The board of Conway Corp. on Tuesday approved a one-year $100,000 contract with Conway Development Corp. for CDC to provide economic development services.
CEO Richie Arnold of Conway Corp. said the agreement "formalizes and requires that we both understand what’s required to make us more successful in industrial and business recruitment."
According to the contract, CDC would advocate Conway Corp.’s services to new and existing business and handle governmental relations related to job growth, "including solicitation of funds for capital improvements and utility infrastructure."
Arnold said the two would work together to consider the viability of developing 400-acres that Conway Corp. owns where Cadron Creek flows into the Arkansas River as an industrial site. The study would consider what would be necessary to improve the site with utilities, rail access and a levee, if needed.
Brad Lacy, executive director of the CDC said after the meeting that it’s not unique for a utility to invest in economic development.
"This agreement solidifies our relationship. If we do our job well, we will add to the bottom line of Conway Corp. every year," Lacy said.
In other business, the board elected Austin Sullivan chairman. He replaces Scotty Bell who rotated off the board.
Sullivan is a community field underwriter for State Farm Insurance. He is a 1976 graduate of Conway High School and a 1980 graduate of Hendrix College. He played basketball at both schools.
He and his wife, Deleta have two children who live in Little Rock: James and Jameka, and two grandchildren, Azi and Gavin.
Bo Connor is the newest member of the board. Other directors are Randy Crowell, Lori Ross, Bill Adkisson, Brad Hegeman and John Adams.
(Staff writer Becky Harris can be reached at firstname.lastname@example.org or 505-1234.)