Sunday, August 26, 2007

Arkansas Considers Changes to Gain a Competitive Edge

To better recruit industry to the state, the Arkansas Economic Development Commission will consider, among other things, pursuing a constitutional amendment to remove the restriction on the state investing in private companies.

Details of the agency's economic development efforts in 2006, as well as possible strategies in coming years, were revealed last week in an annual report to legislators that has been required by law since 2002.

The consideration - one of many that also include offering income tax credits to Arkansas companies that recruit their suppliers to the state; providing incentives to companies that hire people with certain doctorate degrees; and exempting native Arkansans from income tax or capital gains tax if they return to the state - is only an idea, not a commitment, said Morris Jenkins, director of AEDC's strategic planning division.

Read more here.

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