Arkansas is located in the south of the United States and gets its name from an old Algonquin word for Quapaw Indians. Arkansas has borders with six different states as well as the Mississippi. Its unique topography ranges from the beautiful mountain ranges of the Ozarks to the lowlands and deltas of the Mississippi River. Arkansas was incorporated into the United States when it was purchased from the French in the famous Louisiana Purchase.
The economy of Arkansas was largely based on cotton and slavery form many years. Today, the economy of the state has grown and diversified to include several different sectors, although agriculture remains the largest one. In 2005 the gross domestic product was approximately $87 billion.
Important Commercial Facts on Arkansas
1. The main agricultural outputs of Arkansas are milk, hogs, rice, cattle, soybeans, eggs and poultry. Cotton is no longer the biggest cash crop of the state.
2. Arkansas is home to several companies and organizations that are known on a global scale. These include Wal-mart, Tyson Foods and J.B. Hunt. These three organizations, and others like them, revitalized the economy beginning in the early 1970.
3. As more and more automobile plants have opened in the southern part of the country, Arkansas has met the challenge by courting parts manufacturers. They have seen a large increase in economic revenue from this venture.
4. Tourism is another large part of the economic base of the state.
Overall, Arkansas has become a popular place to do business and raise a family. In fact, a recent study by Forbes ranks Arkansas as the 21rst Best State to Do Business in. This is largely due to their relatively low business and labor costs as well as their recent growth factors.
To further diversify their economy and appeal, Arkansas is becoming a center for research and learning. Currently two major institutes, the University of Arkansas Division of Agriculture and the National Center for Toxicological Research are headquartered in Arkansas.
The ‘Natural’ State seems the ideal place to do business or to visit.
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