Arkansas § 15-3-603 Definitions

Arkansas Statutes

§ 15-3-603 — Definitions

Arkansas § 15-3-603

Title15

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Bluebook

Ark. Code Ann. § 15-3-603 (2026).

Text

As used in this subchapter:

(1)"Business and technology accelerator" means a full-time, immersive program administered by an eligible applicant to potentially invest in, mentor, and accelerate commercial development of start-up businesses;

(2)"Business and technology accelerator grant" means a discretionary grant of up to two hundred fifty thousand dollars ($250,000) for each approved business and technology accelerator application; and (3) "Eligible applicant" means an entity that is:

(A)Registered as a business entity in good standing with the Secretary of State; and (B) Principally engaged in one (1) or more of the following categories of business or industry:

(i)A manufacturer classified in sectors 31-33 of the 2012 North American Industry Classification System;

(ii)A business tha

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As used in this subchapter: (1) "Business and technology accelerator" means a full-time, immersive program administered by an eligible applicant to potentially invest in, mentor, and accelerate commercial development of start-up businesses; (2) "Business and technology accelerator grant" means a discretionary grant of up to two hundred fifty thousand dollars ($250,000) for each approved business and technology accelerator application; and (3) "Eligible applicant" means an entity that is: (A) Registered as a business entity in good standing with the Secretary of State; and (B) Principally engaged in one (1) or more of the following categories of business or industry: (i) A manufacturer classified in sectors 31-33 of the 2012 North American Industry Classification System; (ii) A business that: (a) Is primarily engaged in the design and development of prepackaged software, digital content production and preservation, computer processing and data preparation services, or information retrieval services; and (b) Derives at least seventy-five percent (75%) of its sales revenue from out of state; (iii) An office sector business whose business operations support primary business needs, including without limitation customer service, credit accounting, telemarketing, claims processing, and other administrative functions that: (a) Is a nonretail business; and (b) Derives at least seventy-five percent (75%) of its sales revenue from out of state; (iv) A national or regional corporate headquarters as classified in code 551114 of the 2012 North American Industry Classification System; (v) A scientific and technical services business that derives at least seventy-five percent (75%) of its sales revenue from out of state; (vi) A firm primarily engaged in commercial, physical, and biological research as classified in code 541711 or code 541712 of the 2012 North American Industry Classification System; (vii) A firm engaged in one (1) or more of the following categories: (a) Advanced materials and manufacturing systems; (b) Agriculture, food processing, and environmental sciences; (c) Biotechnology, bioengineering, and life sciences; (d) Information technology; (e) Transportation logistics; and (f) Internet-enabled technology or service solutions for one (1) or more of the categories described in subdivisions (3)(B)(vii) (a)-(e) of this section; and (viii) A business primarily engaged in operating combustors and incinerators for the disposal of nonhazardous solid waste, as classified in code 562213 of the 2022 North American Industry Classification System.