Expanding Economic Opportunity and Prosperity with Mike Malone, University of Arkansas

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.

Thanks for tuning in!

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 

‍Links

James Bell

Bentonville Economic Development 

Mike Malone

University of Arkansas Division of Economic Development

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)