MonticelloLive

This is a portion of the MEDC report as it was presented to the group by MEDC director Truman Hamilton.
Mayor Joe Rogers and I went to El Dorado to the Chamber of Commerce, Tuesday, May 13th for what I understood was to be a roundtable discussion with representatives from various state agencies involved in economic development.  They were there but instead of discussion, we heard dialogue from the Mayor of El Dorado and the El Dorado Industrial Development Director.  That city has passed a sales tax for 8 years that should generate in excess of $32,000,000.00.  This money is all designated for industrial development.  They have designated a percentage for salaries, promotion/recruitment of industry, development of industrial facilities and retention of existing industry.
Couple this with Murphy Oil’s 10 year, $50,000,000.00 commitment to education for graduates from the El Dorado School System, they have a very attractive package to present to any potential industry.  They are addressing the housing shortage in their area by absorbing some of the infrastructure cost associated with new subdivisions.