Council approves expanded WestRock bond packages for Exchange and Clark sites

Conway City Council held a public hearing and then approved two ordinances to authorize taxable industrial development revenue improvement bonds for WestRock projects at Exchange Avenue and Clark Drive.

Gordon Wilburn told the council the original WestRock project had been approved previously (not-to-exceed $300 million) and that the project has since expanded. He said the Exchange Avenue item increases the not-to-exceed amount on that site to $350 million and that the Clark Avenue action covers a $75 million production-line addition at WestRock's Clark Avenue facility. Wilburn confirmed these are private, company-issued bonds structured to secure property-tax abatements and are not obligations of the City.

Local business supporter Corey Parks said the project reflects conservative company projections but is a positive sign for local jobs and investment: "that means more jobs and more, investment by this private company into Conway." Council asked clarifying questions about the projects' expansion and whether the City would be financially liable; staff and counsel reiterated the bonds are privately secured and intended solely for property-tax abatement.

Council waived the three-reading rule and adopted the Exchange Avenue ordinance (o2583) and the Clark Drive ordinance; both votes were unanimous, 7'0to 0. Following the votes, Gordon Wilburn and WestRock representatives thanked the council for its support.

Next steps: Economic development staff will take the ordinances to the economic development committee for follow-up implementation steps and any required documentation for the tax-abatement process.