Conway, Arkansas

Organizational Assessment and Implementation Plan

Located in the Little Rock metropolitan area, Conway is a thriving mid-sized city with small town charm. Conway is home to three colleges and boasts one of the most educated populations in the state. Its high quality of life, young population, relatively low cost of living, and historic downtown have made Conway one of the fastest growing communities in Arkansas.

The primary economic development group for the area is the Conway Development Corporation, a not-for-profit organization founded 50 years ago to promote the industrial and economic growth and development of the City of Conway and Faulkner County. The Conway Chamber of Commerce serves as a primary partner with the Corporation.

Through decades of wise land investment, the Conway Development Corporation has led many successful projects for the community; its most recent accomplishments include the location of a Hewlett Packard technology center to that will employ up to 1,200 highly skilled workers, and the establishment of Southwestern Energy’s regional headquarters. However, to sustain the community’s competitive advantage and develop in this changing economy, the Corporation must continue to challenge itself as an organization to think of economic development beyond the realm of real estate.

 

Market Street guided the Corporation in closely examining its choices for the future and reviewing its future needs. Market Street analyzed its structure, funding model, and relationship with the local partnering organizations and the private sector, and conducted an inventory of the Corporation’s land and historical use. After Market Street’s assessment, the Conway Development Corporation had a new organizational and implementation plan to proactively increase its community’s prosperity through diverse strategies.