FAYETTEVILLE — A new economic analysis has found that the Arkansas Research and Technology Park has had an economic impact of more than $522 million since construction began in 2003.
The analysis was conducted by the Center for Business and Economic Research at the University of Arkansas. The research park, managed by the University of Arkansas Technology Development Foundation, includes several facilities that support university research and technology-based economic development.
At the end of its fiscal year on June 30, the research park included 38 public-private affiliate companies and 196 employees, resulting in a total employment impact of 385 jobs statewide. Based on expenditures by the park's affiliates for fiscal 2014, the research park generated $54.7 million in economic activity statewide and $1.8 million in state and local taxes for the year.