Job Searching? Check Out These 6 Growing Industries in Arkansas
Arkansas has become a destination of choice as a place to live and work. Consider these statistics. The state is ranked:
- No. 1 in the nation for entrepreneur opportunity share.
- No. 2 for most-affordable state to live in.
- No. 5 in the U.S. for inbound movers.
“Arkansas provides a low cost of living, low cost of doing business and high quality of life,” says Clint O’Neal, executive director of the Arkansas Economic Development Commission. “It’s a place where people care about one another personally and professionally.”
O’Neal notes that state leadership believes in promoting a strong economy, which is evident through the reduction of the top-end individual tax rate to 4.4% from 7% in 2015 as well as a drop in the corporate income tax rate to 4.8% from 6.5%.
“We’ve ended the last three fiscal years with a $1 billion-plus surplus and have had a balanced budget since 1945,” O’Neal says. “We’re constantly sending those messages to companies.”
This positive business climate in Arkansas powers industry growth throughout the state, which, in turn, leads to more job opportunities for residents.
Ahead, check out six current industries that are experiencing growth in Arkansas.
In This Article
1. Technology in Arkansas
Through programs such as the Arkansas Business and Technology Accelerator Grant and FIS Fintech Accelerator, startup tech companies throughout the state gain access to education, mentorship and resources to help them thrive.
“Arkansas is a state where entrepreneurs have been known to become successful,” O’Neal says.
One obvious example: Sam Walton built the world’s largest company, Walmart, in the state.
“They’re a technology company that happens to be a retailer,” O’Neal says.
A few key players in Arkansas’ tech industry include North Little Rock-based First Orion, a telecommunications technology provider; Little Rock-based Apptegy, a software company that provides apps and websites for school districts; and Conway’s Acxiom, which enables people-based marketing.
“While entrepreneurs have created thousands of jobs for Arkansans, we believe the next Fortune 500 leaders are sitting in the school system today in Arkansas,” O’Neal says.
2. Tourism & Outdoor Recreation in Arkansas
Bill Barnes, owner and operator of Mountain Harbor Resort and Spa in Mount Ida and its two sister resorts, has worked in the Arkansas tourism industry for nearly his entire life.
His dad opened Mountain Harbor in the 1950s, and Barnes was washing dishes in the restaurant by the time he was 10.
While his resorts are bustling today, he recalls dropping out of college in 1970 to work full time in the family business when the resort’s future was cloudy.
“I knew if I went to work every day and faced everyone that at least if I lost the place, I would have done my best,” Barnes says.
But he didn’t lose the resort. It grew and expanded, along with the tourism industry in Arkansas. While summer is still the peak season, the shoulder seasons remain busy, and the resort hosts everything from fourth-generation families to first timers interested in mining for quartz in a region known as the Crystal Capital of the World.
“I remember when total tourism dollars for the state of Arkansas was $5 million or $6 million, which we thought was unbelievable,” Barnes says. “In 2022, the tourism industry was $9.2 billion.”
Now the second-largest industry in the state, tourism has seen growth that goes hand-in-hand with recent outdoor recreation investments, such as the Natural State Initiative Opportunity Zones and the Arkansas Tourism Development Act.
“I really believe Arkansas can become the national park for the United States of America,” Barnes says. “We offer such diversity of sanctuaries, whether you want to hike in the woods, follow a wonderful, abandoned railroad like the Delta Heritage Trail down in Southeast Arkansas or get in a boat and go out on one of our islands on Lake Ouachita and camp without restriction.”
3. Timber & Forest Products in Arkansas
With 19 million acres of forestland that cover 56% of the state, abundant timber, paired with sustainable water resources, provides jobs and opportunities for Arkansans. Additionally, The Natural State provides a range of tax incentives and training programs to encourage the growth of the timber and forest products industry in Arkansas.
“Arkansas is in the sweet spot of the wood basket, so there are a lot of companies that use the forestry resources for value-added products,” O’Neal says.
In 2022, Drax Group, a sustainable biomass production and supply company, began operations at the first of three planned satellite pellet plants in Arkansas, investing a total of $40 million in the state.
Other key industry players with a presence in the state include Georgia-Pacific, which makes tissue, pulp, packaging and building products; Hixson Lumber Co., a supplier of wood products; and Kimberly-Clark Corp., which manufactures products made from natural or synthetic fibers.
4. Food & Beverage Production in Arkansas
The strong agriculture industry in Arkansas – it’s No. 1 in rice production, No. 2 in poultry and eggs, and No. 3 in broilers – helps position the state as a leader in food and beverage production.
At the end of 2022, there were 522 food and beverage companies in Arkansas, employing 55,130 people. That includes Tyson Foods, one of the world’s largest processors of chicken, beef and pork, as well as manufacturing facilities for PepsiCo, Nestle, JBS USA and Kraft Heinz.
Between 2015 and 2022, there have been 111 economic development projects in the sector, with nearly 7,000 new jobs and $2.9 billion of proposed investments.
5. Metals in Arkansas
In Arkansas, the metals industry employs over 22,000 workers and accounts for 13.6% of total manufacturing. Located in the northeast corner of Arkansas, Mississippi County had a vision to be the No. 1 steel-producing county in the country. With U.S. Steel building a $3 billion mill in Osceola, that vision will soon become reality.
“From the foothills of Southeast Missouri to West Tennessee to Northeast Arkansas, you’ve got a real economic development success story going on in Mississippi County,” O’Neal says. “These jobs pay very well and don’t require a four-year degree. There are hundreds of people making in the six figures at the steel mill.”
6. Aerospace & Defense in Arkansas
Arkansas is home to more than 200 aerospace and defense companies, including Dassault Falcon Jet, Esterline and Lockheed Martin, and many of these companies are growing and creating diverse job opportunities for Arkansans.
“Whether for high school diploma recipients or people with advanced degrees, the industry offers good-paying careers,” says Mark Bremer, president of the Arkansas Aerospace and Defense Alliance, a group that works to promote aerospace, aviation and defense infrastructure in Arkansas.
“The jobs in our industry provide great benefits, great working conditions, opportunities for growth and advancement, and are just really cool,” Bremer says.
The majority of current industry job openings are in skilled trades for positions like general assembly, composite technicians, cabinet makers, upholsterers and CNC operators.
In addition to being a pro-business state, Bremer says Arkansans make the state a great place to live.
“The people here are hardworking, smart and prideful with great spirit and dedication,” he says. “Arkansas also offers many opportunities to our workforce away from work, from amazing outdoor experiences to big-city attributes with a small-town feel.”
This article was sponsored by Arkansas Tourism.
