Fort Smith region can recruit advanced research-created companies

It’s not too late for business and civic leaders in the Fort Smith region to aggressively recruit the type of advanced technology company that held a formal opening today (May 29) in Springdale.

Duralor, a company once interested in being based in Fort Smith, is Arkansas’ first nanomanufacturing facility and is located in the Springdale Technology Park. Gov. Mike Beebe was in Springdale on Friday (May 29) for the formal ribbon cutting of the new 8,500-square-foot building that will house Duralor’s headquarters, manufacturing operations and joint research operations.

Duralor uses nanotechnology — the manipulation of materials at the extreme microscopic levels — to create compounds that allow cutting tools to cut more precise and to last longer. According to Duralor, TuffTek-coated tools outperformed traditional coatings by 300% or more and provided a 50% reduction in the time required to cut each shaft, thus reducing labor costs. The core technology behind TuffTek was exclusively licensed from the University of Arkansas in 2002 by Duralor’s parent company, NanoMech, a Fayetteville-based technology company.

“Fort Smith can absolutely go after this type of advanced manufacturing,” Michelle Stockman, with Little Rock-based Arkansas Capital Corp., said when asked if the Fort Smith region would be an attractive location for companies that emerge from UA research. “The right location and the right support from the communities will help move companies like Duralor to (the Fort Smith area).”

Stockman, who attended Friday’s ceremony at Duralor, said she is “100 percent convinced” that the Fort Smith region is “within a comfortable location range” to UA research operations.

Sam T. Sicard, vice president of Fort Smith-based First Bank Corp., said the region can compete for companies like Duralor, but it won’t be easy.

“The university (of Arkansas) is a huge, huge piece, a huge reason they (Duralor) are their in Springdale,” said Sicard, who also attended the Duralor event. “I think we will need to piggy-back off the research arm at the university … and if the distance (from Fayetteville to the Fort Smith area) is not a detriment, then we have a chance at them (advanced companies like Duralor).”

However, Sicard said Springdale Chamber of Commerce President Perry Webb and other Springdale officials have a head start in the effort to lure high-tech companies from the UA research incubator.

“Springdale will be tough to compete with,” Sicard said.

Stockman agreed, saying that Springdale officials have made a “strong commitment” to diversifying their job base with companies like Duralor.

“They are serious, but Fort Smith can get serious, too,” Stockman said.