Statutes > Arkansas Statutes > Title 15 - Natural Resources and Economic Development > Subtitle 1 - Development Of Economic And Natural Resources Generally > Chapter 4 - Development Of Business And Industry Generally > Subchapter 30 - Arkansas General Obligation Economic Development Superprojects Bond and Project Funding Act > § 15-4-3002 - Legislative findings.

§ 15-4-3002 - Legislative findings.

15-4-3002. Legislative findings.

The General Assembly finds that:

(1) Independent studies have confirmed that the State of Arkansas and its people have not been able to participate in and enjoy the economic development benefits to be gained from the location in Arkansas of a superproject, as have many other southern states, resulting in a loss of opportunity for our citizens and a further loss for economic expansion in Arkansas;

(2) The government of the state must take bold steps to establish an adequate program for funding and financing superprojects;

(3) The location in Arkansas of superprojects will help alleviate severe economic instability and economic distress among the citizens of Arkansas; and

(4) A superprojects program will provide means for accelerated progress in the economic development of the state, thereby providing increased payrolls, job opportunities, and tax income to support the public services of this state.