Springdale Tops Arkansas Tech Business Index For First Time

Springdale took the top spot for July on the Arkansas Tech Business Index with a rating of 106.38, an increase of 1.09 points from June.

It is the first time in the 19-month history of the ATBI that Springdale has held the No. 1 position. 

The ATBI encompasses a labor index, housing market index, construction index and retail sales index, all based around a rating of 100. A city rating above 100 indicates that a city is doing better than the state average from 2009 to the present.

The index, created by the ATU College of Business and sponsored by Arvest Bank, is intended to provide a snapshot of economic activity around Arkansas.

Three municipalities saw their ATBI rating jump by more than one point in July: El Dorado (1.50), Pine Bluff (1.32) and Russellville (1.28).

“The reason [El Dorado] is the largest gainer is because its tax rate declined from 1.25 percent to 0.25 percent in July,” Marc Fusaro, associate professor of economics at Arkansas Tech and developer of the ATBI, said in a news release. “This led to an increase in retail activity in the city. However, watch for drop in October when the rate goes back up.”

Joining Springdale with an ATBI rating above 100 for July are: 

• Fayetteville (2nd, 105.22)
• Bentonville (3rd, 105.16)
• Rogers (4th, 104.11)
• Fort Smith (5th, 102.50)
• Conway (6th, 102.10)
• Mountain Home (7th, 100.46)
• Hot Springs (8th, 100.28)

Below 100 are: 

• Van Buren (9th, 99.19)
• Russellville (10th, 99.03)
• El Dorado (11th, 98.65)
• Searcy (12th, 98.01)
• North Little Rock (13th, 97.38)
• Jonesboro (14th, 96.92)
• Texarkana (15th, 96.25)
• West Memphis (16th, 95.93)
• Pine Bluff (17th, 94.50)
• Little Rock (18th, 92.65)

Only three cities showed a greater than one-point decrease month-to-month: Fort Smith, down by 1.51; West Memphis, down by 2.48; and Little Rock, down by 1.26. Half of the cities showed positive change since June.