Significant Job Retention Requirement    Targeted Programs generally require a more significant job requirement than job creation programs. This is demonstrated in Michigan, Ohio and Illinois.    This requirement is reminiscent of job creation programs fifteen years ago. The job creation benchmarks were much higher then as new programs and policies were tested. Modernization Requirement    In exchange for an incentive, Targeted Programs generally require that capital be invested to retool or modernize the facility for long-term sustainability. Examples of this requirement can be found in Arkansas, Indiana, and Missouri.    InvestArk, created by the state of Arkansas through the Consolidated Incentive Act of 2003, is a sales and use tax credit available to businesses that have been in operation for at least two years and that invest at least $5 million in plant or equipment, new construction, expansion or modernization.    The Economic Development for a Growing Economy Tax ("EDGE") Credit, administered by the Indiana Economic Development Corporation ("IEDC"), was initially created in 1994 to reward companies for new job creation. In July 2005, the EDGE credit was expanded to support job retention for certain research and development, manufacturing, and business services projects.    As an additional requirement for a retention project, a company must demonstrate that a plan has been prepared to use the EDGE credit proceeds for either investment in facility improvements or machinery and equipment upgrades, repairs, or retrofits; or for other direct business related investments.    The Missouri Quality Jobs Program ("Quality Jobs"), effective August 28, 2005, is a tax relief program established primarily for job creation projects. A late modification allowed the relief to apply to job retention too.    Job retention projects are allowable for companies that represent a substantial risk of relocation from the state and maintain a significant number of employees at a location. In addition to a job requirement, the project must also, within two years, invest either $70 million or $30 million and maintain an annual payroll of at least $70 million. The new investment includes the purchase or lease of new tangible assets that are directly related to the new job creation. In the program's first year, 25 projects were approved, two of which were for job retention.