FAYETTEVILLE, Ark. (KNWA/KFTA) — A new report from the Walton Family Foundation found an increase in business startups across Northwest Arkansas, compared to other major cities.
The study compared Northwest Arkansas to cities including Austin, Texas; Raleigh, North Carolina and Provo, Utah to see how the region compares in new business creation.
The report found an increased growth rate, from 4.9% in 2018 to 6.7% in 2021, which outpaces all benchmark cities except Provo.
The study also found that business ownership rates in the area are steadily increasing.
“We want entrepreneurship to diversify the economy beyond its traditional industry base and make us more resilient through market shifts and continue to be able to provide good-paying and sustainable jobs,” said Yee-Lin Lai, senior program officer for the Walton Family Foundation.
Startups make up over 37% of Northwest Arkansas’ businesses.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
For the latest news, weather, sports, and streaming video, head to KNWA FOX24.
Comments