ECONOMY AND BUSINESS OPPORTUNITIES
As Texarkana grows, the cities’ leaders intentionally take steps to continually improve the day-to-day lives of their citizens and those who will come in the future. Success for the city will mean building an economically strong, business friendly environment poised to welcome new industry.
The combined population of the twin cities is over 60,000 but includes a market of more than 149,000 people across the Texarkana TX-AR Metropolitan Statistical Area. Among these individuals is a dedicated and skilled workforce with a strong work ethic, resulting in successful operation and continued growth in several industries. Unemployment rates are comparable to the national average, but as our population benefits from a lower cost of living, residents can thrive in this economic climate. Location is key when considering opportunities for business in Texarkana. Access to key markets from the Midwest to the Gulf Coast, made convenient by our proximity to several major interstates, gives Texarkana an edge in drawing opportunity. With access to Texarkana College and University of Arkansas Hope-Texarkana, along with a four-year university, Texas A&M-Texarkana, and a state medical school, University of Arkansas for Medical Sciences-Southwest, the training of qualified employees is easily
Business Retention and Expansion is a critical component to our region’s economic development efforts. What most people do not know is that many new projects are a result of our current industries expanding— meaning new jobs and capital investment. They serve as the backbone of our economy employing our residents and contributing to our tax base. Every time an existing industry expands, our economy grows stronger and more resilient.”
within our reach. Add to all of that a dedicated and skilled labor force, and you begin to recognize all the potential of the area.
HOUSING AND COST OF LIVING According to Kiplinger’s magazine, Texarkana ranks
number 17 in their top 25 cheapest cities in the United States to live. The twin cities have a cost-of-living percentage that is 13.4% lower than the national average. Median household incomes are about $45,000 and the unemployment rate as of December 2020,
was 5.9% compared to the national average of 6.7%. With beautiful neighborhoods and affordable housing options, from large historic homes and modern new builds, to apartment and multi-family units, or trendy downtown lofts, Texarkana has the perfect home for every taste. As housing costs make up a large portion of every budget, Texarkana can boast housing rates at just over half the national average. You can find beautiful farmland for quiet country living, take advantage of the charms of suburbia near neighborhood schools and churches, or experience the excitement of nightlife right outside your door with downtown living. Communities of friendly neighbors and the safety of our police patrolled streets, Texarkana, Arkansas or Texas is a great place to call home.
Rob Sitterley, CEO, AR-TX REDI
24 | Texarkana Community Directory | Spring 2021
Spring 2021 | Texarkana Community Directory | 25
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