3 companies repaying incentives to Ark. fund
LITTLE ROCK (AP) - Arkansas officials say three companies have repaid incentive money to the Governor's Quick Action Closing Fund so far this year, and more are expected to do so after the recent announcement of layoffs at Hewlett-Packard and Nordex USA.
Arkansas Business reports that Allied Wireless, Nice-Pak of Jonesboro and Pinnacle Foods in Fayetteville have repaid a total of $215,000 for missing promised employment goals after receiving a total of $8 million in economic incentives.
The Arkansas Economic Development Commission says it's now in negotiations with HP and Nordex for a refund.
Nordex received $2.5 million from the fund and in June, the company announced it was stopping production at its Jonesboro wind turbine plant. HP had been awarded $10 million for its Conway facility, where 500 jobs are being eliminated.Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.