Arkansas Could See Economic Boost with Increase in STEM Graduates, New Study Says
ARKANSAS, USA — A recent study by Bentonville-based think tank Heartland Forward, in collaboration with the University of Arkansas, projects that Arkansas’ economy could experience an increase of nearly $4 billion by 2038 if the state successfully doubles the number of graduates with STEM (Science, Technology, Engineering, and Mathematics) degrees. The report highlights the critical role STEM education plays in driving economic performance.
Heartland Forward President and CEO Ross DeVol emphasized the urgency of addressing Arkansas’s shortage of STEM graduates, noting nearly 58,000 unfilled positions expected by 2028. “This shortage poses a significant challenge to the state’s competitiveness in the evolving knowledge-based economy,” DeVol stated.
The findings reveal significant economic growth in Arkansas, with gross domestic product (GDP) per worker rising from $86,452 in 2012 to $111,603 in 2021. Remarkably, more than a quarter of this growth is linked to advancements made by the state’s engineering colleges, particularly in disciplines like research, computer, and data science.
The study serves as a clarion call to bolster STEM education in Arkansas to ensure a robust workforce capable of meeting future demands. As the state faces a pivotal moment, stakeholders are encouraged to prioritize educational initiatives that could not only fill existing workforce gaps but also drive substantial economic growth in the coming years.
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