Descripción

The Arkansas Emerging Technology Development Act of 1999 (as amended in 2001) provides for an economic incentive to attract manufacturers of high tech/high growth energy technologies which are on the verge of full entry into the world-wide market. The intent of this act is to provide an environment that creates a diversity of economic opportunities for Arkansas and expands the state’s ability to attract higher paying jobs, as well as enhancing recruitment, training, and retention of a talented Arkansas workforce.

The act established a state income tax credit of 50% of the amount spent to purchase or construct a facility that designs, develops or produces photovoltaics (solar cells), electric vehicle components, fuel cells, microturbines, Stirling engines, or devices that are reliant on nanotechnology. The cost can include land, infrastructure, renovation, building improvements, and machinery. Any portion of the unclaimed tax credit may be carried forward for a maximum of 14 years.