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A feasibility study for a convention center planned for Crossroads Business Park was announced by Texarkana, Ark., city officials on Monday.

“Texarkana needs something like this. The opportunity is there, and it’s just the next step in the growth of Texarkana,” said investor Brian Daugherty after an afternoon press conference announcing the plan. “We hope we can do something as grand as possible, but at the same time we’ve got to look to see what the need is, then we’ve got to make that work.”

Officials with both Texarkanas are supporting the private investment by Daugh...