UALR magazine
Spring/Summer 2007 • Vol. 3 No. 1
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Accelerate Arkansas
By Tonya Oaks Smith
As one of the top research and development areas in the world, California’s Silicon Valley placed American innovation on the 20th century map.
But Silicon Valley didn’t spring up unaided and overnight. Beginning with U.S. Navy research and technology facilities that responded to the government’s needs during World War II, the San Francisco Bay area gradually grew. Stanford University countered its own growing pains with the development of a world-class research park. Geniuses who wanted to make a buck from their intellect came calling and created their own piece of the American dream, starting companies that would eventually create substantial wealth.
Government entities, private businesses, universities, and determined individuals worked together to create the transformation that continues to this day in Silicon Valley. So why couldn’t that newer model of economic development be recreated — right here in Arkansas?
A group of volunteers from throughout the Natural State — members of Accelerate Arkansas — gathers regularly to ask that very question of government, education, and business leaders looking for ways to encourage knowledge-based business development. In the 2007 session, Gov. Mike Beebe and lawmakers approved $30 million in appropriations for initiatives and programs supported by higher education leaders and Accelerate Arkansas as being integral to developing knowledge-based businesses in the state.
As a nonprofit group, Accelerate Arkansas aims to provide leadership so the state is better prepared for the knowledge-based economy of the 21st century. Members are committed to fostering economic growth in Arkansas through research and development, intellectual property development, commercialization of new technologies, growth of entrepreneurial knowledge-based companies, knowledge workforce, and the evolution of clusters of such businesses.
When we raise the amount of money that people make, it will create additional revenues for the state, providing more dollars for education and economic development,” said Acxiom’s Jerry Adams, who serves as chair for the group. “Establishing this development cycle will take vision, leadership, commitment, and resources in order to accomplish our goals.”
By increasing Arkansas’ per capita income, which was $26,874 in 2005, to the national average of $34,586, state tax revenues would increase by over $2 billion annually by 2020.
The Oklahoma group i2E (Innovation to Enterprise) was founded in 1997 with a goal of improving per capita income for Oklahomans by encouraging the technology-based entrepreneurial economy. The state spent about $25 million on the initiative, while Arkansas spent about $6 million during the same time period. Oklahoma’s per capita income has grown from $19,394 in 1995 to $29,330 in 2005. As a comparison, Connecticut has the highest per capita income ($47,819) and Louisiana has the lowest per capita income ($24,820) in the United States during the same time.
“Places with higher incomes tend to have the knowledge-based industries that will grow and spawn new ones, spurring further growth,” said Arkansas News Bureau columnist John Brummett in a column focused on Accelerate Arkansas’ plans. “Meantime, places without the new knowledge-based jobs, such as Arkansas, can expect to lose ground to the national average. Our state’s need for new-economy jobs is dire. The concept of using state resources for seeding and sustaining those jobs is valid. State government has no clearer purpose than to invest in its people.”
In order to work on Arkansas’ per capita problem, Accelerate Arkansas is focused on developing a three-legged stool of education, politics, and business that will support the state’s attempts to reach that high shelf of greater incomes, a stronger economy, and a more contented populace. Constructing that stool begins with establishing a strong education system for all Arkansans — from the cradle to the grave, according to Adams.
“This is not an issue of having an idea or initiative deficit,” Adams said. “It’s about first getting us to be proud of who we are and get in the minds of our young children to teach them it’s great to be smart and focused on science and math. By maximizing the potential of every child and following those children with high expectations for excellence, they can become our innovators for the future.”
Accelerate Arkansas members also work toward salary equalization for science and math teachers and to fund grants for teachers in those areas. These efforts to “anchor” strong teachers in the classroom — keeping them from taking more lucrative positions with business and industry — will greatly help improve the state’s science and math classrooms. In addition, colleges and universities throughout the state are working to beef up offerings in science and math — preparing workers for future knowledge-based enterprises.
By building a strong workforce, Accelerate Arkansas hopes first to grow more knowledge-based businesses in the state, then to recruit those industries to an area with a well-prepared workforce and great quality of life.
“Arkansas doesn’t need to be an export state with our talent,” Adams concluded. “It’s a responsibility for all of us to encourage our students, state’s leaders, and businesses to invest in Arkansas for the 21st century.”