(a) As used in this section, “qualified medical company” means a corporation engaged in:
(1) Research and development in the medical field; and
(2) Manufacture and distribution of medical products, including therapeutic and diagnostic products.
(b)
(1) All agencies, departments, boards, commissions, and other instrumentalities of this state and all political subdivisions of this state and all agencies, departments, boards, commissions, and other instrumentalities thereof, to the greatest extent possible, shall expedite the processing of all lawful applications and requests required or permitted by law which are submitted or made by qualified medical companies and, in considering all such applications and requests, give due consideration to the purposes of this section.
(2) To the extent available time, personnel, and other resources permit, all state-funded colleges and universities shall provide research assistance to the Arkansas Economic Development Commission to assist with planning to develop scientific, medical, and technological commercial infrastructure enhancements to encourage qualified medical companies to locate in this state.