Agri an important part of Northwest Arkansas

Northwest Arkansas is widely known as the home to three Fortune 500 companies and the University of Arkansas. These companies drive a large portion of the region’s economy and greatly influence Northwest Arkansas’ brand to the outside world while contributing heavily to the state’s population growth.

Another place where Northwest Arkansas is leading the state that doesn’t get much attention is in beef cattle production. It might be surprising to readers that Washington and Benton counties are ranked first and second respectively among Arkansas’ 75 counties in the market value of cattle sold, accounting for 10.8% of the state’s total.

Widening those borders to include Franklin, Crawford, Madison and Sebastian counties, the NWA region accounts for 23.5% of the state’s total cattle sales. This is according to the U.S. Department of Agriculture’s most recent Ag Census, conducted in 2022.

The same Ag Census data also ranks Benton, Washington and Madison counties as the first, second and fifth largest producing counties in the state for poultry and eggs, while also ranking the state as the third largest poultry and egg producer in the nation.

As a full-time banker specializing in agriculture lending and a part-time cattle producer myself, it is important to me that the business community in Northwest Arkansas understands the important role ag producers play in the overall regional economy. It is critical that ag producers have access to banking services that, in turn, propel our country forward.

Ag producers generate significant revenue through their products, which then support many additional local businesses. From feed stores and veterinary services to equipment suppliers and transportation firms, a wide range of business enterprises benefit directly from a thriving agricultural industry.

Moreover, the economic ripple effect of ag operations extends to other sectors. The income generated by family farms is often spent within our community, supporting retail businesses, restaurants, and service providers. This circulation of money helps to sustain local jobs and promotes economic stability.

I believe it is very important that, as Northwest Arkansas continues to grow, our local leaders in government, planning and development recognize that we will need to balance the growth, development and expansion of our cities with the important economic engine of our local ag community.

The Ag Census data highlights the need for this balance as it shows the number of ag operations and total acres dedicated to ag production are both falling. From 2017 to 2022, the number of farms and ranches fell 7% in Benton County, 8% in Washington County and 18% in Madison County. Total acres dedicated to ag operations fell 5% in Washington County, 11% in Benton County and 15% in Madison County.

The region will need more homes and apartments in the future to accommodate the influx of workers – the vast majority of whom will be working in non-farm jobs. But in meeting that need, our regional and governmental planners need to be mindful of the critical importance of family farms and ranches to a balanced, sustainable and well-fed regional economy. Working together, we can, and must, find a way to achieve both.

Personally, I have a deep appreciation for the agriculture industry and the economic engine it provides our region. As a producer myself, I value the opportunity to contribute to this vital part of our great region.

Editor’s note: Levi Price is general manager-food value chain at Arvest Bank. The opinions expressed are those of the author.