GTEDC

2009 GTEDC Federal Legislative Agenda

GTEDC 2009 Federal Agenda The South Arkansas Golden Triangle Economic Development Council supports the following Federal agenda items for 2009.

Workforce and Entrepreneurship Training and Development: Legislation to support a continuation of Community-based Job Training Program grants, W.I.R.E.D. Program grants, Regional Innovation Program grants, S.T.E.M. Training grants, entrepreneur training and other initiatives to utilize the nation’s community and technical college and four-year university systems as a delivery mechanism and key partner in educating our future workforces and start-up businesses, including training for green jobs. Legislation to allow workforce training expenses to qualify as a “knowledge credit” in the Federal R&D Tax Credit program.

Incentives for Renewable Energy Investment, Research, Development, Production, Distribution, and Consumption: Legislation to support tax credits, feasibility grants, and other federal commitments to encourage and support investments, research, development, production, distribution, and consumption to utilize natural resources as renewable energy sources, including lignite, timber, bio-fuel resources, bromine, oil and aggregates. Legislation to extend small issue Industrial Development Bonds to include new economy industries such as renewable energy production facilities. Legislation to provide tax credits to defense manufacturers which preserve jobs by converting defense manufacturing capacities to renewable energy manufacturing lines.

Funding Highway Projects: Legislation to support continued funding for both existing and future corridors in the Arkansas Primary Highway Network.

• The completion of 4-lane Highway 167 from Fordyce to I-530 with Sheridan Bypass
• I-69 through the heart of the Golden Triangle
• 4-lane Highway 82 from El Dorado to Magnolia with a future goal to complete the
  4-lane Highway 82 across South Arkansas
• 4-lane Highway 79 from Camden to Magnolia

Quality of Rural Life Investment Incentives:  Legislation to provide tax credits or exemptions as inducements or incentives to attract private investments in quality of life projects of strategic value to rural communities in attracting new population and workforce and in retaining young adults in particular; such projects to include retail development, tourism attractions, and privately-owned recreational/cultural amenities.

Backup Water Supply Systems: Legislation to mandate the development of state backup water supply plans and fund a pilot demonstration program to plan and engineer regional emergency water systems which also create opportunities for economic transformation through commercial and residential development around man-made backup water supplies.

Investment Tax Credits for Start-Up and Early-Stage Businesses: Legislation to institute federal tax credits to stimulate private angel and seed capital investments in start-up and early-stage businesses, and to reverse the negative impact of tightening loan markets on emerging businesses.

SBA Equity Investments: Legislation to reinstate the equity provided by Small Business Investment Corporation (SBIC) program, operated by SBA. Incorporate additional safeguards that are equivalent, as appropriate, to the debenture SBIC program.

Innovation: Create a National Innovation Foundation or other national entity to coordinate innovation programs such as that proposed by the National Innovation and Job Creation Act of 2009 (S. 3078).

Research and Technology Support: Reauthorize the SBIR/STTR program and implement greater flexibility within the programs to increase commercialization services. Authorize the Federal and State Technology Partnership program designed to support state and local SBIR/STTR efforts.
Brownfields Programs: Reauthorize the EPA Brownfields program; increase the funding and raise the cap for the Brownfields Cleanup grant program to more realistically reflect true cleanup costs.
Support Reauthorization and Fully Fund EDA: Review EDA programs to insure that they are effectively addressing rapidly changing economic conditions and hardships in states and communities, and revise accordingly.

Infrastructure Investment: Create an independent national infrastructure bank, as proposed in
S. 1926, to implement a national infrastructure vision and support regional economic development and greater sustainability.

2009 GTEDC State Legislative Agenda

The Board of Directors for the Golden Triangle Economic Development Council has voted

to support the following state legislative agenda items for 2009-2010.

Funding Highway Projects: Legislation to (a) support continued funding for both existing and future corridors in the Arkansas Primary Highway Network and (b) give higher priority to highway projects which are economic development driven using the projected dollar value of business generated by a highway project as a prioritized investment criteria considered along with the volume of traffic.

Higher Education Capital Funding: Support the Governor’s recommendation to fund the Higher Education Coordinating Board’s request for new capital investments in state higher education.  To support the Governor’s recommendation for additional operating capital in higher education and funding for special economic development initiatives within higher education.

Incentives for Production and Use of Alternative Fuels: Establish incentives for bio-fuel production and consumption. Support tax credits, and state economic commitments toward the research and development of South Arkansas’s natural resources which includes lignite, timber and bio-fuel resources.

Energy Sales Tax: Eliminate or further reduce the 4% sales tax on energy (natural gas and electricity) used in manufacturing.

Retain the Create Rebate Program: Resist any legislation to cut back, limit or eliminate the Create Rebate incentive program.  This program has increased in its outlay of dollars from approximately $3 million annually to approximately $15 million annually.

Maintain or Expand the Governor’s Quick Action Closing Fund: (a) Renew funding for the Governor’s Quick Action Closing Fund at a minimum level of $50 million. And, (b) consider legislation to increase and expand the scope of the Governor’s Quick Action Fund to include large-scale institutional, commercial and residential developments in regions having difficulty attracting private investment.

Quality of Rural Life Investment Incentives: Legislation to provide tax credits or exemptions as inducements or incentives to attract private investments in quality of life projects of strategic value to rural communities in attracting new population and workforce and in retaining young adults in particular; such projects to include retail development, tourism attractions, and privately-owned recreational/cultural amenities.

Backup Water Supply Legislation: Legislation to mandate the development of a state backup water supply plan and provide for state bonding authorization to construct regional emergency water supplies and connection lines between communities, while at the same time creating opportunities for economic transformation through commercial and residential development around man-made back-up water supplies.

Sales Taxes in TIF Districts: Constitutional amendment to allow TIF districts to use sales tax or legislative authorization for a Star Bond type program that will allow sales taxes to retire debt.