The Northwest Arkansas Development Strategy is the blueprint for growing jobs and creating economic opportunities in Northwest Arkansas into the next decade. The strategy reflects the input from thousands of Northwest Arkansans and the best thinking of regional and national development experts. It sets forth a proactive approach to community and economic development.
In 2011, the Northwest Arkansas Development Strategy was released and efforts to implement the plan are underway throughout Northwest Arkansas. The process, strategy and recommendations are summarized in a 12-page Executive Summary (Greater NWA Development Strategy – Executive Summary.pdf).
Key reports include:
- Competitive Assessment - a report card on how Northwest Arkansas stacks up
- Target Cluster Analysis - an identification of the eight target job growth sectors that offer Northwest Arkansas the best potential for growing jobs and economic opportunities over the next several years
- NWA Regional Development Strategy - a summary of specific recommended actions to ensure that Northwest Arkansas remains economically competitive into the next decade
About the Strategy
The corporate success stories, large-scale public works projects and personal goals achieved are all part of Northwest Arkansas’ rich history. Leaders recognize, however, that in the current economic climate, no region is immune to global and national realities. Competition for quality jobs is fierce. Many metropolitan areas around the country have developed well-funded and highly aggressive regional programs to help compete in the 21st Century, and Northwest Arkansas will do no less.
Leaders in Northwest Arkansas decided to take a proactive approach to community and economic development by providing the elements necessary to sustain and attract business and, in order to achieve these goals, work together as a region.
In early 2010, regional leaders began to chart the course for continued success. The Northwest Arkansas Council, local Chambers of Commerce and other regional organizations, spearheaded an effort to create a regional growth and development plan. Thousands of Northwest Arkansans provided input and suggestions during a strategic planning process and the resulting Greater Northwest Arkansas Development Strategy is our blueprint for a successful future.
A Steering Committee of nearly 30 regional business and civic leaders was established to develop a strategy for taking Northwest Arkansas to the next level. The Committee set four key goals to guide their work:
1. Assess the Northwest Arkansas economy and its evolution over time focusing on:
- Regional employment
- Economic quality of life
- Regional economic growth over the next 10 years
2. Benchmark Northwest Arkansas’ current economic strengths and weaknesses against the state of Arkansas and other high performing regions of the United States.
3. Assess international economic trends and opportunities, identifying where Northwest Arkansas’ regional strengths intersect.
4. Develop a plan that produces growth in key sectors that will lead to sustained and high-quality job creation.
In January 2010, Market Street Services, a nationally recognized consulting firm, was engaged to help facilitate the strategic planning process in Northwest Arkansas. Market Street Services led a process that melded rigorous research and data analysis with comprehensive input and feedback it received from thousands of local residents.
Through that process, four goals were identified to achieve the Strategy:
- Infrastructure
- Regional Economic Development
- Community Vitality
- Educational Excellence
Work groups, comprised of local leaders and numerous volunteers, are addressing each of these areas to specify goals and objectives, achievement metrics, and appropriate timeframes for completion. Reports from these groups will be included here as they are published.