River Valley Enjoys Cheap Cost of Living

Fort Smith’s metropolitan statistical area rated No. 12 out of the 324 urban areas that participated in the ACCRA Cost of Living Index, indicating it’s one of the least expensive places to do business in America. That’s not the measure it was 10 years ago said Tom Manskey, president of the Fort Smith Chamber of Commerce, but it’s still good news.

Manskey said the ranking, which was announced in mid-November, can be a recruiting tool for certain types of companies. The catch is not being perceived as “too cheap.”

“We’re excited to show from the ACCRA report that you can stretch your dollar farther here,” Manskey said. “But by the same token, a lot of companies are looking for quality and there are communities out there that are expensive that are still growing. We’re excited, but we’re also committed to continue improving.”

The ACCRA index, compiled by the association of community and economic development research professionals, is based on six components: housing, utilities, grocery items, transportation, health care and miscellaneous goods and services.

It came on the heels of a Milken Institute report that ranked the Fort Smith MSA among the top 200 performing metro areas America.