Arkansas Moving Toward Mega-Deal Fund

Legislation that would give a state development agency the authority to issue bonds for “superprojects” passed the House on Friday. The measure by Rep. Sid Rosenbaum, R-Little Rock, would authorize the Arkansas Development Finance Authority to issue bonds benefiting companies investing at least $400 million and creating 400 jobs. Economic development officials cited Arkansas’ recently losing out on a Toyota plant to San Antonio to illustrate why such authority was needed, saying the state can’t move quickly enough under current law.

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