incentives to support businesses.
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Arkansas Small Business and Technology Development Center (ASBTDC)
The ASBTDC assists all types of for-profit businesses, from home-based to high-tech, by providing one-on-one confidential consulting and cutting-edge market research at no charge. They also offer affordable educational events to help businesses grow. (asbtdc.org)
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University of Arkansas Office of Entrepreneurship and Innovation
The University of Arkansas collaborates with the AEDC to launch the Arkansas Business Resource Hub, a centralized listing of organizations providing resources, programs, and funding to Arkansas entrepreneurs and small business owners. (news.uark.edu)
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Federal Programs Supporting Arkansas Businesses
Rural Economic Development Loan & Grant Program
The U.S. Department of Agriculture (USDA) offers the Rural Economic Development Loan & Grant Program, providing funding for rural projects through local utility organizations. This program aims to create and retain employment in rural areas. (rd.usda.gov)
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Rural Microentrepreneur Assistance Program
This USDA program provides loans and grants to Microenterprise Development Organizations (MDOs) to help microenterprises start up and grow through a Rural Microloan Revolving Fund. It also offers training and technical assistance to microloan borrowers and micro-entrepreneurs. (rd.usda.gov)
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Conclusion
The Arkansas Department of Economic Development, in collaboration with various state, local, and federal agencies, offers a comprehensive suite of programs and resources designed to support local businesses. By leveraging these initiatives, entrepreneurs and business owners can access the tools and assistance necessary to foster growth, innovation, and economic prosperity within Arkansas.