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An impressive lineup of businessmen and state and city officials announced this morning the creation of the Argenta Innovation Center, a place for entrepreneurial start ups in digital technology and engineering experimentation that will fill out the building now occupied by the Art Connection at 204 E. 4th St. in North Little Rock.

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Arkansas Economic Development Director Grant Tennille; Barry Hyde, of Hyde Co. contractors; and Chris Masengill, co-chair of the Delta Regional Authority, talked about the need for the state to support creativity and new business. Tennille cited Forrest Wood as an example of what one person can do for the economy’s, saying the boat business Wood started in his garage turned into a worldwide lifestyle industry, spawning television shows and clothing. “It started with a simple idea … and it grew,” Tennille said. The Innovation Center will be “a place for people with great ideas to come together.”

An enthusiastic Masengill said, “I don’t know what’s in the water over here in Argenta, but it’s exciting.” He said the Innovation Center will create a “pipeline” of ideas and an “ecosystem” that generates new manufacturing jobs all over the state. State Rep. Warwick Sabin sounded the same note, saying that all of Central Arkansas should get behind the Argenta center.

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The Art Connection, an after-school work program connected to the arts now a year old, will be joined by the Silver Mine, a collaborative work space for entrepreneurs similar to the Icebox in Fayetteville, and the Fab Lab, a maker space open to the community equipped with computers and a 3D printer. Hyde said the budget for acquiring, renovating and equipping the building is $2.5 million, and nearly half of that has been raised. Building owners Harold Tenenbaum and Jack Grundfest discounted the building sale cost by $350,000 to $900,000, so enough has been raised so far to purchase the building. Renovation should cost $1.2 million and furnishings $400,000. The Art Connection and tenants in the Silver Mine will lease space from the owner of the building, the Argenta Arts Foundation; access to the community Fab Lab will be through memberships.

The Argenta Innovation Center has been in the planning stage for a couple of years by Argenta investor John Gaudin, whose idea the Art Connection was; Jerry Currence; Jack Grundfest; Harry Hamlin; Donna Hardcastle; former Mayor Patrick Hays; David Hudson; Arlton Lowry; John Rogers, Maurice Taylor and Dustin Williams. It is phase one of what will be known as the Regional Innovation Hub.

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Press release on the jump.

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