In spite of the constantly wavering national economy, Mississippi County has done very well compared to other areas of the country, according to Cliff Chitwood, Mississippi County economic developer.
"We have, thus far into this recession, been very fortunate," he says, "that none of our major employers have shut down."
His office has been constantly working to bring in new industries, because the nature of economics is that if you aren't moving forward and bringing in new companies on a consistent basis, the area's economy starts to die, he said. And companies in Mississippi County are still hiring, which is a rarity. Aviation Repair Technologies currently has 250 employees and will continue to hire until they reach 300, and Tenaris is also still hiring, he said.
New businesses coming into the county were discussed at Wednesday's meeting of the board of the Great River Economic Development Foundation, which took place at Osceola City Hall.
The board voted to recommend that the Quorum Court grant a $150,000 loan at at 3 percent interest to Good Earth Industries, a wood recycling company which uses by-products from the steel industries. The company is looking to open a location in north Mississippi County and plans to hire 25 people. The loan would be matching a loan for the same amount and at the same interest rate put up by the Arkansas Economic Development Commission.
Also being recommended is the granting of $100,000 to Arkansas Northeastern College for the Existing Workforce Training Program. The program supplements costs incurred by companies to train their employees.
Currently needing the funds are Aviation Repair Technologies and Beckmann Volmer, a new company in the wind turbine field which is breaking ground in Osceola. In the program, when area industries need to train their employees, the county's funds pay one-fourth of the cost, the state economic development commission pays one-half, and the industry need only pay the remaining one fourth of the costs.
Chitwood also announced that Mississippi County is still in the running to possibly receive two new industries, one in steel and one in distribution.
sharris@blythevillecourier.com