After three years of planning and waiting, North Little Rock has finally received federal funding for a 262-acre industrial park in the Interstate 440 area.
At a May 5 press conference at the North Little Rock Chamber of Commerce office, Mayor Pat Hays formally announced the city received a $465,600 Economic Development Administration grant for the industrial park.
“When we have had the national spotlight focused on Central Arkansas, it is nice to add … the resources for industry to expand and relocate in Central Arkansas,” Hays said.
The city must raise $310,400 to qualify for the grant, bringing the total project cost to $776,000.
Benefits of the park are expected to include new jobs, expansion of the tax base, increased sales of North Little Rock’s electricity to businesses and a greater availability of industrial sites, Hays said.
The property on which the industrial park will be located is bounded by Interstate 440 to the east, eastern Rose City to the west, Faulkner Lake Road to the north and Highway 165 to the south. It lies near the North Little Rock Waste-Water Utility. Continue reading