ROGERS, Arkansas — The World Trade Center Arkansas (WTCAR) has received a $700,000 grant from the U.S. Department of Commerce’s Economic Development Administration.
WTCAR will use the grant money to support business-focused disaster recovery and resiliency efforts in Arkansas, with international trade expansion for Arkansas businesses in affected counties.
The grant will be matched by $175,000 in local investment.
“We are very grateful for the support the Economic Development Administration is providing Arkansas through this grant,” said Dan Hendrix, president and CEO of the Center. “This partnership with EDA is critical for Arkansas businesses to expand globally resulting in jobs growth and retention.”
Arkansas was battered by record flooding last spring, which slowed the state economy.
In the fall the state was hit with tornadoes, causing heavy damage to homes and businesses in Northwest Arkansas.
Trish Watkins, the Center’s director of grants, finance and human resources, said the grant will expand and maintain jobs for farmers and businesses in the affected counties.
“Over 80% of businesses that export in Arkansas are small business concerns and several hundred are continuously exploring international market expansion every year,” Watkins said. “A significant number of these businesses are in the twenty counties affected and have been impacted by this natural disaster.”
The center is part of the University of Arkansas and its mission is to grow trade and increase Arkansas exports by connecting Arkansas businesses to the world through international trade services.
For information and updates, follow the center on Facebook.