With a clear mission to strengthen businesses, elevate professionals, and foster entrepreneurship, the UAFS Center for Economic Development is a powerhouse for strategic economic advancement. Located in the heart of downtown Fort Smith at the Bakery District—a dynamic multi-use space housed in the former Shipley Baking Company—the CED bridges the university and the community, delivering exceptional education and resources where they are needed most.

Comprising three primary divisions, the CED drives economic growth across every sector, ensuring businesses, professionals, and entrepreneurs have access to essential training, funding, and strategic resources.

Center for Business & Professional Development: Workforce Training that Delivers Results

Equipping companies and professionals with industry-driven training yields measurable impact for the region. Over the past year, the CBPD hosted 72 training events, reaching 1,121 students and partnering with 97 unique companies. With an emphasis on workplace leadership, industrial technology, and advanced manufacturing, the center directly addresses the evolving needs of regional industries.

Through cutting-edge programs like Lean Six Sigma certification, workplace safety training, and customized corporate workshops, the CBPD ensures that businesses remain competitive while employees gain essential skills for career advancement. The newly secured $1.3 million Economic Development Administration (EDA) University Center Grant, spanning the next decade, will significantly expand training opportunities, strengthening both the local workforce and regional businesses.

Jim Walcott Family Enterprise Center: Strengthening Generational Business Success

Family businesses are critical to the U.S. economy, employing more than 62% of the country’s workforce and contributing 64% of the U.S. GDP. The Jim Walcott Family Enterprise Center provides these businesses with strategic resources for longevity and growth, connecting business owners, family members, and professional managers in an exclusive learning community designed to navigate generational transitions and ensure sustainable business strategies.

Over the past two years, the FEC has secured more than $1.025 million in endowed funding, an ambitious undertaking that underscores its commitment to family business success. In the past year alone, the FEC hosted nearly 100 peer group lunches, a record number of events, and expanded its membership base. The center fosters intergenerational learning, bridging gaps between family and non-family professional managers and engaging family members not directly involved in the enterprise.

Arkansas Small Business & Technology Development Center: A Launchpad for Entrepreneurs

Entrepreneurs and small business owners find a critical partner in the ASBTDC at UAFS. This dynamic division offers confidential consulting, market research, and hands-on workshops—all at no cost. In the past year, ASBTDC facilitated $4.07 million in loans and investments, resulting in over $11 million in local economic impact. Its work has supported the launch of 36 new businesses, 21 of which are women and minority founded.

Dedicated to inclusivity and outreach, the ASBTDC held 16 workshops last year, including specialized sessions for veterans, active-duty entrepreneurs, and multilingual business owners. The center’s exemplary efforts were recognized with the 2023 Ambassador Award for outstanding engagement with underserved communities, further cementing its reputation as a force for economic empowerment.

A true engine for progress, the CED never stops moving. Over the next year, the center will drive artificial intelligence training for local businesses, partner with the Western Arkansas Manufacturing Council to establish an annual Workforce Best Practices Summit and leverage a $1.3 million EDA University Center Grant.