A Northwest Arkansas city is offering incentives in order to recruit future businesses.
Springdale is located right in the middle of Northwest Arkansas, but a new protocol hopes to put the city at the top of economic development.
Springdale’s Chamber of Commerce approved guidelines to where it can now provide incentives to businesses – an action only the state used to be able to do.
“So if you are a manufacturing company, you have to have a certain amount of jobs and you have to have a certain number on the payroll,” Bill Rogers from the Springdale Chamber of Commerce said.
“I wouldn’t say it’s more difficult to come here, but it protects our taxpayers because you don’t want to give an incentive to a business that is too much of a risk,” Rogers said.
Bill Rogers says he hopes this first of its kind partnership between the chamber and future businesses will distinguish Springdale as a destination city.
Arkansas Governor Asa Hutchinson signed into law a $97 million plan to cut the state’s top income tax rate.
“The people we are targeting are people who might have options down the road but if you sell your business you can always relocate,” Governor Asa Hutchinson said. “It keeps talent in Arkansas.”
“That’s why they are doing this tax cut because everyone needs to be competitive because we need to be a better place than the surrounding areas,” Rogers said.