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CNBC has released its annual ranking of states in terms of their business environment, and Arkansas comes in at No. 31.
The ranking considers cost of doing business, work force, quality of life, technology and innovation, access to capital, cost of living, transportation and infrastructure, and business friendliness.
Visitors to this web site must surely be shocked that Arkansas isn’t ranked higher, but give us time….
So, what do you think? Did Arkansas get short-changed or did we get what we deserve? How does Arkansas rate in terms of the CNBC categories? How could Arkansas improve?
Let us know in comments.
[...] CNBC ranked Arkansas 31st for doing business; readers react. [...]
The good news is that we got very high ratings in the cost categories…and cost is an extremely important factor! I don’t think AR deserves to be #1 on this list, but I am surprised about the relatively low ranking. When you look at our “bottom half” rankings, they are: Quality of Life (44th), Transportation (33rd), Technology & Innovation (44th), Education (32nd), Business Friendliness (32nd), and Access to Capital (36th).
Quality of Life: On one hand, I think “coastal” polls will always view the QOL poorly in “flyover country.” On the other hand, crime and health care seem to be major component of this rating. Crime is clearly a problem in some areas, and outside of a few bigger towns, AR seems to have health care access and trauma care problems. I guess we deserve this…we need to improve.
Transportation: Come on…that rating can’t be right. AR is in the middle of the best region in the country for distribution businesses. Our employee air travel access & pricing needs to improve, but our logisitcs costs have to be among the best in the US. I think this rating is too low.
Tech & Innovation: Score seems a little low (are we REALLY behind HI, ME, MS?), but I agree that this is an area where AR is playing catch-up. The good news is that we do seem to be catching up. We need to keep up the good progress.
Education: We are improving. I hope we have a goal of cracking the top 20 at some point.
Business Friendliness: I have lived / worked in or done extensive business in 15 states across the US…AR is at least #1 among those 15. I don’t understand the low rating.
Access To Capital: Lots of recent progress is evident, including the very existance of IA, but still work to do. With all of the “new money” in this state since the 1980’s, this needs to be leveraged into a strength. If that happens, it will drive several of the other categories on the coattails.
When considering both quantitative and qualitative factors influencing CNBC’s 10, Arkansas’ standing is methodically accurate. In review of each factor’s theory in ranking, Arkansas’ momentum in future years rankings is contingent upon improvement in the areas of transportation, quality of life, and technology and innovation.
Why Transportation? 300pts Possible, Arkansas 88
CNBC considered air travel and road quality. Kudos for the expansion of the LR Airport and recent Southwest Airlines flight schedule addendum to New York. However, limited carriers and flight flexibility are critical factors in the overall vitality of air travel. On roads: Heavy and frequent construction on major access roads-highways-interstates- is a commuter’s nightmare, yet this is a necessary evil. Most major metropolitan epicenters are equipped with an advanced system of public transportation. The limited routes of Center Arkansas Transit and the Rivermarket train in Arkansas epicenter could use expansion.
Arkansas Living Quality-350pts Possible, Arkansas 102
Of the factors mentioned and attributed to CNBC rankings: local attractions, crime rate, and healthcare, air and water quality, the state’s score might have been “short-changed” in assessment. The Arkansas Dept of Parks and Tourism, LR Rivermarket Associations (Neighborhoods and Commerical establishments), and actions by the City of Little Rock’s Board of Directors are key elements to improving in this area.
Technology and Innovation-250pts Possible, Arkansas 51
The state is a rising star in this category as advancements in technology and integration of major broadband establishments continue to show promise in innovation.
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