Economic Development Incentives Debate

Arkansas Economic Development Commission

Arkansas Economic Development Commission Director Mike Preston told a Senate subcommittee Tuesday (Feb. 20) that state incentives level the playing field in areas where Arkansas has a competitive disadvantage in competing for jobs in a global marketplace.

Preston made his comments before members of the Senate Constitutional Issues Subcommittee, which is considering a proposed constitutional amendment to sunset surplus state monies set aside for the Governor’s Quick Action Closing Fund (QACF), a discretionary fund that allows the state’s chief executive to close deals with key job prospects.

“If you scrap this program, you really put Arkansas at a huge competitive disadvantage – not just with competitors around the region but on a global scale,” Preston warned the Senate panel chaired by Sen. Bryan King, R-Green Forest.   MORE

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