Economic Development Funding

Economic Development Funding

Local Programs Division
Email: [email protected]
Phone: (501) 435-3255

Program Information

Act 1 of the 90th General Assembly’s Third Extraordinary Session, approved in May 2016, established the Arkansas Highway Improvement Plan of 2016. This plan allocated funding to address the State’s highway construction needs, with a portion of the funding coming from 25% of Surplus funds. When the State Fiscal Year 2019 State Surplus funds exceeded projections, additional funding became available for highway improvements beyond the initial estimates.

In February 2020, the Arkansas State Highway Commission approved Minute Order 2020-004, which created a funding mechanism for projects that promote economic development and competitiveness. This order authorized ARDOT’s Director to allocate up to $15 million from the Act 1 Surplus funds received by the Department to support these projects.

Funding Process

The following procedure outlines how funding is allocated for economic development projects on the State Highway System:

  • A letter from the Arkansas Economic Development Commission requesting the release of funds for the project.
  • A letter from the Governor supporting the request to release funds.
  • Authorization of funding by the Arkansas State Highway Commission through a Minute Order.
  • Development of agreements between the Department and any necessary agencies to define roles and responsibilities for the project.

Projects

Partnering EntityCompanyImprovementsStatusEconomic Development Funds
Hempstead CountyTysonOverlay Hwy. 195Complete$5,000,000
Little RockAmazonConstruct signals at I-440 rampsComplete$1,000,000
North Little RockAmazonConstruct signals & widen Hwy. 70Complete$2,000,000
North Little RockDollar GeneralWiden Hwy. 70Under Construction$809,900
Morrilton, Conway, Faulkner, Johnson, Pope, Saline & White CountiesGreen Bay PackagingRelocate Hwy. 113Under Construction$2,000,000
Fort SmithOwens CorningWiden Hwy. 45In Development$262,500
Total:$11,072,400

Funding Availability

The current balance of the original $15 million set aside for Economic Development Funding is $3,927,600.

To continue the program, ARDOT’s 2025-2028 Statewide Transportation Improvement Program allocates an additional $5 million annually for Economic Development projects starting in 2027.

Economic Development Funding Flyer