Hitting the Bullseye
The Industry at a Glance
- Home to the Duck Hunting Capital of the World: Stuttgart, Arkansas
- 3rd in economic output per capita in the arms and ammunition industry (Source: National Shooting Sports Foundation)
- 3rd Most Gun-Friendly State (Source: Ammo.com)
- 3rd Largest Exporter of Firearms and Ammunitions in the U.S. (Source: Global Trade Atlas, 2023)
- 8 pro-gun bills passed into law during the 2023 legislative session
- $2.3B in economic output
INFRASTRUCTURE
- Three U.S. interstates connecting east and west coasts, and the Canada and Mexico borders
- 16,418 miles of state and U.S. Highways – 12th largest system in the U.S.
- Eight intermodal freight facilities with four riverports
- 2,542 miles of Class 1 rail systems
- #3 in the nation with 1,000 miles of inland, navigable waterways
- Approximately 100 public airports including Clinton National, Northwest Arkansas National, and close proximity to Memphis International and the Fed-Ex hub
Well-trained workforce
- 7th highest percentage of manufacturing employment (Source: Business Facilities)
- 1.36M skilled and trained workforce
- 12% of Arkansas’ workforce is employed in manufacturing
- 8,400+ people employed in the arms and ammunitions industry.
Business Climate in Arkansas
- #3 Least Expensive State for Starting a Small Business (Source: SimplifyLLC)
- #2 on the Cost of Living Index (Source: C2ER)
- 7th highest percentage of manufacturing employment (Source: Business Facilities)
EDUCATION
- 50 colleges, universities & 2-year colleges throughout Arkansas
- 2,100+ engineering degrees awarded each year
- 150k+ students enrolled at an Arkansas institution of higher learning
- Black River Technical College is 1 of only 11 accredited gunsmithing programs in the US – and the only institution connected to a law enforcement training academy.
- Ozarka College's Precision Machining program prepares students for a career in manufacturing, providing them with skills in manual machining and operation of CNC mills and lathes.
Firearms & Ammunition Industry
Executive Overview
Arkansas is Primed for Success
Home to the duck hunting capital of the world and the 3rd most gun-friendly state, Arkansas is the natural choice for firearms and ammunition companies to find success.
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FinTech Startup BOND.AI Moves to Little Rock, Arkansas
October 26, 2017BOND.AI, a financial growth platform that uses conversational artificial intelligence to help individuals meet financial goals and provides banks with AI infrastructure, recently announced it would be relocating its headquarters from New York City to Little Rock, Arkansas. The move should come as no surprise to those in the financial services sector, as Little Rock has become known in recent years as the birthplace of financial technology (FinTech). The city is also home to some of the biggest players in the FinTech sector, including companies like Acxiom, ABC Financial and FIS.
Little Rock is also home to some of the nation’s most innovative incubator/accelerator programs. The Venture Center, located in downtown Little Rock, is one such organization helping FinTech firms, like BOND.AI, achieve success through mentorship, intensive programming and introductions to the investor community. The Venture Center’s program, VC FinTech Accelerator — Empowered by FIS — has developed an extensive network of people, programs and resources to help early-stage companies refine their business models, create a market-ready product and connect to potential customers and investors.
BOND.AI is a graduate of The Venture Center’s 2017 VC FinTech Accelerator program. The company was one of 10 chosen from 295 applicants for the second year of the innovative 12-week program. After completing the program, the company decided to move its headquarters to Arkansas. BOND.AI’s CEO Uday Akkaraju and his wife, Madhavi Kulkarni, who is BOND.AI’s chief product officer, found a wealth of resources, talent and support in Little Rock.
“Capital, talent and a cost-effective environment. A young company needs all these three things to grow rapidly,” Akkaraju said in a news release. “You either get one or two of those things in cities like San Francisco and New York. I believe Little Rock is the only city in the U.S. that provides all three in perfect proportions. It truly is an unexplored goldmine for startups.”
The relocation brings the total number of companies that have moved their headquarters to Arkansas after completing the accelerator to four. BOND.AI is currently discussing proposals with 10 banks nationally and plans to expand its platform to more than 200 banks globally within the next few years. The company is also hiring to fill a few key staff positions.
At AEDC, we know economic advancement doesn’t happen by accident. We work strategically with businesses and communities to create strong economic opportunities, making Arkansas the natural choice for success. Here are some examples of businesses that are thriving!
Arkansas offers a range of competitive incentives for businesses looking to open, expand or relocate.
