‘Where the Money Is’ (Editorial)

A home in the downtown Bentonville area near the city's water tower (Shutterstock)

Last week’s article on the biggest deals in Arkansas in 2023 highlighted what’s been apparent for some time now: the emergence of private equity investors in northwest Arkansas.

SymBiosis Capital Management, Ingeborg Investments and the Walton Family Foundation, all of Bentonville, and NewRoad Capital Partners of Rogers participated in sizable investments in a number of companies, with a focus on biotech and other technologies.

Notorious criminal Willie Sutton, asked why he robbed banks, said, “Because that’s where the money is.” The U.S. Bureau of Labor Statistics makes it clear that, in Arkansas, the money is in the northwest corner of the state. In 2022, per capita personal income totaled $98,822 in Benton County, putting it at the top among Arkansas’ 75 counties. Pulaski County was No. 2 at $61,575, 38% less.

Of course, the Walton family accounts for much of the wealth of Benton County, heavily skewing the statistics. Alice Walton alone is worth $56.7 billion. But the region’s status as home to corporate giants like Walmart, Tyson Foods and J.B. Hunt also contributes to the concentration of capital.

So to those startups here in Arkansas and elsewhere: “There’s gold in them thar hills.”