Union County Industrial Board, Arkansas
Economic Development Strategic Plan
The Challenge
The geography of South Central Arkansas has endowed El Dorado and Union County with an abundance of natural resources, including timber and oil. Its geographic location, ironically, has become the primary obstacle to the development of Union County’s economy in recent decades. Located far from Arkansas’ capital and straddling the state’s southern border, El Dorado and Union County are remote to much of Arkansas and growing metropolitan areas. Fortunately, however, Union County’s engaged citizens and leaders have consistently demonstrated a commitment to the area reaching its full potential. Evidence for this dedication can be seen in the successful revitalization of El Dorado’s downtown and recent progress toward the expansion of US 167. Despite being the headquarters for a Fortune 500 company, Union County—much like other rural areas—has struggled to retain and attract talent. Facing this important challenge with specific strategies will be imperative for Union County’s long-term economic vitality. The continued loss of its youth could lead, not only to “brain-drain,” but ultimately to the overall decline in the county’s workforce and population.
The Approach
The El Dorado Chamber of Commerce and the Union County Industrial Board (UCIB), hired TIP to assist developing a plan for leveraging the county’s most strategic opportunities and addressing its critical challenges. During a six-month planning process, TIP worked closely with the chamber/UCIB and area business, government, and civic leaders to better understand the county’s assets. The process also included a review of regional employment and demographic trends, as well as tours of area business sites. TIP also collaborated with the Institute of Economic Advancement at the University of Arkansas at Little Rock to better understand local clusters of economic activity and Union County’s retail trade area.
The Outcome
Working closely with the chamber/UCIB, TIP developed a comprehensive plan for leveraging Union County’s strongest assets. The leading vision for the plan was the solidification of El Dorado’s position as a regional center for South Central Arkansas by continuing to support the on-going redevelopment of its vibrant downtown area and strengthening the county’s healthcare and retail sectors. The plan identified specific opportunities for expanding an emergent base of entertainment and cultural activities in downtown while also strengthening its linkages to nearby SouthArk College. Another key component of the plan was the expansion of outdoor recreational amenities and the support of new residential developments with a goal of transforming El Dorado and Union County into a regional destination for entrepreneurial talent and retirees. In addition to these non-traditional recommendations, the plan presented Union County with a target industry recruitment strategy and marketing campaign. To support the recruitment of new prospects, the plan addressed the county’s need for an expanded and modern business park. After the completion of this process, the citizens of El Dorado voted to pass a new economic development sales tax to support this plan.
Don Wales Executive Vice President Union County Industrial Board 111 West Main El Dorado, AR 71730 870.863.6113 donwales@suddenlinkmail.com
