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Madison County, Arkansas, exhibits a notable economic profile with an annual GDP of approximately 595 million dollars and a GDP per capita of about 35,577 dollars. The county's GDP growth rate of 13% over the last year significantly outpaces both the state growth rate of 1.3% and the national rate of 1.9%, indicating a robust local economy. The compound annual growth rate (CAGR) of 5.5% over the past 13 years further underscores this positive trend. A striking feature of Madison County's economy is its high goods-producing GDP contribution of 49.7%, which is substantially above the state average of 22%. This suggests a strong manufacturing or agricultural base compared to other counties in Arkansas, such as Benton and Pulaski, which rely more on service-providing sectors. Overall, Madison County's economic performance reflects a dynamic and growing regional economy.
Madison County, AR exhibits an employment rate of 68.9% 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%. The county's employment rate for those with a Bachelor's degree stands at 77.8%, trailing behind the state (83.5%) and national (84.3%) figures. Notably, Madison County has a high employment rate for high school graduates at 67.9%, aligning closely with the state average of 63.4%. However, the county's employment rate for Black individuals is reported as 0%, indicating a potential data anomaly or significant demographic challenges. Comparatively, neighboring Benton County boasts a robust employment rate of 79%, highlighting the economic disparities within the region. Overall, Madison County faces challenges in employment rates, particularly for degree holders, which may hinder its economic growth relative to other counties in Arkansas.
Madison County, AR, exhibits a Mean Household Income of $51,514 and a Median Household Income of $70,891, which are below the state averages of $56,335 and $79,592, respectively. The county's Income Per Capita stands at $27,709, significantly lower than both the state ($31,868) and national averages ($41,261). Additionally, 14.2% of households earn less than $20,000, indicating a higher prevalence of low-income households compared to the state average of 16.3%. The Gini index of 0.4553 suggests a relatively lower income inequality compared to other counties in Arkansas, such as Pulaski and Benton, which have higher Gini indices. Overall, Madison County faces economic challenges, particularly in income levels, compared to both state and national benchmarks, highlighting the need for targeted economic development initiatives.