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Springdale Chamber News 7/13/16

 

The economy of Springdale and the entire Northwest Arkansas region is predicted to be the fifth most robust in the nation through the year 2021 according to a recent report.

Researchers with IHS Global Insight, preparing their report for the U.S. Conference of Mayors, predict our region will rank No. 8 in the U.S. in its job growth rate in 2017.

 The IHS report continues a series of positive economic and quality of life reports about Northwest Arkansas and how it stacks up against the nation's other metropolitan areas. In recent months, Forbes put Springdale's metro area at No. 2 on its list of Best Midsize Cities for Jobs and No. 3 on a U.S. News and World Report ranking of Best Places to Live.

Only four U.S. regions - two in Utah and two in Florida - are expected to see their economies grow at a faster rate than Northwest Arkansas through 2021. The 3.9 percent annual growth rate predicted for Northwest Arkansas will push the region's economy past $30 billion.

"This is great news for Springdale and for our region," said Perry Webb, Chamber president. "The extremely strong job growth we enjoy is a catalyst for economic prosperity."

Job growth will be a major driver in the region's continued strong economic performance. The report shows jobs increased in our region by 5 percent in 2015. The region's job growth wasn't expected to rank in the nation's Top 10 this year, but it will be ranked again in 2017, coming in at No. 8, the analysis shows.

With a gross metropolitan product of $26.1 billion in 2015, Northwest Arkansas ranked No. 94 in the U.S. It ranks No. 198 in the world, putting it right behind El Salvador ($26.3 billion).  

 

 

 
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