Caddo Mountain Spring Water LLC has secured a little more than $1 million in incentives from the Arkansas Economic Development Commission to build a water-bottling plant, the Hot Springs Village-based company said Monday.
Half of the funds come in the form of a community development block grant. One-fourth of the money comes from Advantage Arkansas, which offers incentives for job creation, and the remainder comes in the form of the state's Tax Back program, which helps reduce the cost of new equipment, the company said.
Brandi Hinkle, a spokesman for the commission, said the incentives are based on an estimated $8 million capital investment.
Barry Davidson, CEO and managing member of Caddo Mountain Spring Water, said in an interview Monday that the venture currently has five Arkansas-based investors and is seeking additional backers. He said construction of the plant in rural Montgomery County will begin once certain funding goals are reached. Davidson said the plant will initially employ about 35 workers.
-- John Magsam