About Monticello Economic Development Commission
Monticello Industrial Development Corporation was founded on December 16, 1955. On August 27, 1997, the name was officially changed to Monticello Industrial/Economic Development Commission, Inc. (MEDC). MEDC is a quasi-governmental agency and an Arkansas corporation which has contracted with the city of Monticello to provide economic development services since 1998.
MEDC is the owner of the following assets which are used to leverage economic development activities:
65.96 acres and a 50,000 square foot Speculative Building within the MEDC Industrial Park with an estimated value of $1.7 million
Monticello Public Rail Access (MPRA) which has an estimated value of $1.2 million. MEDC works with Arkansas Midland Railroad to make the MPRA available for existing Drew County industries for rail transportation and to leverage recruitment of new industries.
Monticello Economic Development Commission Mission
MEDC’s mission and performance is augmented by operations of the Economic Development Fund of Monticello, Inc. (EDFM), a not-for-profit organization granted Section 501c3 tax-exempt status by the U.S. Internal Revenue Service. The quasi-governmental/non-profit status enables MEDC to write, apply for and administer a broad range of grants from governmental, institutional and foundation sources. The governing board of directors and staff are identical to those of the MEDC.