Key Facts
- Per Capita Real GDP
- $27,781 Rank: 49/50 (2007)
- Population
- 2,855,390 Rank: 32/50 (2008)
- Per Capita Personal Income
- $27,935 Rank: 48/50 (2006)
- Unemployment Rate
- 5.60% Rank: 43/50 (2008)
- Business Tax Climate Index
- Rank: 35/50 (2008)
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Arkansas: Introduction
Arkansas is located near the geographical and population center of the United States. It is often classified in different regions because the Midwest, Southwest, and Southeast all converge in Arkansas. This has given the state a diverse geographical makeup featuring timberland, mountains, plains, and the alluvial valleys of the Arkansas and Mississippi Rivers.
The name Arkansas derives from a name meaning “south wind”, which the Algokian-speaking Indians of the Ohio Valley gave to the Quapaws. As Arkansas joined the Union, debate over the correct pronunciation and spelling of the state ensued between two U.S. senators. In 1881, the State General Assembly decided on a compromise and declared the state would be spelled “Arkansas” but pronounced “Arkansaw.”
Agriculture continues to be the leading industry in Arkansas commanding more than 25 percent of the state’s economy. It is the US leader in rice production, second in poultry, and third in catfish. However, the state is slowly moving away from its dependency on primary products. Manufacturing now accounts for 18 percent of GDP and there has also been strong growth in services. One of the key industries for the growth of manufacturing is the aerospace industry. Exports in this industry increased 65% in 2005, following a 35% increase in 2004.
