2012-11 faulkner county business journal

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NOVEMBER 2012 TO FITNESS AND FUN HENDRIX WELLNESS AND ATHLETICS CENTER OFFERS COMMUNITY MEMBERSHIPS, BIRTHDAY PARTIES & MORE FULL STORY, PAGE4

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November 2012 Faulkner County Business Journal – Hendrix Wellness and Athletics Center offers community memberships, birthday parties and more

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Page 1: 2012-11 Faulkner County Business Journal

NOVEMBER 2012

TO FITNESS AND FUN

Hendrix Wellness and atHletics center offers community membersHips,

birtHday parties & more

full story, paGe4

Page 2: 2012-11 Faulkner County Business Journal

2 | FAULKNER COUNTY BUSINESS JOURNAL

New eveNt RecogNizes womeN iN BusiNess

The Conway Area Cham-ber of Commerce has created a new business event to celebrate the

successes of women leaders in central Arkansas.

The Women in Business Awards honor individuals in the Conway area who have excelled in leadership and community service and who have inspired others on both a personal and professional level. The inaugural awards luncheon will begin at 11:30 a.m. on Tuesday, Dec. 4, and will take place in the Student Center Ballroom on the University of Central Arkansas campus.

At the Women in Business event, five individuals will receive the “Outstanding Woman in Business Award.” The honor-ees embody high standards of excel-lence, dedication and accomplishment to their respective organizations, indus-tries and to the business community. Of the five recipients, one will receive the prestigious “Diamond Achievement Award.” This award recognizes an individual who has inspired and empow-ered many generations of women and who has had a positive impact on those in her profession and in the community.

The award recipients are as follows:

Brandy Strain-dayer, Strain PhotograPhy

For Brandy Strain-Dayer, creating a fun experience for clients is her focus.

She and her sister, Jackie, are second-generation profes-sional photog-raphers at Strain Photogra-phy — an award-winning studio

their parents founded 43 years ago. “I aim to treat every person who walks in the door of the studio as a friend, not

just a customer,” she said. “I truly love what I do.”

As is the case with many small, family-owned enterprises, Strain-Dayer is involved with all aspects of Strain Photography. “I began photographing 20 years ago and also do Web design, marketing, you name it. In a small, fam-ily business, if we don’t do it, it won’t get done.”

Strain-Dayer views her success in business through the lens of teamwork. “I could not do anything without my family; we work together as a team,” she said. “I believe this nomination is a reflection on us as a whole — not on me as a person.”

Brandy Strain-Dayer has served on the board of directors for Bethlehem House, HAVEN, Friends of the Faulkner County Animal Shelter, Alzheimer’s Ar-kansas Conway Walk, and Professional Photographers of the Ozarks.

toBy hart, take the Lead academy inc.

From horseshoes to dancing shoes, Toby Hart — or Miss Toby — has turned

her pas-sions into her liveli-hood. Hart founded Take the Lead Academy Inc. where she has taught dance and horseback riding les-

sons to students for 35 years.“My work is my hobby, and my hobby

is my work,” she said. “I have traveled across the U.S. and Canada and never have met anyone who teaches dance and horseback riding for a living. I have loved doing what I do, and I didn’t have a mentor to learn the business from.”

While Hart did not have a mentor in her chosen field, she said her late mother was her role model. Pete Hart owned CENTURY 21 Dunaway & Hart. “I wish my mom could have been alive to receive this award. She was a real maverick for women in business.”

In addition to teaching at Miss Toby’s Dance Ranch, Hart takes her talents into the community. She has led and closed the Faulkner County Fair Parade on horseback for a number of years. She also has taught line dancing at conventions, judged dance and cheer-leading competitions, and competed in rodeos. “My business is a never-ending pursuit to educate and enlighten,” Hart said. “My personal life is the same.”

Sonja keith, 501 LiFe (advertiSing and PuBLiShing)

Most people living or working in Con-way and the central Arkansas area have

thumbed through an issue of 501 LIFE. Sonja Keith and Donna Spears estab-lished 501 LIFE Advertis-ing and

Publishing in February 2008, which publishes the general-interest maga-zine.

Keith said starting the company was one of two major risks she has taken in her life. “I was fortunate to have a good friend, Donna, who shared my dream and desire to create a publication that would be positive and inspirational as well as informative and entertaining,” she said. “Fear could have gotten the better of us, but instead, we believed in our dream. We have been strength-ened by others who have offered their encouragement and support.”

Keith and 501 LIFE have been involved in the community in a number of ways. The publication launched the “Step Up to the Plate” hunger campaign that encourages schoolchildren and others to raise money in support of a hunger relief agency. The campaign also collects canned goods for Bethle-hem House, a local transitional shelter that assists homeless individuals and families.

Keith has served as chairwoman of the Faulkner County Leadership Institute and Youth Leadership Institute and the Toad Suck Daze committee. She is a charter board member of the Women’s Shelter of Central Arkansas and the Boys and Girls Club of Faulkner County. Keith also has served on boards for HAVEN and United Way and is a member of the Bethlehem House’s “Home for the Homeless” campaign committee, the Conway Regional Wom-en’s Council and the Conway Regional Community Advisory Board.

Linda Linn, Linn’S auto & equiPment SaLeS inc.

Since 1965, Linn’s Auto & Equipment Sales Inc. has sold quality, repairable

or repos-sessed vehicles to con-sumers throughout the U.S. Linda Linn co-owns the business with her husband, Danny.

The Linns also own Just Scrap It Metal Recycling, Oak Street Auto Sales and U-Pull-It of Conway.

Linn has served or is currently serv-ing on a number of boards and commit-tees in Conway. She was chairwoman for the United Way Campaign, the Conway Area Chamber of Commerce’s board of directors and Conway Chris-tian School’s Foundation Board. She was a founding board member for the Women’s Foundation of Arkansas and served on its board for six years. Linn is also a member of the Conway Commit-tee of 100; the UCA Business Advisory Committee; the Bookcase for Every Child committee; and fundraising com-mittees for Bethlehem House, the Boys and Girls Club of Faulkner County, and the Arkansans for Jobs and Affordable Energy committee.

“Danny and I always have felt like we needed to give back to the community

Page 3: 2012-11 Faulkner County Business Journal

because it has always been so good to us,” she said. “Our family, our church, our business and our community are our lives and somehow that balance works out.”

hoLLy marr, acxiom corPoration (retired)

Holly Marr worked for Acxiom Cor-poration for 26 years, working her way up to vice president/industry executive for the global technology and marketing company.

“It was fortuitous for me to have been a part of Acxiom during its high-growth years, and thus I was afforded leader-ship opportunities early on in my ca-

reer,” Marr said. “I am humbled former Acxiom col-leagues nominated me for this recogni-tion.”

Al-though she is

now retired, Marr’s volunteer work keeps her busy. For more than 10 years, she has helped lead a volunteer-

based charitable fundraiser to fund Camp Hope – the American Cancer Society’s annual summer camp for kids with cancer. To date, Marr and the other volunteers have raised more than $216,000 for the camp, and they have received local, regional and national awards for their efforts. Marr is also beginning her second, three-year term on the board of directors for Arkansas Children’s Hospital, where she serves on several committees.

“I learned to be opportunistic with my schedule,” Marr said. “Although every job I held at Acxiom was demanding, the company was always great about allowing flexible work schedules. I also

learned to micromanage my calendar because I know that how you spend your time reflects your priorities.”

About Women in BusinessBrad Lacy, president and CEO of the

Conway Area Chamber of Commerce, said although a large number of Cham-ber members are women-owned en-terprises, there has not been an event focused exclusively on the achieve-ments of local businesswomen.

“The Chamber is happy to fill that void,” he said. “We have assembled a strong and diverse committee to help ensure this event is successful. Con-gratulations to all the honorees.”

FAULKNER COUNTY BUSINESS JOURNAL | 3

Days Lake

Fork LakeBeaver

Gentry Lake Robins Lake

Carol-danLake

Laurel Park

Mountain View Park

Airport Park

Gatlin Park

Fifth Avenue Park

CollegeHendrix

Central ArkansasUniversity Of

Baptist CollegeCentral

Cantrell FieldDennis F

ClubValley GolfCentennial

Cadron Valley Country Club

ClubCountryConway

Oak Grove Cemetery

Tyle

r St

Oak St

Skyline Dr

E Oak St

S Sa

lem

Rd

Caldwell St

S Harkrider S

Oak St

Don

aghe

y Av

eD

onag

hey

AveMeadowlake Rd

Highway 60 W

Sale

m R

d

Harkrider St

Beaverfork Rd

Prince St

Old Morrilton Hwy

Dave Ward Dr

E Oak St60

60

266

319

286

25

60

60

60

60

286

286

286

65

64

64

65

65

65

65

64

64

64

65

40

40

40

Gleason

Conway

140 Castleberry

4935 Westin Park

4435 Bay Hill Drive

23 Christina Way

4215 Tree House

TOP 5 RESIDENTIAL hOmE SALES

PRICE ADDRESS CITY BED/BA/HB SUBDIVISION SQ. FT. $/SQ. FT. YEAR BUILT$435,000 4435 Bay Hill Drive Conway 5/3/1 Centennial Valley 5,074 $88.67 2003$375,000 4215 Tree House Conway 4/4/0 Sunderlin Park 3,674 $106.12 2005$335,000 4935 Westin Park Conway 5/3/1 Westin Park 3,375 $102.22 2006$310,000 23 Christina Way Conway 5/3/2 Christina Valley 3,311 $95.14 2003$285,000 140 Castleberry Conway 4/3/0 Chapel Creek 2,460 $115.85 2012

Page 4: 2012-11 Faulkner County Business Journal

4 | FAULKNER COUNTY BUSINESS JOURNAL

Conway residents can rise and shine with an indoor pool or weight room workout at the Wellness and Athletics Center (WAC) at Hendrix College.

Formally dedicated in 2007, the WAC is the reason that Princeton Review ranked Hendrix 13th “best athletics facilities” in the country (among all 2,500 four-year colleges, regardless of NCAA division) in 2009.

The 100,000-square-foot facility not only serves as the gateway to intramural sports and intercollegiate athletics at Hendrix, it’s a great resource for the Conway community, offering modern equipment in a friendly, uncrowded environment to help you meet your health and fitness goals.

The Wellness and Athletics Center offers memberships to community members with no joining fee and no annual contract.

the aquatics center & Bob courtway Pool

The Aquatics Center and Bob Courtway Pool features an eight-lane, 25-meter competition pool, as well as two one-meter and two three-meter diving boards. The pool utilizes a high-tech rim flow system that decreases wave activity and creates a faster swim environment.

The pool also features a retractable roof that allows fresh air to circulate throughout the pool area.

The Aquatics Center is available for birthday parties and other group rentals and also serves as the home for the Aquakids Swim Club, a Conway-based competitive

club for grade school and high school children.

In addition, the Aquatics Center offers a Masters Adult Swim Program, offering seven classes a week tailored to specific individual needs. For more information, contact Alyson at 501-505-2905 or [email protected].

Fitness facilitiesThe WAC’s 7,000-square-

foot fitness center includes a cardiovascular area with treadmills, elliptical trainers, upright bikes, recumbent bikes, rowing machines and a step mill. The fitness center is also home to a complete line of selectorized strength training

equipment and free weights. On the second floor, there is

a three-lane indoor track and a movement studio, which hosts a variety of group exercise classes including kickboxing, yoga, pilates, PiYo, Zumba, indoor cycling and power pump.

For more information on community memberships, call

501-505-2966 or email [email protected].

The WAC also offers personal training and small group training led by certified professional fitness trainers. For more information on personal training, contact Gail Lackland at 505-2975 or [email protected].

Birthday party rentalsThe pool and the WAC’s rock

climbing wall (46-foot base, 26-foot tall) can be reserved for children’s birthday parties. The pool has a shallow four-foot section and a deep section that has low and high diving boards. Parties at the rock wall allow kids the chance to climb the wall and play in the spacious recreation gym. Parties are completely private and are staffed by exceptional kid-friendly lifeguards and climbing wall attendants.

Pool parties are available on Friday evenings at 7 p.m. or Saturdays after 2 p.m. Rock wall and recreation gym parties begin at 4 p.m. on Saturdays. For birthday party information, contact Trace Grinnell at [email protected] or 501-505-1584. The schedule fills up quickly so book your party as early as possible.

DIVE IN FOR FITNESS AND FUNcoveR stoRY

HENDRIX WELLNESS AND ATHLETICS CENTER OFFERS COMMUNITY MEMBERSHIPS, BIRTHDAY PARTIES AND MORE

Page 5: 2012-11 Faulkner County Business Journal
Page 6: 2012-11 Faulkner County Business Journal

Conway manufacturer Snap-on Tools has accomplished something few manufacturing companies have achieved — it has not experienced a lost-time accident for more than four years. Communication and teamwork are the hallmarks of Snap-on’s success in creating a safe work environment.

“Everyone is responsible for safety, and everyone here knows that — from the forklift drivers to the line personnel to the managers and supervisors,” said Scott Champlin, human re-sources and customer service manager.

Upon hire, new employees attend an hourlong safety orientation. “We introduce new employees to the sounds of our alarm systems and tell them they should report any unsafe conditions to management im-mediately,” Champlin said.

Each of Snap-on’s 180 employees participates in small

group communication meet-ings once a month. Champlin, operations manager Randy Spencer and safety manager Bruce Bailey lead the meetings and encourage associates to ask questions or recommend ways to make the workplace safer.

“Scott and I both have an open-door policy and want em-

ployees to feel free to talk to us about any potentially hazard-ous conditions,” Spencer said. “We reinforce the idea that if they think they can get hurt while doing something, don’t do it.”

Champlin said unsafe condi-tions could range from poor lighting in the plant to exhaust fumes in the shipping area.

“No issue is too small for us to address when it comes to safety,” Champlin said. “We want our people to leave here the same way they came to work. Safety is our No. 1 goal.”

While each employee shares in the significance of reaching more than 1,500 days without a lost-time accident, Cham-plin and Spencer recognized two team members who were instrumental in making that happen: Levita Moore and Bruce Bailey.

“Although Bruce is rela-tively new to his role as safety manager, he has contributed significantly to our safety proce-dures,” Spencer said. “We are fortunate to have him as part of our team.”

Levita Moore has taken a leadership role in implementing the “6S” program at Snap-on, which is the standard for quality control and workplace organization. The name of the

program stems from the first letters of these six words: sort, stabilize, shine, standardize, sustain and safety.

“Thanks to Levita, there is a place to store every piece of equipment or tool that is involved in doing a job,” Cham-plin said.

Snap-on associates were treated to a luncheon to cel-ebrate the 1,500-day milestone. Each employee received a gift, and managers unveiled a ban-ner celebrating the accomplish-ment. Although it is a significant achievement, Champlin said it does not mean they should become complacent.

“We are proud to reach this milestone, and we wanted to take a minute to pat ourselves on the back,” he said. “How-ever, we recognize that 1,500 days is not the goal. The goal is 2,500 days or 15,000 days. We want to keep going and keep being safe here at Snap-on.”

6 | FAULKNER COUNTY BUSINESS JOURNAL

randy Spencer, Levita moore and Scott champlin of Snap-on tools display a banner celebrating more than 1,000 days without a lost-time accident at the conway manufacturing facility.

coNwaY cvB to host statewide guest seRvice tRaiNiNg pRogRam

safetY No accideNt at sNap-oN tools

Tourism is a multi-billion dollar industry in The Natural State. More than 23 million visitors contributed $5.5 billion to the Arkansas economy in 2011. When it comes to tourism, first impres-sions can have a positive or negative effect on a visitor’s experience and, ultimately, Arkansas’ economy.

For this reason, the Conway Convention and Visitors Bureau is par-ticipating in a statewide program to ensure the Conway area continues to gain and retain busi-

ness from tourists.The Arkansas Depart-

ment of Parks and Tour-ism has established the “Welcome to Arkansas” program targeted to ev-ery person tourists may encounter during their visit to the state. As part of this program, “First Im-pressions” guest service training sessions will take place in cities throughout Arkansas.

The Conway CVB will host training sessions Nov. 27-28 from 2-4 p.m. at the Conway Area Chamber of Commerce. Rachel Earls, director of

destination marketing, said the program would help keep visitors coming back to the Conway com-munity.

“In order for our city and state to compete with surrounding states for tourism dollars, we need to be the best we can be,” Earls said. “These guest service training sessions can help instill in our frontline employees a sense of community and self-pride.”

The Welcome to Arkan-sas program was created in response to a survey

the Arkansas Department of Parks and Tourism conducted. Research showed that citizens and frontline employees knew little, or nothing, about attractions in their own area. When asked, “What is there to do?” the typi-cal response was, “There is nothing to do here.”

Businesses that would benefit from the training include those part of the hospitality industry, such as hotels, restaurants and tourist attractions. It also includes employ-ees and managers from convenience stores, gas

stations, hospitals, retail stores, local government, banks, resorts and others that have daily contact with visitors.

“When frontline em-ployees provide great customer service and are knowledgeable about their community, visi-tors want to come back,” Earls said. “A healthy tourism industry affects not only the businesses that receive tourism dol-lars, but the entire com-munity and state.”

Each session can be conducted in approxi-mately three hours and

covers the following topics: serving multiple customers at a time, giving good directions, phone etiquette, per-sonal appearance, body language, local and state attractions, addressing angry customers, and serving international customers.

To learn more about participating in the Welcome to Arkansas program, contact Rachel Earls at 501-327-7788 or [email protected]. The RSVP deadline is Monday, Nov. 26.

Page 7: 2012-11 Faulkner County Business Journal

FAULKNER COUNTY BUSINESS JOURNAL | 7

Information provided by pulseofconway.com

Conway Economyat a Glance

unemployment rateSeptember 2012

US ...............................7.8%Arkansas ......................7.1%Faulkner County ........ 6.9%Conway ........................5.9%*Faulkner County & Conway not Seasonally AdjustedSales tax collections

conway*august

2012................... $1,945,7052011................... $1,951,403Percent Change (-.29%)year to date (august)2012................. $15,146,3462011................. $14,466,454Percent Change 4.7%

annual*2011................. $22,366,4642010................. $21,868,102Percent Change 2.3%*Tax Rate 1.75%

Faulkner county*august

2012...................... $717,1412011...................... $718,608Percent Change (-.2%)year to date (august)2012................... $5,651,2822011................... $5,351,080Percent Change 5.6%

annual*2011................... $8,279,3012010................... $7,834,226Percent Change 5.7%*Tax Rate 0.5%

restaurant Sales*September

2012................. $12,904,9682011................. $12,490,968Percent Change 3.3%

year to date (Sept.) 2012............... $121,607,8212011............... $112,492,360Percent Change 8.1%

annual Sales 2011............... $151,462,7972010............... $139,864,203Percent Change 8.3%*Includes mixed drink sales

hotel SalesSeptember

2012................... $1,387,2102011................... $1,502,929Percent Change (-7.7%)

year to date (Sept.)2012................. $14,838,7272011................. $14,358,249Percent Change 3.3%

annual Sales2011................. $18,662,1362010 ............... $17,590,242Percent Change 6.1%

conway Building Permits

Single Family homesPermits issued

january — September2012.................. 147 permits2011.................. 119 permits2010..................203 PermitsPercent Change 2011-12 23.5%

annual2011..................153 Permits2010 ................ 223 PermitsPercent Change (-31.4%)average construction

cost*year to date (Sept.)

2012...................... $208,8882011..................... $204,8682010...................... $172,381Percent Change 2011-12 2.0%*Not including land or lot improvements

average Square Footage*

year to date (Sept.)2012............................ 3,0442011............................ 2,8872010............................ 2,626Percent Change 2011-12 5.4%* Total under roof

Lottery SalesFaulkner county

october2012................... $1,250,0542011................... $1,366,360Percent Change (-8.5%)

january — october2012................. $14,033,6862011................. $14,011,104Percent Change 2011-12 .16%

annual2011................. $16,788,6782010................. $17,540,450Percent Change (-4.3%)

total Stateoctober

2012................. $33,691,4992011................. $38,132,3832012................. $36,716,063Percent Change 2011-12 (-11.6%)January-October2012............... $379,085,8412011............... $399,667,7632010............... $384,652,799Percent Change 2011-12 (-5.1%)

annual2011 .............. $474,879,7012010............... $459,916,256Percent Change 3.3%

natural gasSeverance tax

distributionoctober

Faulkner county2012........................ $12,6512011.......................... 19,038Percent Change (-33.6%)

conway2012........................ $15,6352011........................ $23,666Percent Change (-33.9%)

year to date (jan.-october)

Faulkner county2012...................... $117,5842011...................... $167,639Percent Change (-29.8%)

conway2012...................... $145,3602011...................... $209,528Percent Change (-30.6%)

annualFaulkner county

2011...................... $204,0522010...................... $171,543Percent Change 19.0%

conway2011...................... $254,8222010...................... $221,225Percent Change (-15.2%)

Wellhead Price per mcF*

august2012 ........................... $2.862011 ........................... $4.202010 ........................... $4.382009............................ $3.372008............................ $8.272007..................... $6.215.76

yearly average2011 ......................... $3.95.2010 ......................... $4.48.2009 ......................... $3.672008.......................... $7.972007.......................... $6.252006 ......................... $6.392005 ......................... $7.332004 ......................... $5.462003 ......................... $4.882002 ......................... $2.95*MCF=1000 cubic feet

number of active Wells*

Faulkner County ............ 316Total in Field .............. 4,133*As of July 31, 2012

estimated Life timevalue of Production*

Total Field . $11,382,327,198*As of November 31, 2011.

higheR ed: ouR ecoNomic eNgiNeBy roger Lewis

In 1890 Conway was not yet 20 years old. Its population was only 1,290, but the community had leaders with vision. This vision, when realized, led to the three institutions of higher education and Conway’s moniker The City of Colleges. Bold actions over the next several decades defined this community forever as well as planting the seeds for economic development.

Hendrix College was estab-lished in Altus, Arkansas, in 1884 when three conferences of the Methodist Episcopal Church, South purchased the Central Col-legiate Institute that was founded in 1876. They named it Hendrix College in 1889 after the presid-ing bishop Rev. Eugene Russell Hendrix. In 1890 the board of trustees requested bids from cities in Arkansas to relocate the institution of five faculty members and 150 students. Conway’s offer won the bid. In 1928 the college was merged with Henderson-Brown (Arkadelphia) and planned to relocate. Again Conway’s lead-ership stepped up to the plate, pledged $250,000 ($150,000 cash and $100,000 in kind) to keep it here forever. The Conway Corporation was the outgrowth of that endeavor. Conway’s popula-tion in 1930 was 5,539.

At the annual meeting of the Arkansas Baptist State Conven-tion in 1891, a special committee was appointed to consider the founding of an educational institu-tion for women. Central College, a women’s college, was estab-lished in Conway. In 1928 Central College became in financial dis-tress and $50,000 along with that raised for Hendrix College was pledged to assist Central College. Finally it was closed in 1947. The campus lay dormant until 1952 when the Arkansas Missionary Baptist Association purchased the property for $85,000, and Conway Baptist College opened its doors in September 1952.

The Arkansas State Legislature in 1907 created the Arkansas State Normal School for train-ing teachers, now known as the University of Central Arkansas. Acting Governor X. O. Pindall ap-pointed the first board of trustees and requested bids from cities for a location. The cities submitting bids were Fort Smith, Benton, Quitman, Russellville, and Con-way. The City of Conway submit-ted the winning bid by offering the choice of three tracts of land

and $51,753 in cash, along with other inducements. Operations at Arkansas State Normal School began on Sept. 21, 1908.

As these three institutions of higher education grew, they became a major segment of our economy. Their economic impact has many aspects: direct expenditures by the institu-tions, expenditures by students, secondary expenditures as a result of the direct expenditures, related expenditures by visitors and intangible human resource benefits.

The combined annual payroll of the three institutions is approxi-mately $100 million. In addition, these institutions spend $20 mil-lion annually for local purchases of goods and services, for a total of $120 million per year in direct expenditures.

There are approximately 13,000 students enrolled in these institutions. Incidental personal and transportation expenditures, using cost of attendance financial aid guidelines, is approximately $3000 per student per academic year. This equates to $39 million. Approximately half of the students live off campus in various housing arrangements, including living at home with parents. Room and board for these students is estimated at $7,000 per year for a total of $46 million. Student expenditures for personal items, transportation, and room and board for those living off campus total to approximately $85 million per year. The total institutional and student expenditures are ap-proximately $205 million per year.

A well-established economic model predicts that every dollar spent on payroll, goods and services generates an additional dollar in indirect or secondary expenditures as this money turns over several times in the com-munity. Thus the $205 million in direct expenditures for 2012, has an economic impact of $410 mil-lion (the total direct expenditures of $205 million for goods and services times two).

In addition, these three institu-tions have expended over the last 10 years more than $200 million for capital improvements. This includes new buildings, land acquisition and general improve-ments.

Athletic, cultural, and student functions, conferences and business-related visits to these in-stitutions draw many out-of-town visitors. These visitors frequent restaurants, engage in retail trade

and often stay overnight. It has been estimated that more than 60,000 people per year come to Conway to visit these institutions. Using a conservative figure of $75 expenditure per person, the expenditure is $4.5 million. (The Arkansas Department of Parks and Tourism use $221 expen-diture per person per day when estimating tourism revenue).

Overall, it is estimated that the three institutions combined eco-nomic impact on Faulkner County is approximately $420 million per year.

All of the expenditures cited above are direct and indirect im-pact on the local economy. There are many intangible contribu-tions that cannot be measured or quantified. An educated workforce is one of the most important attributes that a community can have for economic development. Thirty six percent of Conway’s residents and 26.4% of Faulkner County’s residents 25 years or older hold a bachelors degree or higher compared to 19.1% for Arkansas and 27.9 % nationally. (Arkansas ranks next to last with West Virginia being 17.3%) This highly educated population in Faulkner County can be attributed to the fact that we have three col-leges. Many of the local residents have received degrees from these institutions.

The talent that resides in these institutions-students, alumni, faculty and staff- benefit Conway and Faulkner County in ways that cannot be measured monetarily. The higher education commu-nity in Faulkner County donates numerous hours of volunteer ser-vices, often serving in positions of leadership in non-profit agencies, schools, government entities and churches. The higher education community makes a formidable human resource contribution to Faulkner County.

The phenomenal growth that this community has had over the past 20 years, more than doubling in size from 26,000 in 1990 to 61,000 in 2012, lies in part because of its education institu-tions. Employers want educated employees and residents want good schools and education op-portunities.

These institutions not only de-fine Conway and Faulkner County but are a major segment of its economic engine.

More information on the economy of Faulkner County can be found at www.pulseofconway.com.

Page 8: 2012-11 Faulkner County Business Journal