Secretary Locke Announces $5.25 Million Investment in Arkansas Job Creation, Economic Development.

Little Rock, Ark. (April 17) U.S. Commerce Secretary Gary Locke, on his first official trip since taking office, presented $5.25 million in Economic Development Administration (EDA) grants to create jobs and strengthen the Arkansas economy in the wake of the severe storms, flooding and tornados that occurred in 2008. Locke was joined by Arkansas Gov. Mike Beebe and Sen. Mark Pryor. "The Obama Administration is committed to creating jobs, encouraging innovation and improving our nation's competitiveness", Locke said.

U.S. Secretary of Commerce Gary Locke with Arkansas State University delegation: (from left) President and CEO of Jonesboro Regional Chamber of Commerce Mark Young, executive director of Arkansas Biosciences Institute Dr. Carole Cramer, Jonesboro Mayor Harold Perrin, Commercial Innovation Director at ABI Dr. David Radin, executive director for the Delta Center for Economic Development Alan McVey, Secretary of Commerce Gary Locke, ASU Chancellor Robert L. Potts, dean of ASU College of Business Dr. Len Frey.

Friday, April 17, 2009 US Department of Commerce
Remarks Announcing EDA Grants to Arkansas
Reynolds Center for Business
University of Arkansas at Little Rock
Little Rock, Arkansas

Thank you, Crash, for that kind introduction. In all my years of public service, you are officially the first "Crash" who has ever introduced me.

It is my honor to be here with you today on my first trip on behalf of the Commerce Department. Before I begin, though, I'd like to recognize a few people.

Thank you, Chancellor Joel Anderson, for hosting us today in this impressive building, which the Commerce Department's Economic Development Administration is proud to have had a hand in developing. The University of Arkansas at Little Rock has been an invaluable partner to EDA, and we expect more great things to come as a result of this partnership.

I'm also joined here today by Governor Mike Beebe who gave a great welcome, and of course, U.S. Senator Mark Pryor, who cares deeply about the people of Arkansas and is an effective and respected advocate for you in Washington, DC. Gentlemen, I thank you both for your leadership.

Finally, I would also like to recognize Phil Paradice, Director of the Economic Development Administration's Atlanta Regional Office, who is "pinch-hitting" for Austin Regional Director Pedro Garza, who serves Arkansas, but could not be here today.

Thank you, Phil, for your dedication to EDA's mission.

As Secretary of Commerce, my job is to help implement President Obama's ambitious agenda to turn around the economy and put Americans back to work.

The President believes, like I do, that we must renew America's promise by fostering innovation and helping local economies grow ...and that's why I'm in Little Rock today.

I am pleased to announce that the EDA is investing in three Arkansas communities to help them along the path to economic recovery.

The three grants-totaling $5.25 million-will aid economic recovery in Conway County, Jonesboro and Fort Smith.

All of these grants were made possible by a decision last year by Congress to provide the Economic Development Administration with half a billion dollars to assist communities dealing with devastating natural disasters.

What Congress couldn't foresee in 2008, however, is that the hardships visited on Arkansas by nature would be compounded by the man-made trauma of this economic downturn.

In the first half of 2008 alone, Arkansas was hit hard by three natural disasters.

In Conway County, severe storms, flooding and tornadoes resulted in damages exceeding $23 million. Crops, livestock and farming equipment were destroyed.

But it is our strong belief that an EDA grant of $1.5 million will support Conway County's strategy for economic recovery and growth.

The money will help fund infrastructure improvements to May Hope Moose and North Industrial Parks. This will allow Conway County to capitalize on those parks' proximity to the Fayetteville Shale Play, a natural gas reservoir expected to play a critical role in the emergence of a natural gas industry in north-central Arkansas.

Over the next 30 years, the Fayetteville Shale Play will serve as a foundation for new business growth and the creation of higher-skill, higher-wage jobs in Arkansas, all while strengthening the nation's energy supply.

Like Conway County, Jonesboro was hit last year by a series of severe storms, as well as flooding caused by Hurricane Ike. The second EDA investment-a $1.75 million grant-will help Arkansas State University in Jonesboro build the Commercial Innovation Center. Growing technology-focused small businesses is the key to long-term prosperity for the region.

The Center will serve as a tech-business incubator. At full capacity, this facility will contain space for 12 labs with accompanying office space and will play an integral role in the development of higher-skilled, higher-wage technology jobs in Northeast Arkansas

This facility will also coordinate with the Delta Center for Economic Development to assist rural leaders in areas impacted by recent natural disasters.

Finally, in the last year, Fort Smith weathered not only natural disasters but also a significant loss of manufacturing jobs.

Today, I'm pleased to announce that EDA is investing $2 million in the University of Arkansas at Fort Smith to help build the Regional Entrepreneurial and Innovation Resource Center.

The Center will help small businesses address and solve the challenges they face in the wake of economic and natural disasters by offering educational programs and response mechanisms. It will utilize the latest technologies to encourage small business growth and innovation and provide entrepreneurial training and development.

Now, I want to recognize (and possibly embarrass) a few people who are here today to accept the grants on behalf of their communities. If you would, please stand and be recognized when I call your name.

Dr. Robert Potts is the chancellor of Arkansas State University and is with us today to accept the investment on behalf of ASU. Dr. Potts, thank you for all your work in higher education and for joining us today on behalf of ASU.

Next, Dr. Paul Beran, the chancellor of the University of Arkansas at Fort Smith, joins us today on behalf of the university. Dr. Beran also chairs the executive board of the Innovation and Entrepreneurship Center at Fort Smith, an organization that develops initiatives to promote, grow and stimulate entrepreneurship. Dr. Beran, thank you for being with us.

Finally, I want to thank Judge Jimmy Hart who is here on behalf of Conway County. Judge Hart is a member of Conway County's Economic Development Corporation and is vice chairman of the West Central Arkansas Planning and Development District. Thank you, Judge Hart, for your public service and for being with us today.

All three of these EDA investments answer President Obama's call to advance job creation, innovation and entrepreneurship in order to strengthen our economy and renew America's promise of prosperity and growth. And it is my pleasure to be here on his behalf.

Thank you.

And that brings me to another part of the reason I came here today. I want to hear directly from you about the challenges you're facing and your ideas for turning things around.

I've now been on the job a grand total of three weeks, so I can't promise to know all the answers or every detail of every program the administration has embarked on. There are many. . . as you may have heard.

But what I can promise is that if I don't know, I'll get you an answer, and more important, I'll take your thoughts and concerns back to President Obama.

If you will raise your hands, I will get to as many questions or comments as I have time for.

Thank you.

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April 17, 2009 -- Arkansas State University received a shot in the arm Friday, April 17, when U.S. Secretary of Commerce Gary Locke made a trip to Arkansas to announce that a grant for $1,750,500 has been awarded to ASU's Arkansas Biosciences Institute (ABI). The presentation ceremony was held at 10:30 a.m. in the University of Arkansas-Little Rock's Reynolds Center, 2801 S. University Avenue.

The grant, provided by the U.S. Department of Commerce, Economic Development Administration, was presented to ASU Chancellor Robert L. Potts and executive director of the ABI Dr. Carole Cramer, whose vision for ABI included this business incubator facility. The EDA grant goes toward completion of the Arkansas State Biosciences Institute Commercial Innovation Center (ABI-COM) business incubator and is part of the grant funding to assist the economic recovery effort in Arkansas following severe storms, flooding and tornados that occurred in 2008, for regional economic development.

As Secretary of Commerce Gary Locke noted during the presentation ceremony, "Growing technology-focused small businesses is the key to long-term prosperity for the region," and he described the role of ABI-COM, saying "The Center will serve as a tech-business incubator. At full capacity, this facility will contain space for 12 labs with accompanying office space and will play an integral role in the development of higher-skilled, higher-wage technology jobs in northeast Arkansas. This facility will also coordinate with the Delta Center for Economic Development to assist rural leaders in areas impacted by recent natural disasters."

Locke recognized Dr. Robert Potts, chancellor of ASU-Jonesboro, during the ceremony, saying, "Dr. Potts, thank you for all your work in higher education and for joining us today on behalf of ASU."

"ASU-Jonesboro is very pleased today to accept this investment presented by Secretary of Commerce Gary Locke. Secretary Locke and his team are working hard to promote economic development in America, and we appreciate his support for innovative projects such as the ABI-COM proposal at ASU-Jonesboro," said Chancellor Potts. "Also, we appreciate Economic Development Administration Regional Director Pedro Garza and his staff for their confidence in ASU's role in the economic future of Arkansas, and for their help to seek this grant.

"We are also grateful to Senators Blanche Lincoln and Mark Pryor and Congressman Marion Berry for their efforts to support the creation of this commercial innovation center in the Arkansas Biosciences Institute on our campus."

Chancellor Potts, along with Dr. Cramer, Dr. David Radin (Commercial Innovation Director at ABI), Alan McVey (executive director of the Delta Center for Economic Development), Dr. Michael Dockter (associate vice chancellor for Research and Technology Transfer), Dr. Greg Phillips (dean, College of Agriculture and Technology), and Mark Young (President and CEO Jonesboro Regional Chamber of Commerce), proposed the incubator (ABI-COM) project to Arkansas Senators Blanche Lincoln and Mark Pryor and Congressman Marion Berry. The long-term goal is to enhance the health and well being of Arkansans.

"This is great!  ABI-COM is a high-tech business incubator. It nurtures start-up companies and attracts new businesses. ABI researchers are making discoveries that could impact agriculture, renewable resources and human health," said Dr. Cramer. "The ABI-COM really enables Arkansas to directly benefit from its investment of Tobacco Settlement funds in the Arkansas Biosciences Institute.

"Whether it is plants that can clean up toxins, materials that teach damaged nerve cells how to regrow, chemical-sniffing sensors, or systems to 'grow' anti-aging plant chemicals and enzymes needed for bioenergy, there is a lot of exciting science happening in ABI," continued Dr. Cramer. "EDA's investment in the ABI-COM business incubator is really important for translating these discoveries into products and businesses that impact our agriculture, health and economy."

The tech-centered business incubator will aid in moving new technologies and scientific knowledge developed at ASU and private sector companies into practical products and services that will directly benefit the health and welfare of the citizens of Arkansas and the nation. The ABI-COM technology business incubator will develop and offer a wide range of business and technical development facilities to its clients. The program will be located on the ground floor of the ABI building.

Dr. Cramer noted that the Economic Development Administration's investment in ABI-COM fosters a long-term vision of promoting regional knowledge-based economic development, puts ASU research and discovery to work.These resources will train regional talent and build intellectual capital, attracting and growing new companies.

"ASU officials in the Delta Center for Economic Development, the College of Business and ABI recognize the long-term economic future of Arkansas is enhanced not just by creating a job but more significantly through the creation and expansion of research and technology-based companies in our area," Chancellor Potts continued. "The jobs created by these companies have the potential to provide a significant boost to the economic development of this entire region of the state. As a research institution, Arkansas State University-Jonesboro will continue to aggressively pursue new opportunities for powering transformational change to our regional economy. This is a major step toward that goal."