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Phillip Stafford, president of the University of Arkansas Technology Development Foundation, addresses the crowd at the

The Arkansas Research & Technology Park has had an economic impact of more than a half-billion dollars since it opened 10 years ago, according to a new economic impact analysis released Thursday by the Center for Business and Economic Research at the University of Arkansas.

UA officials unveiled the report at a special event commemorating the 126-acre park's 10th anniversary. Construction on the research park began in 2003 and its first building, the Innovation Center, was dedicated on Oct. 15, 2004.

Image: Phillip Stafford, president of the University of Arkansas Technology Development Foundation, addresses the crowd at the "Celebrating 10 Years of Innovation" event held Thursday at the Arkansas Research and Technology Park. (Photo by Russell Cothren, University of Arkansas)