2018 ARKANSAS ECONOMIC OVERVIEW

Transcription

1 2018 ARKANSAS ECONOMIC OVERVIEW

2 #2 Highest Percentage of Manufacturing Employment in the South - NAM #9 Lowest Cost of Doing Business - CNBC 6 Fortune 500 Companies Headquartered in Arkansas OVERVIEW 2

3 GEOGRAPHY Arkansas is strategically located in the center of the United States. Its borders adjoin Texas, Louisiana, Mississippi, Tennessee, Missouri and Oklahoma with the Mississippi River forming the state s eastern border. MO OK TX LA AR MS TN Mississippi River Land Surface: 34,036,717 acres East: Alluvial valleys of the Arkansas and Mississippi rivers, with agricultural land dominated by cotton, rice, and soybeans North and West: Mountainous or coastal plains South: Wildlife refuges and timberlands Navigable Waterways: approx. 1,000 miles Class 1 Railroad: 1,683 miles Public Airports: approx. 100 State and U.S. Highways: 16,418 miles

4 POPULATION 2010 Census 2,915, Estimate 2,998, Projection 3,078,000 Source: U.S. Census Little Rock, Capital City Skyline MAJOR URBAN CENTERS (2016) 1 Fayetteville-Springdale-Rogers, AR - MO MSA 5 Little Rock-North Little Rock-Conway, AR MSA 2 525,032 Fort Smith, AR - OK MSA 281, ,622 Memphis, TN - MS - AR MSA 1,342,842 3 Hot Springs, AR MSA 97,447 7 Pine Bluff, AR MSA 91,962 4 Jonesboro, AR MSA 8 Texarkana, AR MSA 129, ,098

5 POPULATION by county 2016 Benton 258,291 Washington 228,049 Crawford 62,267 Sebastian 127,793 Scott 10,277 Logan 21,792 Polk Montgomery 20,173 8,879 Sevier 16,910 Little River 12,451 Franklin 17, 626 Howard 13,337 Miller 43,787 Madison 16,072 Pike 10,832 Hempstead 21,974 Carroll Boone 27,646 37,304 Johnson 26,176 Yell 21,552 Lafayette 6,847 Newton Searcy 7,932 7,967 Garland 97,477 Nevada 8,398 Pope 63,779 Clark 22,657 Columbia 23,901 Perry 10,132 Hot Spring 33,372 Ouachita 24,098 Marion Baxter 16,325 41,062 Van Buren 16,628 Conway 20,937 Saline 118,703 Dallas 7,469 Union 39,887 Stone 12,537 Faulkner 122,227 Fulton 12,123 Izard 13,433 White 79,263 Pulaski Lonoke 393,250 72,228 Grant Jefferson 18,082 70,016 Calhoun 5,144 Cleburne 25,264 Cleveland 8,241 Bradley 10,996 Source: U.S. Census Bureau, Population Division Lincoln 13,705 Drew 18,651 Ashley 20,492 Sharp 17,157 Independence 37,168 Prairie 8,251 Monroe 7,169 Arkansas 18,214 Jackson 17,221 Desha 11,876 Chicot 10,945 Randolph 17,448 Lawrence 16,735 Woodruff 6,641 Cross 17, Lee 9,310 Phillips 18,975 Poinsett 24,023 Clay 14,920 Greene 44,598 Craighead 105,835 St. Francis 26,196 Crittenden 49,235 Mississippi 42,835 5, - 15, 15, - 25, Source: U.S. Census Bureau, Population Division + - AGE BREAKDOWN (2016 ESTIMATE) Median Age: , , , , , ,734

6 COST OF LIVING INDEX 88.4% Source: C2ER, 2016 Annual CLIMATE: Temperate with 4 seasons TEMPERATURE average high average low 72.8 /52.5 Source: ANNUAL PRECIPITATION 51.94

7 STATE OF BUSINESS ARKANSAS IS A RIGHT TO WORK STATE 3.8% union membership rate third lowest in the U.S. Source: Bureau of Labor Statistics 6 are headquartered in Arkansas

8 NATURAL RESOURCES WATER Arkansas has over 283,000 hectares (699,293 acres) of surface water. Over 800 billion liters of high quality ground water are contained in aquifers. TIMBER Forests cover approximately 19 million acres, or 53% of the entire state. Timber growing, harvesting, management, transporting, and processing are major industries in Arkansas. MINERALS Commercial Production Bromine (#1 in world) Cement Rock Clay Crushed Stone Dimension Stone Gravel Gypsum Kaolin and Fireclays (#4 in the US) Lasco (#1 in the US) Limestone Marble Sand Serpentine Rock Shale Silica Sand Slate Syenite Novaculite (only producer in US) Quartz Crystals (#1 in the US) OIL Crude Oil Total Production 4,035 thousand barrels (2016) Natural Gas Total Production 826,917 million cubic feet (2016) Reserves 4,279 billion cubic feet (2015) Coal Total Production 91 thousand short tons (2015) Number of mines 2 (2014)

9 BUSINESS CLIMATE/GDP 40% of the U.S. population is within a day s drive (550 miles/880 kilometers) NUMBER OF FOREIGN COMPANIES 151 NUMBER OF INTERNATIONAL OPERATIONS Countries Represented Source: Arkansas Foreign Owned Business Report, August REAL GROSS DOMESTIC PRODUCT FOR ARKANSAS (MILLIONS OF CHAINED 2009 DOLLARS) TOTAL GROSS DOMESTIC PRODUCT= $108,676 Services 21.8% Wholesale & Retail Trade 14.6% Manufacturing 14.3% Finance/Insurance/Real Estate 14.3% Government 12.5% Agriculture/Forestry/Fishing/Hunting/Mining 5% Information 4.2% Transportation/Warehousing 3.9% Construction 3.6% Art, Entertainment, Recreation 2.9% Utilities 2.5%

10 PRINCIPAL INDUSTRIES MANUFACTURING PRINCIPAL MANUFACTURING GOODS Chemicals Machinery Electronic Equipment Paper and Pulp Food and Kindred Products Rubber and Plastic Products Furniture Steel Lumber and Wood Products Transportation Equipment PRINCIPAL AG PRODUCTS (2016) & NATIONAL RANKING TRANSPORTATION LOGISTICS RICE #1 POULTRY #2 AGRICULTURE CATFISH #3 GRAIN SORGHUM #4 FORESTRY COTTON #5 COTTONSEED #6 BUSINESS SERVICES SWEET POTATOES #6 SOYBEANS #10 TOURISM

11 Mark Hamer Director, International Business Development Arkansas Economic Development Commission T: Arkansas Economic Development Commission 900 W. Capitol Ave., Little Rock, AR ARKANSAS ArkansasEDC.com

12 Arkansas Economic Development Commission / 900 West Capitol Avenue, Suite 400 / Little Rock, AR 72201, USA / arkansasedc.com