Arkansas has an abundance of resources to help food processing companies succeed. The Arkansas Economic Development Commission works directly with food processing companies looking to start-up, expand or relocate. In addition, we assist companies with finding the best incentives so companies are able to make money quickly and efficiently.
There were 522 food and beverage companies in Arkansas at the end of 2022. These companies employed 55,130 people. Arkansas is home to Tyson Foods and numerous other food processing facilities, including Nestle, JBS USA, Kraft Heinz, Mars Inc., Cargill Inc., Hormel Foods Corp, Riceland Foods, Pilgrim’s Pride, ConAgra Brands Inc., Land O’ Frost and Frito-Lay, Inc.
Arkansas has the 5th largest percentage of food processing workers in the United States. The growth rate of the food and beverage industry from 2017 to 2022 was 6 percent in Arkansas.
The food processing industry is booming in Arkansas and continues to grow exponentially. Eight of the top 10 food and beverage companies by revenue in the world have manufacturing facilities in the state.
Arkansas is meeting the workforce needs for food processing companies. The state now has the second-largest number of food processing workers in the US and Arkansas has responded to industry growth by modernizing the workforce.
Across Arkansas, companies are rapidly growing, showing the strength of the state’s economy and the innovation of its business leaders.
Nineteen Arkansas companies recently made Inc. Magazine’s list of the fastest-growing companies in the United States. Inc. Magazine, a national business publication, released its annual Inc. 5000 list, which ranks the fast-growing privately held companies around the country.
The rankings looked at companies’ revenue growth from 2017 to 2020. To be eligible for the rankings, the privately held and for-profit companies must be based in the United States, have generated at least $100,000 in revenue in 2017, and have generated at least $2 million in revenue in 2020.
According to Inc., the 19 Arkansas companies on the list had a median growth of 206% from 2017 to 2020. In total, the companies had $441.1 million in total revenue and added 2,014 jobs to the economy.
The 19 companies and their headquarter cities are listed below, in order of appearance on the list:
Bold Strategies, an advertising and marketing firm, was named the fastest-growing company in Arkansas for 2021, coming in at #259 on the overall list. The company reported 1,781% growth from 2017 to 2020.
Stratice, an IT management company in Bentonville, had the second-highest growth in Arkansas with a 1,720% rate. The company came in at #271 on the Inc. 5000 list. The top five Arkansas companies were rounded out by Apptegy, The Cabana Group, and Integrity Construction of Arkansas, which reported growth of 668%, 524%, and 470%, respectively.
Eight of the Arkansas companies have been repeat honorees on the Inc. 5000 list. These companies include The Cabana Group, Elite Senior Care Management Company, Integrity Construction of Arkansas, Chenal Family Therapy, MHP/Team SI, Kitestring Consulting, and Slim Chickens.
The number of Arkansas companies on the Inc. 5000 list has steadily grown in recent years. In 2020, there were 14 Arkansas companies on the list – an increase of four for 2021. The 2021 results are even more dramatic compared to 2019, when 11 Arkansas companies made the list.
This list also highlights the diversity of Arkansas’ business landscape with an array of Arkansas industries represented. Arkansas’ advertising and marketing sector made a strong showing with four companies making the list, along with two IT management firms and two construction firms. Other Arkansas industries represented include consumer products and services, education, energy, financial services, food and beverage, government services, health, insurance, logistics and transportation, and software.
