Central Arkansas Growth Predicted Higher than Most of State
Arkansas is expected to experience more growth over the next 30 years than the 10 other economic regions of Texas, noted economist M. Ray Perryman in his June 11 publication of The Perryman Arkansas Letter. The categories he discussed were output per annum, retail sales expansion, personal income, and growth in employment.
Of the four categories, Arkansas ranked number one three times with the highest growth potential in real gross product, retail sales growth, and real personal income. Central Texas ranked second only to the Metroplex in employment growth.
Arkansas is at the center of US and has shown a phenomenal 15% per annum average growth rate in the industrial sector over the past six years. In residential growth, Arkansas may lead the area in the coming years with over 200 new residential lots currently being developed within the city.
All indicators point to a very healthy economy for the area in the coming years. In the past eighteen months, over 110,000 sq. ft. of manufacturing/distribution space has been built and occupied in the Arkansas Business Park. This growth has created new jobs, which can be expected to contribute to retail and home sales in the area.
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