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Economic Development Incentives
Wed July 10, 2013
Economic Development Director Says HP Will Return Some Of Incentives Package
State Economic Development officials say Hewlett Packard no longer fulfills a benchmark that allows them to receive the same incentives established when its Conway facility opened in 2010.
Grant Tennille, director of the Arkansas Department of Economic Development, told KUAR News that after laying off 500 employees, HP no longer has the 1,000 workers at its service center which was a requirement for the computer company to receive its full-incentive package from the state.
He said the state will work with HP to determine how much money needs to be returned.
“As they begin this process of laying off and reducing their workforce we’ll work with them to recapture that money and we’ll turn around and put that money back with another project. So I think the project has worked, is working and will work precisely as it is designed,” said Tennille.
He said with around 900 HP workers still at the facility, his department will work fill out the leftover space.
“We will be continuing to talk with Hewlett Packard about other opportunities that might be available to fill the space in that facility. And we’ve also talked to Hewlett Packard about marketing the available space in that facility to other companies that might want to come and make use of it and make use of that workforce,” said Tennille.
HP received 10 million dollars from the Governor’s Quick Action Closing fund to help build their facility as well as other tax credits.