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CEO Guide to Site Selection

Arkansas

A GROWING FUTURE OF FOREIGN INVESTMENT

Arkansas continues to build a solid future in manufacturing as homegrown tech companies announce new expansions. Little Rock-based education technology company Apptegy announced more than 300 new jobs. Arkana Laboratories also announced a $30 million expansion and 74 new jobs in the next five years in Little Rock. The state also continues to attract new foreign investment. Irish healthcare communications company RelateCare and Italian ammunition company Fiocchi recently announced major investments here. Anthony Acitelli, Fiocchi of America president and CEO, credited the decision to “strong ties with the state” and a “highly experienced and energetic labor force.”
“Arkansas’ economy is booming and with that comes new facilities, businesses, homes–and the manufacturing jobs that supply them all.”
Sarah Huckabee
Governor

TAXES

0 %

top corporate income tax

# 0

on the Tax Foundation’s State Business Tax Climate Index ranking

EDUCATION

0 %

of adults 25 years of age and older graduated high school

0 %

of adults age 25 and older have a bachelor’s degree or higher

UNEMPLOYMENT RATE

0 %

RIGHT TO WORK STATE

Yes

QUALITY OF LIFE

# 0

POPULATION GROWTH

0 %

increase between 2010 and 2020

KEY INCENTIVES

Advantage Arkansas: Offers a state income tax credit for the creation of jobs based on the payroll of new, full- time, permanent employees hired.

Tax Back: Provides sales and use tax refunds on the purchase of building materials, machinery and equipment to eligible businesses.

ArkPlus: A state income tax credit program that provides tax credits of 10% of the total investment in a new location or expansion project.

Equity Investment Incentive Program: Discretionary income tax credit of up to 33.3% of amount invested for technology-based businesses offering wages above state or county averages.

EDCs

Arkansas Economic Development Commission
arkansasedc.com

Association of Arkansas Development Organizations

arkansaseconomicregions.org

Little Rock Regional Chamber

littlerockchamber.com/economic-development

Fort Smith Regional Alliance

fortsmithregionalalliance.com

HIGHLIGHTED PROGRAM OR INITIATIVE

In July 2023, The Arkansas Economic Development Commission announced that is expanding its focus on small business and entrepreneurship by restructuring its Small Business and Entrepreneurship Development Division. The new division focuses on entrepreneurial ecosystem support, science and technology and minority and women-owned businesses.

BIG DEALS

  • Astara Capital Partners opened the Camden Timbers sawmill in February 2023 and created 50 jobs.
  • Cypress Cold Storage broke ground in April 2023 on anew facility and created 50 jobs in Springdale.
  • Westrock Coffee announced in June 2023 an expansion in Conway that will create 600 jobs over the next five years.
  • Dollar General announced in August 2023 a $140million distribution center and nearly 300 new jobs in North Little Rock.
  • Hybar, LLC announced in August 2023 a $700 million project that will create 140 jobs.
  • DriveSmart announced in September 2023 it would lo-cate its new call delivery facility in Newport, a move that is expected to create 200 jobs over the next three years

BIG COMPANIES

Walmart (Fortune 500 headquarters)

Tyson Foods (Fortune 500 headquarters)

Murphy USA (Fortune 500 headquarters)

J.B. Hunt Transport Services (Fortune 500 headquarters)

Dillard’s

J.B. Hunt

ArcBest

Windstream Holdings