Incentives

Super Projects

In November 2004, Arkansas voters overwhelmingly approved an amendment to the state constitution to help attract super projects.  Amendment 82 defines a super project as one that creates at least five hundred (500) new jobs and invests more than five hundred million dollars ($500,000,000).  The state can issue bonds to fund a prospect's infrastructure needs through the Arkansas Development Finance Authority, limited to five percent (5%) percent of net general revenues during the most recent fiscal year.

AEDC will perform a comprehensive cost-benefit analysis to determine the level of incentives the state can use to compete for the super project and still obtain a good return on the state's investment.

Examples of the type of projects that might meet the criteria for a super project and have infrastructure needs that would require bond financing could include steel mills, paper mills, corporate headquarters, pharmaceutical companies, automobile parts and assembly plants.  Emerging technologies, such as nanotechnology or biotechnology may also have needs that could be met by Amendment 82.