2012-09 Faulkner County Business Journal

SEPTEMBER 2012

Serving the Conway area for more than 40 years FULL STORY, PAGE 4.

New Event Recognizes Women in Business Chamber of Commerce accepting nominations for awards

The Conway Area Chamber 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 Stu-

dent Center Ballroom on the University of Central Arkansas campus.

Brad Lacy, president and CEO of the Conway Area Chamber of Commerce, said although a large number of Chamber members are women-owned enterprises, there has not been an event focused exclusively on the achievements 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.”

At the Women in Business event, five individuals will receive the “Outstanding Woman in Business Award.” Those selected will embody high standards of excellence, dedication and accomplishment to their respective organizations, industries 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

What’s that gonna be?

Conway Main Office of Summit Bank Summit Bank will have two locations in Conway with plans to open a third in 2014. Summit came to the Conway market in September of 2011.

Where is that? Scherman Heights on Salem Road north of College Avenue.

When’s it gonna be finished? January of 2013 Who’s building it? Mallard Construction of Vilonia 2 | FAULKNER COUNTY BUSINESS JOURNAL

empowered many generations of women and who has had a positive impact on those in her profession and in the community.

The Chamber is accepting

nominations for the awards now through Friday, Sept. 21.

A panel of Chamber executives outside the state of Arkansas will select the award recipients.

To submit nominations, visit ConwayArkansas.org and click on the Women in Business icon.

For questions about the awards or the call for nominations, contact Lindsay Wygal, vice president of member services, at 501-932-5403 or at Lindsay@ConwayArkansas. org.

FOURTH annual EcoFest expands in size and scope EcoFest organizer Debbie Plopper thinks this year’s EcoFest has something to offer everyone. Plopper says the 4rd Annual EcoFest scheduled for Saturday, September 8th in Laurel Park is shaping up to entertain and educate a record number of area residents. The event packs colleges, nonprofit and civic organizations and dozens of exhibitors into a 10am to 4pm agenda that focuses on environmental education.

EcoFest’s mission is “to create a highly interactive environmental community festival that celebrates the interconnected web of life.”

Plopper says that the festival strives to provide a balanced look at issues that affect everyone in their daily life. “The goal is to try and make learning about the environment enjoyable.

Attendees don’t need an interest in environmental science to enjoy the event. The festival will include exhibits and events that range from green building practices and agriculture to a cardboard car derby. “There is a ton for kids to do. We really

make an effort to schedule events that attract people who normally wouldn’t attend an environmental event,” said Plopper.

This year, EcoFest has expanded a special focus on health. UAMS will be on hand to talk about healthy homes, shedding light on issues like respiratory illness and the impact of household chemicals. Interactive displays on skin cancer, nutrition and healthy lifestyles will also be on hand.

The Conway Police Department will facilitate a prescription drug collection. Plopper says it’s a good example of an issue many do not directly associate with the environment. “Just throwing away or flushing prescription drugs can have a real impact on our water supply.

There will be cooking demonstrations, speakers, live music and a host of interactive displays for kids and adults to enjoy. The Saturday, September 8th event at Laurel Park kick off at 10am and lasts until 4:00pm.

For more information and a full schedule of events visit www.ConwayEcoFest.com.

Conway Economy at a Glance Unemployment Rate July 2012 US ...............................8.2% Arkansas.......................7.2% Faulkner County ......... 7.0% Conway.........................6.9% Sales Tax Collections Conway* June 2012................... $1,960,705 2011................... $1,895,993 Percent Change (3.4%) Year to Date (May) 2012................... $11,33,863 2011................. $10,701,088 Percent Change (6%) Annual* 2011................. $22,366,464 2010................. $21,868,102 Percent Change (2.3%) *Tax Rate 1.75% Faulkner County* June 2012...................... $696,357 2011...................... $709,622 Percent Change -1.9%) Year to Date (May) 2012................... $3,526,070 2011................... $3,234,591 Percent Change (9.0%) Annual* 2011................... $8,279,301 2010................... $7,834,226 Percent Change (5.7%) *Tax Rate (0.5%) Restaurant Sales* June 2012................. $13,899,493 2011................. $12,631,975 Percent Change (10.0%) Year to Date (June) 2012................. $81,757,540 2011................. $74,370,903 Percent Change (9.9%) Annual Sales 2011............... $151,462,797 2010............... $139,864,203 Percent Change (8.3%) *Includes mixed drink sales Hotel Sales June 2012................... $1,959,078 2011................... $1,898,253 Percent Change (3.2%) Year to Date (June) 2012................. $10,225,010 2011................... $9,510,794 Percent Change 7.5% Annual Sales 2011................. $18,662,136 2010 ............... $17,590,242 Percent Change 6.1%

Conway Building Permits Single Family Homes Permits Issued January — August 2012.................. 115 permits 2011.................. 102 permits 2010..................174 Permits Percent Change 2011-12 (12.7%) Annual 2011..................153 Permits 2010 ................ 223 Permits Percent Change (-31.4%) Average Construction Cost* Year to Date (August) 2012...................... $213,211 2011..................... $203,056 2010...................... $173,296 Percent Change 2011-12 (5%) *Not including land or lot improvements Average Square Footage* Year to Date (August) 2012............................ 2,951 2011............................ 2,843 2010............................ 2,643 Percent Change 2011-12 (3.8%) * Total under roof Lottery Sales Faulkner County July 2012................... $1,290,928 2011................... $1,346,046 Percent Change (-4.1%) January — June 2012............... $246,594,684 2011............... $247,397,659 2010............... $240,635,674 Percent Change 2011-12 (-0.3%) Annual 2011................. $16,788,678 2010................. $17,540,450 Percent Change (-4.3%) Total State June 2012................. $34,570,424 2011................. $37,935,482 2012................. $35,359,397 Percent Change 2011-12 (-8.9%) Annual 2011 .............. $474,879,701 2010............... $459,916,256 Percent Change (3.3%)

Natural Gas Severance Tax Distribution July Faulkner County 2012.......................... $7,469 2011.......................... 19,485 Percent Change (-61.7%) Conway 2012.......................... $9,231 2011........................ $24,242 Percent Change (-61.9%) Year to Date (Jan.-July) Faulkner County 2012........................ $95,881 2011...................... $129,915 Percent Change (-26.2%) Conway 2012...................... $118,538 2011...................... $162,534 Percent Change (-27.0%) Annual Faulkner County 2011...................... $204,052 2010...................... $171,543 Percent Change (19.0%) Conway 2011...................... $254,822 2010...................... $221,225 Percent Change (15.2%) Wellhead Price per MCF* May 2012 ........................... $1.94 2011 ........................... $4.12 2010 ........................... $4.24 2009............................ $3.23 2008............................ $9.96 2007............................ $6.75 Yearly Average 2011 ......................... $3.95 2010 ......................... $4.48 2009 ......................... $3.67 2008.......................... $7.97 2007.......................... $6.25 2006 ......................... $6.39 2005 ......................... $7.33 2004 ......................... $5.46 2003 ......................... $4.88 2002 ......................... $2.95 *MCF=1000 cubic feet Number of Active Wells* Faulkner County............. 316 Total in Field . ............. 4,133 *As of June 31, 2012 Estimated Life Time Value of Production* Total Field.. $11,382,327,198 *As of November 31, 2011.

Information provided by pulseofconway.com

Economic Transformations

By Roger Lewis

During the past 100 years Conway experienced three major economic transformations. It moved from an agricultural economy to manufacturing to a service-oriented one.

In 1910 more than a dozen cotton gins in the county produced more than 15,000 bales of cotton that was worth approximately $1.5 million. This accounted for nearly the entire income of the county. Conway itself was an agriculture based community and remained that way until after World War II. Earlier, in 1933 Dave Ward founded Ward Body Works to produce school busses and that lead to Conway’s first large manufacturing industry. It was later acquired by International Corporation and flourished until 2010 when the majority of its operation was transferred to Oklahoma.

Virco, which manufactured school furniture, located here in 1951 and grew considerably. In 1959 the Conway Development Corporation was formed to establish an industrial park south of Conway. This park attracted Kimberly Clark, FMC (now Snap-On Tools), Rock-Tenn, Tokusen and numerous other industries. Manufacturers that have come and gone include Baldwin Piano, Universal Nolin, International Shoe Company, Nucor Steel, Polyvend International.

Today, however, there are no manufacturing companies among the top ten employers in Conway. In rank order by the number of employees, the top ten are Acxiom Corporation, University of Central Arkansas, Hewlett Packard, Conway Regional Health System, Conway Human Development Center, Southwestern Energy Company and Conway Public School System, each of which has more than 1000

employees. None are manufacturers; nine are knowledge based and service industries.

Southwestern Energy Corporation is the one exception; it is an exploration and gas service company.

In the past ten years Faulkner County has lost approximately 3,700 manufacturing jobs. The 7,124 jobs in 2001 shrank to 3,508 in 2011 but the overall employment numbers grew from 33,875 to 40,021 in the same period, a gain of 6,146 jobs. This was an amazing transition in a relatively short time.

Conway today is a vibrant community because it made the necessary transitions over the past century. Many communities in the Delta Region of Arkansas could not make the transition from an agriculture based economy and are essentially dying. Agriculture today, although it is still a large revenue producer in many areas, has become so efficient and large scale that it provides very few jobs.

Manufacturing, too, has become more efficient by increasing the number and quality of its production machinery, technological improvements in production processes, and inventory management. This resulted in greater manufacturing output with fewer employees.

In the U.S. during the 20 years between 1991 and 2011, productivity more than doubled, meaning that a single worker today produces what two did 20 years ago, according to the U. S. Bureau of Labor Statistics. As a result many companies had an over capacity for manufacturing so they shuttered plants and consolidated facilities. This was the case for International Corporation and their busses and for the move of Baldwin Piano facilities from Conway.

Many communities have been devastated when this happens but Conway, with its diversity and leadership, survived and flourished.

Conway has a low unemployment rate of 6.9% as compared to the state (7.3%) and nation (8.4%). (These are seasonally unadjusted rates which are slightly higher than the seasonally adjusted rates that are only available at the state and national level.) Conway has recorded lower unemployment rates for a number of years. Money Magazine recently published a list of top 25 counties in the U.S. for job growth. Faulkner County, with 35% growth between 2001 and 2011, was ranked 13th.

Many factors played into Conway’s successful transition from agriculture through manufacturing and to a knowledge and service based economy.

Location and labor conditions are very important factors, but people are what make things happen. Over the years we have had many entrepreneurs who took risks to start new businesses. Some examples are Axiom, Centennial Bank and Nabholz Construction. We have had good leadership in government and in our institutions. The Conway Corporation, the Conway Development Corporation, the Conway Regional Health System and our three institutions of higher education are good examples.

No one can predict for sure the changes will take place in the next 50 years but Conway has the right stuff and will remain a vibrant community.

You can obtain more information on the economy of Conway and Faulkner County by going to the Pulse of Conway website (www.pulseofconway.com). I thank my friend Chris Spatz for editing and helping me with this article.

FAULKNER COUNTY BUSINESS JOURNAL | 3

Stephen K. Magie, M.D., is a second-generation Ophthalmologist and the son of Dr. J.J. Magie, founder of Magie-Mabrey Eye Clinic P.A. The clinic is now the largest, most comprehensive eye-care clinic in Conway and Faulkner County.

COVER STORY

Magie-Mabrey Eye Clinic Serving the Conway area for more than 40 years

Magie Mabrey Eye Clinic, PA is the largest, most comprehensive eye care clinic in Conway and Faulkner County. The team of doctors and staff at Magie Mabrey provide a superior health care experience to patients in a comfortable environment.

J.J. Magie.M.D. founded Magie Mabrey Eye Clinic in September, 1970. He practiced medicine and surgery for a number of years before starting his Ophthalmology practice in Conway. He completed his Ophthalmology residency at the University of Arkansas for Medical Sciences and then opened his clinic on Caldwell Street in Conway. In 1986, along with Dr. Stephen Magie the clinic moved to its present location at 924 Main Street. Dr. J.J. Magie is currently practicing medical Ophthalmology in Morrilton.

O

ur team of doctors and staff are dedicated to providing a superior health care experience in a comfortable environment.

Our practice along with Conway has grown into Conway’s largest, most comprehensive eye care clinic in Faulkner County. Our clinic has expanded from one Ophthalmologist and couple of employees to a staff of thirty-four employees.

We now have with six Ophthalmologists and two Optometrists.

Our Conway physicians are Stephen K. Magie, M.D., William T. Mabrey, M.D. ,Melanie F. Smith, M.D. and Justin W. Charton, M.D.. Our Little Rock physicians are Bradley M.Hughes, M.D., Cedric S. Pratt, D.O. Drs. Stephen Magie and William Mabrey also practice in the Little

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Rock location. Our Optometric physicians in Conway are Jeffrey J. Strossner, O.D. and B. Scott Koontz, O.D. Ophthalmology Drs. Magie, Mabrey, Hughes and Pratt are certified by the American Board of Ophthalmology and have completed fellowships in retinal disease. The primary focus of their practice is retinal related disease including macular degeneration, diabetic retinopathy and retinal surgery. We have the expertise to diagnose and manage all retinal problems. Whether the treatment requires surgery, or just medical management, our team of doctors will work to improve and maintain your vision.

We offer the latest advances in treatment of all types of retinal diseases. They have office locations in Conway, Little Rock, Fort Smith, Arkadelphia and Pine Bluff.

Dr. Smith and Charton are

board certified by the American Board of Ophthalmology and practice in our Conway office.

They specialize in all aspects of comprehensive Ophthalmology including laser eye surgery and cataract surgery.

Optometry Drs. Koontz and Strossner are our Optometric physicians.

Dr. Koontz graduated from Southern College of Optometry in Memphis, Tennessee.

Dr. Strossner graduated from Northeastern State University College of Optometry in Tahlequah, Oklahoma. They complete our eye care team providing comprehensive primary eye care including routine exams, contact lens, glasses and medical eye care.

Full Service Optical Shop We also have a full service optical shop with a licensed optician on staff. We carry a large selection of popular name

brand frames, sunglasses and safety wear. We can help with choosing a new frame that best suits your needs as well as with any type of repair or adjustment. We have been in the same location since 1986.

We offer multiple types and brands of contact lenses to fit your visual needs and lifestyle. Our doctors will help you choose what is right for you.

We carry a large inventory of contacts for the convenience of our patients.

Our team of doctors and staff are dedicated to providing a superior health care experience in a comfortable environment.

We are open Monday through Friday from 8am to 5pm. All our doctors are accepting new patients. We would love to take care of your family’s eye care needs. For more information about Magie Mabrey Eye Clinic, visit www.mmeyeclinic.com . To schedule an appointment, call 501-327-4444.

What’s that gonna be?

Arbor Point Arbor Point will feature 32 two bedroom and 8 one bedroom upscale apartments. Complex common areas will feature a pavilion, barbeque grills and an outdoor firepit.

Where is that? North Market Plaza between North Donaghey and Meadowlake.

When’s it gonna be finished? Early spring of 2013.

Who’s building it? Watson Homes is the contractor. The property will be managed by Watson Family Properties. Contact Michelle Watson at 501.472.8201 for leasing info.

Sponsorships, Booth Space Available for Business Expo, taste of conway The Conway Area Chamber of Commerce invites area businesses to participate in the 2012 Business Expo. The event will take place Thursday, Oct. 4, at the Conway Expo Center and Fairgrounds.

Southwestern Energy is the presenting sponsor.

Business Expo comprises a breakfast, a trade show and Taste of Conway. Bart Shaw, vice president of operations at the Conway Area Chamber of Commerce, said that this setup provides businesses with varied opportunities to network with other professionals and exhibit their products and services to a diverse and captive audience.

“Business Expo’s threepronged approach is what sets it apart from other expos in the central Arkansas area,” Shaw said. “First, the Business Expo Breakfast is attended by more than 150 representatives from Conway’s business community, including many decision makers.

“Second, the trade show provides exhibitors with both immediate and deferred sales opportunities and business-tobusiness networking. Finally,

Taste of Conway attracts more than 500 potential customers to Business Expo.”

Business Expo kicks off at 8 a.m. with the Business Expo Breakfast, presented by Conway Corporation.

The breakfast has been part of Business Expo for three years and traditionally has served as an occasion for the Conway Area Chamber of Commerce to announce substantial economic development and community initiatives. In 2010, the Chamber unveiled Conway2025 at this event, and in 2011, the Chamber revealed the design of the Interstate 40 corridor.

This year, Brad Lacy, president and CEO of the Conway Area Chamber of Commerce, will introduce a new education program for Conway at the breakfast.

Tickets are required to attend the breakfast and can be purchased for $10 at the Conway Area Chamber of Commerce.

The Business Expo and Retail Showcase, a business-tobusiness trade show, begins at 9 a.m. and lasts until 3 p.m.

The Chamber has added

a lunch presentation to this year’s Expo. Scott Bennett, director of the Arkansas Highway Transportation Department, will speak about an upcoming sales tax election and the potential impact on the Conway area. Admission to the Expo is free, but the lunch will cost $5 at the door.

Taste of Conway, presented

by Arvest Bank, gives the community the chance to sample some of the best food Conway has to offer. The event takes place from 5 to 7:30 p.m. on the floor of Business Expo, giving food service providers the opportunity to get in front of more than 500 company representatives and community members. Restaurants, caterers, food and drink distributors, and other food service providers that are members of the Chamber are eligible to participate in Taste of Conway at no cost.

Sponsorships and booth space are available for the 2012 Business Expo and Taste of Conway. Contact the Chamber at 501-327-7788 or visit ConwayArkansas.org to learn more about sponsorship and exhibition opportunities.

Chamber accepting MED awards NOMINATIONS

The Conway Area Chamber of Commerce is accepting nominations for the 2012 Minority Enterprise Development awards.

These awards celebrate the achievements of minority entrepreneurs and the individuals and organizations committed to advancing minority business enterprise.

The Chamber of Commerce established the MED committee to foster growth and sustainability of minority businesses and as a way to

recognize minority businesses and their supporters.

The awards will be presented at the MED awards gala, which will take place Tuesday, Oct. 9, at 6:30 p.m. in the Student Center Ballroom on the University of Central Arkansas campus.

Corliss Williamson, head men’s basketball coach at UCA, will be the keynote speaker.

There are five categories of MED awards: • The Access to Capital

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award is presented to the individual, organization or business that has demonstrated outstanding leadership in the financial community by providing working or investment capital to minority businesses.

• The Advocate for Opportunity award is presented to the individual, organization or business that has demonstrated significant accomplishments in educating and advocating for minority business enterprises.

• The Minority of the Year for Economic Development award

is presented to the individual, organization or business whose practices have had a significant impact on community growth and development.

• The Outstanding Minority Business of the Year award is presented to the business whose practices have had a significant impact on the community.

• The Lifetime Achievement Award is presented to the individual who has played an integral role in the creative, technical or professional

progress of minority business development over the course of his or her life.

The Chamber is accepting nominations for the awards now through Friday, Sept. 21.

To submit nominations, visit ConwayArkansas.org and click on the MED icon.

For questions about the awards or the call for nominations, contact Lindsay Wygal, vice president of member services, at 501-932-5403 or at Lindsay@ConwayArkansas. org.

New AND Relocating Businesses ARE MAKING Their Way Downtown

Downtown Conway continues to see steady enhancement as new and relocating businesses make their way to the heart of the city. In addition, more living space and the increased availability of commercial property contribute to the area’s vibrancy. Kim Williams, executive director of the Conway Downtown Partnership, outlined some of the changes coming to downtown Conway this fall.

Downtown Conway will soon have more shopping and din-

ing options. Grand On Oak, located at 1101 Oak Street, will host a grand opening Thursday, Sept. 6, from 6-9 p.m. The business features home décor items, gifts, jewelry and women’s apparel. The Pasta Grill, located at 915 Front Street, will open in September.

Two Conway organizations are expanding and relocating to the renovated property at 1058 Front Street. OneChurch is opening a new youth facility and recreation center in the building previously occupied

by the Log Cabin Democrat.

Blackbird Academy of Arts is also relocating into the space, which is being renovated by Covington Properties.

With the addition of new residential properties, downtown Conway is becoming more than just a place of business. A renovated apartment complex called 1404 Place is located on the corner of Caldwell and Locust Streets and is now available for lease.

The one- and two-bedroom apartments feature washer

and dryer hookups, stainless steel appliances, wireless Internet access and new finishes throughout.

Kim Williams says the apartments are ideal for young professionals who want an urban lifestyle and are within walking distance of all restaurants, retail stores and entertainment.

Cultural events and weekend activities abound in downtown Conway. On Saturday, Sept.

15, the Conway Fall Classic Bicycle Tour will leave from First United Methodist Church

at 8 a.m. for a 28- to 62-mile ride. The Faulkner County Fair Parade takes place Tuesday, Sept. 18, at 5 p.m. in downtown Conway. Conway ArtsFest kicks off Friday, Sept.

21, at Simon Park with a free Conway Symphony Orchestra community concert. ArtsFest continues through Sept. 29.

To stay informed about the latest news and events happening downtown, visit the Conway Downtown Partnership’s website at DowntownConway.org.

INTERACTIVE SCULPTURE AT UCA FOR ARTSFEST The Baum Gallery of Fine Art at the University of Central Arkansas announces the upcoming installation of the Mirazozo luminarium on the campus of UCA, September 27-29, 2012 A luminarium is an inflatable, building-sized sculptural environment created by Architects of Air, a design firm based in Nottingham, England.

The design of the Mirazozo luminarium is based on gothic cathedrals and Islamic architecture and features a maze of colorful winding paths and domes for patrons to explore.

Luminaria by Architects of Air have been installed in over 37 countries around the world, and this will be the first to be installed in the state of Arkansas. “We are thrilled to be the first to present the work of Architects of Air in the state of Arkansas,” said Baum Director, Barclay McConnell, “and we are grateful to the many art lovers in Conway who have offered financial support for this project.”

Hours of operation for Mirazozo are: 12 - 6 p.m. on Thursday and Friday, Sept. 27th and 28th, and 11 a.m. - 5 p.m. on Saturday, Sept. 29th.

Entry is free but timed tickets must be reserved in advance through UCA’s

Baum Gallery of Fine Art. Information on timed tickets will be available on the Baum Gallery’s website in early September at uca.edu/art/baum.

The installation will be located on the Donaghey side of campus near the entrance to Alumni Circle, directly in front of McAlister Hall.

The installation of Mirazozo will be in conjunction with Conway’s annual ArtsFest and will be a family-friendly community event with musical and dance performances and a festival atmosphere. The installation is open to all ages and is handicap accessible.

The Mirazozo luminarium is presented by the Baum Gallery of Fine Art and the College of Fine Arts and Communications at the University of Central Arkansas in collaboration with various community supporters including: The Conway Convention and Visitors Bureau, the Conway Chamber of Commerce, the UCA Center for Community and Economic Development and individual community patrons.

For more information on the Baum or the installation of the Mirazozo luminarium, visit http://uca.edu/art/ baum/ or architects-of-air.com

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