(1) Providing the citizens of Arkansas with the education, training, and financial tools to succeed in today's global economy. The economic landscape of the state and the nation has moved from a manufacturing-based economy to one based on knowledge and technology, and to cultivate the state's economy based upon knowledge and technology, by further developing the film and digital content industry in Arkansas;

(2) Providing the financial incentives needed to foster the long-term development of the digital medium and traditional film industry in Arkansas;

(3) Recognizing that similar incentives in surrounding states have been a catalyst for unprecedented economic growth within those states and that to create an effective mechanism for the sustained growth of the film industry in Arkansas will require the passage of legislation that establishes a film production incentive program that is not only competitive but also uniquely attractive to specific types of projects, production companies, and infrastructure creation;

(4) Recognizing that a successfully cultivated film industry will create a sector of high technology in Arkansas, a much-needed infusion of capital into areas of the state that may be economically depressed, and offer to Arkansans skilled labor employment opportunities that require knowledge and pay well;

(5) Recognizing that the temporary revenue loss to seed the initial growth will be offset by the film and digital content industry's total value added to the Arkansas economy and directly offset through the state and local taxes collected on economic activity generated by the industry;

(6) Allowing Arkansas to become competitive with surrounding states that offer financial incentives to the film and digital content industry;

(7) Creating a vibrant film and digital content industry in Arkansas that will be essential to retain highly educated and creative individuals in Arkansas who want to pursue a career in this field;

(8) Recognizing that the state is uniquely qualified to attract digital form product providers to live, work, and play within its borders due to the state's natural settings, availability of labor and materials, climate, and the hospitality of its people; and

(9) Recognizing that the Motion Picture Incentive Act of 1983, previously codified at this subchapter, which was one of the first incentives offered to the motion picture industry and allowed the state and motion picture industry to develop a strong partnership, resulted in a significant increase in the number of movies filmed in Arkansas.