Arkansas’ principal industries are agriculture, business services, forestry, manufacturing, tourism, and transportation logistics. Additional interesting sectors include aerospace and aviation, biosciences, data, distribution and logistics services, firearms and ammunition, healthcare, paper and timber products, smart grid technologies, software development, data management services, and steel production.
The startup scene in Arkansas is booming. A strong talent pool, a growing number of incubators and accelerator programs, and available funding and incentives have created a welcoming environment for entrepreneurs of all types.
Global Investments Support Arkansas Job Growth
May 23, 2017Impact on Arkansas Jobs and Economy
Arkansas is among the top five states in foreign direct investment growth over the last five years. According to the Organization for International Investment, global investment has resulted in the employment of 46,400 workers across Arkansas – an increase of 30 percent since 2002. More than 60 percent of all FDI jobs in the state can be found in the manufacturing sector. That’s nearly 29,800 workers in Arkansas – almost double the national average. Of the nearly 450 global employers in Arkansas, the companies supporting the largest amount of jobs in the state are those from the United Kingdom, Japan and France. In the past five years, FDI employment in Arkansas has increased by 41.5 percent, while the state’s overall private-sector employment has increased 2.6 percent.
Several global companies have recently announced plans to invest in manufacturing centers in Arkansas. Chinese clothing maker, Tianyuan Garment Factory, plans to invest $20 million and build a new Adidas manufacturing center in Little Rock. The company plans to create 400 new jobs in the state.
Other major industrial announcements in the state’s Delta, include the Big River Steel plant in Osceola employing 450 people earning $75,000 a year, and the Hino Motors Manufacturing plant in Marion now employs 750.
Nationwide Impact
The U.S. Bureau of Economic Analysis recently released preliminary statistics indicating that foreign direct investment in the United States totaled $396 billion in 2016, up 12 percent over 2015. Across the nation, U.S. workers at global companies earn 30 percent higher compensation than the economy-wide average, making $80,041 annually. Global investment now employs 6.4 million U.S. workers, and these workers are producing 26 percent of all U.S. exports. A large percentage of these FDI jobs, 37 percent, can be found in the manufacturing sector, where more than two million workers in America earn their living.
