In the News

Preston's remarks about accountability caught the attention of one particular Rotarian, U.S. Rep. French Hill.

"I thought it was refreshing that an agency director in the state said that he would not spend all the money authorized and would turn it back, whether capital expenditure or [for] personnel," Hill said.

Both the federal and the state system encourage spending. They don't encourage saving," the congressman added.

However, the commission will soon be asking for more funding in its marketing budget to better promote the state as a place for companies and businesses to relocate and expand, the executive director said.

In regard to the state's corporate income tax structure, Arkansas is higher compared with most states.

"There are several tweaks we can make in many different areas of our tax structure to be more modernized and be more competitive with other Southern states," Preston said.

Hill agreed.

"I think it is important for the state to constantly assess its competitiveness in our corporate tax code compared to both the attraction of business internationally and domestically. I was pleased to hear that."

Any changes to the tax structure would have to be approved by the Arkansas Legislature.

Preston also renewed his commitment to increase private-sector investment, get help for the state's economically deprived rural areas and track the results of its economic development efforts.