SB430 Summary

• Appropriates $50,000,000 to the Economic Development Incentive Quick Action Closing Fund for incentives to attract new business and economic development to Arkansas.

• Allocates $20,000,000 for grants and loans to public works projects, job training, industrial parks, aircraft/aerospace expansion, port/waterway projects, technology development, and water/sewer systems.

• Provides $3,000,000 for workforce training incentives to upgrade employee skills and build training capacity for Arkansas companies.

• Includes $2,000,000 for production rebates to the Digital Product and Motion Picture industry, $20,000,000 for economic development bonds under Amendment 82, and $5,000,000 to the Innovate Arkansas Fund for start-up technology businesses.

• Appropriates $37,500,000 through the CREATE Rebate program for financial incentives to companies locating new facilities or expanding existing facilities with specified employment levels; effective July 1, 2013.