Construction accounted for $5 billion, or 4 percent, of Arkansas’ gross domestic product of $123 billion in 2015. Nationally, construction last year contributed $717 billion of the U.S. GDP of $17.8 trillion, also 4 percent.
Construction wages and salaries last year totaled $381 billion in the United States and $2.3 billion in Arkansas.
Other impacts of the construction industry in Arkansas:
- Private nonresidential construction spending totaled $1.7 billion in 2014.
- Construction employment in Arkansas in July 2016 totaled 49,800, an increase of 0.8 percent compared with July 2015 and a 14 percent decrease from Arkansas’ peak in March 2007.
- Construction workers’ annual pay in Arkansas averaged $44,100, 9 percent more than all private-sector employees in the state.
- Arkansas had 5,100 construction firms in 2014; 91 percent of those had fewer than 20 employees.
Source: The Associated General Contractors of America
Sign up for Daily E-news
