“Arkansas Governor Asa Hutchinson attended a reception Friday in Ashdown as Little River County introduced their new Intermodel and Economic Development Director Vickie Williamson. Arkansas experienced its lowest unemployment rate in history recently, and 70,000 new jobs have been created since Hutchinson took office in January 2015. Governor Hutchinson says that economic development is his top priority, because it directly impacts everything else the state does.”
“Governor Hutchinson was complimentary of Little River County. He says Ashdown has the logistics like rail, river, and highways to be a hub for Southwest Arkansas.”
“The Governor also touted Opportunity Zones in a community to attract investment dollars, as investors can use the tool to delay paying capital gains taxes. If the investment in an Opportunity Zone is held for ten years, the capital gains tax goes away. There is an Opportunity Zones available in Little River County, across from the Domtar paper mill. There are only 85 Opportunity Zones designated in Arkansas. De Queen, Mena, and Nashville also were selected for Opportunity Zones.
Governor Hutchinson stressed that a community should have land identified and available, plus a well-documented workforce ready in order to recruit industry.”
“Finally, Governor Hutchinson encouraged Arkansans to think globally. With the Natural State’s agriculture exports and overseas retailing, Governor Hutchinson said that Arkansas truly is doing business globally.”