AMERICAN MANAGEMENT CORPORATION CHOOSES CONWAY FOR EXPANSION
April 30, 2002
Conway, AR — American Management Corporation, announced today that it would expand its operations in Conway, Arkansas.
American Management Corporation is an insurance company based in Conway. The company has 200 employees in several downtown locations and has grown quickly in the last few years. The expansion project will include the construction of a new six-story office building, adjacent to the company's existing headquarters.
The announcement came after the company had considered offers from Conway and neighboring Little Rock for the new facility. The company had considered a location in downtown Little Rock's River Market District. With Conway and Little Rock offering similar economic incentives, the decision largely came down to location, company officials said, noting that the Conway are would be a much easier commute for most American Management employees.
"The downtown River Market is a very attractive, viable location with a lot of excitement and momentum," said Steve Strange, president of American Management Corporation. "In making this decision, we realized we want to be a player in helping to bring the same to Conway's downtown."
Conway Mayor Tab Townsell said, "The city of Conway and our many partners in economic development have worked hard to keep AMC at home in Conway. We are excited about the new employment opportunities this will bring, as well as what it will mean to downtown Conway." American Management Corporation will hire as many as 200 additional employees in the next few years.
The Conway Corporation agreed to loan the city of Conway $2,000,000 to construct a new 200-car parking garage in the downtown area, which helps alleviate parking concerns. The Conway Development Corporation pledged $150,000 on behalf of AMC to the Conway Downtown Partnership to help implement a new streetscape plan.
Bill Hegeman, president of the Conway Development Corporation, said, "We are proud to commit $150,000 to the Downtown Partnership in honor of AMC. They are the anchor of downtown Conway, and further diversify our local economy. We are excited about the expansion and what if will me to our community."
The Conway Development Corporation is the City of Conway's economic development entity. Founded in 1959, the CDC has developed hundreds of acres of business and industrial property in the city and has helped create thousands of jobs since its inception.
CONTACT:
Brad Lacy
bradl@conwayarkansas.org
501-329-7788
