Accelerate Arkansas Executive Summary page 1 4.6.05
Accelerate Arkansas is a statewide group of volunteers working under the 501C3 of Capital
Resource Corporation, a member of the Arkansas Capital Corporation Group. Accelerate
Arkansas emerged from efforts being made by the Arkansas Department of Economic
Development’s Task Force for the Creation of Knowledge-Based Jobs and leadership of the
Arkansas Venture Forum. Its membership has been expanded to include individuals from across
Accelerate Arkansas’ next initiative is to provide the leadership and the tool for Arkansas’ key
stakeholders to build a statewide strategic economic development plan for how Arkansas can
accelerate it’s competitiveness and preparedness to compete in today’s rapidly changing and highly competitive global economy. The cornerstones of the plan emphasize technology,
knowledge and entrepreneurship.
Increasingly, technology and knowledge will drive the success of Arkansas’ industries. Technology
and knowledge offer Arkansas’ industries and employers an opportunity to create sustainable
High-tech and knowledge-based industries grow faster than most industries in the U.S. These
industries are known for creating new and better jobs – higher wage jobs. The greatest
opportunity for Arkansas to move forward economically lies in our ability to accelerate the
knowledge of our children, the performance / contribution of our knowledge-based institutions and
the creation / growth of knowledge-based jobs. Over 75% of the changes in a state’s per capita income can be tied to this kind of strategic economic development.
It is true that Arkansas’ industries of the future will demand many more scientists and engineers as
we better position ourselves to compete in the new economy. It is also important for our parents
and children to recognize that even for those who do not become scientists and engineers,
tomorrow’s best careers will require much greater understanding and comfort level with science, technology, engineering and math (STEM).
II. OUR VISION
To enjoy an economy accelerated by knowledge-based institutions, partnerships, industries and
III. OUR MISSION
To foster economic growth in Arkansas by using the essential building blocks of the knowledge-
based economy – knowledge creation through research and development, intellectual property
development, commercialization of new technologies, growth of entrepreneurial knowledge-based
firms, knowledge workforce and evolution of clusters of such firms (i.e., critical mass); to create an
environment supporting entrepreneurship and continuous innovation.
Accelerate Arkansas Executive Summary page 2 4.6.05
IV. OUR GOAL
To increase Arkansas’ per capita income to the U.S. average by 2020. If this were achieved today,
the state of Arkansas would increase its state tax revenues by over $2 billion.
V. OUR VALUES
In everything we do, we will place the state of Arkansas first.
While we must make decisions and recommend strategies that we feel are in the best interest of Arkansas, we will conduct ourselves in a highly collaborate manner and expect this collaboration of others.
We are a non-political organization and will conduct ourselves accordingly.
In September 2004, Accelerate Arkansas released its major study on
Arkansas’ Position in the Knowledge-based Economy. The report, written
in part by the well-known Milken Institute, clearly defines the choices
Arkansas faces in the new economy.
The research report was made possibly from a $205K grant provided by
the Winthrop Rockefeller Foundation. The Milken Institute and Arkansas’
Center for Business and Economic Research examined the state’s current
economic conditions, assessed the comparative positions of its industry
structure and benchmarked Arkansas’ position in technology and science.
The research report can be accessed at