Economic Development

The Little Rock Regional Chamber’s top priority is the economic development of the region.

• Support the creation of a permanent economic development funding source at the local level
• Support continued funding of the Governor’s Quick Action Closing Fund
• Support the elimination of sales tax on natural gas and electricity used in the manufacturing process
• Support and enhance the Arkansas Economic Development Commission’s, Arkansas Science and Technology Authority’s, and the Arkansas Development Finance Authority’s programs, incentives, and resources
• Support the legislative priorities of Accelerate Arkansas to raise the state’s per capita income to the national average by 2020 
• Support the passage of the following two constitutional amendments which will appear on the 2010 ballot:

HJR 1007

To amend Amendment 82 of the Constitution of Arkansas to authorize the General Assembly to establish criteria before authorizing the issuance of bonds for prospective employers planning an economic development project.

HJR 1004

An amendment providing that constitutional provisions setting the maximum lawful rate of interest on bonds issued by and loans made by or to governmental units are repealed; the maximum lawful rate of interest on loans by federally insured depository institutions shall remain at the rate resulting from the federal preemption effective on March 1, 2009; establishing that the maximum lawful rate of interest on any other loan or contract shall not exceed seventeen percent (17%) per annum; authorizing governmental units to issue bonds to finance energy efficiency projects and allowing such bonds to be repaid from any source including general revenues derived from taxes; providing that any federal laws applicable to loans or interest rates are not superseded by the amendment; and repealing Article 19, § 13, and the interest rate provisions of Amendment Nos. 30, 38, 62, 65, and 78 of the Arkansas Constitution.