Chamber: Newport and Diaz work together for mutual benefit - KAIT Jonesboro, AR - Region 8 News, weather, sports

Chamber: Newport and Diaz work together for mutual benefit

JACKSON COUNTY, AR (KAIT) -

The decision made by 2 businesses in Jackson County brought 2 cities together, according to the director of the chamber of commerce.

George Kell Motors and Harris Ford decided to move their businesses to 1 location in Diaz.

Both cities received money from sales taxes from at least 1 of these businesses before the move. In order to see mutual benefit, both cities decided to meet and figure out what to do.

The dealerships decided to move to a location inside the Diaz city limits but those limits changed after the agreement was signed.

“Diaz needed some funding for waste water treatment plant improvements,” Jon Chadwell with the Newport Economic Development Commission said. “So there was some property in Diaz that the dealerships already owned. We struck a deal with Diaz that they would let Newport annex that property so that we in the future would receive the sales tax revenue from the service from dealerships.”

Diaz received a grant from Newport that would go to the improvements on the water treatment plant in the city. Chadwell said Diaz also received a low-interest loan that would save them money in the long run with the facility.

He explained the city of Newport will slowly regain the money they gave to Diaz over the next few years. He said it will be slow at first but it will bring in more money in the long run.

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