2023 was another strong year for the Port of Little Rock. From projected revenue to brand-new partnerships, here is a look at the progress the Port made in 2023—and what we can look forward to in 2024.
Economics & News
The Port Authority generated about $1.5 million in net revenue in 2023. The projected total revenue for 2024 is about $4.1 million.
Read More: Little Rock Port Authority’s Board Approves 2024 Budget | Arkansas Democrat Gazette
In October of 2023, Executive Director Bryan Day pledged to donate $150,000 to the University of Arkansas at Little Rock. The Bryan M. Day Endowed Scholarship will assist with education-related expenses for Master of Public Administration (MPA) students.
In December of 2023, the Port of Little Rock and its successes were profiled in Arkansas Money & Politics.
Read the Article: Small State, Big Industry: Arkansas Home to Emerging Hot Spots | Arkansas Money & Politics
New International Business
In December of 2023, environmentally-conscious packing company Elopak chose the Port of Little Rock as its first production site in the United States. The Norway-based company will invest $70 million in land, buildings, and equipment, creating over 100 jobs. The new facility is projected to open in the first half of 2025.
“I know that other great businesses like Elopak will see what we are doing in the Natural State, which will lead to many more announcements like this that will benefit the entire state,” said Governor Sarah Huckabee Sanders about Elopak’s decision.
Read More: KARK.com | Talk Business | Arkansas Times | Arkansas Money & Politics
Watch: THV11.com (Dec. 5) | THV11.com (Dec. 6)
Expansion & Development
In November of 2023, Boyd Metals announced that it was expanding its facilities at the Port of Little Rock. The expansion will add over 40,000 square feet to the company’s facility, including a safe room to serve as an emergency shelter, and will create 20 new jobs. Boyd Metals has had a presence at the Port of Little Rock for nearly two decades, undergoing expansions in 2009 and 2015.
“This investment further solidifies Little Rock as a leader in the metals industry and creates additional jobs for our residents at the Port of Little Rock,” Mayor Frank Scott, Jr. said about the announcement.
Read More: UALR Public Radio | Arkansas Money & Politics | Talk Business | KATV.com
In December of 2023, a 4.7 megawatt solar farm—the result of a 25-year agreement with solar energy company Today’s Power—officially opened at the Port of Little Rock. According to Pulaski County Judge Barry Hyde, 90% of the county’s operations will now be powered by solar energy. The use of this clean, renewable power source is expected to save Pulaski County $250,000 in electricity costs per year.
Read More: Pulaski County Officials Flip Switch on New Solar Farm | UALR Public Radio
The July 2023 decision to dismantle an aviation beacon created the opportunity for a new 1,000-acre “supersite” on the Port of Little Rock campus, prompting the construction of a new water main to serve the area.
Safety Improvements
In May of 2023, the Little Rock Port Authority’s board of directors approved a $411,425 contract with MidSouth Railroad Service for an improvement of railroad crossing equipment at Frazier Pike. The Arkansas Department of Transportation awarded the Port Authority a grant of $351,000 to help cover costs.
The Port of Little Rock: The Future of Growth
The Port of Little Rock continues to stimulate the economy of the Natural State as it welcomes business from all over the world. With its strategic central location, state-of-the-art facilities, and access to multiple forms of transportation, the Port is an ideal choice for companies—no matter whether they’re based in Arkansas or coming to us from across the globe.
