2013-12 Faulkner County Business Journal

DECEMBER 2013

IT’S MORE THAN A MILESTONE FOR A COMMUNITY STAPLE

50 YEARS 50 ACTS

S

tarting, fostering, and growing a business is never an easy endeavor. More challenging still is maintaining a forward trajectory capable of propelling that business to the 50-year mark.

Crafton Tull is proud to celebrate its 50th year in the business of contributing to the built environment.

FULL STORY, PAGE 4

2D — Sunday, December 15, 2013

Chairman’s Circle recognizes top Chamber investors

Each year, the Conway Area Chamber of Commerce acknowledges its top investors through a “Chairman’s Circle” designation. Members of the Chairman’s Circle underwrite the economic development, education and government affairs initiatives of the Chamber, Conway Development Corporation and Conway Downtown Partnership.

“The level of community building and economic development work we do is not sustainable on a membership dues model alone,” said president and CEO Brad Lacy. “In order to lay the groundwork for new business recruitment, a pre-K initiative and the development of sites such as Rogers Plaza, greater investments are necessary. Each year, more and more companies invest at a higher level to help us underwrite these projects and initiatives. We couldn’t operate without them.”

In 2013, 43 Chamber-member businesses achieved the Chairman’s Circle designation, compared to 35 members in 2012. Total investment increased by more than $200,000. The following businesses achieved Chairman’s Circle status in 2013:

Faulkner County Business Journal

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PARSLEY RECEIVES TOP AWARD

Platinum

Southwestern Energy Company.

Gold

Acxiom Corporation, Conway Regional Health System, Crafton Tull, Crain Buick GMC, First Security Bank / Crews & Associates, Hewlett-Packard, Regions Bank, University of Central Arkansas Foundation and Virco Manufacturing Corporation.

Silver

Arvest Bank, Centennial Bank, Central Baptist College, Conway Management Inc., First Service Bank, Hendrix College, JSI Metal Recycling, Kimberly-Clark Corporation, Log Cabin Democrat, Nabholz Construction and Sonic Drive-In.

Bronze

Arkansas DemocratGazette, Bank of the Ozarks, BHP Billiton, Caldwell Toyota, Covington Properties, Delta Dental of Arkansas, Delta Trust & Bank, Exxon Mobil Corporation, GARVER, Hurley Chiropractic and Wellness Center, International Paper, Magie-Mabrey Eye Clinic, Preferred Medical, Rogers Group Inc., Salter Construction Inc., Smith Ford Inc., Snap-on Equipment, US Compounding Diamond Inc., Verizon Wireless and City of Conway and Weaver-Bailey ContracConway Corporation. tors.

Michelle Parsley (center) was the recipient of the 2013 “Diamond Achievement Award” at the Conway Area Chamber of Commerce’s Women in Business event. Parsley was one of five honorees recognized at the second annual event as an “Outstanding Woman in Business.” She is pictured with Linda Linn (left), the 2012 Diamond Achievement Award winner, and Sherry Smith of Fletcher Smith’s Jewelers.

Fletcher Smith’s Jewelers awards the Diamond Achievement Award recipient with a diamond-studded pendant featuring the Conway “C.” Parsley has been a real estate agent for 30 years and has spent the past 13 years with RE/MAX of Conway. She is the head of Team Parsley real estate and works alongside her husband, Bill, and one of her daughters, Elizabeth. The Women in Business Awards honor women in the Conway area who have excelled in leadership and community service and who have inspired others on both a personal and professional level. A panel of Chamber executives outside the state of Arkansas selected the award recipients.

Business After Hours rescheduled for January

The Conway Area Chamber of Commerce’s fourth quarter Business After Hours has been rescheduled for Jan. 13.

The networking event was postponed due to inclement weather. A & J Collision Repair will still host the event, which will take place at 1215 Thomas G. Wilson Drive from 5-6:30 p.m.

A & J Collision Repair has been voted one of the best body shops in the Faulkner County Best of Readers’ Choice Awards for the past seven years.

In addition, the company has received the Good Housekeeping Seal of Approval and became the first in the state to use Envirobase, an environment-friendly paint, in 2007.

The event is free to Chamber members and their employees. Complimentary hors d’oeuvres will be served. For more information, call the Chamber 501-327-7788.

Conway Development Corp. adds two to board The Conway Development Corporation (CDC) voted to add two local businessmen to their governing board at their annual business meeting. Scotty Bell and Bunny Adcock were elected to three and four year terms respectively. Bell and Adcock join eleven other voting members of the board.

Founded in 1959, the Conway Development Corporation is a non-profit organization created to promote the economic growth and development of the city of Conway and of Faulkner County. The organization works to “attract and secure the location of new business and to assist in every way pos-

sible the future growth and expansion of area business and industry.”

Bell is employed at Virco Manufacturing (NASDAQ: VIRC) as Vice President and General Manager-Conway Division. Adcock currently serves as Vice Chairman and member of the Board of Directors for Home BancShares,

Inc. (NASDAQ: HOMB).

“Scotty and Bunny bring a wealth of knowledge about Conway, economic development and local industry,” said CDC Board Chairman Bill Adkisson. “Their expertise and service strengthens our organization as we continue to compete for economic opportunity globally.”

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Sunday, December 15, 2013 — 3D

Faulkner County Business Journal

Chamber’s 2014 Annual Meeting set for March Nominations open for awards; tickets, sponsorships available

With close to 1,000 business and community leaders in attendance each year, Annual Meeting is the largest business event in Conway. The 2014 event, organized by the Conway Area Chamber of Commerce, is scheduled for March 20 at the Conway Expo Center and Fairgrounds. Tickets and sponsorships are available now.

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 Distinguished Service Award is the Chamber’s highest form of rec-

Conway Area Chamber of Commerce Annual Meeting 2013.

ognition. 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 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 businesses for their continued growth, innovation and community involvement. It is the premier honor to the best overall business in Conway and is presented in five categories based on industry and number of employees.

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 recogniz-

es 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 Chamber-member business. Nominations can be completed online via the following link: http:// bit.ly/AnnualMeeting14.

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 Jan. 3, 2014.

In addition to the awards, Annual Meeting features a CEO-level speaker. This year’s speaker is Steve Mueller, president and CEO of Southwestern Energy Company. Mueller serves on the boards of America’s Natural Gas Alliance, the American Exploration and Production Council, and the Independent Petroleum Association of America.

Individual tickets are $75, and tables and sponsorships begin at $600. Reserve a space by contacting Mary Margaret Satterfield at Mary@ ConwayArkansas.org or 501-932-5412.

Chamber seeks volunteers for membership outreach program With more than 1,300 members, the Conway Area Chamber of Commerce relies on volunteers to help it reach out to the business community it serves. In January of each year, the Chamber distributes information to member businesses as part of “Mission Appreciation.” This volunteer opportunity gives employees of Chambermember businesses a chance to network with other members while thanking them for investing in the organization.

“We would not be able to do everything we do for our members without our generous volunteers,” said director of membership development Whitney Cummings.

Although Mission Appreciation is an endeavor that happens only once a year, the Chamber has a group of dedicated volunteers called Ambassadors that represent it at various functions year-round.

Ambassadors serve as official hosts on behalf of the Chamber at ribbon-cuttings. They also help with member retention. In 2013, the Ambassadors attended 61 ribbon-cuttings, made more than 900 phone calls to Chamber member businesses and delivered more than 300 goodies as a thank-you to renewing members.

The 2013 Chamber Ambassadors are as follows: Aaron Leach, Metropolitan

National Bank; Adam Davis, Adam Davis Farmers Insurance; Alicia Page, Acxiom; Arthur Ingram, Acxiom; Branden Stroth, Metropolitan National Bank; Brian Zimmerman, Metropolitan National Bank; Bridget K. Williams, KimberlyClark Corporation; Carly Stephens, Microtel Inn & Suites; Charles Browder, Metropolitan National Bank; Debbie Plopper, First Service Bank and Conway EcoFest Inc.; Eleise Wood Myers, Conway Corporation; Frank Maree, Acxiom; Heather Currie; Salon Bliss; Janetta Fuqua, Simmons First National Bank; Jennie Marvel, Kimberly-Clark Corporation; Jennifer Harrison, First Security Bank; Jennifer

Prince, Simmons First National Bank; John Scherrey, Centennial Bank; Jon Ross Henderson, First Security Bank; Josh Linden, Centennial Bank; Justin Story, Payroll Vault of Central Arkansas; Karl Justice, Crain Buick GMC; Keith Jones, Acxiom; Leia Morshedi, Leia Morshedi LLC; Lisa Garner, Independent Living Services; Marilyn Battles, First Service Bank; Michael Mayo, Central Baptist College; Mitzi Anthony, Acxiom; Nola Hensley, Davidson Law Firm; Patricia Hepner, Faulkner County Realty Inc.; Rebekah Eades, First Service Bank; Rikki Wyzgoski, Conway Healthcare and Rehab; Robert Newman, Legacy

Realty, Inc.; Shirley Kimbrell, Family Heritage Insurance; Stephen Ardeneaux, Amazing Grace Cleaning Services LLC; Steven Richards, Valued Merchants; Tanya Malcolm; Centerpoint Energy; Thomas Straight Jr., Acxiom; Tracy McGinnis Fulcher, Marco’s Pizza; Tracy Robbins, CrossFit Conway; Toby Hart, Take the Lead Academy; Valerii Dychok, Acxiom; Wendy Shirar, Acxiom Corporation; and Wilma Turner, Acxiom.

To learn more about the Ambassador program or the Mission Appreciation volunteer opportunity, contact Whitney Cummings at Whitney@ConwayArkansas.org.

4D — Sunday, December 15, 2013

COVER STORY

Faulkner County Business Journal

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More than a milestone

Crafton Tull Celebrates 50 Years in Business through 50 ‘Acts of Kindness’

S

tarting, fostering, and growing a business is never an easy endeavor.

More challenging still is maintaining a forward trajectory capable of propelling that business to the 50year mark. Crafton Tull is proud to celebrate its 50th year in the business of contributing to the built environment.

Since its inception in 1963, Crafton Tull has enjoyed the help and support of their families, colleagues, clients, and communities. It is because of this mainstay that the engineering, architecture, and surveying firm chose to celebrate this milestone anniversary by giving back to the cities where they live, play, and work.

With this goal in mind, Crafton Tull launched a year-long campaign they named 50/50: 50 years.

50 acts. The idea was to go into the communities to find where the need was greatest and provide even more than the quality architecture, engineering, and surveying they are known for; their time and financial resources. Included in the acts championed by the employees of Crafton Tull were organizing and running a food drive at Toad Suck Daze, helping build bicycle racks for City of Hope Outreach, and donating much needed materials

as well as financial contributions to the Haven House shelter.

As the year progressed and more acts of kindness were completed, the employees became passionate about the endeavor and even added to their volunteering schedule outside of the campaign. Lane Housley, Executive Vice President for Energy Services and manager of Crafton Tull’s Conway office, had this to say: “Crafton Tull wanted to show its appreciation for the entire community by performing several acts of kindness right here in Conway. We know that if not for the local community, leadership, and support, we could not have experienced the substantial growth we have had over the past seven years. We love this community, we love our neighbors and we strongly believe that Conway is not only a great place to work, but it also a great place to shop, play, and raise your family.”

The entire Crafton Tull organization has more than a professional interest in Conway.

Many of the employees call Conway home. Mr. Housley attributed much of the firm’s success to this fact when he said “The improvement in your community means improvement in our community. We have been proud to participate in

‘We have been proud to participate in building the city of Conway, whether on the campuses of UCA and Hendrix, or the revitalization of the historic downtown streets and parks.’

—

Crafton Tull members at the “Fill the Truck” food drive.

building the city of Conway, whether on the campuses of UCA and Hendrix, or the revitalization of the historic downtown streets and parks. This is our backyard and we are honored to have a part in making it the best it can be.”

The people at Crafton Tull are invested in the idea that contributing to the built environment of Conway is an integral part of growing the community into an even more dynamic environment for businesses, churches, schools, and families to

call home. Crafton Tull is connecting to Conway through sustainable design, its core values, and its commitment to the citizens who call Conway home.

In the half century since Bob Crafton and Lem Tull set out on their own, Crafton Tull has grown into a full-service firm that embraces sustainable design, expanded into several different cities and states, won numerous awards for creative design and problem solving, been named in the ENR Top 500 design

firms – all this while surviving an ever-changing economy without wavering in their loyalty to the clients and families that make Crafton Tull possible. When asked what he felt played the most important role in the success of the firm, Matt Crafton, President and CEO, summed it up by saying, “I love the old Babe Ruth quote, ‘Yesterday’s home runs don’t win today’s games.’

It is this type of determination that has fueled Crafton Tull for 50 years.”

It appears this approach to the future is still very much alive at Crafton Tull in that they are taking that adage even further by instilling in their employees that

today’s home runs don’t win tomorrow’s games.

The excitement was obvious when Mr. Crafton talked about what is on the horizon for the firm: “We are always looking for ways to adapt, while holding onto the values that brought us about.

We are still working as hard as always to position ourselves so that we continue to grow and innovate. Crafton Tull has a proven history of fostering cutting edge ideas and seeing them through to completion. We are just warming up!”

For a full list of services, 50/50 Acts, and firm information please visit 50acts.craftontull.com.

For more information about Crafton Tull, visit craftontull.com.

6D — Sunday, December 15, 2013

Faulkner County Business Journal

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Nabholz Construction announces new leadership At a December meeting, the Nabholz Board of Directors voted unanimously to name CEO Bill Hannah as Chairman of the Board. Chief financial officer Greg J. Williams will step into the role of CEO. Both positions will be effective Jan. 1, according to the news release.

“Our Board is very pleased to announce the appointment of Bill and Greg to these two important leadership positions,” said Chairman Emeritus Charles Nabholz.

“These promotions are the culmination of many months of careful succession planning efforts and will assure our clients and shareholders of top quality management for years to come.”

Mr. Nabholz added: “Bill has been an outstanding CEO for our company over the past 12 years, and I am confident that he will provide the same strong leadership as our company’s Chairman.

I congratulate Bill on receiving a strong vote of confidence from our Board as he becomes the first person outside of the Nabholz family to fill the Chairman’s position.

I am also delighted to see Greg step into his new role as CEO. He has proven himself as a strong leader, and he understands the financial and risk management aspects of our business. Preserving Nabholz’ values and high standards has always been his highest priority, and we are confident in his ability to lead the company forward.”

As CFO for the past 18 years, Williams, 54, has been responsible not only for Nabholz’ finances, but also for the company’s human resources, legal and risk management, IT, and wellness programs.

He joined Nabholz as Controller in 1991 and became CFO in 1995, and he has served on the Nabholz Board of Directors for the past 11 years.

A Certified Public Accountant, Williams earned his bachelor’s degree in accounting from the University of Arkansas. Williams Hannah is very active in his community, volunteering for and serving on the boards of numerous community organizations, including the American Red Cross of GreatWilliams er Arkansas, the St. Joseph School Endowment, and the Conway Regional Physician Hospital Organization. Born and raised in Stuttgart, Ark., Williams now lives in Conway with his wife Doris. They have three daughters: Caitlin, 25; Hannah, 23; and Elise, 19.

“I’m honored by the Board’s trust in me, and I’m grateful for this opportunity to lead Nabholz,” Williams said of his appointment as CEO. “I have always told our Board that I feel blessed to be part of such an amazing team and that I will serve however I am needed. We have a strong foundation, and I’m excited about the future of Nabholz.”

Hannah expressed his confidence in the Board’s selection of his successor. “Greg is absolutely the right person to lead Nabholz as CEO. I’m very happy with the Board’s decision.”

He added: “Over the past several years, Greg has demonstrated a solid understanding of what it takes to build a strong organization. He has a clear vision that will serve him well as he leads the company forward. I can’t think of a better person than Greg for the job.”

TOP 5 RESIDENTIAL HOME SALES, NOVEMBER PRICE

ADDRESS

BED FB HBA SUBDIVISION

SQFT

PRICE/SQFT

BUILT

$294,500 320 VINTAGE COVE

4

3

0

CHAPEL CREEK PHASE II 2,606

$114.93

2013

$261,000 3660 NOBLETT DRIVE

4

3

1

MADISON PLACE

3,065

$91.32

1995

$253,000 1140 DOODLE CIRCLE

4

2

1

CATHERINE PLACE

2,634

$97.95

2002

$249,900 1825 SUMMERBROOK DRIVE 5

3

0

SUMMERBROOK

2,470

$101.17

2002

$240,000 1135 TURNBERRY

2

0

TURNBERRY

1,835

$130.79

2013

3

Chamber to host Holiday Open House, reception

By Elise Williams

The Conway Area Chamber of Commerce’s annual Holiday Open House and Reception, presented by Conway Corporation, will take place Thursday, Dec. 19, at the Chamber, located at 900 Oak Street.

“We’ve hosted this event the past three or four years, and we have a pretty good turnout each year,” said the Chamber’s director of events, Mary Margaret Satterfield. “It’s a great time for our staff to visit with

members and a chance for The event will last from members to network and 2-4 p.m. and there will be meet other Chamber mem- hors d’oeuvres and apple cibers.” der served.

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Conway Economy at a Glance Unemployment Rate* October US................... 7.3% Arkansas......... 7.5% Faulkner.......... 6.8% Conway........... 6.9% *Faulkner County & Conway not Seasonally Adjusted Sales Tax Collections Conway* September 2013......$1,883,498 2012......$1,929,990 Percent Change -2.4% Year to date (Sept.)

2013....$17,134,076 2012....$17,076,332 Percent Change 0.34% Annual 2012....$22,944,163 2011....$22,366,464 Percent Change 2.6% *Tax rate 1.75% Faulkner County* September 2013.........$713,845 2012.........$706,588 Percent Change 1.03% Year to Date September 2013......$6,371,070 2012......$6,357,870 Percent Change 2.1% Annual* 2012......$8,465,686 2011......$8,279,301 Percent Change 2.3% *Tax Rate 0.5% Restaurant Sales* October 2013....$12,841,321 2012....$12,700,359 Percent Change 1.1% Year to Date (Oct.) 2013..$137,612,171 2012..$135,096,301 Percent Change 1.9% Annual Sales 2012..$153,412,988 2011..$144,646,055 Percent Change 6.1% *Including mixed drink sales Hotel Sales October 2013......$1,315,818 2012......$1,434,283 Percent Change -8.3% Year to Date (Sept.)

2013....$16,151,885 2012....$16,084,702 Percent Change .42% Annual Sales 2012....$18,683,676 2011....$18,662,136 Percent Change 0.1% Conway Building Permits Single Family Homes Year to Date (Nov.) 2013.....131 Permits 2012.....159 Permits Percent Change -17.6% Annual 2012.....186 Permits 2011.....153 Permits Percent Change 21.6% Avg. Construction Cost* Year to Date (Nov.) 2013.........$229,029 2012.........$206,932 Percent Change 10.7% Annual 2012.........$207,537 2011........ $204,387 Percent Change 1.5% *Not including land or lot improvements Average Square Footage* Year to Date (Nov.) 2013...............3,021 2012...............2,909 Percent Change 3.9% Annual 2012...............2,910 2011...............2,814 Percent Change 3.4% Avg. Construction Cost Per Square Foot* Year to Date (Nov.) 2013.............$75.81 2012.............$71.14 Percent Change 6.6% Annual 2012.............$71.33 2011.............$72.64 Percent Change -1.8% *Total under roof Lottery Sales Faulkner County November 2013......$1,228,040 2012......$1,253,191 Percent Change -2.0% Year to Date (Nov.) 2013....$13,309,238 2012....$14,033,686

Percent Change -5.2% Total State October 2013....$33.037.800 2012....$33,691,499 Percent Change -1.9% Year to Date (Nov.) 2013..$366,658,498 2012 .$379,085,841 Percent Change -3.3% Natural Gas Severance Tax Distribution Conway November 2013...........$21,515 2012...........$17,097 Percent Change 25.8% Year to Date (Nov.) 2013.........$255,027 2012.........$162,457 Percent Change 57% Annual 2012.........$162,457 2011.........$254,822 Percent Change -36.2% Faulkner County November 2013...........$17,467 2012...........$13,835 Percent Change 26.3% Year to Date (Nov.) 2013.........$207,002 2012.........$131,478 Percent Change 57.4% Annual 2012.........$131,418 2011.........$204,052 Percent Change -35.6% Wellhead Price per MCF* Yearly Average 2012...............$2.66 2011...............$3.95 2010...............$4.48 2009...............$3.67 2008...............$7.97 *MNC=1000 cubic feet Number of Active Wells* Faulkner.............350 Total in Field ..4,481 *As of Dec. 12, 2012 Estimated Life Time Value of Production* Total Field................ $11,382,327,198 *As of Sept. 30, 2012

Information provided by pulseofconway.com

Faulkner County Business Journal

Sunday, December 15, 2013 — 7D

Conway’s economy: Slipping?

By Roger Lewis

UNEMPLOYMENT RATE

Many measures indicate how the economy of a city, county, state, or nation is doing. I’ll begin by focusing on one measure, unemployment rate and then follow with other indicators. I’ll end with a conclusion about Conway’s economy in December 2013.

As shown in the table, the unemployment rate in the US dropped from 7.5 percent to 7.0 percent in the year from October 2012 to October 2013. During the same period, however, the Arkansas rate increased four-tenths of a percentage. In Faulkner County the increase was six-tenths of a percentage and in Conway the increase was nine-tenths of a percentage point. These are not comforting figures and they are not restricted to a one-year analysis.

Unless there is a sharp decline in unemployment figures in November and December, Conway’s unemployment rate for 2013 will be the highest in 20 years.

The unemployment rates for the US and Arkansas that are published in news releases are seasonally adjusted rates, which differ slightly from the unadjusted rates presented here. Seasonally adjusted rates are based on larger samples of time in order to reduce monthly fluctuations. Because seasonally adjusted rates are not available for cities and counties, the table uses unadjusted rates in all four categories.

Faulkner County’s workforce is 57,790 of which 30,457 (52.8%) live in Conway and 2,125 (6.9%) are unemployed.

The remainder of the

Oct. 2012 Oct. 2013 U.S. 7.5 7.0 Arkansas 6.6 7.0 Faulkner 6.2 6.6 Conway 6.0 6.9 workforce, 27,333 (47.2%) live outside of Conway. Of these 27,333 1825 (6.7%) are unemployed. This is the first time since 2000, when the Arkansas Department of Workforce Service first published city unemployment data, that the unemployment rate for Conway has exceeded that of the workforce residing outside of the city.

Combining these numbers, there are 3,950 (6.8%) unemployed workers in Faulkner County.

One might become a little complacent when comparing the unemployment rates of Conway and Faulkner County with other places with higher rates.

A 6.8% unemployment rate does not sound drastic. But when the percentage is presented as 3,950 unemployed workers, reality sets in. Also, the actual number of unemployed people who want to work is even higher because unemployment figures do not include the long-term unemployed who are not eligible for unemployment benefits.

As for specific sectors of the economy that are producing these unemployment numbers, the Arkansas Employment and Security Division does not release unemployment figures for different business sectors. Thus, there is no data on what types of businesses are laying off workers.

Other indicators besides unemployment rate tell

how an economy is doing.

For Conway, residential and commercial construction is down more than 30% from the same period in 2012. Single-family residential building permits are down 18%. Sales tax collections are essentially stagnant, increasing less than one-half of one percent through September of this year. Hotel sales are up a fraction of a percent from last year.

Restaurant sales are up less than 2%. Hewlett Packard, Southwest Energy and Acxiom reported significant lay-offs. Other segments of the economy such as education, government, and heath care do not have monthly measures that reveal trends.

However, these segments appear strong and they offset some of the weak areas. Our growth rate may be flat or modest at best, but certainly it is not in a decline.

Of course, there is always the “Thank God for Mississippi” response to any unfortunate news. We are better off than the 10 counties (mostly in Eastern Arkansas) where unemployment rates exceed 10 percent. The highest is Lee County (Marianna), which has a 11.1 percent unemployment. Although Faulkner County’s 6.8 percent ranks as 18th lowest in Arkansas, one year ago it ranked 13th. At the other end of the spectrum, Northwest Arkansas now has six counties with unemployment rates that are under 6 percent. Carroll County (Eureka Springs) is lowest with 5.0 percent.

We have a very diverse economy and that is our strength. While large corporate employers have fluctuations that signif-

icantly affect unemployment, our institutions and small businesses remain stable. Faulkner County’s employers include approximately 60 government and education agencies and some 2700 private establishments. Many of these are small businesses (2 to 10 employees), whose importance should not be overlooked. Our institutions provide stability but growth will depend on private establishments flourishing. While our economy is soft now, I am optimistic about the future, even though it may take several years to regain its past vitality.

There are many families in Faulkner County who are struggling and need help. Local food banks run by charities and churches report that they exhaust their supplies weekly. The Bethlehem House for the homeless and other social services agencies have all experienced heavier demands. These services are only stopgap measures that provide for essential needs until employment is found. Extending unemployment benefits, food stamps and job creation projects are important if we are to meet the needs of the unemployed.

As the Christmas season is celebrated, there are many opportunities to help those in need. Please be mindful of those less fortunate in our community and be generous.

I thank my friend Chris Spatz for editing and helping me with this article.

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