The University of Arkansas Fort Smith has been awarded $130,000 for the fiscal year 2023 to establish and operate an Economic Development Administration (EDA) designated University Center.
This announcement comes as part of a broader initiative by the U.S. Economic Development Administration, which is providing a total of $16.5 million in grants to colleges and universities across 14 states. These institutions are selected to leverage their assets, promote innovation, and strengthen regional economies.
The EDA’s University Center grants, as five-year awards, will allow institutions like UAFS to receive annual funding to support programs focusing on economic development planning and implementation benefiting underserved populations in the region.
Kendall Ross, executive director of the UAFS Center for Economic Development, expressed excitement and gratitude for the award, stating, “This funding is a testament to our commitment to drive positive change and sustainable growth in the Fort Smith region. Leveraging this grant, we’ll collaborate closely with our communities and partners, engaging in real discussion to develop robust and lasting solutions that will uplift our local economy and improve quality of life.”
The official start date of the award is October 1, 2023, and planning is already underway at UAFS to focus on three primary initiatives: advancing high-growth entrepreneurship, developing a high-skilled regional workforce, and increasing the resiliency of the western Arkansas & eastern Oklahoma region.
The award will help the CED expand its ability to serve marginalized communities in the River Valley, a noted commitment of the EDA that was reflected in its 2023 selections, which include Historically Black Colleges and Universities, Native American-Serving Nontribal Institutions, Hispanic-Serving Institutions, and Minority Serving Institutions.
“The Economic Development Administration is dedicated to boosting regional economies through place-based, locally-led strategies,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo in a press release. “EDA is pleased to support the institutions designated or redesignated as University Centers as they help us invest in America’s future and grow opportunities to increase equity in American research institutions. Their existing university resources will be bolstered to build regional economic ecosystems that support resiliency and inclusiveness.”
UAFS was designated an Emerging HSI by Exelencia in Education in 2022.
About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation’s regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.
About the University of Arkansas – Fort Smith: Founded in 1928, the University of Arkansas – Fort Smith has served the citizens of Arkansas for nearly a century, empowering the social mobility of its students and fostering the economic growth of the River Valley. Through dynamic academic programs, innovative research and development, and robust community partnerships, brings the power of education to the nearly 6,000 ambitious students who call it home. A commitment to experiential learning means UAFS students are ready to enter their careers the day they cross the commencement stage, and a dedicated body of faculty and staff who truly care prepare them for success at every stage of life.
