Study Shows Potential of Arkansas Wine Industry
The grape and wine industry claims a $173 million economic impact in Arkansas, according to a new study from Frank, Rimerman & Co.
Using 2010 financial data, the California-based accounting firm determined that the industry generated $130.991 million in revenue and $42.196 million in wages during a 12-month period.
And according to Ken Warden, chief business and community outreach officer for Arkansas Tech University-Ozark (ATU-Ozark), the state’s industry has plenty of room for growth. ATU-Ozark commissioned the study through an Arkansas Agriculture Department specialty crop block grant.
“We think this goes a long way in promoting the industry,” Warden said. “I think our bordering states – Oklahoma, Missouri, Texas – have blossomed in the last 10 years. We haven’t seen the same growth as our neighboring states, but I think it (the grape and wine industry) is a presence with a lot of room to grow. Several years ago, Oklahoma had just a few wineries. Now they’re at 45 to 50. Arkansas has had some slow growth to state it mildly, so the potential for grapes and wine is tremendous.” Click here to read the full story from our partners at TheCityWire.com.