The Little Rock area is the central hub of Arkansas’ economy. Central Arkansas has enjoyed significant economic and population growth in recent history, and the Little Rock area continues to grow, gaining more and more impressive national ratings in economy, commerce, and industry. Little Rock has recently made Kiplinger’s “10 Great Places to Live,” Gallup’s “America’s Happiest Cities,” Moody’s “Most Diverse Economy in the Nation,” Forbes “Top 200 Best Places for Business and Careers, as well as Kiplinger’s “Best Value City” feature.
According the City’s website, Little Rock and the Central Arkansas area have seen over $2.5 billion in economic development since 1994. This growth has been both characterized and facilitated by an increasingly active private sector and a highly dedicated Regional Chamber of Commerce.
Strong economic growth in Central Arkansas has also driven new commercial and residential real estate development trends. In 2015, Little Rock saw significant commercial real estate development, exemplified by new retail and industrial areas.
Even more significant commercial growth has appeared in the past few years. Shoppers from all over the state now come to Little Rock to visit the Outlets at Little Rock, the Bass Pro Shop, stores and restaurants at Shackleford Crossing, and the new Dave and Buster’s sports bar and arcade.
Central Arkansas is a great place to start a business—the state offers tax incentives for industrial and economic development. Advantage Arkansas Income Tax Credit, ArkPlus, Create Rebate, Free Port Law of Arkansas, InvestArk Sales and Use Tax Credit, Targeted Business and Tax Back Sales & Use Tax Refund are just some of the programs in place to offer entrepreneurs the opportunity to get off the ground or establish their business in Arkansas while enjoying low taxes.
The Hewlett Packard presence in Conway
Major industry has also been increasingly active in Central Arkansas. Aviation, for instance, has been and continues to be a dynamic industry in the Little Rock area. Little Rock is home to the facilities of companies such as Dassault Falcon Jet, Raytheon, and Central Flying Service that contribute greatly to the economy and provide tons of jobs. Biotechnology is also an emerging industry in Central Arkansas.
Aside from the growing commercial and industrial sectors, real estate development in Central Arkansas has been impressive. The area has seen “years of steady appreciation in commercial real estate values,” and this appreciation is expected to continue as more and more real estate is demanded for business and industrial growth.
All in all, this increased activity has boosted the Central Arkansas economy. The increased business activity in the local economy has led to greater cash flow, the creation of countless new jobs, and new residential real estate transactions and development. If you are deciding where to move or start your business, choose Central Arkansas and become part of the increasingly strong economy!
