As used in this subchapter, unless the context otherwise requires:
(1) “Bids” means proposals submitted to the state for the sale of products to the state;
(2) “Penal institution” means a penitentiary, jail, prison, reformatory, or other such establishment owned, operated, or funded by a state or local government wherein incarcerated criminals are kept;
(3) “Private industry” means manufacturers, makers of products, companies, corporations, or firms which are not departments, divisions, or arms of the federal, state, or local governments;
(4) “Private industry located within the State of Arkansas” means private industries, as defined in subdivision (3) of this section, which are located in Arkansas, employing Arkansas citizens and taxpayers as laborers in the process of manufacturing goods and products within this state; and
(5) “State” means the government of the State of Arkansas and all departments, branches, agencies, and subdivisions thereof.