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Izard County, Arkansas, has an annual GDP of approximately 360.8 million dollars, with a GDP per capita of about 26,247 dollars. The county experienced a notable GDP growth rate of 3.8% in the last year, which is significantly higher than the state's growth rate of 1.3% and the national rate of 1.9%. Over the past 13 years, Izard's compound annual growth rate (CAGR) stands at 0.68%, indicating slower long-term growth compared to the national CAGR of 2.2% and Arkansas's 2.12%. The county's economy is primarily driven by the service sector, contributing 58.5% to the GDP, while goods-producing industries account for 21.6%. In comparison to other counties in Arkansas, Izard's GDP per capita is lower than the state average of 54,988 dollars, highlighting economic challenges despite recent growth.
Izard County, AR, exhibits significantly lower employment rates compared to both state and national averages. The employment rate for individuals aged 20-64 stands at just 50.3%, well below Arkansas's rate of 69.3% and the national average of 73.8%. Furthermore, only 64.2% of those with a Bachelor's degree are employed, compared to 83.5% statewide and 84.3% nationally. The county's high school graduate employment rate is particularly concerning at 44.9%, far below Arkansas's 63.4%. Additionally, the employment rate for seniors (75+) is alarmingly low at 1.2%. This stark contrast highlights potential economic challenges in Izard County, suggesting a need for targeted workforce development initiatives to improve employment opportunities and educational outcomes, especially when compared to more prosperous counties like Benton and Washington.
Izard County, AR exhibits significant economic challenges compared to both state and national averages. With a mean household income of $46,159 and a median household income of $64,670, it falls below Arkansas's state averages of $56,335 and $79,592, respectively. The county's income per capita of $25,331 is notably lower than the state’s $31,868 and the national average of $41,261. Additionally, Izard County has a higher percentage of households earning less than $20,000 (21.9%) compared to the state (16.3%) and the nation (12.1%). The income inequality, indicated by a Gini index of 0.4908, suggests a moderate level of income disparity, which is slightly higher than the state average of 0.4821. Overall, Izard County's economic indicators reflect a need for targeted development strategies to improve income levels and reduce poverty.