TheatreSquared announced that 90% of the new building’s funds have been raised.
More than 200 supporters of TheatreSquared’s campaign gathered in the company’s near-complete, state-of-the-art new home on Saturday for a black tie celebration as the company announced the new milestone.
Members of the Northwest Arkansas delegation to the Arkansas State Legislature were in attendance as Senator Jim Hendren shared news that Governor Asa Hutchinson had authorized a $2.9 million funding commitment from the State of Arkansas’s rainy-day fund, in recognition of the project’s substantial economic development and quality of life contributions to the state.
Todd Simmons, CEO and vice chairman of Simmons Foods and a member of TheatreSquared’s Our Next Stage Committee, said the investment reflects how the state and region have come to recognize the valuable role the arts play in the local economy, workforce retention, and quality of life.
“We are sincerely grateful to Governor Hutchinson and the State of Arkansas for helping us reach this crucial milestone,” said Simmons. “Not only has TheatreSquared become an anchor cultural institution for those who live and work in Northwest Arkansas, but they also bring performances and programs to 70 schools across our state.”
TheatreSquared had established a $9 million public funding goal as part of its $31.5 million project budget to fund construction.
TheatreSquared now enters the final phase of the Our Next Stage Campaign as it seeks to raise both the remaining 10% of project funds and to establish a new capital reserve fund to help sustain the company’s artistic and educational programs.
The new TheatreSquared is an architecturally significant new theatre at the corner of Spring Street and West Avenue in downtown Fayetteville.
The state-of-the-art complex will open its doors on August 8.