Economic Development of Arkansas University of 阿肯色州大学的经济发展.pptxVIP

Economic Development of Arkansas Overview of economic development of regions of the state throughout Arkansas’ history Need and Potential for Economic Development 1. Arkansas is relatively poor Ranks 45th of 50 states Per capita income in 2009 was $31,949; U.S. was $39,138 B Bessie B. Moore Center for Economic Education 2 Need and Potential for Economic Development 2. Historical reasons for low income New state when civil war devastated production State bank failures that destroyed the state’s credit Indian territory to the west Reputation of backwoods culture B Bessie B. Moore Center for Economic Education 3 Need and Potential for Economic Development 3. Arkansas has great potential for  development but must enhance factors  of development Development of human capital Infrastructure development Capital formation Entrepreneurship B Bessie B. Moore Center for Economic Education 4 European Exploration B Bessie B. Moore Center for Economic Education 5 Hunting and Farming by Native Americans In 1541 rather than gold Hernando de Soto found Native Americans. Indians survived by gathering berries, hunting and farming corn, squash, and beans. Systems of rivers and trails connected the towns to each other enabling trade. French Trading of Furs Arkansas Post was first European establishment in Arkansas primarily for fur trading. The French explorer Henri de Tonti, established Arkansas Post at juncture of the Arkansas and Mississippi rivers. French goods (knives, hammers) were exchanged for beaver furs. Rivers were used for transportation of traded items. Agriculture B Bessie B. Moore Center for Economic Education 8 Cotton Plantations Early 1800s cotton production led the settlement of the territory ---mostly along the Mississippi River. The river was used to transport goods into and out of the plantations. Cotton dominated Arkansas agriculture until the mid twentieth century. Cotton remains a strong cash crop for Arkansas - 2.1 million bales Shar