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Kiwanis Club October 17, 2007. 86 th Arkansas General Assembly 75 Democrats, 25 Republicans 2,816 bills filed Convened 1/8; Recessed 4/3.

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Presentation on theme: "Kiwanis Club October 17, 2007. 86 th Arkansas General Assembly 75 Democrats, 25 Republicans 2,816 bills filed Convened 1/8; Recessed 4/3."— Presentation transcript:

1 Kiwanis Club October 17, 2007

2 86 th Arkansas General Assembly 75 Democrats, 25 Republicans 2,816 bills filed Convened 1/8; Recessed 4/3

3 Hottest Topics in 2007 $919 Million Surplus  Repeal half of grocery tax  Repeal income tax obligation for those under federal poverty line  Partial repeal of sales tax on energy consumption for manufacturers Public School Funding/Facilities/Lake View case Economic Development: 5,000 jobs created since January

4 Current issues affecting Texarkana Tax Structure Streamlined Sales Tax Act Current economic development west of Richmond Infrastructure Magnet schools Merging of services

5 Future needs locally Short-term Economic Development: Just need that one announcement Retain existing industry Revitalization of downtown College Hill Loop 245 frontage TASD Long-term HB1826: Funding to the Red River Navigational Waterways Project North-South Interstate 49 Four-lane U.S. Hwy. to El Dorado THSRTC How to attract/pay for all this?

6 Top two priorities in Arkansas Economic Development  $50M Quick action closing fund  Tax relief for manufacturers  Well situated for cellulosic gasoline (timber, switchgrass)  5,000 new jobs Job development at research universities Geographic location – central to large markets Reversing of trends – bringing jobs from overseas  Windmill blades (Danish co.)  Large pipe manufacturers (Indian co.)  Aerospace industries (Dassault)

7 Top two priorities in Arkansas, Cont’d. Education  Elevating quality of workforce (UNC, UVA)  Fmr. Gov. Warner (Va.) approach  2010 Commission – UofA  Pre-K  Bottom line: Have to have an educated workforce to attract high paying positions  The “lists”

8 Arkansas Legislative Update


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