Transcript Prepared for With the Support of: Dr. Michael Hargis Dean of the College of Business.

Prepared for
With the Support of:
Dr. Michael Hargis
Dean of the College of Business
2014 Economic Report
Prepared by:
Roger Lewis, PhD Report Author
Pat Cantrell, PhD Report Coordinator
Stacey Spinks, MBA Graduate Assistant
National Economic
Gross Domestic Product
3.6%
3.1%
3.0%
2.7%
2.8%
2.4%
1.9%
1.9%
1.8%
0.0%
2004
2005
2006
2007
2008
2009
-2.6%
2010
2011
2012
2013
2014
DOW Jones
Industrial Average Year-End Closings
20,000
17,823
18,000
16,577
16,000
14,000
13,265
12,000
13,104
12,463
10,783
10,000
11,578
10,718
12,218
10,285
8,776
8,000
2004
2005
2006
2007
2008 2009
2010
2011
2012
2013
2014
National Unemployment Rate
9.3%
9.7%
9.0%
8.1%
7.4%
5.5%
2004
6.2%
5.8%
5.1%
2005
4.6%
4.6%
2006
2007
2008
2009
2010
2011
2012
2013
2014
Average Annual Unemployment Rate
9.5
8.5
7.5
6.4
6.2
5.8 5.9
6.5
5.5
4.5
3.5
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
National
Arkansas
Faulkner Co.
Conway
2014 Monthly Unemployment
8.50
8.00
7.50
7.00
6.50
6.00
5.6
5.4
5.1
4.9
5.50
5.00
4.50
4.00
U.S.
Arkansas
Faulkner County
Conway
National Consumer Price Index
3.8%
3.4%
2.7%
3.2%
3.2%
2.8%
2.1%
1.6%
1.2%
0.8%
-0.4%
Consumer Price Index
Percentage Change Per Select Category, Seasonally Adjusted
Category
2013
2014
Apparel
0.6
-2.0
Education & Communications
1.6
0.4
Energy
0.5
-10.6
Food & Beverage
1.1
2.0
Housing
Medical Care
2.2
2.0
2.5
3.0
Other Goods & Services
1.8
1.6
Recreation
0.4
0.0
Transportation
0.5
-6.2
All Items
1.2
0.8
Cost of Living Comparison
Cities
Composite
Equivalent to
$50,000
Salary in
Conway
Conway
Fayetteville, AR
Hot Springs, AR
Jonesboro, AR
LR-NLR, AR
Memphis, TN
New York (Manhattan), NY
San Jose, CA
Seattle, WA
91.9
90.3
93.2
87.2
98.4
85.8
$50,000
49,129
50,707
47,334
53,536
46,404
218.2
119,368
148.5
80,794
124.0
67,465
St. Louis, MO
94.1
51,305
Washington-Arlington, VA
139.3
79,060
100
$54,407
National Average
Family Units Constructed
Single Family
Duplex
Multi-Family
1010
846
668
689
24
488
168
27
407
2005
44
90
314
2006
28
52
192
2007
58
259
2008
2009
223
12
2
153
2010
112
16
186
2011
92
12
147
2012
2013
78
16
119
2014
Value of All Building Permits
In Million Dollars
Residential
$141
$146
Commercial
$151
$140
$130
$115
65.4
58.9
$110
75.7
94.1
59.5
76.6
80.7
82.1
74.9
36.2
2008
2009
2010
2011
51.1
38.6
2012
105.1
35.2
2013
2014
Population of Conway
and Faulkner County
Conway
Faulkner County
140,000
122,426
120,000
100,000
80,000
63,016
60,000
40,000
20,000
0
1950
1960
1970
1980
1990 2000 2005
2010
2014
Faulkner County Births and Deaths
Year
Births
Deaths
Net Gain
2013
1536
887
649
2012
1544
800
744
2011
1444
800
644
2010
1532
811
734
2009
1538
756
782
2008
1511
746
765
2007
1481
737
744
2006
1,530
726
804
2005
1,398
717
681
2004
1365
684
681
Violent Crime
Per 1,000 in cities whose population is 50,000+
Murder, Rape, Robbery, & Assault
2010
2013
14.1
9.4
7.7
4.2 3.7
Conway
4.1
4.4
9.4 9.4
6.9
4.4 4.4
Fayetteville Fort Smith Jonesboro Little Rock
3.5 3.5
N. Little
Rock
Rogers
Property Crime
Per 1,000 in cities whose population is 50,000+
Burglary, Larceny, Vehicle Theft
2010
2013
76.7
59.3
42.4 43.3
78.7
84.6
59.7
55.9 52.6
43.1 42.1
34.7
27.2 28.6
Conway
Fayetteville Fort Smith Jonesboro Little Rock
N. Little
Rock
Rogers
Conway Corporation
(In Millions of Dollars)
Residential
Electric
Meters
% Increase
Population
Estimate
Year
Revenue
Capital
Expenditures
2015*
111.9
21.0
26,892
0.7
63,465
2014
111.0
19.6
26,701
1.0
63,014
2013
107.1
12.6
26426
1.2
62,365
2010
95.1
10.3
25,237
3.0
58,908
*2015 Figures Estimated
Sales Tax Receipts
Faulkner County ½% Sales Tax Receipts
Year
Amount
Change Over
Previous Year
2014
$8,272,423
$178,154
2013
$8,094,270
-$371,317
2012
$8,465,586
$654,215
Conway 1% Sales Tax
Year
Amount
Change Over
Previous Year
2014
$12,915,263
$104,018
2013
$12,811,245
$890
2012
$12,810,355
$501,714
Faulkner County
Estimated Retail Sales for 2014
City
Amount
% of Total
Conway
$1,408,497,323
76.3%
Greenbrier
93,714,421
5.1%
Mayflower
46,322,263
2.5%
Vilonia
52,641,305
2.8%
Guy
3,395,211
0.2%
Damascus
12,515,895
0.7%
Non-Tax Areas*
230,094,424
12.5%
Total
$1,847,180,842
100.0%
Conway Hotel Sales
Sales in Millions of Dollars
19.3
19.5
19
18.6
18.7
18.6
2011
2012
2013
18.5
18
17.5
17.4
17
16.5
16
2010
2014
Top 5 Conway Hotels by
2014 Annual Sales
Hotel
Total Sales
Hilton Garden Inn
$2,581,390
Holiday Inn Express
1,884,761
Fairfield Inn
1,741,328
Hampton Inn
1,497,548
LaQuinta Inn
1,267,347
Total
$8,972,374
* Based on Advertising and Promotion Tax
Conway Restaurant Sales
Sales in Millions of Dollars
200
180
160
140
120
100
80
60
40
20
0
176.3
131.4
2010
144.7
2011
153.4
156.7
2012
2013
2014
Top 10 Restaurants by
2014 Annual Sales
Restaurant
Chick-Fil-A
Chili’s Bar & Grill #1067
Cracker Barrel
Golden Corral
TGI Friday’s
McDonald’s #29917 Salem Rd.
McDonald’s #32901 Dave Ward Dr.
McDonald’s #2872 Oak St.
McDonald’s #10667 Hwy 65 N
Marketplace Grill
Total
Total Sales
$4,419,805
4,043,730
3,865,830
3,714,666
3,408,720
3,270,456
3,141,075
2,789,307
2,789,307
2,604,547
$34,056,245
19.3% of Total Sales
Bank Deposits
(Billions of Dollars)
Billions
Total Deposits
$1.74
$1.64
$1.65
2011
2012
$1.60
$1.58
$1.46
$1.37
2008
2009
2010
2013
2014
There are
fifteen banking
institutions in
Faulkner
County
with 58 offices.
Bank Market Share
Faulkner County
Bank Deposits
Centennial
Bank
31.5%
First Security
Bank
29.80%
The top
three
banking
institutions
hold 71% of
the market
share.
Regions Bank
8.90%
All Others
29.80%
Bank Return on Assets and Equity
Bank
Return on ssets
Return on Equity
Fort Sill NB
2.12
19.74
First Security Bank
2.22
16.96
Bank of the Ozarks
2.05
14.70
U S Bank
1.46
13.67
Centennial Bank
1.70
12.71
First Arkansas Bank
2.06
11.02
Delta Trust
1.02
10.53
First Service Bank
1.04
8.33
Regions Bank
1.13
8.23
Eagle Bank & Trust
0.86
8.22
Simmons First NB
0.79
7.74
Arvest Bank
0.83
7.53
Bank of America
.085
6.85
Home Bank of Ark
0.24
2.58
River Town Bank
-0.03
1.77
Faulkner County
Motorized Vehicle Registrations
109
(in thousands of vehicles)
89
91
93
2010
2011
2012
97
76
65
51
39
1990
1995
2000
2005
2013
2014
Arkansas Severance Tax Revenue
In Millions of Dollars
100
$89
90
80
70
$54
60
50
$41
40
$27
30
20
10
0
$63
$59
$1
Municipal Highway
Severance Tax Distribution
Faulkner County
2014: $296,411
2013: $224,455
32.1% Increase
The City of Conway
2014: $363,837
2013: $276,523
31.6% Increase
Fayetteville Shale
2014 Well Production
County
Number of Wells
577Vantotal
have
Buren wells
1586
produced
a total
of
White
1281
Conway
1141
5,538,172,105
Cleburne
993 Feet
Thousand
Cubic
Faulkner
399
of Natural Gas
Arkansas Scholarship
Lottery Sales
Sales in Millions of Dollars
500
480
460
474.9
459.9
452.2
440
432.9
420
401.3
400
380
360
2010
2011
2012
2013
2014
Total since 2010: $2,221,225,338
2014 Lottery Sales for
Faulkner County Municipalities
City
Total
Average Monthly
Conway
$9,771,692
$814,308
Greenbrier
1,924,937
160,411
Mayflower
1,791,933
149,333
Vilonia
567,029
47,252
Wooster
137,620
11,468
Total
$14,193,211
$236,554
Employment & Earnings
Faulkner County 2014
Type
Total # of
Employers
Total # of
Employees
Average Annual
Wages
Government
56
6,841
$36,487
Private
2,753
33,366
$37,159
Total
2,809
40,207
$37,044
Agricultural Production
Crop
Income from Production Sold
% Change 2013-2014
Beef
Greenhouses
Rice
Soybeans
Wheat
Dairy
Hay
Corn
Forestry
Fruits & Vegetables
Hogs
Silage
$10,000,000
5,000,000
2,325,757
2,300,550
1,235,000
960,000
800,000
478,000
600,000
500,000
72,000
0
77.78%
0.0
14.4
55.4
-29.3
0.0
-4.8
-39.0
0.0
0.0
0.0
0.0
Total
$24,271,307
23.6%
The Effects of Tourism
on Faulkner County
Category
2013 Statistics
% Change
Visitors Trips
347,876
-0.65
Total Travel Expenditures
$82,144,009
0.88
Expenditure per Visitor
$236.13
1.54
State Tax receipts
$5,031,742
0.74
Local Tax Receipts
$1,378,042
0.7
Number employed
936
-1.58
Payroll
$15,307,529
0.8
Average Annual Pay
$16,354
2.42
Questions?
Thank you!