“We need a renewed emphasis on industry retention while helping to expand the businesses already here and attracting new ones. The mission of the Arkansas Department of Economic Development, first and foremost, should be aggressively seeking to provide better-paying jobs that offer a greater quality of life to our people. As we look forward to the future, we must put a special focus on the industries of the 21st century that will ensure our long-term success. It will require a change in philosophy, and that must begin at the very core of our efforts. We can not see tomorrow with yesterday’s eyes.”
~ Governor Mike Beebe
To help attract new manufacturers and retain the ones we have, Governor Beebe has proposed a partial exemption of sales tax on the gas and electricity consumption of manufacturers. Reducing their tax rate from six percent to five percent is the first step in eliminating the tax on utilities for manufacturers, making Arkansas more competitive with her sister states.
Building stronger relationships between community colleges and economic-development efforts must be a focus of our mission. The Arkansas Delta Training and Education Consortium in East Arkansas is the model for matching the curricula of our colleges to the needs of potential businesses and area employers in the State.
To give Arkansas the ability for aggressive economic development, we need to dedicate $50 million of the General Improvement Fund, enabling the State to attract new businesses and retain existing ones. If we are going to compete with our sister states and with foreign nations, we must have the ability to aggressively negotiate in real time and in good faith.
As we look to the future, we must put a special focus on the industries of the 21st century that will establish our long-term economic success. Today, there is the possibility to create gasoline – not ethanol - from cellulose products that already grow right here in Arkansas. Imagine stopping at a gas station and filling your tank with fuel made from Arkansas wood products and created at an Arkansas bio-refinery.
The potential to create ethanol also exists from products from right here in Arkansas, Such as cellulose products, animal waste, and soybeans. All of these can serve as the foundation for our energy needs and conservation stewardship.
We must also encourage the further expansion of bio-diesel in Arkansas to fill the needs of a growing market. An investment today can seed the industry of the future right here in our own backyard.
“When people look across the globe to Arkansas, they should see the future of the bio-fuels industry – from cellulose products to animal waste and soybeans – the foundation for our energy needs and conservation stewardship is going forward.”
~ Governor Mike Beebe