The Center for Business and Economic Research (CBER) at the Sam M. Walton College of Business is partnering with the Northwest Arkansas Council to release the annual State of the Northwest Arkansas Region Report on Thursday, Oct. 24, 2024, at 11:30 a.m. The event will be held at Fayetteville Town Center, located at 15 W. Mountain St., Fayetteville, Arkansas [4540b15c]. Mervin Jebaraj, the director of CBER, will present economic data and discuss projections for both the national and regional economy [4540b15c].
This year's report will compare Northwest Arkansas to peer regions, including Madison, Wisconsin, and Austin, Texas, providing a comprehensive analysis of the area's economic standing [4540b15c]. The Northwest Arkansas Council will also host a panel discussion focusing on the impact of innovative and established companies on the region's economy [4540b15c].
The cost for attending the program and luncheon is set at $50, with preregistration required by Oct. 18, 2024 [4540b15c]. The Sam M. Walton College of Business, founded in 1926 and AACSB-accredited, serves nearly 9,000 students, contributing significantly to the educational and economic landscape of the state [4540b15c]. The University of Arkansas, established in 1871, is noted for contributing over $3 billion to the state's economy [4540b15c].
In addition to this upcoming report, the Northwest Arkansas economy has been thriving, as discussed in previous analyses by Jebaraj, who projected strong U.S. GDP growth of 3% to 4% in the third quarter [603ca417]. The region has seen significant population growth, attracting new businesses and creating job opportunities [603ca417]. However, concerns about the sustainability of this growth remain, particularly regarding higher borrowing costs and potential demand slowdowns [322cddfc].
The Shreveport-Bossier area's local economy is also on solid footing, with a decrease in local inflation to 3.2% in October and a drop in unemployment to 3.7% [6cdc156f]. Despite these positive signs, challenges such as underemployment and stagnant wages continue to affect the region [6cdc156f].
The Black Owned Northwest Arkansas Business Expo in Fayetteville has also gained traction, showcasing nearly 70 businesses and attracting over 900 attendees, highlighting the resilience and creativity of the Black business community [8e85f403].
OzCon, the Ozarks Gaming Convention, recently took place in West Plains, MO, providing a platform for attendees to showcase their creativity and connect with successful individuals in the entertainment industry [111976da]. This event reflects the vibrant culture and community spirit in the region, further contributing to the area's economic landscape [111976da].
In conclusion, the upcoming State of the Northwest Arkansas Region Report promises to provide valuable insights into the economic health of the area, while ongoing events and initiatives continue to foster growth and collaboration within the community [4540b15c].