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Grant County, Arkansas, presents a challenging economic landscape, with an annual GDP of approximately 518 million dollars and a GDP per capita of 28,751 dollars, significantly lower than the state average of 54,988 dollars and the national average of 77,754 dollars. The county's GDP growth rate has declined by 3.8% over the past year, contrasting sharply with the state's growth rate of 1.3% and the national rate of 1.9%. Notably, Grant County has a high goods-producing GDP contribution of 42.1%, indicating a strong reliance on manufacturing and agriculture, compared to the state’s 22%. However, this sector's dominance has not translated into overall economic growth, as evidenced by its negative growth rate and low per capita income, highlighting the need for economic diversification and development strategies to improve its economic standing relative to other counties in Arkansas.
Grant County, AR exhibits an employment rate of 68.3% for individuals aged 20-64, which is slightly below the Arkansas state average of 69.3% and significantly lower than the national average of 73.8%. However, it stands out with an impressive employment rate of 92.9% for those with a Bachelor's degree, surpassing both the state (83.5%) and national (84.3%) figures. The county's high school graduate employment rate is 61%, which is also below the state average of 63.4%. Notably, Grant County has a low employment rate of 17.2% for Black individuals, indicating potential disparities in employment opportunities. Compared to other counties in Arkansas, Grant County's overall employment rates reflect a mixed performance, particularly excelling in higher education employment but lagging in broader workforce participation.
Grant County, AR exhibits a mean household income of $68,598 and a median household income of $88,493, positioning it favorably compared to the state average of $56,335 and the national average of $75,149. The county's income per capita stands at $35,170, which is higher than the state average of $31,868, indicating a relatively strong economic position within Arkansas. Notably, 10.7% of households earn over $200,000, surpassing the state average of 8.6%, while 13.2% earn less than $20,000, which is lower than the state average of 16.3%. This suggests a more balanced income distribution in Grant County compared to other counties, such as Pulaski and Sebastian, which have higher income inequality. Overall, Grant County reflects a robust economic environment, contributing positively to the regional economy.