Texarkana Offers Reasons To Visit, Options To Stay

by Arkansas Business Staff  on Monday, Mar. 24, 2014 12:00 am  

With two new convention centers, a water park and Four States Fair grounds, Texarkana is drawing first time visitors to the area in record numbers.

As an example, this year the Texarkana Chamber of Commerce played a major role in attracting and planning for three major conventions to be held in Texarkana over the next two years. Each will attract 400 to 600 participants plus family members. The estimated economic impact of just those three events is estimated to be between $750,000 and $1 million. The added long-term value is that many of the visitors will return and perhaps even relocate in the area.

In just the last four years, Texarkana has earned recognition and seen development of major destination points, putting the region into the national spotlight:

  • Forbes ranked Texarkana in the top 100 small places in the country for business and careers.
  • During the recession, Kiplinger.com ranked Texarkana as one of the top five housing markets that enjoyed the greatest home-price increases.
  • In 2013, Area Development Magazine ranked Texarkana in the top 100 leading locations for overall communities; top 20 for small cities; top 20 for economic strength factors; top 20 “recession busting” cities and in the top 10 Southern cities.
  • During this period, Texarkana was ranked No. 2 on Forbes’ list of small metro areas with the fastest growing gross metropolitan product.
  • The Milken’s Institute’s Best Performing Cities Index ranked Texarkana in its top 20 of 124 small metro areas.
  • Bloomberg Business Week listed Texarkana in the top 25 of the next recovering job markets.

More Facts About Texarkana

Population of Texarkana cities - 66,330  
• Texarkana, Texas - 36,411 • Texarkana, Ark. - 29,919
Population of Texarkana
Metropolitan Statistical Area - 136,027
 
• Bowie County, Texas - 92,565 • Miller County, Ark. - 43,462

Average Household Income in Texarkana Metro:

• 2000 - $43,895
• 2010 - $57,621
• 2012 - $58,703 (estimated)

Source: U.S. Census Bureau

Property Tax

• Texarkana, Texas - 2.35% (Taxable Value = Assessed Value: $100,000)
• Texarkana, Ark. - 1.10% (Taxable Value = 20% of Assessed Value: $20,000)

Source: Assessors’ Offices of Miller County, Ark., and Bowie County, Texas.

Sales Tax

• Texarkana, Texas - 8.25%

• Texarkana, Ark. - 10.0%

State Income Tax

• Residents of Texas - none

• Residents of Texarkana, Ark. - exempt from Arkansas state income tax

 

 

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