A late addition to the Little Rock Board of Directors meeting on Tuesday is a contract to purchase 867 aces near the Port of Little Rock. The estimated cost is $4.35 million, which would be paid for over time with voter-approved bond funds.
The Little Rock port, located on the eastern side of the city past the airport, includes an industrial park that spans approximately 5,000 acres. Employers include Waste Management, Amazon, Boyd Metals, Hormel Foods and more. In December, the Norwegian company Elopak announced it would be setting up shop in the industrial park, too.
If city officials approve the contract Tuesday evening, the 867 acres (shown on the map below in purple) would make for a major expansion south, said Bryan Day, executive director at the port. South is really the only direction the Port of Little Rock can continue growing, and the proposed land has a good amount of acreage. The seller of the land is a family estate, Jack Tyler Family, LLC.
PROPOSED LAND: The parcels in purple are up for sale.
“Land is a finite commodity,” Day said. “This land takes care of some immediate needs and future needs.”
The purchase would come in stages, first with a 196-acre acquisition using $1 million in bond funds approved in a 2022 election. The remaining balance would be paid later when additional bond money becomes available.
As it is, the port is running low on small and medium parcels, Day said. The port is holding tight to a 1,000-acre section of land in case a large developer comes along, and the proposed acquisition would offer up more options for companies looking to develop 50- or 100-acre plots. Day said he expects companies to pop up on the land within the year if the purchase is approved.
Some of the land for sale includes wetlands, which is good news for companies looking for environmental preservation credits.
Companies have to go through a certain process if they want to develop land that’s home to existing wetlands, Day said. It’s not a one-for-one trade: If a company drains one wetland area, it may have to offset a larger area to compensate for the loss. Arkansas has a wetland mitigation bank to assist in such efforts.
“We’re working to bring industry to town, but also to be good stewards to the land,” Day said.
Most of the land south of the port is privately owned. Most of the 867 proposed acres are about a quarter mile away from port-owned land, and if purchased, Day said the new parcels would exist outside of the port’s boundaries for some time. A piece of land would likely be incorporated into the port when a company established itself.
Day said port staff have held community meetings to inform nearby residents of the growth of its boundaries. No official letters were delivered specific to this potential purchase, he said.
