Arkansas Receives 2023 Silver Shovel Award for Continued Economic Growth

During 2022, Arkansas attracted a wide range of economic development projects, as companies moved to and expanded in the state. Spanning multiple industries, these projects are creating thousands of new jobs for Arkansans and stimulating investment throughout Arkansas.

As part of its 18^th annual Shovel Awards, industry publication Area Development awarded Arkansas a Silver Shovel Award in the “2+ to 4 Million Population Category.” Arkansas had more than $4.2 billion in investment during 2022, resulting in the creation of 4,037 new jobs with an average wage of $27.42.

This is the third consecutive year that Arkansas has received a Silver Shovel Award from Area Development. The state received Silver Shovel Awards in the “3+ to 5 Million Population Category” in 2021 and 2022, as well as Silver Shovel Awards in the “Under 3 Million Population Category” in 2014 and in the “Under 5 Million Population Category” in 2009.

The Shovel Awards are designed to “recognize states for their achievements in attracting high-value investment projects that will create a significant number of new jobs in their communities.” Area Development looked at projects across all 50 states and ranked projects initiated in 2022 based a series of weighted factors, including “number of new jobs to be created in relation to the state’s population, the combined dollar amount of the company investments, the number of new facilities, and the diversity of industry represented.”

“This award would not be possible without the hard work of communities around Arkansas and the companies that chose to invest in our state,” said Clint O’Neal, executive director of the Arkansas Economic Development Commission. “Arkansas had a banner year for economic development in 2022, and with a full pipeline of projects, we look forward to continued success.”

Area Development highlighted economic development wins in the food and beverage, distribution, and steel industries that Arkansas landed in 2022. Projects spotlighted by Area Development include Hostess Brands’ new $120 million state-of-the-art bakery in Arkadelphia that will create 150 new jobs; Tractor Supply’s new distribution facility in Maumelle that will create 450 new jobs; Hybar’s new steel rebar facility in Mississippi County that will create 200 new high-paying jobs; Fiocchi USA’s new primer manufacturing facility at the Port of Little Rock that will create 120 new jobs; W&W|AFCO Steel’s new steel fabrication facility at the Port of Little Rock that will create 115 new jobs; and Lifeplus International’s new facility in Batesville, which will result in the creation of 150 new jobs.