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Bryan Scoggins Appointed Arkansas Development Finance Authority (ADFA) President


Media Contact: Alisha Curtis, Director of Communications
Arkansas Department of Commerce
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Bryan Scoggins Appointed Arkansas Development Finance Authority (ADFA) President

Little Rock (August 15, 2019) – Officials today announced Bryan Scoggins as the new president of the Arkansas Development Finance Authority (ADFA). Scoggins comes from his present position as Arkansas Economic Development Commission (AEDC) Director of Business Finance. Both agencies are within the new Department of Commerce.

The announcement was made today by the ADFA Board of Directors at their monthly meeting. Scoggins will replace Cheryl Schluterman who has served as president since October of 2018. Scoggins will assume the role as president immediately.

“I am pleased that Bryan Scoggins will serve as the next president of the Arkansas Development Finance Authority,” said Governor Asa Hutchinson. “Having served at ADFA previously in his career and along with extensive finance experience at AEDC, Bryan is uniquely capable and is already an integral part of the state’s business finance efforts.”

“I am pleased to return to ADFA and appreciate the confidence that Governor Hutchinson, Secretary Preston and the ADFA Board of Directors have shown to provide me this opportunity,” said Scoggins. “I look forward to continuing the close association between AEDC and ADFA under the Department of Commerce.”

Scoggins initially worked at ADFA in 1989 and was tasked with performing credit analysis on potential industrial revenue bond transactions. He has held his current position as Director of Business Finance for AEDC since 2001 with a primary focus on the Bond Guaranty Program, Community Development Block Grant Loan to Industry program and administration function oversight of AEDC’s Incentive Program.

“I am delighted that the ADFA Board of Directors selected Bryan to lead the division as president,” said Commerce Secretary Mike Preston. “He is the perfect choice to continue the principle initiatives of expanding job opportunities and supporting affordable housing in Arkansas.”

Scoggins led the charge for implementing several finance-related programs and initiatives at AEDC including the Governor’s Quick Action Closing Fund, Equity Investment Tax Credit Program and the State New Market Tax Credit Program. He also served as point for federal economic development initiatives such as Opportunity Zones and the Federal New Market Tax Credit Program.

“Bryan Scoggins will be an excellent leader,” said ADFA Board Chairman Stan Green. “He has the experience and skills the Board identified as priorities for the position and I am confident he will continue to help ADFA improve the delivery and effectiveness of its services to the citizens of Arkansas.” Scoggins is a graduate of the University of Arkansas with a degree in banking and finance.

About the Arkansas Department of Commerce: The Arkansas Department of Commerce is the umbrella department for workforce and economic development drivers. Its divisions and regulatory boards include Division of Aeronautics, Waterways Commission, Wine Producers Council, Division of Workforce Services, Office of Skills Development, State Bank Department, Insurance Department, Securities Department, Economic Development Commission and Development Finance Authority. It was established July 2019 as part of Governor Asa Hutchinson’s wide-sweeping efficiency and transformation efforts to reduce 42 cabinet agencies to 15 while maintaining services for all Arkansans.