Sam Walls Retiring From Arkansas Capital Corporation

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Sam Walls, who served as the chief executive officer of Arkansas Capital Corporation Group, has retired after 24 years of service. “I truly believe that the intersection of my path with this company was an extraordinary event,” Walls said. “I needed this company and it needed me. And as I enter retirement, my greatest hope is that the culture and personality I have cultivated will carry on and grow.” [Read more…]

Sam Walls retires from Arkansas Capital Corp. Group

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Sam Walls announcing his yesterday, stepping down as CEO of Arkansas Capital Corp. Group of Little Rock after 24 years. Under Walls, the organization grew from one that managed a small portfolio of business loans to a group that has brokered more than $1.4 billion in loans to Arkansas businesses. Walls also developed the Donald W. Reynolds Governor’s Cup collegiate business plan competition. [Read more…]

The Arkansas Capital Corporation Group Honors Sam Walls for 24 Years of Service

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C. Sam Walls retires from Arkansas Capital Corporation Sam Walls, who served as the chief executive officer of The Arkansas Capital Corporation Group, has retired after 24 years of service. “I truly believe that the intersection of my path with this company was an extraordinary event,” Walls said. “I needed this company and it needed me. And as I enter retirement, my greatest hope is that the culture and personality I have cultivated will carry on and grow.” Under Walls leadership, The Arkansas Capital Corporation Group expanded its lending activities to grow from an organization that managed a small portfolio of business loans to an organization that has facilitated more than $1.4 billion in loans to Arkansas businesses. Walls also diversified the organization to include entrepreneurship education, New Markets Tax Credit allocations, high-speed Internet advocacy and a program facilitating foreign investment in Arkansas. Walls was the visionary behind the Donald W. Reynolds Governor’s Cup collegiate business plan competition, which has awarded more than $2 million in cash prizes to students and faculty since its inception in 2001. [Read more…]

SGL Group Invests Through Use of New Markets Tax Credit Program

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Heartland Renaissance Fun, an affiliate of The Arkansas Capital Corporation Group, is set to provide $10 million in New Markets Tax Credits to SGL Group’s Ozark, Ark. manufacturing facility to replace the current operations with a new state-of-the-art graphitization process for the manufacture of graphite electrodes, which are used for the production of steel in electric arc furnaces. The $10 million New Markets Tax Credit financing is part of a $26 million overall investment at the plant. This investment will yield cleaner technology, reduce energy consumption by approximately 20% and have a considerable impact on the competitive position of SGL Group, as well as allow the company to retain jobs and strategically position themselves for the future in Ozark. SGL Group’s Ozark plant, which began operations in 1981, employs more than 90 people with substantially higher wages than the average of Franklin County. [Read more…]

Heartland Fund of Little Rock Invests $10M in SGL’s Ozark Plant

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Heartland Renaissance Fund of Little Rock announced Tuesday that it will invest $10 million in a new SGL Group facility in Ozark. SGL manufactures graphite and carbon electrodes and other carbon-based products. Its Ozark operation, opened in 1981, employs roughly 90. Heartland’s investment is a part of a $26 million overhaul of the Ozark plant, announced in April, that it says will replace current operations with a state-of-the-art graphitization process for the manufacture of graphite electrodes, used for the production of steel in electric arc furnaces. The new plant is expected to be completed by June 2015. [Read more…]

SGL Carbon in Ozark to benefit from New Market Credits

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In the latest legislative session, Arkansas lawmakers passed a measure touted as a jobs creator, the New Market Tax Credits. The bill encouraged private sector investment in small businesses, particularly in low-income regions, by providing tax credits tied to private capital investments including at existing businesses. On Tuesday (July 9), Heartland Renaissance Fund, an affiliate of The Arkansas Capital Corporation Group, said it will provide $10 million in New Markets Tax Credits to SGL Group’s Ozark, Ark. manufacturing facility. [Read more…]

New Markets Tax Credits Deal Done

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In the latest legislative session, Arkansas lawmakers passed a measure touted as a jobs creator, the Arkansas New Markets Job Act. The bill encouraged private sector investment in small businesses, particularly in low-income regions, by providing tax credits tied to private capital investments including at existing businesses. On Tuesday (July 9), Heartland Renaissance Fund, an affiliate of The Arkansas Capital Corporation Group, said it will provide $10 million in New Markets Tax Credits to SGL Group’s Ozark, Ark. manufacturing facility.  Heartland’s investment is part of a federal new markets program, as the state’s version does not go into effect until July 15. [Read more…]

UCA Team Headed to Russia for Microsoft Imagine Cup Finals

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The prototype of the Bear Claw glove, which is used with a smartphone app. (Photo by Mark Carter)
An ongoing research project at the University of Central Arkansas could turn into a big deal on the international business stage later this month. Bears Unlimited, a team of four UCA computer science students, will compete in the world finals of the 12th annual Microsoft Imagine Cup next week in St. Petersburg, Russia. The team, which consists of UCA seniors John White, Ben Tackett, Kyle Eichelberger and graduate student Michelle Enfinger, developed a sensor-filled glove for use in hand, wrist and forearm therapy. Faculty mentors are Sinan Kockara and Tansel Halic.     [Read more…]

CDFI Fund Releases Public Data on New Markets Tax Credit Investments

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New Markets Tax Credits were utilized in over 2,600 businesses and 3,990 real estate investments across the country between 2003 and 2011, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released today. In addition, over 75 percent of the tax credits were invested in census tracts that met one of three indicators of “severe distress,” such as lower incomes, higher rates of poverty, or higher unemployment rates—criteria greater than the minimum requirements for the New Markets Tax Credit Program. [Read more…]

Does your project qualify for NMTC funding?

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One of the first questions we often hear from prospective borrowers is “Can I use New Markets Tax Credits for my project?”  The NMTC program is a very powerful incentive to attract private capital for the right projects. To understand if the NMTC incentive is a good fit for your project one of the first questions you should ask is: [Read more…]