Ark. Code Ann. § 15-3-702: Legislative findings

The General Assembly finds that:

(1) The federal Small Business Innovation Research Program encourages innovative small businesses to engage in federal research and commercialization that has the potential for technological innovation and commercialization;

(2) Stimulating research and commercialization grows the economy by leveraging investment, creating exportable products and services, and creating and retaining high-wage, high-tech jobs in moderately and highly skilled occupations;

(3) Arkansas consistently ranks poorly among states in the number of federal Small Business Innovation Research grants awarded; and

(4) An inducement, in the form of a matching grants program, is needed to encourage Arkansas businesses to apply for federal Small Business Innovation Research grants and realize economic benefits of commercialized research.