Committee Approves Paragould Senator's Bill on Tax Breaks for Business Recruitment - KAIT Jonesboro, AR - Region 8 News, weather, sports

Little Rock, AR

Committee Approves Paragould Senator's Bill on Tax Breaks for Business Recruitment

MARCH 22, 2005 - Posted at 3:17 p.m. CST

 

LITTLE ROCK, AR - Legislation designed to help Arkansas recruit businesses through targeted tax incentives was endorsed by a House committee today.  The bill won approval despite concerns over how Arkansas competes with surrounding states.

The bill by Senator Tim Wooldridge (D-Paragould), would give tax breaks to certain research and development and medium-sized industrial companies.

Companies would have to become established in the state and have a payroll of at least $50,000 before they could apply for the incentives.  He said the legislation was needed to ensure some existing companies do not leave Arkansas and to help the state lure other companies.

(The Associated Press contributed to this report.)

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