The Arkansas Economic Development Commission recently announced Hope as the latest city to complete the state’s Competitive Communities Initiative process.
State officials, including Secretary of Commerce Hugh McDonald and AEDC Executive Director Clint O’Neal, joined the community to celebrate the CCI announcement.
“Hope has a strong industrial base and a workforce ready to grow, and today’s Competitive Communities Initiative designation recognizes that strength and positions the city to compete for what’s next,” said Gov. Sarah Huckabee Sanders. “As the No. 1 state for inbound movers, Arkansas’ growth isn’t limited to our major cities – our rural and smaller communities have to be just as ready. This designation allows Hope to showcase its workforce as the product and attract new investment, and we’re excited for what’s ahead.”
Hope is the 10th Arkansas community to receive the CCI designation. Through the CCI process, each community has learned how to identify ways it can be more competitive in its economic development organizational structure, economic development funding, workforce and product readiness.
“Supporting our local communities and helping position them for success is a key goal for AEDC, and the CCI program is a major part of that effort,” O’Neal said. “This designation shows that Hope has put in the work and is prepared to compete for job-creating projects at a high level. Congratulations to the local community and its leadership on this well-earned designation.”
Best practices in the field of economic development were used to determine the standards for the Competitive Communities Initiative. An evaluation program is implemented at the community level to provide for a third-party assessment and recommendations for improvement.
“Receiving the AEDC Competitive Community designation is a powerful validation of decades of intentional work in Hempstead County at HCEDC,” said Anna Lee Powell, president of Hempstead County Economic Development. “Over the years, our community has seen millions of dollars in capital reinvestment, the growth of a skilled industrial workforce, and sustained collaboration between public and private partners. As we mark more than forty years of organized economic development, this designation confirms that Hempstead County is competitive, prepared, and positioned for future growth.”
A team of evaluators from AEDC and its partners uses the information to help communities better understand any gaps or weaknesses that could negatively affect economic growth; learn from best practices and receive guidance from economic development professionals; educate community leaders on their competitive standing and readiness; and utilize the outcome of the evaluation in improving their success in attracting investments and jobs.
For more information on the AEDC Competitive Communities Initiative, including how communities can complete the process, visit www.arkansasedc.com/cci.
Feature image: Anna Lee Powell receives a plaque commemorating Hope’s CCI designation from Hugh McDonald and Clint O’Neal. (Photo courtesy of AEDC)
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