The following is a press release from the AEDC:
LITTLE ROCK, Ark. (August 27, 2024) – The Arkansas Economic Development Commission (AEDC) announced today the development of 75Strong, a new statewide program designed to train economic developers and community leaders on entrepreneurship and small business development and to provide direct technical support for small businesses throughout Arkansas.
“Arkansas is the state where a man took a small town five and dime and turned it into the largest company on earth,” said Governor Sanders. “Entrepreneurship is part of our DNA, and I’m proud to help Arkansas’ small business owners build the great companies of the future. 75Strong will play a key role in that and connect local innovators with the support they need.”
As a statewide program, 75Strong will connect all regions in Arkansas – especially rural and underserved areas – with entrepreneurial ecosystem support. The program will connect rural communities and businesses in these areas with resources and support, in addition to providing direct support to businesses within and related to Arkansas’ target industries.
“At AEDC, supporting the growth of small businesses and entrepreneurs is one of our major areas of focus, and the 75Strong program will play an important role in helping these businesses succeed in Arkansas,” said Clint O’Neal, executive director of the Arkansas Economic Development Commission. “This new program will provide the tools, resources, and training to help community leaders across the state grow their small business and entrepreneurial ecosystems – which will lead to more jobs and investment in the years to come.”
The mission of the three-year program is to empower Arkansas communities through entrepreneurship by equipping and deploying community leaders throughout the state as Entrepreneurial Developers, providing business-building support to local businesses, and organizing a statewide network of entrepreneurial support resources.
”Equipping our economic developers, chamber executives, and community leaders with a strong foundation for growing small businesses and entrepreneurs in their communities is a must for our entrepreneurial development strategy.” said Esperanza Massana Crane, director of AEDC’s Small Business and Entrepreneurship Development Division. “The 75Strong program will provide communities in Arkansas – especially rural communities – with the tools to help these businesses succeed and create more economic opportunities in their regions.”
Key outcomes for the program include selecting 30 to 50 economic developers to pursue and receive the Entrepreneurial Development Professional (EDP) certification from the International Economic Development Council, selecting 20 communities to conduct Community Assessments through the Venture Ecosystem-Building Canvas, create and launch Entrepreneurial Development Strategic Plans for 10 or more communities, and launch Entrepreneurial Development Steering Teams for five or more communities.
As part of the Business Building Curriculum segment of the program, Entrepreneurial Developer participants will each recruit two to three companies meeting pre-determined criteria that will participate in the 12-month business-building curriculum. These companies will complete customized strategic growth plans with an expectation of increasing revenue and creating jobs.
“To create sustainable economic growth across our entire state, we must be vigilant about directly supporting the growth and development of rural entrepreneurs and small business owners,” said Jeff Standridge, managing director of the Conductor. “We are so excited about the long-term impact the 75Strong program will have on local communities throughout Arkansas as we place an intense focus on equipping and connecting a new cadre of Entrepreneurial Developers, and providing direct business-building support to local businesses.”
The program will be managed by Startup Junkie and Conductor, in partnership with AEDC’s Small Business and Entrepreneurship Development Division.
