WASHINGTON An Arkansas-based group enlisted the help of Washington think-tankers Tuesday on how best to kick-start economic development in the Natural State.
In a day-long meeting, Arkansans picked up tips on using federal incentives and programs to benefit the state economically.
The group keyed on education in Arkansas, where college graduation rates are among the worst in the nation.
College graduates who stay in the state will boost the economy, said Sherece West, president of the Winthrop Rockefeller Foundation.
Federal revolving loan funds, or corporate-backed programs that offer scholarships to Arkansas students, may entice more Arkansans to enroll and stay in school, she said.
"We as a state have to figure out why our young people aren't graduating college," West said.
She said economic developers hope to see communities or corporations emulate the "El Dorado Promise," a program that offers full tuition college scholarships to graduates of El Dorado public schools. The scholarships are funded by an endowment from Murphy Oil Corp., headquartered in that city.
The foundation headed by West coordinated Tuesday's event that drew participants from federal economic development organizations and grassroots groups. One of the goals of the foundation named for the late Arkansas governor is to improve the economy and fight poverty in rural Arkansas.
Participants exchanged ideas 1,000 miles away from the state, with some of the 15 in attendance sipping on Perrier water or Starbucks coffee. The event at the nonprofit Brookings Institution ended with a wine-and-cheese reception.
West said the Brookings Institution paid for the refreshments. The privately funded Winthrop Rockefeller Foundation had minimal costs, she said.
"We wanted to have a brain trust that can help us, engage us and inspire us," West said.
Arkansas' economic picture is bleak, according to data from the Corporation for Economic Development. The state earned an "F" for financial assets and opportunities and a "D" for financial security and business development.
West said she hopes Arkansas residents become more financially secure this spring when federal rebate checks of up to $600 per taxpayer begin to arrive in the mail.
The extra money can be used to pay down credit card bills or even help with transportation, an essential element for anyone seeking to improve education.
"Transportation is a huge challenge," in Arkansas, she said.
Public transportation options are extremely limited in the state, especially in rural areas.
Participants Tuesday looked for ways to get federal help for transportation and discussed an ambitious economic outlook.
Conway resident Jerry Adams of Accelerate Arkansas, a group of in-state business leaders, said the state needs better broadband technology, and wondered if federal help might be available.
The stated goal of Accelerate Arkansas is to boost the state's median per capita income to the U.S. average by 2020. The state now ranks 48th in per capita income with a $27,935 average.
To push income higher would result in a $2.4 billion tax windfall for the state, Adams said.
