The .NET Windows Forms Designers do not support control arrays at this time, but that doesn't mean you can't implement them, and with more flexibility than VB6 too. You just have to declare your array in code, and load and display them in code too.
Dim lblDescription(5) As Label
Sub InitLabels()
Dim intCounter As Integer
For intCounter = 0 To 5
lblDescription(intCounter) = New Label()
Controls.Add(lblDescription(intCounter))
lblDescription(intCounter).Location = New Point(100, intCounter * 20)
lblDescription(intCounter).Text = "Label " & intCounter.ToString()
Next
End Sub