Arkansas Blog

Wasn't there once a "business incubator" downtown in the old bus station? Wasn't it's purpose to invest in startups and get them on their feet? Did it ever do anything besides pump some bucks into a decrepit old building and the coffers of office furniture stores? I can't see that it did anything to justify it's existence; kind'a like Clinton's woodcutter training.

...when the state gets into the investment business it will almost certainly begin on the margins with ideas and operators that couldn't sell the free market on their idea or their viability. Plenty of accomplished businessmen think otherwise,... smart businessmen are more than happy to let government share the risk, or even reduce their overhead, with direct grants...

What's the difference between incubators and cities/state giving millions of incentives for existing business to move here. Either plan offers a risk.

One playing field where business could not or would not take the risk was sattelite technology. Gov had to seed it..to the disdain of libertarians and free marketers everywhere. Likewise with many avenues of medical research.

Government had to seed the very medium we are using, then later it converted to private use, just in case there's libertarians out there who think the internet is a private, free-market petri dish.
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Ok...I'll play....has Arkansas ever had such a thing as a state-financed venture capital fund before? Have other states had such a thing and how did it work out for them?

Fort Smith is going to have to make it some way when we don't make refrigerators any more. Our city government is going to be hurting because so much of our land mass is covered with non-taxpaying churches.

I think a buck a head on Sundays would do our tax coffers a world of good....personally ya know.

The thing about knowledge-based businesses is that they can operate from anywhere.

And they usually choose places with high standards of living, well educated people, and a tolerant culture.

It's hard to criticize anything that attempts to move us away from agriculture and factory work, though.

But I suspect the Good Old Boy club will siphon off a lot of the money. We'll probably have a computerized sidewalk startup in Bigelow.

Sorry, JB, but I don't so quickly forgive Bob Johnson for his attempt to fatten his own wallet while devastating the quality of water in Central Arkansas. If he's ever on my Pulaski County ballot, I'll take a leave of absence from work to campaign against him.

Can you imagine Silicone Valley or NJ, or other higher income areas passing the anti-gay legislation that Womack heaped upon us?

So long as our leggies are hanging from the Trees, with some notable exceptions, I won't get my hopes up.

DBI, the UoA did have a business incubator, perhaps it still does, to foster high tech business development by offering help with organization and business plans.
One of the products of the incubator was at odds with our "banana republic" governor. Intelligent, innovative starters aren't likely to swallow the R crap that'd dished out regularly here.
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Oh, this is going to turn out badly. Call me in five years, when the fund is found to have pumped money into businesses owned by members of the Legislature.

Wonder how much of this venture capital will end up helping Bruce Burrow start-up more min wage shopping centers.

Capital typically finds great deals but at the very early stages the markets do not accept the high levels of risk. If you look at many successful regions several have state supported finds to encourage this innovation. At UAMS last week we had private equity firms that highlighted several opportunities that needed some additional funds before they are prepared to invest. The deals are world class just very early stage.

from the WAPO

Far From Iraq, A Demonstration Of a War Zone

brilliant!

link at my name

"..in five years, when the fund is found to have pumped money into businesses owned by members of the Legislature." Prouster

I must agree with Mr. P on this ULESS,
big UNLESS they put some reporting requirements and oversight with any grant. Just another money grab which will come to nothing but a leggie's wife and cousin drawing big salaries until the fund is dry.
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At the risk of sounding like a broken record (remember those things?), we need to invest statewide in longterm jobs, such as healthcare. I remember when the state put an emphasis on computer tech education, just before the high tech bubble burst. Arkansas has a habit of chasing obsolete jobs (part of our "we'll do it cheaper" plantation philosophy).

Health care jobs are only going to grow ... and they can occur anywhere in the state, rather than in one smokestack city. I'm afraid that any venture capital fund is going to be wasted in a flash in the pan fad.

I'm with you on this, crazyhorse:

"And they usually choose places with high standards of living, well educated people, and a tolerant culture."

The key is a tolerant culture, that allows for creativity and a bit of "weird" to flourish. That is where the new ideas and innovations come from. Things like gay-bashing don't come off very well for those that don't fit into the "regular" society, who come up with all the really good ideas and products that take off.

To Jim Lendall's remarks, I say, Amen.

"Oh, this is going to turn out badly. Call me in five years, when the fund is found to have pumped money into businesses owned by members of the Legislature."

Yup...that's the typical/historical behavior of most of our legislators/governors.

I've often wondered how so many of our legislators can be so ass-backwards when it comes to progressive legislation for stuff like education, minority/women's rights, health-care issues, etc., but then operate so efficiently/quickly when it comes to passing 'business' legislation that'll line their pockets.

Health care jobs are knowledge-based, too.

Having nurses and physicians or other specialists remotely monitor the health of a patient at home benefits everyone involved.

For emergency care, it's better to send the results of a late-night test to a wide-awake doctor in Australia (for example) than to roll someone out of bed here in Little Rock.

>>>The key is a tolerant culture, that allows for creativity and a bit of "weird" to flourish. That is where the new ideas and innovations come from. Things like gay-bashing don't come off very well for those that don't fit into the "regular" society, who come up with all the really good ideas and products that take off.<<<<<

Ditto.
The mister and I were discussing this the other night in light of the hateful adoption/foster care bill.
It is hard to keep your best and brightest at home let alone attract larger corporations like, dare I say, Toyota when you are flashing your backwards and utterly hateful views for all the world to see.