JANUARY 2014

CONWAY WEALTH MANAGEMENTBACKED BY THE DESIRE TO HELP, GREG PILLOW RECOGNIZED

THE IDEAL TIME TO FOUND CONWAY BUSINESS, STORY PAGE 4.

The Conway Area Chamber of Commerce has hired Jimmy War-ren II as its director of membership. Warren is responsible for member relations; membership investments; and mem-ber programs, services and benefits.

A native of Crossett, Ark., Warren earned a bachelor’s degree in speech communication from Arkansas Tech Uni-versity. He previously worked for Hewlett-Pack-ard’s inside sales division for more than four years.

“Jimmy’s experience coupled his initiative, energy and drive will serve our Chamber mem-bers well,” said Lindsay Wygal, senior vice presi-dent of Chamber opera-

tions. “He is passionate about helping people and will be a great resource for businesses looking for ways to get the most out of their Chamber mem-bership.”

Warren resides in Con-way with his wife, Shaki-ra, and their two daugh-ters: Amaya, 6, and Alivia, 2. He said working at the Chamber gives him an opportunity to help make Conway an even better community in which his children can grow up.

“Being a father of two young daughters, I real-ize how the community you are raised in can im-pact your life,” he said. “I want to make sure I dedicate my all and help in every possible way to make Conway better.”

Faulkner County Business Journal To subscribe call (501) 329-2927 • Log Cabin Democrat2D — Sunday, January 19, 2014

Jimmy Warren

Warren named director of membership at Chamber

Community business leaders can access the knowledge and experience of world-renowned lead-ers by attending Lead-ercast® at Central Bap-tist College in Conway on May 9, 2014.

The Leadercast event is broadcast live from At-lanta, Ga., to hundreds of sites around the world, including Conway. This year’s speaker lineup in-cludes:

• Andy Stanley,leadership author and communicator

• Archbishop Des-mond Tutu, Nobel lau-reate and human rights activist (live from Cape Town, South Africa)

• MalcolmGladwell,

journalist and best-sell-ing author of The Tipping Point and Outliers

• Randall Wallace,screenwriter, director, producer and songwriter (Braveheart, Secretariat)

• Jack Welch, for-mer CEO of General Elec-tric

• LauraSchroff,for-mer ad sale executive and best-selling author of An Invisible Thread

• Dr. Henry Cloud,clinical psychologist and leadership consultant

• Simon Sinek,best-selling author of Start with Why and lead-ership expert

• LauraBush,FirstLady of the United States, 2001-2009 (via exclusive

video interview)Last year, more than

100,000 leaders from 14 countries attended Lead-ercast. Now in its 15th year, this full-day, expe-riential conference is on track to reach its largest audience to date. This is the third consecutive year the Conway Area Cham-ber of Commerce has host-ed a broadcast in Conway.

“Leadercast is an event that our organization has taken full advantage of for purposes of perspec-tive,” said 2013 attendee Kevin Ward, general man-ager at Kimberly-Clark Corporation. “The expe-riences and viewpoints of the guest speakers have connected well with our

own leaders. The variety of speakers has been key; each resonates slightly differently for our partic-ipants.”

Leadercast exists to change positively the way the world thinks about leadership. This year’s theme — Beyond You — challenges leaders to fo-cus outward rather than inward. Experience Lead-ercast live on May 9, 2014, and discover what it means to be a leader worth following.

For more informationabout Leadercast, visit www.leadercast.com. Forlocal ticketing informa-tion, call 501-932-5411 or visit www.ConwayCham-ber.org.

Conway to host simulcast of global leadership event

Faulkner County Business Journal Sunday, January 19, 2014 — 3D Log Cabin Democrat • Find our online edition at www.thecabin.net

Adena White, director of communications for the Conway Area Cham-ber of Commerce, has successfully completed the Examination for Ac-creditation in Public Re-lations, entitling her to use the APR professional designation. The desig-nation is granted by the Universal Accreditation Board (UAB), a consor-tium of nine professional communication organi-zations that directs this competency certification program.

The Accreditation pro-gram aims to improve the practice of public relations by assessing competence in 60 areas of knowledge, skills and abilities associated with the profession.

The Examination is designed for public re-lations professionals with five to seven years of job experience and/

or a bachelor’s degree in a communication field. Candidates who suc-cessfully complete the process, which includes presenting his or her portfolio to a Readiness Review panel of three Accredited peers and

sitting for a computer-based Examination, are granted the APR.

The computer-based portion of the Exami-nation is administered throughout the year at more than 300 Promet-ric Testing Centers. The

Readiness Review is con-ducted prior to the com-puter-based portion of the Examination by a panel of three Accredited members of one or more of the nine organizations participating in the UAB. Professionals earning

the APR must maintain their credential through continuing professional development, providing leadership to the profes-sion, and serving their local communities.

“By earning the APR, Adena has demonstrat-ed a commitment to the public relations profes-sion and a strong code of ethics,” said Jamie Gates, senior vice presi-dent at the Conway Area Chamber of Commerce. “This achievement is a public recognition of all the things she has done to strengthen our orga-nization.”

White is a member of the Public Relations So-ciety of America. She is serving a three-year term on the board of di-rectors for the Arkansas Chapter of PRSA.

About the Universal Accreditation Board

The UAB was estab-

lished in 1998 by a coali-tion of public relations professional organiza-tions that today includes the Public Relations So-ciety of America, the Agricultural Relations Council, Asociación de Relacionistas Profesion-ales de Puerto Rico, Flor-ida Public Relations As-sociation, Maine Public Relations Council, Na-tional School Public Re-lations Association, Re-ligion Communicators Council, Southern Pub-lic Relations Federation, and Texas Public Rela-tions Association.

Each organization contributes resources and senior-level volun-teer members who repre-sent all segments of the public relations profes-sion. For more informa-tion about the UAB and the APR designation, visit www.praccredita-tion.org.

White earns public relations credential

Adena White

The Conway Area Chamber of Commerce has secured dates for several of its 2014 events. Events at the Chamber serve four primary pur-poses:

HonorAwards programs such as Annual Meeting,

Academic Signing Day, Minority Enterprise De-velopment Awards Gala, and Women in Busi-ness celebrate achievements and recognize the contributions of individuals and businesses in the Conway area.

PromoteBusiness Expo and Taste of Conway as well

as the Teacher Breakfast and Education Fair are business-to-business and industry-specif-ic trade shows that allow companies to exhibit

products and services to hundreds of potential customers.

ConnectFun and informal networking events such as

Bowling for Business and Business After Hours give individuals the opportunity to develop rela-tionships with others in the Conway-area busi-ness community.

GrowCEO Luncheons and Leadercast feature lo-

cal and internationally known leaders who in-form and inspire business professionals by shar-ing their experiences and advice.

Visit ConwayChamber.org for the latest in-formation about upcoming events hosted by the Conway Area Chamber of Commerce.

Save the date for upcoming Chamber eventsUPCOMING EVENTS

March 20 Annual Meeting

May 2-4 Toad Suck Daze

May 9 Leadercast

May 15 Academic Signing Day

Oct. 9 Business Expo & Taste of Conway

Oct. 16 Conway Downtown Partnership Annual Meeting

Dec. 9 Women in Business

Faulkner County Business Journal To subscribe call (501) 329-2927 • Log Cabin Democrat4D — Sunday, January 19, 2014

COVER STORY

‘THE BEST WAY TO SERVE’CONWAY WEALTH MANAGEMENT HELPS CLIENTS REACH FINANCIAL GOALS

A desire to help people was one of the reasons Greg Pillow, CFP®, be-came a financial advisor and, ultimately, a Certi-fied Financial Planner™. He began his career 15 years ago with Edward Jones Investments and later worked for Merrill Lynch. In 2010, Pillow and a colleague formed an independent practice.

“After Merrill Lynch merged with Bank of America, we saw that as a good opportunity to open our own business,” Pillow said. “I recognized that becoming an inde-pendent financial advi-sor was the best way to serve my clients.”

In what Pillow de-scribes as a “natural evo-lution,” he embarked on his own and opened Con-way Wealth Manage-ment on July 1, 2013. The business is located at 707 Parkway St., Suite 104, in downtown Con-way. Since opening, Pil-low has helped existing clients and several new families pursue their fi-nancial goals.

Conway Wealth Man-agement offers a num-ber of products and services for individu-als and businesses, in-cluding comprehen-sive financial planning, retirement planning, in-vestment management, estate planning, busi-ness succession planning and business retirement planning. The firm also assists clients with the

purchase and evaluation of life insurance, long-term-care insurance and disability insurance.

“A common miscon-ception for our indus-try is that financial plan-ners trade stocks all day. Yes, we can buy stocks and bonds for people, but that’s not the only thing we do,” Pillow said. “What we do is try to help our clients improve their financial situations.”

Client needs range from making a budget and balancing accounts to deciding how to pursue major purchasing and in-

vestment decisions. “Our primary focus is helping people with investments. I specialize in retirement planning for individuals and small business own-ers,” Pillow said. “Much of our work, however, is an education process. We spend a lot of time help-ing people decide wheth-er or not they should re-finance their mortgage or if they should buy or lease a vehicle.”

Conway Wealth Man-agement’s clients have access to Web-based fi-nancial planning soft-ware that allows them to

get a holistic view of their assets. Pillow said the tool enables his clients to aggregate their accounts and manage their financ-es at their fingertips.

“If they choose to, cli-ents are able to use this technology to see their retirement and other in-vestments at work. They can also set it up so that they can view and orga-nize information about their mortgage, car loans, bank accounts and insur-ance. Not all financial ad-visors use this tool.”

Pillow said that as an independent wealth

management company, Conway Wealth Manage-ment has the flexibility to offer clients the solu-tions that best meet their needs. “We determine — at a local level — what’s right for each family’s sit-uation,” he said. “Unlike some of the major firms, we do not have proprie-tary products we are en-couraged to sell.”

One important thing Conway Wealth Man-agement does have in common with major bro-kerage firms is inves-tor protection. ProEqui-ties, Inc., a broker-dealer

contracted with Conway Wealth Management, gives the firm access to mutual funds, annui-ties and direct invest-ments. It also helps Con-way Wealth Management meet regulatory obliga-tions as well as providing fraud protection through the Securities Investor Protection Corporation, aka SIPC.

Pillow, office admin-istrator Rita Stapleton and receptionist Jessie Hogan make up the staff at Conway Wealth Man-agement. “I’ve worked with Rita since 2010. She plays a vital role in running the office and her banking background comes in handy in mak-ing sure everything gets processed,” Pillow said. “She also does an excel-lent job working with cli-ents.”

A graduate of the Uni-versity of Central Ar-kansas, Pillow said Con-way is a great place to do business. “Conway is a progressive town that’s full of good people. The entities representing Conway have worked to-gether well to create a business-friendly envi-ronment.”

Disclaimer: Advisory Servic-es offered through Investment Advisors, a division of ProEqui-ties, Inc., a Registered Invest-ment Advisor. Securities offered through ProEquities, Inc., a Registered Broker/Dealer, and member FINRA and SIPC. Con-way Wealth Management is In-dependent of ProEquities, Inc.

Conway Wealth Management’s Greg Pillow, Rita Stapleton and Jessie Hogan.

Faulkner County Business Journal To subscribe call (501) 329-2927 • Log Cabin Democrat6D — Sunday, January 19, 2014

Information provided by pulseofconway.com

Conway Economy at a Glance

Unemployment Rate*November

US ..............................7.0%Arkansas .............................7.5%Faulkner County ............... 6.8%Conway 6.9%*Faulkner County & Conway not Seasonally Adjusted

Sales Tax CollectionsConway*October

2013 ....................$1,938,1562012 ....................$1,849,793Percent Change 4.8%

Year to date (October)2013 ..................$19,072,2322012 ..................$18,926,125Percent Change 0.8%

Annual2012 ..................$22,944,1632011 ..................$22,366,464Percent Change 2.6%*Tax Rate 1.75%

Faulkner County*October

2013 .......................$711,4872012 .......................$681,433Percent Change 4.4%

Year to Date (October)2013 ....................$7,082,5572012 ....................$7,039,323Percent Change 0.6%

Annual*2012 ....................$8,465,6862011 ....................$8,279,301Percent Change 2.3%*Tax Rate 0.5%

Restaurant Sales*November

2013 ..................$13,422,7402012 ..................$12,724,484Percent Change 5.5%

Year to Date (November)2013 ................$137,612,1712012 ................$135,096,301Percent Change 1.9%

Annual Sales 2012 ................$151,611,4082011 ................$147,820,786Percent Change 2.6%*Including mixed drink sales

Hotel SalesNovember

2013 ....................$1,277,1172012 ....................$1,206,392Percent Change 5.9%

Year to Date (November)2013 ..................$17,480,2192012 ..................$17,526,682Percent Change -0.3%

Annual Sales2012 ..................$18,683,676

2011 ..................$18,662,136Percent Change 0.1%

Conway Building PermitsSingle Family Homes

Annual2013 ...................147 Permits2012 ...................186 Permits 2011 ...................153 PermitsPercent Change 2012-13 -21.0%

Average Construction Cost*Annual

2013 .......................$228,2752012 .......................$207,5372011 ......................$204,387Percent Change 2012-13 10.0%*Not including land or lot im-provements

Average Square Footage*Annual

2013 .............................3,0022012 .............................2,9102011 .............................2,814Percent Change 2012-13 3.2%

Average Construction Cost Per Square Foot*

Annual2013 ...........................$76.042012 ...........................$71.332011 ...........................$72.64Percent Change 8i2012-13 6.6%%* Total under roof

Lottery SalesFaulkner County

Annual2013 ..................$17,038,2772012 ..................$16,943,9092011 ..................$16,768,678Percent Change 2012-13 .06%

Total StateAnnual

2013 ................$432,932,7992012 ................$452,245,2152011 ................$474,879,701Percent Change 2012-13 -4.3%

Natural GasSeverance Tax

DistributionConwayAnnual

2013 .......................$276,5232012 .......................$162,4572011 .......................$254,822Percent Change 2012-13 70.2%

Faulkner CountyAnnual

2013 .......................$224,4552012 .......................$131,4182011 .......................$204,052Percent Change 2012-13 70.8%

Construction industry still in the tankBy RogeR Lewis

While national indicators show that the econo-my is slowly recovering, the economy of Conway and Faulkner County appears stagnant. Sales tax collec-tions are up less than one percent, the unemploy-ment rate has increased to state and national levels, and construction is at a 10-year low.

The construction industry and particularly home construction is an important engine in our local economy. Home construction generates jobs, retail sales, and sales tax and real estate tax revenue.

Table 1 shows statistics for single-family home construction in Conway for the most recent six years. In 2013 only 147 building permits were issued. Not only was this the lowest since the recession start-ed in 2008, it is the lowest since 1992 when I began tracking this data.

Other trends are apparent in Table 1: houses are getting larger (up 7%), more costly (11% increase), and consequently more valuable (up 18%). These trends imply that fewer entry-level homes are be-ing constructed. In fact, only 19 houses had con-struction costs of $100,000 or less. These19 repre-sent just 13% of the houses constructed.

Another factor that has raised the price of hous-ing in Conway is that infrastructure development costs have escalated. The average construction cost of $228,278 for homes built in 2013 does not include the cost of the lot. Lots run from $35,000 to as high as $100,000. This puts the average cost of a new-ly constructed home into the $250 - $300 thousand range, which is well above the budget of many buy-ers, particularly first time homeowners.

When other residential units (duplexes and apart-ments) are added to the picture, 2013 remains a dis-appointment. Except for 2011, the 299 total family units built in 2013 were the lowest since 1992.

The national picture, however, is fairly rosy. The National Association of Home Builders forecast a 17% increase in single-family home construction in 2013 and a 24% increase in 2014. According to

NAHB Chief Economist David Crowe last fall, “The previous three months for new-home sales have all been revised up, and the final quarter of 2013 is shaping up to be the best quarter since the sec-ond quarter of 2008. Historically low interest rates, affordable home prices and a healing economy are bringing buyers back into the marketplace.” This is not the story in Conway Arkansas.

Why is Conway lagging in home construction when it has been so robust in previous years? There is no single answer; a combination of factors is at work. Although interest rates have remained low, it is more difficult to qualify for loans so many first time home shoppers are shut out of the market. The increased regulation of the home mortgage indus-try was a result of the mortgage crises of 2008. Also, the population of Conway is not expanding at the same rate as earlier. From 2000 to 2010 the popu-lation increased from 43,167 to 58,908, an average increase of 1574 per year. From 2010 to 2012 the population increased to 61,246, an average of 1169 per year. Local economic events have contributed: a moderating natural gas industry and layoffs at Acx-iom and Hewlett Packard. Finally, the recession has produced a less mobile population, nationwide.

But what about commercial construction? Is it down too? In a word, Yes. Table 2 shows the value of all construction for the past six years for both resi-dential and commercial. This includes new construc-tion, remodeling and additions. Table 2 shows that commercial construction in 2013 ($59.5 million) was back down to the level of 2008 ($58.9 million) after a 5-year upward trend that ended in 2012. An overall statistic is that the total residential and commercial construction in 2013 ($110 million) is only 78 per-cent of the total six years ago.

In 2012 the largest commercial permit was ap-proximately $52 million at the new Conway Air-port. In 2013 the largest project granted a permit was Faulkner County’s Criminal Justice System lo-cated on South German Lane ($10.6 million). Oth-

CoNsTRUCTioN < 7D

Faulkner County Business Journal Sunday, January 19, 2014 — 7D Log Cabin Democrat • Find our online edition at www.thecabin.net

Top 5 Residential Home Sales

Price Address Bed Bath Subdivision SqFt Price/SqFt Yr Built$432,500 60 Caney Creek Road 4 4 n/a 5,130 $82.85 2000$347,000 745 Bristol Lane 4 3 Bristol Place 2,630 $133.04 2013$302,000 54 Hwy. 25 4 2.5 n/a 3,284 $98.93 1973$296,000 2460 Ginger Kerry Lane 6 3 Dogwood Estates 3,367 $88.80 2001$247,000 8 Trafalgar 4 3 Westminster 2,775 $93.51 1991

er 2013 projects that ranged from $3 million to $5.5 million were: Hendrix Stadium ($3.0), CBC Library ($3.4), Crain KIA Dealership ($3.5), Hendrix Village Dorms ($4.2), Walmart Neigh-borhood Market ($4.9) and Second Baptist Church ($5.5).

The conclusion seems clear: The con-struction industry is still in the tank. Is 2013 the start of a downward trend or is it just one of the usual downs of our up-and-down economy? I am optimis-

tic that we will have an upward trend in construction as well as the econo-my in general. Conway and Faulkner County seems to lag behind economic trends. As the construction industry is rebounding nationally, we will follow.

I thank my friend Chris Spatz for editing and helping me with this arti-cle.

You can obtain more information on the economy of Conway and Faulkner County by going to the Pulse of Con-way website (www.pulseofconway.com).

CONSTRUCTION from 6D

More than 25 down-town stores and restau-rants will participate in the Moonlight Mad-ness shopping event on Friday, Jan. 31. Orga-nized by the Conway Downtown Partnership, Moonlight Madness has

been a downtown tra-dition for more than 20 years.

Many storeowners will keep their doors open for extended hours — from 6 to 9 p.m. — and invite Friday-night shoppers and diners to

browse their selection and take advantage of special offers.

To stay informed about events happen-ing downtown, visit the Conway Downtown Partnership’s website at DowntownConway.org.

Downtown Partnership to host ‘Moonlight Madness’

Steve Mueller, presi-dent and CEO of South-western Energy Compa-ny, will be the featured guest at the Conway Area Chamber of Com-merce’s Annual Meeting, presented by Hewlett-Packard and the Univer-sity of Central Arkansas. The event is scheduled for Thursday, March 20, at 6:30 p.m. and will take place at the Con-way Expo Center and Fairgrounds.

Muller joined SWN in

2008 as president and chief operating officer and was named CEO in May 2009. He has more than 30 years of experi-ence in the oil and gas industry and serves on the boards of America’s Natural Gas Alliance, the American Explo-ration and Production Council, and the Inde-pendent Petroleum As-sociation of America.

In addition to the CEO-level guest speak-er, another highlight

is an awards presenta-tion honoring individu-als and businesses that have made a differ-ence in Conway over the past year. The nomina-tion process has closed and winners will be an-nounced in February.

Tables and sponsor-ships start at $600 and individual tickets are $75. To reserve space, contact Mary Marga-ret Satterfield at Mary@ConwayArkansas.org or 501-932-5412.

SWN CEO Mueller featured guest at ’14 Annual Meeting

Steve Mueller