This bill mandates the Director of the Arkansas Economic Development Commission to produce an annual report detailing contracts awarded to businesses that have been in operation for less than five years. The report, due by January 1 of each year, will include the number and total dollar amount of such contracts, a breakdown by demographic segments and geographic areas, and the percentage of these contracts relative to the total number awarded. Additionally, the report will provide recommendations for improving access to state contracts for newer businesses, particularly those in underrepresented demographics and regions.

The first report under this new requirement is scheduled to be submitted by January 1, 2027, and will be filed with the Governor and the relevant House and Senate committees. This initiative aims to enhance transparency and support for emerging businesses in Arkansas, ensuring that they have equitable opportunities to compete for state contracts.