How long has it been in existence?

The CBRED was launched January 1, 2010.

Where is it located?

UA Fort Smith College of Business

How is the CBRED funded?

The Center is to be funded through community sponsors and advertisers, subscription fees, university support and fees from contract research and consulting.

An annual subscription of $25 entitles the subscriber to receive the quarterly Fort Smith Regional Economic Outlook Report.

To order a subscription, or to inquire about advertising or sponsorship  opportunities, please contact Kermit at (479) 788 – 7938, or by email at cbred@uafortsmith.edu.

Summarize the broad goals of the Center.

As the name implies, CBRED will seek to engage in activities on two broad fronts.  First is the research side, which is focused more on the collection, analysis and reporting of business and economic data for the Fort Smith MSA.  This would be typical of most centers of this type and is essentially geared toward extrapolating meaning from published government data in areas of employment, housing, retail sales, construction and such, and discussing the implications for the future based on this.  Original research unique to the region would also be characteristic of this type of work.

On the economic development front, CBRED will focus on strategic issues that will help the community move forward in constructing its future, not only in economic terms, but also in terms of what defines the special kind of place we want to create, ways in which it can be created and the will to organize, invest and cooperate to make it happen.  This is a far more difficult task than the collecting and reporting of data, but it also is a much more important task if our community is serious about changing the future of the Fort Smith region.  This is about vision and the resolve to bring that vision into reality over time. 

What are some of the specific projects or services of the Center early on?

The Center is tasked at the outset with producing two reports on the local economy, consistent with the research area discussed earlier:

1.  Monthly Economic Indicators Index
2.  Fort Smith Regional Economic Outlook Report (Quarterly)

Each of these reports is discussed in more detail below:

Monthly Economic Indicators Index.  This monthly report provides the Fort Smith area with a summary of economic activity for the period as well as barometer of future economic activity. The index includes analysis of key regional variables such as sales (e.g., retail, auto, hotel/motel, home, etc.), construction (e.g., residential permits & values, etc.), employment (e.g., wages, salaries, unemployment rate, etc.), and related indicators that assist area leaders in tracking and forecasting changing patterns in the local economy.

Fort Smith Regional Economic Outlook Report. This quarterly report provides insight into consumer attitudes and buying intentions in the Fort Smith area through analysis of the Consumer Confidence Survey and Index.  The report also summarizes economic performance for the period, providing an overview of the major trends and issues affecting the Fort Smith area economy going forward. 

What are some of the typical projects and services you would expect to provide, say a year from now?

In addition to the above regular reports and as resources permit, the Center intends to conduct regional research in cooperation with other community partners.  Typical of these would be projects focused on specific segments of our economy and community, such as local attitudes toward change, workforce readiness, innovation, state of small or family business, and sector specific reports in areas of manufacturing, transportation, etc.

 Additionally, CBRED will support statewide initiatives that promote economic development in our region and the State of Arkansas.  Finally, a number of activities of the Center may be offered on a per-fee basis.  Typical examples of the kind of services possible include:

• Economic Impact Analyses
• Economic Briefs
• Analyses for Strategic Planning
• Industry Cluster Analysis
• Customized Research and Analysis
• Feasibility Studies
• Surveys
• Market Area Studies
• Population and Employment Forecasts

How will CBRED complement the existing economic development initiatives by the Chamber of Commerce, the City of Fort Smith and other entities?

There are a number of entities in the community that focus on economic development in a very direct way; the Fort Smith Regional Chamber, the City of Fort Smith, and Fort Chaffee are some of these. CBRED, along with other outreach units in the College of Business and UA Fort Smith, intends to contribute to this process through our research activities and hopefully expertise in selective areas. 

If one were to sum up what CBRED is about and why this is important to the Fort Smith region, what would that be?

In order for regional leaders to make the most effective development decisions for our community, they need the best understanding they can get of that community.  CBRED seeks to offer insight, not merely data.  In time, the Center expects to be the source of both – data and insight.

Who should people contact for more information about the Center?

Contact Dr. Kermit W. Kuehn at 479-788-7938, or through Center information below:

Center for Business Research and Economic Development
UA Fort Smith College of Business
5210 Grand Avenue  BI218
P.O. Box 3649
Fort Smith, AR 72913-3649

Phone:               479-788-7938
Fax:                   479-788-7957
E-mail:               CBRED@uafortsmith.edu
Website:             www.cob.uafortsmith.edu/cbred