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2247 RESOLUTION NO. A RESOLUTION OF INTENT TO SUPPORT ASU MID-SOUTH EFFORTS TO LOCATE AN ARKANSAS SMALL BUSINESS AND TECHNOLOGY DEVELOPMENT CENTER(ASBTDC)REGIONAL OFFICE AT ASU MID-SOUTH FOR ECONOMIC DEVELOPMENT PURPOSES WHEREAS,ASU Mid-South has been approached by ASBTDC about locating a regional office at the ASU Mid-South campus as further defined in attachment; and WHEREAS,ASBTDC is a statewide economic development program that assists entrepreneurs and small business with every aspect of business creation,management and operation and provide; individual and confidential no cost consulting; help business access capital; host education and training events and provide market research services; and WHEREAS, ASBTDC operates its main office at UALR with regional offices at ASU Jonesboro, UA Fayetteville,Arkansas Tech University, Henderson State University, SAU, and UA Monticello; and WHEREAS,the program is funded by a grant from the Small Business Administration and requires a$35,000 annual match which ASU Mid-South is seeking community and business support to offset. NOW, THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WEST MEMPHIS,ARKANSAS,that the City of West Memphis hereby states its intention to support the program and assist in covering the cost of the grant match from the Department of Economic DevelopmenAbg1i 'ngin,022 in an amount as yet to be determined. ADOPTED this day of 020. MA CO MCC ENDON, MAYOR ATTES CITY CLERK Summary of Zoomall Regarding the Establishment of an Arkansas SmallBusiness Technical Center(ASBTC) Regional Office in Crittenden County (http://asbtdc.org Call Participants: Laura Fine,ASBTC Michael Singleton,ASBTC Tracy Brick, Marion Economic Development Mallory Darby,WM Economic Development Phillip Sorrell,WM Economic Development Shane Broadway,ASU System JaNan Abernathy,ASU Mid-South Jeff Gray,ASU Mid-South Debra West,ASU Mid-South ■ Purpose of ASBTC is to assist entrepreneurs, both new and seasoned,with every aspect of business creation, management, and operation. Four main components: o providing individual and confidential, no-cost consulting; o helping entrepreneurs and small businesses access capital; o hosting education and training events on small business topics; o providing market research services. ■ Main office is at UALR. Current regional offices at ASU Jonesboro, UA Fayetteville,Arkansas Tech University, Henderson State University, SAU, and UA Monticello. (Crittenden County currently served from the ASU Jonesboro office,which has a very large service area.) ■ ASBTC is wanting to establish two new 1-person offices—one at ASU Mountain Home and one at ASU Mid-South-to decrease the size of the area served to a more manageable number of counties. ■ The Crittenden County office would serve residents of Crittenden, Cross,Woodruff,St..Francis, and Lee. (Individuals would be residents of or have business interests within that five-county service area. Otherwise,we would have the option to hand them off to the office servicing their county.) ■ The college would provide the space, rent-free, and oversee the hiring and supervision of personnel. ■ The funding to establish an office at ASU Mid-South will be a federal sub-award from a grant through the U.S. Small Business Administration. This sub-award requires a 1:1 ($35K cash) match. ■ That match would be fully funded by ASBTC for the first year(2021)through the use of CARES Act monies. ■ Beginning in 2022,the college, the community, or some(combination of partners would be required to fund the$35K match. o Regional Offices can provide some limited fee for service activities. o Some regions get their Cities or Chambers or Main Street programs to co-sponsor. o Some work with banks and use community reinvestment act dollars to fund. ■ ASBTC would provide all training required for the staff member hired. ■ Continuation is year by year based on program performance, but overall program has been in existence for 40 years. ■ Generally, performance is measured by: o Clients served o Job support provided o New business starts o Capital Infusion ■ Goal is to have this office stood up by the end of the first quarter of 2021. ASBTDC ., t. ARKANSAS SMALL BUSINESS AND # ' # TECHNOLOGY DEVELOPMENT CENTERASBTOC clients increased employment 1more than Small Business Impact Arkansas in Arkansas CONGRESSMAN RICK CRAWFORD Services 1 1 ST DISTRICT clients generated $5.43in new tax revenues for every 2019 Economic Impact $1 invested in the* DISTRICT STATEWIDE 1 t 1 t , obs I • J - 861 2®053 CREATED/RETAINED $12.2 $72.1 ' capital Million Million TOTAL INFUSION of clients rate NEW BUSINESS 35 190 W ® ASBTDC services as 1 , 111 starts LIN, $22 $ INCREASED `Clients reported impact attributable to assistance received from ASBTDC +Results of economic impact study conducted in Million Million sales 2019of201nsurvey ++Results of 2019 customer satisfaction survey ASBTDC Offices JONESBORO LITTLE ROCK Serving-the 1St District Arkansas State University University of Arkansas at Little Rock 870.972.3517 (Lead Center) Laura Miller,Director 501.683.7700 Laura Fine,State Director MONTICELLO. University of Arkansas at Monticello FAYETTEVILLE 870.460.1910 University of Arkansas,Fayetteville Aimee Weaver,Director 479.5755148 asbtdc.org 1800.862.2040 MaryBeth.Brooks,Director . Lori MaldonadoItartedtheArkansas 1ST DISTRICT Following successful projects in Louisiana and Thermography Clinic in Jonesboro.While CLIENTS Mississippi,Dan Processing Inc.wanted to expand its thermography isinot as well known as X-rays or BY I N D U ST RY sand and gravel mining operation to Independence MRI,Maldonadolis working to raise awareness County in 2019.Owners Nicholas Steele and his father of the radiation-free medical screening method. Retail needed financing for equipment,so the ASU ASBTDC The A-State ASBTDC advised Maldonado on �� helped the company obtain a$350,000 SBA 7(a) starting her veteran-owned business and loan and line of credit helped her secure a FORGE microloan. When the opportunity to buy a Medic One Service Mountain Home laundry business Ambulance based in 165 arose,Pam Turner's first stop Jonesboro expanded was to visit her lender, to the St.Louis area who referred her to the .through an Hospitality A-State ASBTDC.With acquisition. the center's help,she Company 74 secured a loan to purchase president Ryan Poly.Clean,assuming ownership of the Kibler worked business in August with the ASU Wholesale & ASBTDC to secure Transportation Following an 18-month renovation, $4.5 million in Shanna and Stan Fretwell opened financing for 24 The Royal on Main boutique hotel the deal. in downtown Batesville in August. The A-State ASBTDC provided startup MAKING A Manufacturing assistance,including market research. DIFFERENCE AROUNDYOUR 51 Mark McClanahan started Pop's Grill DISTRICT in October.The Wynne restaurant created 40 jobs.With the help,of the ASU The FreeArm and the FreeArm Agriculture& ASBTDC he developed a business plan Muscle medical Aevices are the first Construction and obtained a startup loan from Cross two products introduced by Staley 19 County Bank. House LLC of Helena.Founders Misti and Will Staley won the People's Aimee Weaver of the LIAM ASBTDC helped Choice Award at the Delta Demo Day Brandt and Fara Bottoms launch Bottoms Up 2019.The company also participated Flying Service in 2019 and secure a$1.1 million in the I-Fund program,winning SBA 7(a)loan.Located in Gould,the new $61,000.ASBTDC provided the team business created fivejobs. with market research used in its 376 winning pitch and materials. Regional Office M ASU ❑UALR ®UAM I]UAF - Cases ASBTDC welcomes REFER constituents INVITE ASBTDC to CALL ON ASBTDC . opportunities to who are interested in host a small business to arrange visits to assistyou in serving starting or growing 'roundtable or seminar. small businesses in POWERED the 1st District. a business to the the district. nearest ASBTDC. S BJ^ ASBTDCis/undedin part through a cooperative agreement with the •• U.i Sm all Business Administration throught partnership with the ' Universiryo/Arkansas at Little 2 Bock College ofBusineesunation. 45ooth `i 2019 Small Business Programs 216 institutions ofhigherdction. -- UA LITTLE Events Attendees ROCK COLLEGE OF BUSINESS U--Or A—ms.Lmu Roar c • A S B T D C ;� ., .� •. ARKANSAS SMALL BUSINESS AND ■ TECHNOLOGY DEVELOPMENT CENTER IncreasedTDC clients, employment 25.2% morethan averagethe Arkansas Small Business L 411'' Impact n Arkansas se v ices 1 clients generated $5.43 in new tax 2019 Statewide Economic Impact* revenues for every $1 invested in the obs ' program J � � 2,053 CREATED/RETAINED $72.1Ralcap �Million . , TOTAL INFUSION of clients rate NEW BUSINESS ASBTDC services as 190 irl starts L excellentor good. $61 INCREASED 'Clients reported impact attributable to assistance received from ASBTDC +Results ofeconomic impact study conclucted innIIII®n sales 2019 of 2017 clients ++Results of 2019 customer satisfaction survey ASBTDC Offices LITTLE ROCK University of Arkansas at Little Rock 1501.683.7700-Laura Fine,StateDirector Lead Center Serving the State ARKADELPHIA Henderson State Un iversitv1870.230.5184•Brandon Horvath,Director asbtdc.org 800.862.2040 FAYETTEVILLE University of Arkansas,Fayetteville 14795755148•Mary Beth Brooks,Director HOT SPRI NGS Henderson State University 1870.230.5184•Brandon Horvath;Director JONESBO.RO Arkansas State University 1870.972.3517•Laura Miller,Director MAGNOLIA Southern Arkansas University I870.235.4007�JanellMorton,Director - MONTICELLO University of Arkansas at Monticello 1870.460.1910•Aimee Weaver Director RUSSELLVILLE ArkansasTech University. 479.356.2067•Ronda Hawkins,Business Consultant 0 With assistance from ASBTDC,Fayetteville startup AMBOTS won p CLIENTS a$225,000 National Science Foundation Phase I SBIR grant to Following successful projects in Louisiana BY INDUSTRY develop a"swarm"3-D printing platform.ASBTDC also helped and Mississippi,Dan Processing Inc. the company secure an SBIR Matching Grant from the Arkansas wanted to expand its sand and gravel Economic Development Commission. . mining operation to Independence County Retail in 2019.Owners Nicholas Steele and his 'f AG 0 Guidance from the ATU ASBTDC helped the Arkansas Short Line father needed financing for equipment,so G 7 V Railroad/D&R Railroad secure an SBA Physical Disaster Loan to the ASU ASBTDC helped the company get a repair damage to its tracks sustained in the May 2019 floods. $350,000 SBA 7(a)loan and line of credit Service Kevin vin Mounce obtained ! ® 700 a$650,000 SBA 7(a) I Mark McClanahan started Pop's Grill in October, Hospitality loan to open Premier � _ p y Collision with the help of E creating 40 jobs.The the UAF ASBTDC,which ASU ASBTDC provided 388 also advised him market research and on marketing. business planning assistance Wholesale & that McClanahan used to Transportation Q obtain a startup loan from Formerly an online-only Cross County Bank. 105 business,Arkansas Yarn Company added a brick-and-mortar location 0 Manufacturing in Malvern in 2019.Owner Aimee Weaver of the UAM ASBTDC Lord Heiberg attended helped Brandt and Fara Bottoms launch 230 the HSU ASBTDC's Startup ® Bottoms Up Flying Service in 2019 Summit in February,then and secure a$1.1 million SBA 7(a)loan. Agriculture& worked with the center to open Located in Gould,the new business Construction and market her new space. ®Lead Center Regional Office +Satellite Office created five jobs. R ®ASU ATU HSU lie SAU H UAF ©UAM ■UALR 128 0 The HSU ASBTDC helped Air Force veteran Danny and Mary 0 After her business burned in 2017,Christy other Bradley of Royal secure$3.7 million in financing to start Ouei began working on plans to rebuild Crystal Ridge Distillery.The couple conferred with the center with SAU ASBTDC's Janell Morton.-Then she 5 more than a year,receiving market research,financial analysis, participated in SBA Emerging Leaders,which and business planning assistance.The project created`40jobs. inspired her to focus on a new business idea. Ouei opened Mule Kick in June with 20 0 Harrison Family Pharmacy opened in July in Haskell. employees.Morton worked with Ouei to ASBTDC assisted owner Ray Bob Harrison with his business develop her vision for the unique college- 21052 plan and market research."The information the ASBTDC town eatery and find financing for the provided relating to area growth,demographics,and traffic project.She also helped with budgeting, data were confirming factors that we could indeed put a human resources questions,organization successful pharmacy back in Haskell,Arkansas,Harrison said. management,and marketing. Cases ASBTX welcomes REFER contacts INVITE ASBTDC to CALL ON ASBTDC opportunities who are interested in host a small business to speak about POWERED BY to serve the people starting or growing roundtable or seminar. entrepreneurship or r--" ofArkansas. a business to the small business. SBA nearest ASBTDC. LLSSmall WYneu ASBTDCis fundedin part through a cooperativeagreement with the U.S.Small Business Administration through a with UniveniryofArkaofArkansasatLiLittle P, Rock CollegeofBusinessandother `i 2019 Small Business Programs 216 2,450 institutions ofhighereducation. UA UME Events Attendees ROCK COLLEGE OF BUSINESS U--or A—sns.Lm Roar