July 6 Update
SPOTLIGHT ON ARVEST
One of the greatest allies of HAMMRC has been Arvest Bank. Arvest has a branch in every town in the HAMMRC corridor. Despite the size of a community's population, their dedication to the region shows they are true partners to the citizens HAMMRC serves.
Not only are they a local bank with an encompassing service area, but they are also one of the world's best banks. Arvest ranks 20th globally, according to the Forbes article "The World's Best Banks" for 2023. It is impressive and advantageous to have one of the world's top 20 banks in our region and have a close partnership with them.
President of Fayetteville Region for Arvest, Craig Shy, said this about HAMMRC: "Arvest is proud to support HAMMRC and its work in the communities we serve along the Highway 62 corridor. We are committed to the communities and appreciate the efforts of HAMMRC to help build economies and bring jobs to this region."
INAUGURAL HONOR FEST TO RECOGNIZE VETERANS, MILITARY FAMILIES, AND FIRST RESPONDERS
Please join us to celebrate the inaugural Honor Fest, created to recognize veterans, current military, military families, first responders, and introduce them to our community
The City of Bentonville will host its inaugural Honor Fest. Honor Fest is a week-long festival recognizing veterans, current military, military families, first responders, and their communities.
On July 12-13, Walmart will host a two-day entrepreneur and job fair event for veterans, military spouses, and first responders as well.
During the week, there will be opportunities to engage in thoughtful service projects, exciting networking opportunities, and friendly athletic competitions. There will also be a Brothers Osborne concert, a movie screening, and more! Experience all Bentonville has to offer as we honor this community.
For more information and a list of events, click the button below.
CALCULATING YOUR LABORSHED ANALYSIS
Mark Goodman, Economic Development Director for the Fayetteville Chamber, demonstrates the value of data analysis to the audience at the May 12th board meeting.
Economic development is both a process and a practice. The process refers to how our greater economy generally works through the movement of people and money and everyday transactions happening between businesses, government, consumers, etc. Some local and regional economies are humming along and doing well. Others are not. The practice of economic development refers to the role we play as leaders, both elected and otherwise, in positively impacting the greater process. What plans and policies, relationships, and initiatives are we employing to positively affect the process of economic development?
Last month we discussed the regional nature of economic impact, where the impact of a project, whether it be a new, existing, or lost employer or activity, is realized to a great degree where its workers live and not necessarily where they work. Every day, employees take their paychecks home with them and spend their money in locations well beyond where they work. This is the ultimate measure of regionalism from an economic development process point of view.
Just as a river’s “watershed” represents from which geography it receives its water supply, where workers come from to work at an employment destination is termed a labor market, or “laborshed.” This article examines community laborsheds and the benefits of understanding the data around our labor markets.
Click the link below to read the rest of Mark Goodman's article on laborshed.
UPCOMING EVENTS:
Next board meeting will be July 14th, 10 am, at the Cherokee Nation Outpatient Health Center.
Address: 19600 E Ross St, Tahlequah, OK 74464 (see map below)
ENERGIZED LEADERS
Jaiden Ingram of TRDA being presented her certificate for completing the Energizing Economic Development by Wayne Mays.
Lincoln City Council Member Mary West holding her certificate for completing the AEP/SWEPCO training.
Our HAMMRC Leadership Team has regularly encouraged community leaders to complete the free AEP/SWEPCO online course - Energizing Economic Development (see article below for how to enroll in the program.) For familiarization and to verify the quality of the course, Hank Hoggard and Wayne Mays completed the training in 2022. We became enthusiastic promoters of the course for stakeholders in our HAMMRC communities. We are pleased to announce that Jaiden Ingram and Mary West recently completed the program.
Mary had this to say, "I must say it was definitely worth my time. I plan to encourage everyone on the council and planning commission to take the time to complete the course."
We salute these committed champions for Energizing Economic Development. Please let us know when you complete the course.
Farmington Mayor Ernie Penn presenting AEP/SWEPCO's Investor plaque to Bradley Hardin of AEP/SWEPCO.
LEARNING OPPORTUNITY AND VALUE FOR MEMBERS
Thanks to our HAMMRC Investor AEP/SWEPCO, we have access to valuable economic development training for our community leaders. AEP/SWEPCO’s new online course, “Energizing Economic Development,” can be a valuable tool for small communities like those in our corridor; most rely on city officials or volunteers to lead their ED efforts. This high-quality, free course will fit everyone’s budget. After completing the course, which takes between 3 and 4 hours, Fayetteville Chamber of Commerce/HAMMRC staff members Wayne Mays and Hank Hoggard agree that it contains time-tested, proven steps to success. "From the 'do’s and don’ts of marketing' to a 'Business Retention and Expansion Program,' this course is on-target and provides a checklist and roadmap for new or experienced ED leaders,” Mays said.
Click the button below to access and register for the free course.
HAMMRC appreciates this timely contribution to our success. Contact Mays for more information or questions.