(a) The Arkansas Economic Development Commission may work with the chancellors and presidents of research universities and the private business sector to support collaborations establishing an alliance for the purpose of improving the economy of the state through:
(1) Improving research infrastructure;
(2) Increasing the focus on job-creating research activities within or supported by the research universities; and
(3) Expanding job-creating research activities toward producing more knowledge-based and high-technology jobs in this state.
(b) The commission shall designate no more than five (5) institutions of higher education as research universities for the purposes of this subchapter.
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