Arkansas § 15-4-3402 - Legislative intent.

§ 15-4-3402. Legislative intent.

The General Assembly finds that: The support of regional economic development efforts is vital to the economic health and vitality of the state; In order to increase the income of Arkansans at a growth pace greater than the national average and to compete more effectively in the global marketplace for new business and jobs, the state must invest in innovative economic development strategies; The economy of the state varies significantly, and effective policies and programs must be customized to take advantage of resources and strengths within a particular region; New economic development strategies will meet the special needs and take advantage of the extraordinary assets of particular regions of the state instead of relying on a single approach; When economically feasible, the state should assist regional public and private efforts to promote economic development by providing state funds to share the cost of eligible marketing and promotional expenses associated with implementing a regional strategic plan; and The Governor's Strategic Plan for Economic Development is focused on increasing the capacity of a region of Arkansas to participate in economic development.