Fayetteville trying to bring Swedish companies to city.
The city of Fayetteville is trying to recruit Swedish businesses to town. The city and the Fayetteville Economic Development Council are contracting with Per-Erik Perrson, an agent for the Swedish-American business South Central LLC, to recruit companies that are looking to expand beyond their country's borders.
Steve Rust, president and CEO of the Economic Development Council, said it's a target effort to identify companies that line up with the Green Valley network's priorities of building the city's business and technology cluster focused on sustainability.
In Yale University's 2008 Environmental Performance Index, Sweden is ranked as the world's third-most environmentally friendly country.
The country also has a lot of "off-the-shelf" technology, Rust said.
"To bring that kind of technology over here is pretty low risk and will create jobs and capital investment," he said. "And it's an ideal time, particularly for European countries to come here, because of the value of the dollar against the euro. The cost of doing business here is probably one-half of what it would be in Europe."
Fayetteville is strategically a good location for Swedish companies to expand or relocate, Rust said, because it's in the center of the United States and business costs are less than those in the East and West Coast cites.
Fayetteville is entering the second phase of a six-month contract, at a cost of $26,250, to be split between the city and the Economic Development Council. The Fayetteville Chamber of Commerce and the Economic Development Council paid for the first phase, which brought four visiting companies to Fayetteville.
One of those companies, Demolition & Asbestos Removal & Recycling, announced in June its intentions to move to northwest Arkansas and create 25 jobs over the next three years.