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Kiwanis Club October 17, 2007

Kiwanis Club October 17, 2007. 86 th Arkansas General Assembly. 75 Democrats, 25 Republicans 2,816 bills filed Convened 1/8; Recessed 4/3. Hottest Topics in 2007. $919 Million Surplus Repeal half of grocery tax Repeal income tax obligation for those under federal poverty line

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Kiwanis Club October 17, 2007

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  1. Kiwanis Club October 17, 2007

  2. 86th 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 www.underthedome.com

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