Summary
On this episode of The Bentonville Beacon, host James Bell is joined by Mike Malone, Vice Chancellor for Economic Development at the University of Arkansas. Mike has nearly three decades of experience building coalitions and partnerships to advance community and economic development opportunities. Previously, Mike had served as the CEO of the Northwest Arkansas Council, where he led the creation and implementation of regional growth resulting in an improved quality of life in NWA. Additionally, Mike has held senior leadership positions in the White House, the Federal Emergency Management Agency, the US Senate, and the US House of Representatives. Throughout the episode, James and Mike discuss the University of Arkansas’s economic development initiatives, why the University of Arkansas is investing in Bentonville, plus what resources and services the Division of Economic Development offers for expanding economic opportunity and prosperity across the entire state of Arkansas.

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‍Show Notes
(0:51) Introduction to Mike
(2:17) About Mike and his Role as Chancellor
(5:52) Relations between the University of Arkansas and NWA Community
(10:27) About I³R
(16:46) Why the University of Arkansas Is Investing in Bentonville
(20:15) The University of Arkansas’s Focus on Smart Mobility
(23:50) How Industry in Bentonville Is Shaping the World
(29:29) Advantages of Being Located in Bentonville
(34:52) Other University of Arkansas Initiatives
(38:35) Describing Bentonville’s Community
(42:23) Entrepreneurial Support from the University of Arkansas
(44:42) #BecauseBentonville Story
(49:02) Learning from Past Experiences
(51:15) Advice to Aspiring Leaders
(55:36) Closing Questions
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‍Links
JAMES BELL‍‍
‍BENTONVILLE ECONOMIC DEVELOPMENT‍‍‍
MIKE MALONE
UNIVERSITY OF ARKANSAS DIVISION OF ECONOMIC DEVELOPMENT
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Quotes
“We’re a big, complex place and a lot of people have existing relationships or contacts and it’s great if they do. For new industry, for industry moving to Arkansas, they might not have those relationships or a path in, we want to be able to provide that access.” – Mike Malone (9:19)

“The thing we hoped would happen, and has happened, is it’s become this hub of entrepreneurial activity in Bentonville, and it’s not all university driven entrepreneurial activity, but it’s the thing that happens from putting interesting, amazing, dynamic people in the same space together in proximity to one another.” – Mike Malone, (18:15)

“…but I hope we’ve built a region and a state that’s dynamic enough and offers enough professional opportunities, recreational opportunities, quality of life and amenities that at some point if [my daughters] want to come back, those things are here and they’ll have a great and fulfilling life.” – Mike Malone, (27:10)

“I think it’s access to talent and access to resources. Whether it’s in the field of logistics or if you’re into art or if you’re an outdoor business, some of the world’s greatest minds in those sectors are here.” – Mike Malone, (40:46)

Expanding Economic Opportunity and Prosperity with Mike Malone, University of Arkansas
‍On this episode of The Bentonville Beacon, host James Bell is joined by Mike Malone, Vice Chancellor for Economic Development at the University of Arkansas. Mike has nearly three decades of experience building coalitions and partnerships to advance community and economic development opportunities. Previously, Mike had served as the CEO of the Northwest Arkansas Council, where he led the creation and implementation of regional growth resulting in an improved quality of life in NWA. Additionally, Mike has held senior leadership positions in the White House, the Federal Emergency Management Agency, the US Senate, and the US House of Representatives. Throughout the episode, James and Mike discuss the University of Arkansas’s economic development initiatives, why the University of Arkansas is investing in Bentonville, plus what resources and services the Division of Economic Development offers for expanding economic opportunity and prosperity across the entire state of Arkansas.

Advancing Economic Interests through Community
‍The mission of the University of Arkansas’s Division of Economic Development is to expand economic opportunity and prosperity in Arkansas through talent development, the deployment of innovative research and technologies, community engagement, and place-making strategies. Furthermore, its purpose is to strategically amplify the university’s economic impact by creating partnerships with external entities that benefit the university while also advancing economic development interests in the region.

“We’re a big, complex place and a lot of people have existing relationships or contacts and it’s great if they do. For new industry, for industry moving to Arkansas, they might not have those relationships or a path in, we want to be able to provide that access.” – Mike Malone (9:19)

Some of the external facing services and resources provided by the Division of Economic Development include the Arkansas Small Business and Technology Development Center (ASBTDC), the Arkansas World Trade Center, the Office of Entrepreneurship and Innovation, the Arkansas Research and Technology Park, the Institute for Integrative & Innovative Research (I³R) and The Collaborative. These organizations engage and collaborate with businesses and communities in an effort to further Arkansas’s economic capacity and quality of place.

Bentonville’s Positive Economic Impact
‍The University of Arkansas’s Division of Economic Development is investing in Bentonville specifically through The Collaborative, which is a co-location of a number of different university resources in Bentonville. Furthermore, with the concentration of supply chain, logistics, retail and corporate expertise in Bentonville, and the access to expansive industry networks, it’s not a stretch to say Arkansas has is quickly becoming a leading state for next-generation mobility.

“I think it’s access to talent and access to resources. Whether it’s in the field of logistics or if you’re into art or if you’re an outdoor business, some of the world’s greatest minds in those sectors are here.” – Mike Malone, (40:46)

Additionally, Bentonville’s culture as a whole is an enticing factor to support in that its entrepreneurial ecosystem has an increased willingness to work together and progress for the benefit of everyone. In a show of appreciation, the University of Arkansas will continue to channel Bentonville’s enthusiasm and collaborative mindset by proactively engaging the region’s community and bolstering its initiatives statewide.
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Get Connected!
‍Thank you for tuning in to this episode of The Bentonville Beacon! Join us weekly for more stories from entrepreneurs and business leaders who are sparking the rise of Bentonville. If you are interested in discussing whether your business should have a presence in Bentonville or would like to discuss this podcast, please contact James Bell. You may reach James at JBELL@GREATERBENTONVILLE.COM or (479) 273-2841.