According to Forbes, Arkansas ranks 21st for The Best State for Business.
| Gross state product |
$103 billion |
| Per capita median income |
$35,295 |
| Unemployment rate |
8.3% |
| Major industries |
Manufacturing industries, agriculture and aquaculture |
| Major sectors |
Agriculture, manufacturing, services |
The gross state product of Arkansas in 2010 was $103 billion. In 2004, its per capita household income was $35,295. The unemployment rate in August 2011 was 8.3%. Since 1970s, the state has experienced an economic boom. Many global economies are headquartered in the state, including Wal-Mart, J.B. Hunt, and Tyson Foods.
Agriculture contributes significantly to the economy of Arkansas. Main agricultural outputs are poultry and eggs, soybeans, sorghum, cattle, cotton, rice, hogs, and milk. It ranks third in terms of channel catfish aquaculture. It was the first state in the Union to develop commercial catfish farms. In 2007, the state's catfish producers generated sales of $71.5 million.
Tourism and industry are important to the Arkansas economy. It was officially nicknamed "The Natural State" for state tourism advertising. Major industrial outputs are food processing, electric equipment, fabricated metal products, machinery, paper products, bromine, and vanadium. According to Forbes, the state ranks 21st for The Best States for Business. It imposes a state income tax in six brackets, ranging from 1% to 7%.
