The midfielder is said to be close to signing a new contract.
Arteta said: "I would love to keep him, he knows that and the club is really supportive of that. He makes us better and we are interested."
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On the impact of Declan Rice, Arteta also said: "It's been great, he's had such an impact since day one.
"It's a great group, I think they've been really, really supportive. After eight/nine days in pre-season, he said he'd felt like he'd been here for three years."