Beebe Supports Lifting Business Investment Ban - KAIT Jonesboro, AR - Region 8 News, weather, sports

Beebe Supports Lifting Business Investment Ban

LITTLE ROCK, Ark. (AP) - A spokesman says Governor Beebe supports lifting a constitutional ban blocking the state from investing in private companies.

Spokesman Matt DeCample says Beebe favors House Speaker Robbie Wills' proposed constitutional amendment that would lift the ban and allow the state to invest in technology-based enterprises.

Wills says he'll soon add details to the bill, which exists now only as a shell. DeCample says research at state schools like the University of Arkansas for Medical Sciences and the University of Arkansas at Fayetteville could spin off companies and products with great potential.

 In exchange for its investments, the state could receive stock or other securities in companies. --- Information from: Arkansas Democrat-Gazette, http://www.arkansasonline.com

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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