$1.5 million given to support business growth in Arkansas

LITTLE ROCK (KATV) — Arkansas is getting $1.5 million in grants to help support business expansion and growth in the Natural State.

The funds come from the U.S. Department of Commerce's Economic Development Administration.

The department says approximately $869,964 will go to the City of North Little Rock for its 6th Street expansion project, which will improve access to retail stores, restaurants, cultural centers and more. The project is expected to create 182 jobs and create lead to $12 million in private investment.

Another $660,000 will go to Cleveland County for improvements to the local water system and supporting the relocation and expansion of a local lumber company and farm. This project is expected to generate more than $5 million in private investment, according to the department.

"The path to a booming state economy is paved with the projects such as the leaders in North Little Rock and Cleveland County envision and execute," said Governor Asa Hutchinson. "These federal grants, which are returning Arkansas money to the state, will boost the economies in North Little Rock and Cleveland County, and further enhance the economic development and job growth we’ve enjoyed over the past four years in Arkansas."

The projects were made possible through efforts by the Central Arkansas Planning and Development District and the South East Arkansas Economic Development District.

Source: https://katv.com/news/local/15-million-given-to-support-business-growth-in-arkansas