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15-4-1709. Exceptions.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-4-1709. Exceptions.
(a) A county that does not qualify as a high-unemployment county, as defined in § 15-4-1702, but has experienced a sudden and severe period of economic distress caused by the closing of a business entity that results in the loss of a minimum of five hundred (500) full-time permanent jobs or a minimum of five percent (5%) of the employed labor force, as determined by the most recent “Labor Market Information” publication published by the Division of Workforce Services, may be designated as a high-unemployment county by the Arkansas Economic Development Council.
(b) The designation as a “high-unemployment county” shall be in effect for one (1) year after the closing of the business.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-4-1709
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:15-4-1709
Source file: gov.ar.code.title.15.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 59ea3ab5e8009c8c355d62e690af3e8624416ef6c3a637c6159c20a28df8895c
Source location: content.xml paragraph 3522
Stored source content
15-4-1709. Exceptions.
(a) A county that does not qualify as a high-unemployment county, as defined in § 15-4-1702, but has experienced a sudden and severe period of economic distress caused by the closing of a business entity that results in the loss of a minimum of five hundred (500) full-time permanent jobs or a minimum of five percent (5%) of the employed labor force, as determined by the most recent “Labor Market Information” publication published by the Division of Workforce Services, may be designated as a high-unemployment county by the Arkansas Economic Development Council.
(b) The designation as a “high-unemployment county” shall be in effect for one (1) year after the closing of the business.
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Arkansas Code — all titles (historical 2020) · legal_authorities
15-4-1702. Definitions.
As used in this subchapter:
(1)(A) “Average hourly wage” means the average wage of the net new full-time permanent employees based on payroll for the most recent quarter reported to the Division of Workforce Services.
(B) “Average hourly wage” is computed by using the total of the net new full-time permanent employee's reported taxable earnings, including overtime pay and one quarter (¼) of the employee's annual bonus amount, divided by the number of weeks worked during the most recent quarter, divided by the average hours worked per week per net new full-time permanent employee;
(2) “Commission” means the Arkansas Economic Development Commission;
(3) “Corporate headquarters” means the home or center of operations, including research and development, of a national or multinational corporation;
(4) “Distribution center” means a facility for the reception, storage, or shipping of:
(A) A business's own products or products that the business wholesales to retail businesses or ships to its own retail outlets;
(B) Products owned by other companies with which the business has contracts for storage and shipping if seventy-five percent (75%) of the sales revenues are from out-of-state customers; or
(C) Products for sale to the general public if seventy-five percent (75%) of the sales revenues are from out-of-state customers;
(5) [Repealed.]
(6)(A) “Existing employees” means those employees hired by the business prior to the date of the financial incentive plan.
(B) Existing employees may be considered net new full-time permanent employees only if:
(i) The position or job filled by the existing employee was created as a result of the project; and
(ii) The position vacated by the existing employee was either filled by a subsequent
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-4-1702
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 15-4-1702. This identifies an authority to review, not proof of applicability.