Northwest Arkansas, officially the Fayetteville-Springdale-Rogers, AR-MO MSA, (Metropolitan Statistical Area), has been, and will continue to be, the economic growth engine for the state of Arkansas.

It is comprised of Benton County, Madison County and Washington County, the most northwestern counties in Arkansas, and McDonald County, the most southwestern county in Missouri.  Known for a diverse economy, bolstered by such giants as Wal-Mart, Tyson Foods, and J. B. Hunt Transportation, industry thrives alongside tourism and agriculture.

One expert in economic development recently challenged a visitor to find another area in the country that has such a concentration of industry supported by a strong base of financial assets.

The soil continues to be fertile for growth in Northwest Arkansas.  For example, the MSA was the sixth-fastest growing MSA in the country from 1990-2000 at 47.5%, with Benton County growing 57.3% and Washington County growing 39.1%.  

5-Year Population Projections % Growth

Within a 25-mile radius of the MSA live 437,367 people, and within a 50-mile radius is a population of 835,232, with growth rates of 39.7 and 30.7% respectively.

This population growth has translated into jobs, which ranks the MSA as the second-fastest growing job market in the U.S., as measured by percentage of job growth.  The U.S. Labor Department shows that the Fayetteville-Springdale-Rogers, AR-MO MSA trails only the Tampa-St. Petersburg-Clearwater, FL MSA in job growth.  The unemployment rate is three-times lower than the national average.  According to the ACCRA Cost of Living Index, the MSA is ranked at 91.4% of the U.S. Cost of Living Index average.

As the job market has grown, household incomes have grown as well.

Median Household EBI*
*Estimated Median Household Effective Buying Income (EBI, sometimes known as Disposable or After-Tax income)
 

2006 Projected Average Household EBI 

Estimated Per Capita Income 1999 

In summary, the Fayetteville-Springdale-Rogers, AR-MO MSA in Northwest Arkansas has grown at a rate of 3.5 times the growth rates of the U.S., and 13.7% faster than the state of Arkansas during 1990-2000.  Job growth is 3.7% annually and the economy is very diversified.  The Cost of Living is nearly 10% below the U.S. average.

Contact the Business Development Division of the Rogers-Lowell Area Chamber of Commerce for specialized research and market information tailored to your needs.

Tom Ginn
Vice President of Business Development
Rogers-Lowell Area Chamber of Commerce
317 W. Walnut St.
Rogers, AR 72756
479-635-1240
tginn@rogerslowell.com

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