Regional cities approve pursuing new economic development plan

Submitted by The City Wire staff on Wed, 06/23/2010 - 8:24pm.

The newly minted Fort Smith Regional Economic Development Alliance is moving forward with the creation of an economic development strategy that could be ready by September.

More than 30 city and chamber leaders from eastern Oklahoma and western Arkansas met Wednesday (June 23) at the Fort Smith Regional Chamber of Commerce to review the strategy proposal, learn more about website tools for the alliance and to consider options for hiring an executive director for the alliance.

ALLIANCE HISTORY
Efforts at a third attempt to create a regional economic development alliance began with regional meetings conducted by Rob Ratley, Arkansas manager for OG&E and chairman of the Fort Smith Regional Chamber of Commerce Economic Development division, and Fort Smith chamber President Paul Harvel. They began meeting earlier this year with chamber and community leaders in cities and chambers in LeFlore and Sequoyah counties in Oklahoma and Crawford, Franklin, Logan and Sebastian counties in Arkansas.

Those meetings resulted in the formation of an alliance that gave all member cities two votes. The regardless-of-size voting structure helped convince smaller communities in the area that the alliance would not be dominated by larger towns. On May 3, an executive committee for the alliance was formed, with Harvel serving as the interim executive director in addition to his chamber duties. Also on the executive committee are: Ratley, chairman; Fred Williams (Van Buren), vice chair; Lundy Kiger (eastern Oklahoma), vice chair; Jerrod Yarnell (First National Bank of Paris), treasurer; Kay Johnson (superintendent, Greenwood Public School District); and, Linda Hixson, (Paris Chamber of Commerce).

THE PLAN
Del Boyette, principal with Little Rock-based Boyette Strategic Advisors, was introduced by Ratley and Harvel as the person they thought should conduct strategic analysis for the alliance. Harvel noted that Boyette had conducted the targeted industries studies for the Arkansas Economic Development Commission and the Oklahoma Department of Commerce. Boyette was the AEDC director between 1993-1997, and has also served as the deputy commissioner for economic development of the Georgia Department of Industry, Trade and Tourism.

The primary message Boyette presented Wednesday was “to compete globally, you must cooperate regionally.” He said regional cooperation allows for cities to share expenses and resources, maximize leadership resources and provide a broader range of options for consultants who help companies find places to locate new operations.

“From a site selection perspective, numbers are important ... and a regional alliance can deliver those (numbers),” Boyette said.

He also said the three keys to regional economic development success are that community leaders “embrace regionalism,” that they find a development niche and they support entrepreneurship and innovation.

“A region and its leaders can’t close the door on entrepreneurship and innovation,” Boyette explained. “That’s critical to economic development today.”

Boyette said the process pursued for a new strategy would include:
• Initial assessment;
• Interviews and discussions with key people and groups;
• Online surveys;
• Site location consultant input;
• Summary analysis and presentation to communities; and,
• Progress reports.

The plan would likely be a “three-year blueprint that could be extended to five years,” Boyette said. The blueprint would include 5-7 economic development targets and “niche opportunities” for job growth. It would also include suggested improvements required to become more competitive. The improvements, Boyette noted, could come in the areas of workforce development, infrastructure, incentives and the overall business climate. He also said it would include an outline on how the regional alliance could work together internally and externally with entities like the Arkansas Economic Development Commission and the Oklahoma Department of Commerce.

PLAN APPROVAL
Harvel said the AEDC has agreed to pay one-third of the cost — estimated to be less than $100,000 — of strategic plan development. He told the group he was confident other financial support would soon be in place for the remainder.

“We have to do it,” Fred Williams, Van Buren resident and owner of a business based in Fort Smith, said during open discussion of Boyette’s proposal. “If we want to work regionally in economic development, we have to do this. ... We have to move this forward.”

Yarnell, with First National Bank of Paris, moved that Boyette’s proposal be accepted. Fred Romo, head of the Ozark Area Chamber of Commerce, seconded the motion and it was approved unanimously.

Alliance members also approved the interim use of “Fort Smith Regional Economic Development Alliance” as the group’s name. Part of Boyette’s work is to determine if the name will be the best fit for future marketing and other elements of the strategy.

Alliance members also agreed to initially hire a part-time executive director. Harvel would not say if a specific person is under consideration.