(a) The General Assembly determines that:

(1) There is urgent need in the State of Arkansas to prepare persons with training and expertise in the field of engineering and the fundamentals of management;

(2) Current needs of Arkansas's diversified industry and the demands for future expansion will require engineers in managerial positions who have a broad-based education that would enable them to make managerial and administrative decisions from an engineering viewpoint;

(3) The orderly development of Arkansas in the areas of environmental control, energy recovery, waste processing, community hygiene, land utilization, and other related areas requires personnel who can translate engineering principles into effective action while performing as responsible managers;

(4) Studies have disclosed that approximately two-thirds (2/3) of engineers eventually assume managerial responsibility; and

(5) It is essential to the continued growth and development of the State of Arkansas that appropriate college-level training be provided in the state for persons in the area of engineering management.

(b) It is the intent and purpose of this section to fill this urgent need by establishing a college of engineering management at Arkansas State University at Jonesboro to provide college-level training for new entrants into the field of engineering management, in-service training for practicing engineers who will eventually assume managerial duties, for persons planning to assist municipalities with their systematic growth and development, and for other appropriate personnel in similar or related fields.

(c) There is created and established and there shall be maintained and operated at Arkansas State University at Jonesboro the College of Engineering Management.

(d) The curriculum, schedule, and administrative structure of the college shall be established and determined in the same manner as in other colleges at Arkansas State University.