HB1841

House Bill 1841 amends the Arkansas Constitution and the Local Job Creation, Job Expansion, and Economic Development Act of 2017 to expand the definition of 'economic development projects.' Specifically, it allows retail facilities to qualify as economic development projects if they meet certain criteria established by the General Assembly. To qualify, a retail project must be considering a site in Arkansas that competes with an out-of-state location, meet specific job creation thresholds (75 full-time jobs for urban areas or 25 for rural areas), reach minimum annual projected sales, and demonstrate significant planned capital investment. Additionally, the project must receive support from the local city and county governing bodies via resolution. The bill also provides clear legal definitions for 'rural' and 'urban' areas within the state for the purpose of these projects.