§ 15-4-219 — Annual report

Arkansas § 15-4-219

• Jurisdiction: Arkansas
• Title: 15

Text

The Arkansas Economic Development Commission shall present a report annually on the commission's work during the previous calendar year in these areas of concern: (1) An accounting of: (A) Each project that was offered incentives in the previous calendar year, including without limitation: (i) The number of jobs proposed by each project; (ii) For each job creation project that receives funds from the Economic Development Incentive Quick Action Closing Fund under § 19-5-1231 , an indication of whether each project contains a repayment requirement; (iii) (a) Each project that received funds from the Economic Development Incentive Quick Action Closing Fund under § 19-5-1231 . (b) The information reported in subdivision (1)(A)(iii) (a) of this section and any other related information shall be made available to the Office of Economic and Tax Policy upon request; (iv) The location of each project; and (v) The specific incentives offered by the commission; (B) Each project that was offered incentives but that did not accept incentives, including without limitation: (i) An assessment of the reasons why each offered project failed to open; and (ii) Any proposals the General Assembly should consider that would have assisted the commission in its negotiations regarding each project; (C) Each factory and plant that closed in the previous calendar year, including without limitation: (i) The number of jobs lost as the result of the closure of each factory or plant; (ii) The location of each factory or plant that closed; and (iii) An assessment of the reasons for each factory or plant closing; and (D) The commission's strategies and recommendations for the coming year, including: (i) An assessment of the relative risk of loss of factories, plants, and jobs in the state; and (ii) Plans for: (a) Preventing future closings of factories and plants; (b) Preventing future losses of jobs; (c) Increasing the number of economic development proposals within the state; (d) Drawing an increasing number of economic development proposals into the state; and (e) Creating new incentives for economic development proposals; and (2) The Director of the Arkansas Economic Development Commission's assessment of the commission's performance, including without limitation a comparison to: (A) The commission's performance over the past two (2) years; (B) The commission's own projections; and (C) Economic development in neighboring states.

Legislative History

Amended by Act 2019, No. 202,§ 4, eff. 7/24/2019. Amended by Act 2019, No. 910,§ 360, eff. 7/1/2019. Amended by Act 2013, No. 1185,§ 1, eff. 8/16/2013. Acts 2001, No. 1282, § 2; 2005, No. 1962, § 56.