2018-07 North Metro Business Journal

NORTH METRO

JULY 2018

BUSINESS JOURNAL

CHICAGO, featuring Terra C. MacLeod as Velma Kelly, will show at Reynolds Performance Hall Oct. 27-28.

The performance is presented by the Log Cabin Democrat.

Story on Page 6 Photo by Paul Kolnik.

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Conway Area Chamber Named Finalist for Award CONWAY, ARKANSAS (June 14, 2018) — The Conway Area Chamber of Commerce has been named a finalist for the 2018 Chamber of the Year award, presented by the Association of Chamber of Commerce Executives.

The award is the most prestigious and competitive recognition presented annually

by ACCE. Based in Alexandria, Virginia, ACCE is an association of more than 8,000 professionals from 1,300 chambers of commerce, including 93 of the top 100 U.S. metro The Chamber of the Year award recognizes the leadership role chambers have in their communities. Those honored with the Chamber of the Year designation have demonstrated organizational strength and made an impact on key community priorities, such as education, transportation, business development and quality of life.

The Conway Area Chamber of Commerce received the Chamber of the Year designation in 2013.

Chamber of the Year winners will be announced at the 2018 ACCE Annual Convention in Des Moines, Iowa.

Chambers of commerce interested in competing for the award first must qualify by participating in a vigorous multistage process. Organizations entering the Chamber of the Year competition must

This year’s competition drew numerous entries from chambers throughout the U.S and Canada.

To ensure the fairest competition, applicants are grouped into five categories based on annual revenue, membership, area population and other factors.

meet minimum thresholds in at least three of five key performance areas, including net revenue and assets, membership account retention, and membership dollar retention.

Qualifying for Chamber of the Year is a rigorous process. Chambers compete based on meeting key performance criteria on the ACCE Annual Operations Survey.

Qualifying chambers enter the competition with a written application addressing all aspects of organizational operation and programmatic work. Applications are scored by peer chamber executives to determine finalists. Winners are selected from among finalists based on an in-person interview before a panel of experienced chamber professionals.

About the Association of Chamber of Commerce Executives The Association of Chamber of Commerce Executives, founded in 1914, serves more than 8,000 professionals who lead chambers of commerce. The mission of the Alexandria, Virginia-based organization is to support and develop chamber professionals to lead businesses and their communities.

Learn more about us by visiting www.

ACCE.org.

About the Conway Development Corporation For more than 125 years, the Conway Area Chamber of Commerce has served as the voice of the Conway, Arkansas, business community. It represents the interests of its 1,400 members by promoting economic development in Conway and Faulkner County, advocating a pro-business climate at all levels of government, supporting the county’s educational institutions, and establishing and executing a vision for the community. To learn more about the Conway Area Chamber of Commerce, visit ConwayChamber.org.

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JULY 2018

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First land sale announced for Central Landing development Fountaine Bleau Properties to build $70 million luxury apartments at mixed-use development CONWAY, Ark. – The first project at the invested more than $15 million in related Zones program provides a tax incentive for Central Landing development on the site of transportation infrastructure. Conway investors to re-invest their unrealized capital the former Conway airport will break ground Mayor Bart Castleberry said that the gains into business activities taking place this summer. Central Arkansas developer announcement was a positive sign of things within the zone. and Burkhalter Technologies Inc. CEO John to come. “The 6th Street overpass, Central “The Opportunity Zone designation is Burkhalter announced plans to going to attract investment build a $70 million development into Conway from around that incorporates 339 luxury Arkansas and beyond,” apartments into 18.7 acres of said Gates. “It’s a great the mixed-use development. economic development tool “Conway’s economy is strong for the community and a great and growing. We believe the opportunity for investors.”

Conway area market is ready for an upscale apartment home About Fountaine Bleu community that provides Fountaine Bleau is an the amenities, services, Arkansas-owned, $170 and standard of living that million leading multi-family professionals can expect from a development company that Fountaine Bleau property,” said builds, manages, and owns Burkhalter. Central Landing is a luxury apartment home perfect location for this style of communities. It is a dynamic luxury apartment home living. and growing company We look forward to being a part specializing in high-end, of this vibrant and engaging modern apartment homes Burkhalter Technologies Inc. CEO John Burkhalter and his family stand on the future site of the $70 million community.” that are resident-focused Fountain Bleau luxury apartments.

The Central Landing and fosters an upscale, development is a more than 150-acre Landing Boulevard, and the extension of welcoming, and comfortable community redevelopment of Conway’s former airport Bruce Street are already changing the way lifestyle. Fountaine Bleau luxury properties site. In December of 2017, the Conway people move around the city. Today’s are currently located in central Arkansas.

Development Corporation purchased the announcement shows that those projects site from the city of Conway. “Since closing also change the way our city develops.”

About the Conway Development on the Central Landing property earlier On June 15, the IRS and the Department Corporation this year, we’ve been balancing an urgency of Treasury confirmed the Central Landing Organized in 1959, the Conway Development to develop with a desire to develop well,” development and surrounding census tract Corporation attracts jobs, retains businesses, said Jamie Gates, executive vice president as an “Opportunity Zone.” Opportunity and generates economic development in of the Conway Development Corporation.

Zones are a new community development Conway and Faulkner County. The CDC “Today’s announcement accomplishes program established by Congress in the invests time, energy, and resources to bring both goals by bringing luxury housing and Tax Cuts and Jobs Act of 2017 to encourage about strategic, long-term progress that economic firepower to the project.” strategic long-term investments that benefits the entire community.

Since relocating the airport, the city has benefit the community. The Opportunity

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JULY 2018

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REYNOLDS PERFORMANCE HALL ANNOUNCES 2018-19 SEASON CONWAY — Kicking off with a community.”

• SOMETHING ROTTEN, Jan. 23, 7:30 p.m. performance Sept. 20 by blues legend Buddy The season includes: • Kinky Boots, Feb. 4, 7:30 p.m., presented Guy, and two performances of the musical

by WINC magazine CHICAGO, Reynolds Performance Hall will Broadway Series feature 22 events for the 2018-19 season at • CHICAGO, Oct. 27, 7:30 p.m. and Oct. Pops Series the University of Central Arkansas.

28., 2 p.m., presented by the Log Cabin • Buddy Guy, Sept. 20, 7:30 p.m., The season will include Broadway, Pops Democrat presented by the Arkansas Times and Night Out Series, two Distinguished • Rat Pack Christmas, Dec. 1, 7:30 p.m., • The TEN Tenors, Nov. 13, 7:30 p.m.

Lectures and one Add-On Special, as well presented by My Country Y107.1 • Travis Tritt, Jan. 26, 7:30 p.m., presented as six Main Stage

by My Country EdUCAtion shows Y107.1 and a benefit • Dailey & performance for Vincent, April 14, Main Stage.

7:30 p.m.

“We are honored to host some iconic Night Out Series entertainers next • The New Chinese season, including Acrobats, Oct. 21, blues phenomenon 7:30 p.m., presented Buddy Guy, Emmyby 501 Life Magazine Grammy-Oscar• We Shall Tony award-winner Overcome, Feb. 11, Rita Moreno, and 7:30 p.m., presented legendary football by the UCA College coach Lou Holtz,” of Fine Arts and said Amanda Communication Horton, Director of • Steel Magnolias, Reynolds. “Another Feb. 22, 7:30 p.m. thrilling aspect is • Currents, April 1, our Broadway line7:30 p.m., presented up that includes by the Log Cabin Kinky Boots and Democrat CHICAGO, both which won multiple Distinguished Tony awards. We Lectures are proud to provide • Rita Moreno performing arts that Oct. 23, 7:30 entertain, inspire p.m., presented and provide cultural by the Conway enrichment to the Area Chamber of Coming to Reynolds on Oct. 30, Diary of a Worm, a Spider, and a Fly is the first performance in the 2018-2019 Main Stage EdUCAtion Series. central Arkansas Commerce Minority

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Enterprise Development Awards • Lou Holtz, March 7, 7:30 p.m., presented by 501 Life Magazine Add-on Special • Rock of Ages, March 4, 7:30 p.m., presented by Conway Printing Main Stage EdUCAtion • Diary of a Worm, a Spider, & a Fly, Oct. 30, 10 a.m. and 12:30 p.m.

• The Science of Magic with Bill Blagg, Nov. 12, 10 a.m. and 12:30 p.m.

• Junie B. Jones in Jingle Bells Batman Smells, Dec. 18, 6 p.m. (public performance), and Dec. 19, 10 a.m. and 12:30 p.m.

• Freedom Bound, Jan. 28, 10 a.m. and 12:30 p.m.

• Pete the Cat, March 15, 10 a.m., 12:30 p.m., and 6 p.m. (public performance) • Erth’s Prehistoric Aquarium Adventure, April 28, 6 p.m. (public performance), and April 29, 10 a.m. and 12:30 p.m.

The Main Stage EdUCAtion series, aimed at Arkansas school districts, debuted in 2015-16 and serves children in pre-K through 12th grade. The series presents six performances that both complement school curriculum and introduce students to live theatre. These shows are performed by national touring artists.

Horton said the goal of the Main Stage EdUCAtion series is to expand access to the arts for kindergarten through 12th-grade students.

“The Main Stage EdUCAtion Series continued to grow in its third season with 10,000 students, teachers and parents served,” she said. “We had school groups attend from across Arkansas, including Mountain View, Little Rock, Searcy, Cabot and Conway.”

Teachers are provided study guides and educational resources that they can

NORTH METRO BUSINESS JOURNAL

incorporate into classroom learning before the performance. Tickets to Main Stage performances are only $5 per student.

Free tickets are available for students who need assistance, thanks to new funding mechanisms through fundraisers, grants and benefit performances.

“Our goal is to provide access to the arts for all children in our community, regardless

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what to expect during a live performance – from the facility to the volunteers to the applause during and at the end of the show.

“These tools introduce children to the experience of live theatre in advance of the show, thus making their actual trip to Reynolds filled with less anxiety and more excitement,” Horton said.

Reynolds is also hosting two benefit performances to support Main Stage EdUCAtion. All revenue from the following performances will go toward the program: Benefits for Main Stage EdUCAtion • Ballet Arkansas presents Dracula, Oct. 14, 7:30 p.m.

• Celtic Angels Christmas, Dec. 12, 7:30 p.m.

Subscriptions for the 2018-2019 season are currently on sale. Subscriber Courtesy Week, when those who bought packages for the season may purchase individual tickets to any show before they open to the general public, will be July 30-Aug. 3. Single tickets of their socioeconomic status or learning will go on sale to the general public Monday, ability,” Horton said. “We have worked Aug. 6. to raise additional funding to provide free To purchase a new subscription package, tickets for those in need.” call 501-450-3265 between 10 a.m. and 4 During the 2018 UCA Day of Giving, a p.m., Monday through Friday. Individual 24-hour drive that took place in March, tickets may be purchased in person at the Reynolds established a fund that enables box office, online at uca.edu/reynolds, or by students from low-income households to calling 501-450-3265 beginning Aug. 6. attend a Main Stage EdUCAtion performance Individual series prices range from $90at no cost. $130; Performing Arts Package (all three Reynolds also received a Giving Tree Grant series) range from $245-$380; individual from Arkansas Community Foundation that tickets for all shows except lectures are $30will send 200 students from the community $40; lectures are $15. A “Pick Six”, buildto a production. Another grant from the your-own package is available to donors of Mid-America Arts Alliance provides free $100 or more. tickets to students and funded a master class For more information, contact Horton at for children interested in theatre. It also 501-450-3682 or ahorton@uca.edu. Details provided funding for Reynolds staff to create about all the upcoming performances as well a “social story” to prepare young students as information about Reynolds Performance and students with learning disabilities for Hall can be found at www.uca.edu/reynolds.

North Metro Economy at a Glance Population US ..........................325,719,178 Arkansas .....................3,004,279 Conway ...........................65,782 Cleburne County...............25,048 Conway County................20,916 Faulkner County.............123,654 Perry County....................10,348 Van Buren County.............16,506 Unemployment Rate April-2018 Seasonally Adjusted US ..................................... 3.9% Arkansas ............................ 3.8% Not Seasonally Adjusted US ..................................... 3.7% Arkansas............................ 3.4% Conway.............................. 2.9% Cleburne County ................ 4.3% Conway County ................. 4.1% Faulkner County ................ 3.0% Perry County ...................... 3.9% Van Buren County .............. 5.0% Sales Tax Collections June Conway 2018..........................$2,549,113 2017..........................$1,990,627 Percent Change.............. 28.06% Tax Rate ....................... 2.125%* *Sales tax rate increase of 0.375%

Cleburne County 2018.............................$479,398 2017.............................$441,258 Percent Change................ 8.64% Tax Rate ......................... 1.625%

Conway County 2018.............................$427,717 2017.............................$423,215 Percent Change................ 1.06% Tax Rate ........................... 1.75% Faulkner County 2018.............................$778,183 2017.............................$736,089 Percent Change................ 5.72% Tax Rate ........................... 0.50% Perry County 2018.............................$128,624 2017.............................$117,969 Percent Change................ 9.03% Tax Rate ........................... 2.50% Van Buren County 2018.............................$309,448 2017.............................$312,169 Percent Change...............-0.87% Tax Rate ........................... 2.00% Restaurant Sales* Year to Date (May) Conway 2018........................$81,708,857 2017........................$81,765,590 Percent Change...............-0.07% *Includes mixed drink sales

Hotel Sales Year to Date (May) Conway 2018..........................$7,138,824 2017..........................$6,778,046 Percent Change................ 5.32%

Bank Deposits June-30 Cleburne County 2017........................$524,244.00 2016........................$513,251.00 Percent Change ............... 2.14%

Residential Building Permits Year to Date (May) Conway 2018........................................67 2017........................................62 Percent Change................ 8.06%

Values of Residential Units Sold Year to Date (May) Conway 2018........................$59,004,887 2017........................$82,740,730 Percent Change ............-28.69%

Conway County 2017........................$382,665.00 2016........................$387,785.00 Percent Change ..............-1.32%

Residential Units Sold (New and Existing) Year to Date (May) Conway 2018......................................333 2017......................................468 Percent Change ............-28.85%

Cleburne County 2018........................$29,403,840 2017........................$24,586,716 Percent Change ............. 19.59%

Faulkner County 2017.....................$2,052,122.00 2016.....................$1,855,340.00 Percent Change ............. 10.61% Perry County 2017..........................$71,596.00 2016..........................$72,391.00 Percent Change ..............-1.10% Van Buren County 2017........................$277,646.00 2016........................$285,875.00 Percent Change ..............-2.88% Commercial Building Permits Year to Date (May) Conway 2018..........................................6 2017........................................12 Percent Change.............-50.00%

Cleburne County 2018......................................160 2017......................................154 Percent Change ............... 3.90% Conway County 2018........................................49 2017........................................55 Percent Change ............-10.91% Faulkner County 2018......................................646 2017......................................697 Percent Change ............ --7.32% Perry County 2018........................................30 2017........................................17 Percent Change ............. 76.47% Van Buren County 2018........................................97 2017........................................87 Percent Change ............. 11.49%

Conway County 2018..........................$5,465,313 2017..........................$5,053,565 Percent Change ............... 8.15% Faulkner County 2018......................$112,349,090 2017......................$117,726,785 Percent Change ..............-4.57% Perry County 2018..........................$4,289,670 2017..........................$1,815,277 Percent Change ........... 136.31% Van Buren County 2018..........................$9,671,482 2017..........................$8,248,644 Percent Change ............. 17.25% Average Price of Residential Units Sold Year to Date (May) Conway 2018.............................$177,192 2017.............................$176,796 Percent Change .................0.22%

Cleburne County 2018.............................$183,774 2017.............................$159,654 Percent Change ............. 15.11% Conway County 2018.............................$111,537 2017...............................$91,883 Percent Change ............. 21.39% Faulkner County 2018.............................$173,915 2017.............................$168,905 Percent Change ............... 2.97% Perry County 2018.............................$142,989 2017.............................$106,781 Percent Change ............. 33.91% Van Buren County 2018...............................$99,706 2017...............................$94,812 Percent Change ............... 5.16%

For more useful information go to: pulseofconway.com Sources: U.S. Census Bureau, Arkansas Department of Workforce Services, Arkansas Department of Finance & Administration, Federal Deposit Insurance Corporation, Arkansas Realtors Association, and Cooperative Arkansas Realtors MLS.

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JULY 2018

To subscribe call (501) 329-2927 • Log Cabin Democrat

Molex Announces New Arkansas Design Center

full suite of solutions and services for many class development labs for signal integrity, LISLE, IL – June 19, 2018 – Molex, mechanical reliability, test integration and markets, including data communications, a subsidiary of Koch Industries, has consumer electronics, industrial, medical, announced the opening of a new design electromagnetic capability (EMC) testing. automotive and commercial vehicle. For more “We extend an enthusiastic thank you center on June 11, 2018 in Conway, Arkansas. information, please visit www.molex.com. to Molex for choosing Conway. It’s the The center will employ more than 100 highest compliment a city can receive. This engineering and technical professionals to investment speaks to Conway and central Molex Resources: support growing demand for Molex high• Learn more about Molex: www.molex.com speed technology solutions used in data Arkansas’s quality of place and workforce.

• Follow us: www.twitter.com/ Innovators and entrepreneurs around the centers, cloud computing and 5G hardware molexconnectors country notice when companies like Molex applications.

• Watch our videos: www.youtube.com/ make site selection decisions,” said Brad Molex has been in the central Arkansas community for over 30 years. “We’re excited Lacy, president and CEO of the Conway Area molexconnectors • Connect with us: www.facebook.com/ Chamber of Commerce. to continue our investment in the area and molexconnectors In addition to the Arkansas design provide a new, modern workspace that will • Read our blog: www.connector.com give Molex greater capability and benefit our center, Molex will continue to operate a manufacturing facility located in Maumelle, talented employees,” said Chad Jameson, Molex is a registered trademark of Molex, AR. general manager, IO solutions, Molex.

LLC in the United States of America and may The center, previously in Maumelle, be registered in other countries; all other About Molex: will serve as a primary innovation hub to trademarks listed herein belong to their Molex brings together innovation and support Molex’s Data Center solutions.

Conway ranked fifth least expensive urban area in the U.S. respective owners. technology to deliver electronic solutions It will focus on new product design, high to customers worldwide. With a presence speed technology development, and Among the 263 urban areas that participated in the first quarter 2018 Cost of Living Index, in morecost than countries,and Molex offersstandard a prototyping. It will also include world-fifth for its after-tax Conway ranked for 40 a professional managerial of living.

Conway ranked fifth least expensive urban area in the U.S. The Cost of Living Index is published quarterly by C2ER – The Council for Community and Economic Research. The first quarter 2018 marks the 50th anniversary of the publication.

Among the 263 urban areas that participated in the first quarter 2018 Cost of Living Index, Conway ranked fifth for its after-tax cost for a professional and managerial standard of living.

The Cost of Living Index is published quarterly by C2ER – The Council for Community and Economic Research.

The first quarter 2018 marks the 50th anniversary of the publication.

The Ten Most and Least Expensive Urban Areas in the Cost of Living Index (COLI) First Quarter 2018 National Average for 263 Urban Areas = 100 Most Expensive

Least Expensive COL

Ranking Urban Areas

Index

COL Ranking Urban Areas

Index

1

New York (Manhattan), NY 245.4

1

Harlingen, TX

76.3

2

San Francisco, CA

195.7

2

McAllen, TX

77.3

3

Honolulu, HI

186.3

3

Memphis, TN

80.6

4

New York (Brooklyn), NY

179.4

4

Kalamazoo, MI

80.8

5

Washington, DC

161.8

5

Conway, AR

81.5

6

Seattle, WA

153.0

6

Wichita Falls, TX

81.7

7

Oakland, CA

151.3

7

Joplin, MO

81.8

8

New York (Queens), NY

149.6

8

Knoxville, TN

82.0

9

Arlington, VA

148.7

9

Hattiesburg, MS

82.5

10

Orange County, CA

148.5

10

Muskogee, OK

82.5

The Cost of Living Index measures regional differences in the cost of consumer goods and services, excluding taxes and non-consumer expenditures, for professional and managerial households in the top income quintile. It is based on more than 90,000 prices covering 60 different items for which prices are collected quarterly by chambers of commerce, economic development organizations, and university-applied economic centers in each participating urban area. Small differences should not be interpreted as showing a measurable difference.

The composite index is based on six component categories – housing, utilities, grocery items, transportation, health care, and miscellaneous goods and services.

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JULY 2018

Space available for 14th Annual Teacher Breakfast and Education Fair The Conway Area Chamber of Commerce is gearing up for its Teacher Breakfast and Education Fair, an event that welcomes teachers back to school and gives local businesses the opportunity to interact with hundreds of potential customers.

Conway Corporation is the presenting sponsor for the 14th annual exhibition, which will take place at the Conway High School cafeteria at 2300 Prince Street on Tuesday, Aug. 7.

The event, scheduled from 7-9 a.m., will include a complimentary breakfast, sponsored by Klaasmeyer Construction and Metova Federal. More than 100 local businesses will have booths set up to display their products and services, along with door prizes.

Teachers and staff from Conway Public Schools, Conway Christian Schools and St. Joseph Schools are all welcome to attend the event, providing an opportunity for educators to see what the vendors have to offer and for them to mingle with colleagues.

The Teacher Fair also gives participating businesses access to more than 500 educators who are primarily women, second-income earners, and the primary decision makers about health care and household purchases.

Businesses interested in attracting customers who fit this demographic can register at conwaychamber.org by Friday, July 20.

Table space is available for $300. Gold and platinum sponsorships – which include two tables and logo inclusion on select digital and printed materials – are available for $500 and $1,000, respectively.

Area Restaurants Invited to Participate in “Lunch Break” A new addition this year is “Lunch Break,” underwritten

by Sandstone Real Estate Group. Teachers will receive a wristband at the morning Teacher Fair event on Tuesday, Aug. 7, which will give them an all-day, 20 percent discount off their total bill at participating restaurants.

Restaurants that would like to be included in this promotion with Conway’s teachers should contact director of events Therese Williams at therese@conwayarkansas.org or 501932-5411 by Friday, July 13. All restaurants that are current members of the Conway Area Chamber of Commerce are eligible to participate. No registration fee is required.

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