State Resources


Arkansas Business Resources

Arkansas is located near the geographical and population center of the United States. It is often classified in different regions because the Midwest, Southwest, and Southeast all converge in Arkansas. This has given the state a diverse geographical makeup featuring timberland, mountains, plains and the alluvial valleys of the Arkansas and Mississippi Rivers.

Agriculture continues to be the leading industry in Arkansas, commanding more than 25% of the state’s economy. It leads the United States in rice production, is ranked second in poultry, and third in catfish. However, the state is slowly moving away from its dependency on primary products. Manufacturing now accounts for 18 percent of GDP, and there has also been strong growth in services. One of the key industries for the growth of manufacturing is the aerospace industry. Exports in this industry increased 65% in 2005, following a 35% increase in 2004.

Business Data

Per Capita Real GDP$27,875 Rank: 48/50 (2006)
Population2,673,400 Rank: 33/50 (2000)
Per Capita Personal Income$27,935 Rank: 48/50 (2006)
Unemployment Rate5.60% Rank: 43/50 (2008)
Business Tax Climate IndexRank: 35/50 (2008)
Corporate Tax Rate1% - 6.5%
Individual Tax Rate 1% - 7%
Sales Tax Rate 6%

Business Tax Climate Index

Individual Income Tax Index Rank29
Sales Tax Index Rank37
Unemployment Insurance Tax Index Rank18
Property Tax Index Rank16
Business Tax Climate Index35
Corporate Tax Index Rank35

State Information

AbbreviationAR
CapitalLittle Rock
Nick NameNatural State
State Web Sitehttp://www.arkansas.gov
MottoThe People Rule

Top 5 Export Partner Countries

Canada, Mexico, France, United Kingdom, China

Top 5 Export Merchandise

Transportation Equipment Sales Primary Metals Sales Chemicals Manufacturing Transportation Equipment Manufacturing Electrical Equipment Manufacturing

Major Cities

Fort Smith, Little Rock, North Little Rock

GDP

Total Gross Domestic Product (USD Millions) $95,371.00 (2007)
Per Capita Real GDP (USD)$27,781.00 Rank: 49 (2007)

Population Stats

Population 2,855,390 Rank: 32 (2008)

Age Distribution

Under 18 Population680,369
Under 18 Percent of Total Population25%
65 and older Population374,019
65 and older Percent of Total Population14%

Gender Distribution

Male Population48.8%
Female Population51.2%
Non-English Speaker (at home)96,849
Net International Immigration21,947
Birth Rate14%
Percent of People Under Poverty Level17.2%
Rank6

Expenditure

Per Capita State Spending$19,188
Rank13
Energy Expenditures per Person$4,225
Expenditures of State and Local Government Employee-Retirement Systems$865,217

Revenue

Personal Income$39,934
Rank48
State Internal Revenue Collection$27,340,140
Rank26
Cash and Deposits by State Government$386,212
Per Capita State Tax Collection$2,514
Rank20

Education

High School Graduation Rate79.1%
Rank9
Percent of Population with a Bachelor's Degree12.4%
Rank47
Percent of Population with an Advanced Degree6.3%
Rank50

Largest Universities

University of Arkansas, Fayetteville University of Arkansas, Little Rock University of Central Arkansas
High School Graduation Rate79.1%

Logistics

Public Road Length (Mile)99,005
Gas Tax Rate (%)21.7%
Highway Planning and Construction (USD Thousands)415,195
Number of Public Airports99

Main Airports

LIT: Little Rock

Ports

Helena

Weather


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State Business Links

Arkansas Online
http://www2.arkansasonline.com

Secretary of State

Arkansas Secretary of State
http://www.sosweb.state.ar.us
Provides information about state elections, holidays, agency functions and services, and the current Secretary.

Small Business Administration

Arkansas Small Business Administration
http://www.sba.gov/localresources/district/ar/index.html
Welcome to our Arkansas District Office. We are privileged to assist the small businesses that serve our state so well. The 200,000 small businesses in Arkansas employ one million people and provide nearly half of all Arkansas jobs. We are a small staff with our main office in Little Rock, and two field offices in Fayetteville and Jonesboro. Each year, our office helps to provide about $100 million in loans to small businesses, we and our SBA-funded partners provide management training and consulting to thousands of entrepreneurs, and we help small business owners pursue contracts from the federal government and prime federal contractors.

Top 10 Business Links

Arkansas Business
http://www.arkansasbusiness.com/default.aspx
This Arkansas business journal provides news articles sorted by industry. In the research section, find Arkansas business lists, company profiles, a commercial real estate guide, and more.
Arkansas Agriculture
http://www.aragriculture.org/
This website gives detailed information on Arkansas’ biggest industry, agriculture. Information is sorted by subtopic within a major agricultural area, such as biosecurity or insect management in soybean production.
Arkansas Government Business Resources
http://www.arkansas.gov/business_res.php
An Arkansas government page that provides links to other pages of interest to the business community. Link examples include economic development resources, tax information and professional licensing.
Arkansas Online
http://www2.arkansasonline.com/news/business/
This online news source, associated with Arkansas Democrat Gazette, provides up-to-date business news, along with other types of news. Subscription may be required to view some articles.
Center for Business and Economic Research
http://cber.uark.edu/
This CBER provides a wealth of economic information for Arkansas, such as macroeconomic data, financial data, price indices, employment data, population data, and other miscellaneous Arkansas data. Historical information is also available going back to 2001.
U.S. Export Assistance Center of Arkansas
http://www.buyusa.gov/arkansas/
The Arkansas branch of the Department of Commerce that specializes in helping small to medium sized companies develop and execute exporting strategies. Fees vary and are based on the service being provided.

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