(a) The Division of Science and Technology of the Arkansas Economic Development Commission shall:
(1) Identify technological areas for which centers for applied technology should be designated, including, but not limited to, technological areas that are related to enterprises with significant potential for economic growth and development in Arkansas and areas that are related to the enhancement of productivity in various enterprises in Arkansas;
(2) Establish, in consultation with the Department of Higher Education, criteria that must be satisfied for designation as a center, including, but not limited to:
(A) An established record of research, development, and instruction in the area of technology;
(B) The capacity to conduct research and development activities in collaboration with private enterprises;
(C) The capacity to secure substantial private and other government funding for the proposed center;
(D) The ability and willingness to cooperate with other colleges and universities in conducting research and development activities and in disseminating research results and to work with institutions of higher learning to enhance the quality of technological education in the area or areas of technology involved; and
(E) The ability and willingness to cooperate with the division, the Arkansas Economic Development Council, and other economic development agencies in promoting the growth and development in Arkansas of enterprises based upon or benefiting from the areas of technology involved; and
(3) Designate, using a competitive selection process, those centers for applied technology to be created in cooperation with colleges and universities in the state.
(b) The division may not designate technological areas or establish centers prior to the division's adopting rules to govern the program authorized under this section, §§ 15-3-130, 15-3-131, 15-3-133, and 15-3-134.
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