AUGUST 2015
Covington Companies Expands to Commercial Real Estate
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Left to right: George Covington Sr., Stephanie Covington, George Covington Jr. and Jason Covington.
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2D — Sunday, August 9, 2015
Faulkner County Business Journal
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New workshop series Aaron Throneberry graduates from Institute for Organization Management for small-business owners set to launch
Aaron Throneberry, director of sales at the Conway Area Chamber of Commerce, received the IOM graduate recognition in July from the Institute for Organization Management. Institute is a four-year professional development program of the U.S. Chamber of Commerce Foundation. As a graduate of Institute, Throneberry has completed 96 hours of course instruction in nonprofit management.
‘Obtaining my IOM has afforded me many learning opportunities as a Chamber professional.’
—
Aaron Throneberry The curriculum consists of four weeklong sessions offered annually at five locations across the country. Participants learn from university professors, industry experts and leading practitioners in the chamber and association industries. Course topics include advocacy, membership, media training, finance, legal issues, human resources and other facets of running
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Aaron Throneberry
a nonprofit organization. “Obtaining my IOM has afforded me many learning opportunities as a Chamber professional,” Throneberry said. “I have been fortunate to gain insight from Chambers of all sizes and from all parts of the country. I will carry these best practices throughout my career.” Aaron Throneberry joins
Conway Area Chamber colleagues Brad Lacy, president and CEO; Laura Grimes, chief financial officer; Lindsay Henderson, chief operating officer; and Mary Margaret Satterfield, director of events, in earning the IOM graduate recognition. For more information about the program, visit Institute.USChamber.com.
Starting this fall, small-business owners in the Conway area will have access to a series of workshops focused on the challenges and opportunities facing independently owned and operated enterprises. The Conway Small Business Institute is a four-part workshop series designed to help smallbusiness owners establish, develop and promote their business. The University of Central Arkansas’ Division of Outreach and Community Engagement and the Conway Area Chamber of Commerce formed the Institute to accomplish goals outlined in Conway2025, the city’s longrange strategic plan. “The Conway Small Business Institute demonstrates UCA’s commitment to Conway’s smallbusiness community, and partnering with the Chamber of Commerce on this project was the perfect opportunity to provide continuing education that supports our local economy,” said Kristy Carter, executive director of UCA Outreach and Community Engagement. “We’re hopeful this Institute will equip current and aspiring business owners with the tools they need to be successful.” The Institute will offer two workshops this fall and two workshops in the spring of 2016. Sessions will take place on the last Thursdays of September, October, February and March. The 2015—16 sessions are as follows: •Sept. 24: Small Business Marketing •Oct. 29: Veteran-, Minority- and WomenOwned Business Certification •Feb. 25: Human Resources •March 31: Small Business Finance The Brewer-Hegeman Conference Center at UCA will be the site for the Conway Small Business Institute. The registration fee is $50 per workshop. Visit uca.edu/outreach/csbi to register or for more information.
Sunday, August 9, 2015 — 3D
Faulkner County Business Journal
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Sponsorships, booth space available for Business Expo, Taste of Conway Making connections with other professionals and attracting new customers are important parts of operating a business, but these duties often come second to day-today obligations. The annual Business Expo and Taste of Conway is a way for busy business owners and company representatives to devote one day to networking and promotion. The 2015 Business Expo, organized by the Conway Area Chamber of Commerce, is a daylong event that will take place Thursday, Oct. 15, at the Conway Expo Center and Fairgrounds.
Southwestern Energy is the presenting sponsor. Business Expo comprises a breakfast, a business-tobusiness trade show, lunch presentations and Taste of Conway. This multifaceted approach provides businesses with varied opportunities to network with other professionals and exhibit their products and services to a diverse and captive audience.
Business Expo Breakfast
Business Expo kicks off at 8 a.m. with the Business Expo Breakfast, sponsored by Conway Corporation and
Baptist Health. The breakfast has been part of Business Expo since 2010 and traditionally has served as an occasion for the Conway Area Chamber of Commerce to announce substantial economic development and community initiatives to more than 150 attendees. Past announcements include Conway2025, the design of the Interstate 40 corridor, a partnership with local nonprofit Arkansas Preschool Plus, and the Central Landing development. Tickets are required to attend the breakfast and can be purchased online for $10.
solving mysteries
Business-to-Business Trade Show
The Business Expo and Retail Showcase, a businessto-business trade show, begins at 9 a.m. and lasts until 7 p.m. Product demonstrations, business-to-business networking, and the actual selling of products and services – all done on the Expo floor – can ultimately increase sales and sales leads for exhibitors. The public can attend the trade show at no cost. For $5, Expo attendees can take advantage of an on-site lunch and sit in on one of two in-
Presented By:
in business
2015 BUSINESS EXPO featuring
TASTE OF CONWAY DATE: Thursday, October 15
THE SETTING: Does finding new customers feel like detective work?
Conway Expo Center & Fairgrounds
At Business Expo, promote your business and gain a competitive advantage while developing new relationships with other professionals. TO REGISTER OR FOR MORE INFO: ConwayChamber.org | 501.327.7788
REGISTRATION DEADLINE: WEDNESDAY, SEPTEMBER 30
formative presentations. This year’s theme is “Solving Mysteries in Business.” The Chamber encourages participating businesses to incorporate a mystery or detective theme into their exhibits.
Taste of Conway
Taste of Conway gives the community the chance to sample some of the best food Conway has to offer. The event takes place from 5-7 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. Admission is $15, and tickets can be purchased online at ConwayChamber.org. Sponsorships and booth space are available for the 2015 Business Expo and Taste of Conway. Booth space begins at $300 for Chambermember businesses and $500 for nonmembers. Contact the Chamber at 501-327-7788 or visit ConwayChamber.org to learn more about sponsorship and exhibition opportunities.
4D — Sunday, August 9, 2015
Faulkner County Business Journal
To subscribe call (501) 329-2927 • Log Cabin Democrat
Covington Companies expands to commercial real estate Addition of fifth enterprise results in turnkey commercial property management Covington Companies – the collective name of four, four-generation, family-owned businesses – has added a fifth enterprise to further its goal of preserving and enhancing Conway’s commercial landscape. Effective July 31, 2015, Covington Real Estate Group joined Covington Roofing, Covington Properties, Covington Construction, and Covington Classic Auto Sales in the family enterprise. George Covington Sr. is at the helm of Covington Companies. His three children – Stephanie, George Jr. and Jason – have partnered to launch Covington Real Estate Group. The Covington family established Covington Real Estate Group in response to requests to manage commercial buildings for property owners. The family name recognition that comes with more than 90 years in business puts Covington Properties top-of-mind for those seeking retail, office, warehouse or industrial space. They currently have 1.4 million square feet of lease space within over 70 buildings and more than 150 tenants. “Our family has been in business in Conway since 1923, and we started buying, renovating and leasing out our own property in the early 1980s when Covington Properties was formed. Our extensive history with property management has resulted in a large number of people coming to us asking our company to manage their property for them,” said Stephanie Covington, principal broker of Covington Real Estate Group. Without a licensed broker or a formal real estate company, however, Covington Properties could only recommend rental properties it owned. The family saw an opportunity, and Steph-
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Completed Covington-owned property off Dave Ward Drive.
anie secured a broker’s license in commercial real estate. George Covington Sr. said the addition of Covington Real Estate Group was a logical next step for the full-service commercial property management company. “With our construction, roofing and property management background, we can consult with the property owner about improvements and changes to their building to help lease it,” said Jason Covington. “To prospective tenants, we can advise and price the remodel of a building for them to lease.” “We are going to concentrate on using local contractors for repair and maintenance of the properties,” said George Covington Jr. “Because we are based right here in Conway, we can take care of things more quickly than some of the big-
ger companies that are based in Little Rock and elsewhere,” he added. “We’re pretty excited,” Stephanie said. “People have been calling us for a long time to try to get us to lease their buildings for them. Now we’ll be able to.” Even though Covington Companies has expanded its services to include commercial real estate management for buildings it does not own, it is still in the business of buying and selling property. In the past year, Covington Properties has purchased approximately 125 acres of vacant land near IC Corporation on Dave Ward Drive, which is now under development. “We didn’t buy the plant; we bought the land beside IC Corporation where the company used to park buses,” said George Covington Sr. “We now own some of the empty lots on both sides of
the road.” The purchase includes about 25 acres on the north side of Dave Ward Drive and 100 acres on the south side. The company has plans to subdivide and sell the 1,500 frontage feet on both sides of the highway into commercial lots that could house a motel, restaurants or any other commercial space. Mr. Covington Sr. is chairman of Covington Companies. George Covington Jr. is president of Covington Roofing & Sheet Metal, Jason Covington is president of Covington Construction & Equipment and manages Covington Properties, and Stephanie Covington is principal broker at Covington Real Estate Group and president of Covington Classic Auto Sales. To learn more about Covington Companies, visit CovingtonCompanies.net or call 501-329-3357.
6D — Sunday, August 9, 2015
Faulkner County Business Journal
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Metova, Inc. announces 100 new Arkansas job opportunities Leading App Development Company Offers a Unique Work Culture Bringing Innovative Technology Jobs to Arkansas Metova, Inc., an emerging technology company creating world-class apps along with strategy, design, development and marketing for companies including Yelp, Dropbox, eHarmony, Flixster and Microsoft, announced today 100 new job opportunities in downtown Conway, Arkansas. The company is expanding to meet the demands of the rapidly growing mobile, web and IoT (Internet of
Things) space, and due to significant new business in the digital media industry. Metova opened their offices in January of 2015 in a grand opening ceremony with an announcement by Governor Asa Hutchinson as well as Conway Mayor, Tab Townsell. Metova initially projected the creation of over 60 jobs, but due to growth and innovation creating new opportunities in the marketplace, Metova is now hiring an additional 100 positions – nearly tripling the initial projection. Metova is seeking developers with strengths in Ruby on Rails, Java web and mobile app development, as well as talented UX and UI designers. “The fact Metova is announcing a second expansion in 2015 is a testament to the importance of our new computer coding initiative in Arkansas schools,” said Governor Hutchinson. “When we nurture technology
companies like Metova, they create job opportunities that keep Arkansas’s brightest minds in the state. Conway has developed a reputation as a hub for knowledge-based companies and that reputation continues to grow as a result of today’s announcement.” “We are looking for developers who are excellent problem solvers with superior communication skills to work in our unique culture while enjoying the quality of life Conway offers,” said John Adams, CEO of Metova, Inc. “Our business is thriving and we’re proud to offer a total of 160 cutting-edge opportunities to developers – right here in Arkansas.” In addition, Metova is announcing the hiring of Ed Horton, a 20+ year technology veteran in marketing and business development. Formerly Chief Marketing Officer
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and Senior Vice President of Business Development for Acxiom and Vestcom, Mr. Horton will support the growth of Metova’s commercial business. Those seeking employment can begin the process by visiting http://metova.com/jobs/ or by emailing their resume to jobs@metova.com. Metova, Inc. is a leading emerging tech company creating world-class apps along with strategy, design, development and marketing for customers ranging from Fortune 500 companies to startups. Metova provides solutions for the Department of Defense, Dropbox, Yelp, Microsoft, eHarmony and many more. Founded in 2006 in Franklin, TN, Metova has expanded to also include locations in Washington, D.C., Augusta, GA, Cabot, AR, Conway, AR and Seattle, WA. Visit Metova on the web at http://www.Metova.com.
Chamber resource guide adopts more ‘targeted and digital’ approach
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Re-locators, pre-locators, small business owners and high-income households are the recipe for success for Conway area businesses. At least Jamie Gates, Sr. Vice President of the Conway Area Chamber of Commerce, thinks so: “By identifying households that are seeking new business relationships or households with high incomes, we can help businesses increase their profits.” The Conway Area Chamber does this through the publication and unique distribution strategy of their annual resource guide for Conway residents new and old. The guide serves as the Chamber’s quality of life publication and local reference guide. The guide is a high-quality piece that features useful, locally written, information for new residents and advertisements from businesses within Conway’s trade area. The 80+ page publication will be mailed to every household of a qualifying income relocating within Conway’s traditional trade area. It is also mailed to new residents quarterly. Gates said that contacting recently relocated families as quickly as possible should be a priority for any
DIGITAL < 7D
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Sunday, August 9, 2015 — 7D
Faulkner County Business Journal
EconomyGlance Conway Economy At a Glance By Roger Lewis Pulse of Conway Unemployment Rate June 2015 Seasonally Adjusted US 5.3% Arkansas 5.7% Not Seasonally Adjusted US Arkansas Faulkner County Conway
5.5% 5.6% 5.2% 4.9%
Sales Tax Collections Conway* May 1 2015 $1,899,776 2014 2,122,610 Percent Change-10.5% Year to Date (May) 2015 $9,482,284 2014 $9,345,913 Percent Change 1.5% Annual 2014 $23,416,628 2013 23,235,891 2012 22,944,163 Percent Change2013 -140.8% *Tax Rate 1.75%
Faulkner County* drink sales May 1 2015 $705,022 Hotel Sales 2014 781,785 May Percent Change -9.8% 2015 $1,704,038 2014 2,239,424 Year to Date (April) Percent Change -23.9% 2015 $3,516,676 2014 $3,487,261 Year to Date (May) Percent Change 0.8% 2015 $7,516,414 2014 8,191,705 Annual Percent Change-8.2% 2014 $8,774,109 2013 8,588,835 Annual Sales 2012 8,465,686 2014 $19,336,169 Percent 2013 18,559,308 Change2013 -142.3% 2012 18,683,677 *Tax Rate 0.5% Percent Change2013 – 1 Paid to City and 2014 4.2% County in June Conway Building Restaurant Sales* Permits May Single Family 2015 $16,001,405 Homes 2014 15,585,355 Year to Date (July) Percent Change 2.7% 2015 104 Permits 2014 73 Permits Year to Date (May) Percent Change42.5% 2015 $60,850,878 2014 57,066,606 Annual Percent Change 6.6% 2014 119 permits 2013 147 Permits Annual Sales 2012 186 Permits 2014 $176,205,965 2011 153 Permits 2013 164,519,369 Percent Change2013 – 2012 161,318,563 2014 -19.0% Percent Change 2013 147.1% Average Square *Including mixed Footage*
DIGITAL from 6D business. “Research tells us that relocating families’ spending may increase seven fold their first six months in a home. They also establish dozens of permanent business relationships such as health care and finance professionals. It is a critical time to gain their attention.” Gates said that an equally important, but difficult to find, demograph-
ic is the “pre-locator.” “A pre-locator is someone who contacts the Chamber before they ever come to Conway. It may be a move they make or their own, or we may be working with a local business to help with transition.” Gates says that what makes these valuable households difficult to discover is that they haven’t officially made a move that would show up in any traditional marketing lists. “Pre-locators would be impossible for small businesses to identify on their own. These are
Year to date (July) 2015 2,923 2014 2,901 Percent Change 0.8% Annual 2014 2,929 2013 3,002 2012 2,910 2011 2,814 Percent Change20132014 -2.4% * Total under roof Average Construction Cost* Year to Date (July) 2015 $244,292 2014 $224,022 Percent Change 9.0%
Percent Change8.2% Annual 2014 $75.22 2013 76.04 2012 71.33 2011 72.64 Percent Change 2013 – 2014 -1.1% *Not including lat or lot improvements total under roof Lottery Sales Faulkner County Year to Date (July) 2015 $8,642,795 2014 8,659,105 Percent Change -0.2%
Natural Gas Severance Tax Distribution Conway Year to Date (July) 2015 $182,176 2014 208,594 Percent Change-12.7% Annual 2014 $363,837 2013 276,523 2012 162,523 Percent Change2013 2014 31.6% Faulkner County Year to Date-(July) 2015 $148,359 2014 169,829 Percent Change-12.6%
Annual 2014 $14,193,204 Annual 2013 17,038,277 2014 $220,311 2012 16,943,909 Annual 2013 228,275 Percent Change2013 2014 $296,411 2012 207,537 2014 -16.7% 2013 224,455 2011 204,387 2012 131,418 Percent Change2013 – Total State Percent Change 2013 2014 -3.5% Year to Date (July) – 2014 32.1% *Not including lat or 2015 $250,705,161 lot improvements 2014 42,573,271 Information provided Percent Change 3.4% by Roger Lewis Average Construction Annual Cost Per 2014 $401,251,365 Square Foot* 2013 432,932,798 Year to Date (July) 2012 452,245,217 2015 $83.58 Percent Change2013 2014 $77.22 2014 -7.3%
names that we get by taking the phone calls at the Chamber or by partnering with local industry. We fulfill hundreds of requests each year from prospective residents.” The resource guide will be mailed regionally to high-income households, not only in Conway but in areas that rely on Conway for goods and services. More than 2,500 copies will be sent to the area’s highest income households. The guide will also be distributed in local hotels and broadcast digitally. “We
had a great response last year promoting the guide online,” said Gates. “We will grow that this year in ways that target consumers of all types throughout the year.” The Conway Resource Guide will be published in November. Any business is allowed to advertise in the Conway Resource Guide. To get more information about how your business may benefit from advertising call the chamber at 501.327.7788 or email GetSmart@ ConwayArkanasas.org.