NORTH METRO
JANUARY 2019
BUSINESS JOURNAL MORRILTON
CONWAY
Everybody wins
Regional approach aids economic development efforts
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Chamber’s 2019 Annual Meeting set for March Nominations open for awards; tickets, sponsorships available With more than 1,000 business and community leaders in attendance each year, Annual Meeting is the largest business event in Conway. The 2019 event, organized by the Conway Area Chamber of Commerce and presented by the University of Central Arkansas, is scheduled for March 14 at UCA’s HPER Center. Tickets and sponsorships are available now at conwaychamber.org. An awards ceremony recognizing individuals and businesses that have made a difference in Conway over the past year is one of the highlights of Annual Meeting. The Conway Area Chamber is accepting nominations for the following categories: The Guy W. Murphy Distinguished Service Award is the Chamber’s highest form of recognition. Established in 1957, this award is presented annually to an individual or group who has rendered special service for the benefit of the community. Candidates have demonstrated an active leadership role for the betterment of the community through their involvement in business, civic and social service organizations. Established in 1973, the Lloyd Westbrook Good Neighbor Award is presented annually to an individual who has given of his or her time and talents. Candidates are known for going beyond the call of duty to help others. The nominee shall exemplify
outstanding public service to the Conway area. The Business of the Year Award recognizes Conway Area Chamber of Commerce member businesses for their continued growth, innovation, and community involvement. It is presented in five categories: Outstanding Hospitality, Outstanding Nonprofit, Outstanding Retailer, Outstanding Large Employer, and Outstanding Small Business. The Business Executive of the Year Award recognizes the owner, executive, or president of a business who has displayed outstanding performance in either an individual or collaborative endeavor. The nominee is a driving force behind the company and works to maintain an enriched business climate and an enhanced quality of life in Conway. The Young Business Leader Award
recognizes a community business leader, age 40 or younger, who has helped create a more vibrant business and social environment for all of Conway’s residents. With the exception of the Distinguished Service and Good Neighbor awards, nominees must be members of the Conway Area Chamber of Commerce or work for a Chambermember business. Visit ConwayChamber.org to access the online nominations site. Those submitting nominations are encouraged to address specific examples of each nominee’s leadership, community service, personal and professional impact, work/life balance, perseverance, ethics, and success. A panel of Chamber executives outside the state of Arkansas will select the award recipients. The deadline to submit nominations is Friday, Jan. 25. Annual Meeting is a sellout event each year, so those who wish to attend are encouraged to reserve their space in advance. Individual tickets are $75, and tables and sponsorships begin at $1,000, both of which can be purchased online at conwaychamber.org. For additional details about Annual Meeting, contact Mary Margaret Satterfield, director of events and Toad Suck Daze, at Mary@ConwayArkansas.org or 501-932-5412.
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Centennial Bank Celebrates 20 Years of Banking CONWAY, Ark. – Centennial Bank (“Centennial”), a wholly-owned subsidiary of Home BancShares, Inc. (NASDAQ GS: HOMB) (“Home” or “the Company”), opened its doors 20 years ago this month in Conway, Arkansas, as First State Bank. Since that time, Home has completed 23 acquisitions reaching $15 billion in assets. In 2006, the Company completed an Initial Public Offering and began trading on the NASDAQ under the ticker symbol of “HOMB.” In 2009, the decision was made to consolidate their banking charters and rebrand their banking subsidiary as Centennial Bank. “We set out to start a small community bank for friends and family,” said John Allison, Chairman and Co-Founder. “We started out with about 12 employees, our ‘dirty dozen,’ most of whom are still with us today. Now, 20 years later, Centennial employs over 1,800 people in multiple states with over 430 employees in Conway and the surrounding area. We are very pleased to be one of Conway’s largest employers,” Allison continued. “We’ve gone from Main Street to Wall Street, and Centennial now serves over 100 communities, but we are proud to continue to call Conway, Arkansas, home,” Allison added. “The last 20 years have resulted in more growth and success than I would have
predicted in 1999. As we celebrate the last twenty years, I look forward to seeing what the future holds for Centennial Bank,” said Allison. General This release contains forward-looking statements regarding the Company’s plans, expectations, goals and outlook for the future. Statements in this press release that are not historical facts should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forwardlooking statements of this type speak only as of the date of this news release. By nature, forward-looking statements involve inherent risk and uncertainties. Various factors could cause actual results to differ materially from those contemplated by the forward-looking statements. These factors include, but are not limited to, the following: economic conditions, credit quality, interest rates, loan demand, the ability to
successfully integrate new acquisitions, increased regulatory requirements as a result of our exceeding $10 billion in total assets, legislative and regulatory changes, technological changes and cybersecurity risks, competition from other financial institutions, changes in the assumptions used in making the forward-looking statements, and other factors described in reports we file with the Securities and Exchange Commission (the “SEC”), including those factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2017 filed with the SEC on February 27, 2018. Home BancShares, Inc. is a bank holding company headquartered in Conway, Arkansas. Its wholly-owned subsidiary, Centennial Bank, provides a broad range of commercial and retail banking plus related financial services to businesses, real estate developers, investors, individuals and municipalities. Centennial Bank has branch locations in Arkansas, Florida, South Alabama and New York City. The Company’s common stock is traded through the NASDAQ Global Select Market under the symbol “HOMB.” FOR MORE INFORMATION CONTACT: Donna Townsell Director of Investor Relations Home BancShares, Inc. (501) 328-4625
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“Everybody wins” Regional approach sets table for economic growth
Conway, Maumelle and Morrilton are textbook cases for economic development. Although they have a healthy sense of competition, the cities benefit from each other in a “one-for-all, all-for-one” mentality to create a strong regional draw. Jamie Gates, executive vice president for the Conway Area Chamber of Commerce and Conway Development Corporation, said it’s a relationship that benefits all three. “When we’re working on attracting people to the region – Maumelle, Morrilton and Conway – they all have different strengths. We complement each other well,” he said. Conway is the largest of the three cities with a population of 65,000. Known as the City of Colleges, it’s home to the University of Central Arkansas, Hendrix College and Central Baptist College.
Students from Conway, Maumelle and Morrilton are among thousands who walk the campuses. Conway also has two hospitals: Conway Regional Health System, established in 1921, and Baptist Health Medical Center-Conway, which opened in 2016. Conway Regional in December announced a $40 million building project to start in 2019. Those entities alone pack a big economic punch. The Meadows and Office Technology Park, described by Chamber president Brad Lacy as “our sweet spot in the economicdevelopment world,” is home to top-tier companies. Those include DXC and Insight, both Fortune 500 technology companies, and Crafton Tull, an engineering, architecture and surveying firm. Conway is home to internationally known data company Acxiom;
home-grown Nabholz Corp., a national, multi-service contractor; and many others. A buzz has been building for years about Central Landing, a 150-acre mixed-use development on the site of Conway’s former airport. The first project is underway – construction of a luxury apartments complex on 18.7 acres of the property, a $70 million investment. Conway is already considered a shopping mecca for many in the region, with its mixture of big-box stores and locally owned boutiques. Lewis Crossing and Conway Commons shopping centers are booming. Economic development isn’t just brick and mortar; city leaders talk about quality of place. For example, visitors come to Conway during the holidays to see the 54-foot lighted Christmas tree in downtown, take a carriage
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ride and eat a meal. In the summer, they enjoy the new splash pad in Laurel Park or enjoy the state’s only Shakespeare festival, which makes UCA its home. Maumelle and Morrilton are making strides and strengthening the economic impact of the area, too. Gates said the University of Arkansas Community College at Morrilton’s $15 million Workforce Training Center, which opened in April 2018, “is an incredible asset to employers from around the region.” The biggest project in the college’s 55-year history, it offers technical training in a variety of areas. About half of UACCM’s 1,900-plus students commute from Faulkner County. Morrilton also is known for the beauty of nearby Petit Jean Mountain, which attracts residents and visitors alike, and the University of Arkansas System’s Winthrop Rockefeller Institute, which sits atop the mountain and hosts educational summits and offers collaborative experiences. Conway and Morrilton have the only two K-12 Catholic schools in Arkansas. Sacred Heart School in Morrilton made significant additions to its church and elementary school in the past year. The South Conway County School District in Morrilton opened the $11.3 million Devil Dog arena in 2017. Morrilton Mayor Allen Lipsmeyer pointed out that the top four employers in the city of 6,700 are longtime family-owned businesses: Green Bay Packaging-Arkansas Mill, Petit Jean Meats (the official meat of the Dallas Cowboys, no less), Koontz Electric and Wayne Smith Trucking. He said Conway’s and Maumelle’s success bolsters Morrilton’s value. “There are advantages to all three being strong,” Lipsmeyer said. “The bigger area we’ve got to pull a workforce from, the better that is. Regionalism is a big deal.” Judy Keller, director of community and economic development for Maumelle, said the city’s residents work in Conway and vice versa.
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“We do take a pretty big labor pool – so people from Conway, Vilonia and Greenbrier, and we have people from Searcy and Russellville who drive here every day – so it’s extremely regional.” Maumelle, population 17,163, is the newest of the three cities. The 5,000-acre planned community was developed in the 1970s as a “new hometown coming true” and was incorporated in 1985. Its residents are educated, too; right at half its population has a bachelor’s degree or higher. The city has two lakes, walking trails, an aquatic center and a recently expanded library. Keller said the city’s ever-expanding industrial park is “kind of amazing.” She ticked off the list of premier businesses – BEI Precision Systems & Space Co. Inc., Kimberly-Clark manufacturing facilities, Dillard’s distribution center and Molex. “When someone buys Huggies baby wipes anywhere in the world, they were made and packaged at Kimberly-Clark’s facility in Maumelle,” she said. “When someone orders from Dillard’s online, whether they’re in Japan or anywhere … it comes from Maumelle’s distribution center. A new Interstate 40 interchange for a third entrance/exit to the city has been approved, and officials said that could be a launching pad for commercial development. Keller said Maumelle is in the 12-county Metro Little Rock Alliance with Conway and Morrilton. The three cities shared a consultant for a day during a FAM, or familiarization tour. “From a workforce perspective, people have a choice of at least three different communities,” Gates said. “Someone coming from another part of the country may prefer living in one over the other. It always helps to give people choices. It’s good for us that they’re connected so conveniently with Interstate 40 and other infrastructure.” Lipsmeyer agreed. He said that when Morrilton lands a company, its employees are more than likely going to live in Conway.
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However, the first of a three-phase subdivision in Morrilton is nearing completion. The mayor said that although Morrilton doesn’t have a Target or Belk, “you can get in a car and be there in 15 minutes” at the Conway Commons shopping center. “It’s a draw for us to have that kind of retail close to us.” Lipsmeyer said he has a unique perspective, because before he moved to Morrilton, he lived in Conway and was a member of the Conway City Council. He has an affinity for the city and built lasting relationships. He said he talks to Conway Mayor Bart Castleberry regularly, and they’ve discussed ideas for partnerships. The Conway Development Corporation has partnered in the past with the Morrilton Area Chamber of Commerce and the Conway County Economic Development Corporation to work on mutually beneficial projects. Keller said she doesn’t hesitate to call Gates or Lacy when she needs help with a project or has a question. If a company is requesting information from Conway, Little Rock, Maumelle and Morrilton, Keller said the cities work together and divide the responsibility of filling out pages of documents. “If it’s a company coming to Arkansas, we all work on getting them here,” Keller said. “We use our resources to get them here.” Keller said a division of Molex recently left Maumelle and relocated to Conway to start a design center in a state-of-the-art building. She wasn’t thrilled, but she wasn’t devastated, either. “The state didn’t lose them, the region didn’t lose them,” she said. If Maumelle couldn’t have the company, Keller said she was happy it was Conway the company chose. She would have felt the same about Morrilton. “We’re really just an extension of each other,” she said. Everyone wins.
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Conway Regional CEO to headline year’s first CEO Luncheon Matt Troup, president and CEO of Conway Regional Health System, will be the guest speaker at the Conway Area Chamber of Commerce’s first CEO Luncheon of 2019. Held in the Mabee Building Dining Hall at Central Baptist College – the host sponsor for the 2019 series – the upcoming event will take place Thursday, Feb. 7, from 11:30 a.m. until 1 p.m. Troup began his role as president and CEO of Conway Regional in August 2015 as part of a five-year management agreement between Conway Regional and CHI St. Vincent in Little Rock where Troup had been serving as vice president of ancillary services. Prior to his leadership at CHI St. Vincent, Troup was chief operating officer Matt Troup, president and CEO of Conway Regional Health System
and site administrator at Holmes Regional Medical Center in Melbourne, Florida, providing strategic and operations oversight for the hospital and trauma center. With a health care career spanning more than 20 years, Troup has worked in Arkansas, Oklahoma, Texas, and Florida. He served as chief operating officer at Hillcrest Medical Center in Tulsa, Oklahoma, and held multiple roles at Texas Health Resources in Dallas. He was president of Texas Health Presbyterian of Winnsboro, vice president of operations for Texas Health Presbyterian in Dallas, and vice president for Methodist Health System in Dallas. Troup has a bachelor’s degree in business administration from Texas A&M University
in College Station. He obtained his master’s degree in health care administration from Trinity University in San Antonio. In 2017, Troup received the Administrator of the Year Award at the Conway Area Chamber of Commerce’s inaugural North Metro Healthcare Awards. He is a Fellow in the American College of Healthcare Executives and has a Six Sigma Green Belt. He and his wife, Melissa, have four boys. Tickets to the CEO Luncheon are available for $25 and can be purchased online at ConwayChamber.org or by contacting director of events Therese Williams at threse@conwayarkansas.org or 501-9325411.
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 November-2018 Seasonally Adjusted US ..................................... 3.7% Arkansas ............................ 3.6% Not Seasonally Adjusted US ..................................... 3.5% Arkansas............................ 3.3% Conway.............................. 2.8% Cleburne County ................ 4.0% Conway County ................. 4.0% Faulkner County ................ 2.9% Perry County ...................... 4.0% Van Buren County .............. 4.8% Bank Deposits June Conway County 2018...........................$1,827,728 2017...........................$1,686,727 Percent Change ............... 8.36% Cleburne County 2018..............................$554,248 2017..............................$524,244 Percent Change ............... 5.72%
Conway County 2018..............................$358,473 2017..............................$382,665 Percent Change ..............-6.32% Faulkner County 2018...........................$2,192,595 2017...........................$2,052,122 Percent Change ............... 6.85% Perry County 2018................................$72,986 2017................................$71,596 Percent Change ............... 1.94% Van Buren County 2018..............................$276,171 2017..............................$277,646 Percent Change ..............-0.53%
Faulkner County 2018.............................$800,327 2017.............................$755,656 Percent Change................ 5.91% Tax Rate ........................... 0.50% Perry County 2018.............................$144,759 2017.............................$136,159 Percent Change................ 6.32% Tax Rate ........................... 2.50% Van Buren County 2018.............................$402,263 2017.............................$359,532 Percent Change.............. 11.89% Tax Rate ........................... 2.00%
Restaurant Sales* Year to Date (October) Sales & Use Tax Collections Conway December 2018......................$165,166,550 Conway 2017......................$154,897,821 2018..........................$2,616,136 Percent Change................ 6.63% 2017..........................$2,020,096 *Includes mixed drink sales Percent Change.............. 29.51% Tax Rate ......................... 2.125% Hotel Sales Year to Date (October) Cleburne County Conway 2018.............................$489,897 2018........................$15,321,355 2017.............................$456,034 2017........................$15,595,555 Percent Change................ 7.43% Percent Change...............-1.76% Tax Rate ........................... 1.63% Residential Building Conway County Permits 2018.............................$451,938 Year to Date (December) 2017.............................$446,985 Conway Percent Change................ 1.11% 2018......................................202 Tax Rate ........................... 1.75% 2017......................................143 Percent Change.............. 41.26%
Residential Units Sold (New and Existing) Year to Date (December) Conway 2018......................................810 2017....................................1091 Percent Change ............-25.76%
Percent Change ............-25.35% Year to Date (September) Cleburne County 2018........................$69,271,160 2017........................$52,250,810 Percent Change ............. 32.57%
Conway County 2018.............................$113,833 2017...............................$95,206 Percent Change ............. 19.56%
Year to Date (September) Cleburne County 2018......................................365 2017......................................310 Percent Change ............. 17.74%
Conway County 2018........................$11,838,632 2017..........................$9,139,776 Percent Change ............. 29.53%
Faulkner County 2018.............................$176,282 2017.............................$173,897 Percent Change................ 1.37%
Faulkner County 2018......................$228,461,472 2017......................$239,977,860 Percent Change ..............-4.80%
Perry County 2018.............................$130,511 2017.............................$109,654 Percent Change ............. 19.02%
Perry County 2018..........................$5,872,995 2017..........................$4,386,160 Percent Change ............. 33.90%
Van Buren County 2018...............................$97,255 2017...............................$96,994 Percent Change ............... 0.27%
Conway County 2018......................................104 2017........................................96 Percent Change ............... 8.33% Faulkner County 2018....................................1296 2017....................................1380 Percent Change ..............-6.09% Perry County 2018........................................45 2017........................................40 Percent Change ............. 12.50% Van Buren County 2018......................................141 2017......................................190 Percent Change ............-25.79% Values of Residential Units Sold Year to Date (December) Conway 2018......................$146,672,315 2017......................$196,484,097
2017.............................$168,551 Percent Change ............. 12.60%
Van Buren County 2018........................$17,894,264 2017........................$18,428,860 Percent Change ..............-2.90% Average Price of Residential Units Sold (New and Existing) Year to Date (December) Conway 2018.............................$181,077 2017.............................$180,095 Percent Change .................0.55% Year to Date (September) Cleburne County 2018.............................$189,784
Proud sponsor of Pulse of Conway Sources: 2012-2016 ACS 5-Year Data Profiles, Arkansas Department of Workforce Services, C2ER, Sperling’s Best Places, Arkansas Department of Finance & Administration, Federal Deposit Insurance Corporation, Cooperative Arkansas Realtors’ Multiple Listing Services, Arkansas Realtors Association, and City of Conway.
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Honorees named for third annual healthcare awards Doctors, nurses, hospital administrators and other medical professionals will be front and center at an awards luncheon focused on the healthcare industry. Organized by the Conway Area Chamber of Commerce and underwritten by the University of Central Arkansas, the North Metro Healthcare Awards will take place Thursday, Feb. 28, 2019 from 11:30 a.m. to 1 p.m. The third annual event honors individuals who are making an impact on the overall health of the community they serve and companies that are dedicated to the health and wellness of their employees. The Chamber accepted nominations for each of the five award categories in late 2018. From the nominees, a panel of healthcare executives from across the country selected the following award recipients:
• Physician of the Year: Dr. Michael Wood, Renaissance Women’s Center; and
• Administrator of the Year: James Reed, Conway Regional Health System;
• Workplace Place Wellness Award: Baptist Health Medical Center – Conway.
• Healthcare Professional of the Year: Christina Hall, Community Service Inc.;
In addition to the awards ceremony, the North Metro Healthcare Awards will feature Dr. Chad Rodgers of the Little Rock Pediatric Clinic as this year’s keynote speaker. A Little Rock native, Dr. Rodgers has
• Nurse of the Year: Greta Morgan, Baptist Health Medical Center – Conway;
been at Little Rock Pediatric Clinic since 2002. He attended Baylor University and then returned to the University of Arkansas for Medical Sciences for medical school. He completed his pediatric residency training at Arkansas Children’s Hospital, where he served as chief resident. Dr. Rodgers has a strong interest in preventive care, health literacy, and child advocacy. He serves as president of the Arkansas chapter of the American Academy of Pediatrics and secretary to the board of directors of the Arkansas Medical Society. Dr. Rodgers is the co-founder of Reach Out and Read Arkansas and serves on its board, as well as on the board of Arkansas Advocates for Children and Families. He also serves as chief medical officer for the Arkansas Foundation for Medical Care. He is the 2015 recipient of Arkansas Children’s Hospital’s Dr. Tom Ed Townsend Award. To reserve a table at the North Metro Healthcare Awards, visit the Conway Area Chamber of Commerce’s website at conwaychamber.org. For additional details or questions about the event, contact director of events Therese Williams at therese@conwayarkansas.org or 501-9325411.
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