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Chaffee Crossing – generating Economic Development Featured

Written by  Wednesday, 27 December 2017 16:44
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Recently an Economic Summit was held in Poteau to help people become more educated on our local economy.


The summit, held at the Donald W. Reynolds Center featured area business leaders and the financial impact they have in the county.

 

Though Chaffee Crossing is in Ft Smith, the newly developed land, has helped to create jobs, by brining in new businesses and industry to the area.


Ivey Owen, with Chaffee Crossing in Ft Smith, Arkansas, gave some history about the old Fort Chaffee and the economic development engine of western Arkansas and the center point of the nation’s crossroads for business.


According to Owen, “It was in 1995. The defense Base Realignment and Closure (BRAC) Commission recommended the permanent closure of Fort Chaffee. The federal government opted to lease 67,000 acres to the Arkansas Army National Guard to be used for training. The remaining 7,000+ acres were turned over to local communities for redevelopment (with a portion to be used to build I49.)"


According to Owen, over $1.5 Billion in capital investments have resulted in 8 industries moving to the area that has generated more than 3,500 jobs with 25 residential developments to choose from as well.


The former Fort Chaffee land has been branded now as Chaffee Crossing and is home to the Mars Corporation, and the new Osteopathic School and the Arvest Headquarters.

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