Bradley County Economic Development Corp. received its first check from LaSalle Corrections on Monday, along with a deed to 20 acres, it was revealed at the monthly BCEDC board meeting later in the day.
The property had been intended for a regional jail housing Bradley and Drew County prisoners, along with some state prisoners. However, LaSalle pulled out of the agreement and instead agreed to make annual payments of $38,333 for 12 years, totaling approximately $460,000. That amount is intended to pay for a spec building which was on the property but was torn down with the materials sold by LaSalle.
The property reverted to BCEDC but it will take some work to make it presentable to future industrial prospects.
Not including that deal, accountant Bob Milton said the organization had total assets of $938,730. However, still pending is resolution of a $50,000 grant BCEDC made to J&E Food Group for a poultry plant that never materialized. That is still listed as both a liability and asset on the financial reports.
BCEDC receives a monthly lease payment from Sorrells Co. Another lease is still pending with Scott Richardson. The organization also has $16,410 in its membership account. A $90,000 CD was renewed with First State Bank.
Also during the meeting:
- VFW Commander Billy Burton, John Little of Bradley County Veteran’s Museum and BCEDC Chairman Dr. Bob Smalling, who serves as chairman of the Boys State/Girls State committee, discussed the process by which 10 youths were selected to represent the county at respective events.
Emma Mann, one of the Girls State delegates, spoke about her experience at Harding University. She was elected as an alderman and county clerk, plus served as a member of the Federalist Party.
“It is teaching young women to get out there and that they can be elected,” she said. Mann said she was particularly impressed by state Sen. Joyce Elliott who met with several of the girls in the Governor’s Office.
- Board member John Gavin, who is the Bradley County Extension Service staff chairman, discussed this year’s tomato harvest. “Everybody diversified into other produce,” he said.
He noted that this spring was wet and cool, which resulted in tomatoes being harvested later. There was good demand for tomatoes, which averaged about $15 a box. However, the extreme heat later this summer took its toll on fruit quality. At the end of the harvest, about 35-40 percent of the crop was lost. However, he said tomatoes account for about a $10 million impact on the county.
- Banks Mayor Keeton Hudson said his town was demolishing the old high school this week. Fiber optics projects are wrapping up. A new fire truck was purchased and the foundation is being laid for a new fire station. He said the town received four grants, including one for a walking trail.
- Smalling reported on Southeast Arkansas Regional Intermodal Facilities Authority. He said a road connected to the railroad tracks is being staked out and will be built with the cooperation of the Bradley and Drew County judges.
He also gave more details on a huge economic prospect which could total a $250 million investment for use of 100 acres. He said the prospect had met with area loggers to get agreements for enough wood for the project. He said the prospect had offices in St. Louis, Minneapolis and South Dakota. It will result in an initial 70 jobs in the high-tech business. It may take about two years before the project is completed.
- Bradley County Chamber of Commerce Executive Director Terrie White said two ribbon-cuttings for new businesses were held recently. Another business has been purchased on Main Street. Several area cities have asked for information.
- Smalling said a lease of some of the Griggs Property is still pending with Scott Richardson.
Top photo: Emma Mann speaks to the BCEDC. Photo by Tim Kessler.
