NEW ENERGY EL Clinical Esthetics is ‘ready for its close up’
For the last 22 years, tens of thousands of women (and men) have made their way from all over Arkansas to a small business in west Conway committed to personal service and helping people look and feel their best. FULL STORY, PAGE 6
CYP to host ‘Power Lunch’ The Conway Young Professionals (CYP) will gather to find out how they can play a role in Conway’s future during their next “Power Lunch” event Monday, February 21st at Agora Conference Center. CYP members and guests will listen to a presentation about the Conway2025 plan from Brad Lacy, President and CEO of the Conway Area Chamber. The Conway Young Professionals, in association with the Conway Area Chamber of Commerce, is designed to provide young business men and women leadership and networking opportunities dedicated to cultivating areas of professional development and civic engagement. Members make valuable connections with peers from various industries and have access to business leaders in Conway and the surrounding area. CYP will host four luncheons for members of CYP and the Chamber in 2011. Business leaders in the community will be invited to present on timely and pressing issues relating to the development of young professionals and the workforce. The event serves as a networking opportunity for members within CYP and between members of the Chamber. The luncheon will last from 11:30-1:00pm and is open to the public. The lunch and program is $15 for current CYP members and $25 for non-members. RSVP by emailing Lindsay Grifford at Lindsay@ conwayarkansas.org.
Conway 2.0 – ROCK-POND SOLUTIONS
Rock-Pond Solutions provides business consulting, software applications and information services to the home infusion therapy industry. Home infusion therapy is one of three segments of home health care, the other two being durable medical equipment and home health nursing services. The home infusion therapy industry represents approximately $9-11 billion dollars a year U.S. health care expenditures. What is Rock-Pond Solutions? Rock-Pond Solutions began as a consulting company for home infusion providers but quickly grew into the leading data analytics company in the industry. Our flagship product, Rock-Pond Reports, is installed in customers in 25 states. These include customers like Johns Hopkins Homecare Group in Baltimore, Md., Duke Home Infusion in North Carolina, Apria (the nation’s largest home infusion provider), Providence Home Infusion in
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Seattle and Baptist Home Infusion in Little Rock. Our message to our customers is “Rock-Pond Solutions gives you the INFORMATION you need from the DATA you’ve got.”
ties for students and welcomes Conway businesses to do just as Rock-Pond has. With the rapid changes in technology it’s an advantage to hire employees who were raised in a “digital world.”
How many employees do you have? Rock-Pond has eight employees. Our Chief Technology Officer works out of our Scottsdale, Ariz., office and the rest are located here in Conway. Five are full time and two are part time. Three of them have been with the company less than six months, and we expect to continue to add to our staff throughout 2011. With recent growth and need for new employees, I’ve developed a great relationship with the Office of Career Services at Hendrix College. We are literally neighbors with the campus, so it’s a great chance to connect with smart, young people who are looking for an internship or others who are looking for a part-time job that might grow into something permanent. Leigh Lassiter-Counts (450-1439, lassiter-counts@hendrix.edu) is actively seeking internship opportuni-
Would you consider yourself a services or product company? I’d consider Rock-Pond a services company that is becoming a product company. In November, 2010, Rock-Pond released our first product, the Rock-Pond Information Center. It is a desktop application that connects to our data warehouse through another product, RockPond Connect, and has a third product, the Customer Resource Center embedded within it. The Information Center is the cornerstone on which we will release additional products in 2011and beyond. For the first 10 years of our existence our position was to extend the other core software systems in the home infusion market with a reporting solution that we sell as a service. See ROCK-POND, Page 3
Conway Economy at a Glance Unemployment Rate November 2010 US ....................................9.8% Arkansas............................7.9% Faulkner County .............. 6.6% Conway..............................5.7% Labor Force November 2010 Conway Employed........................25,456 Unemployed.....................1,536 Total................................26,992 Faulkner County* Employed........................51,100 Unemployed.....................3,650 Total................................54,750 *Includes Conway Sales Tax Collections Conway* October 2010........................$1,759,175 2009........................$1,526,866 Percent Change 15.2% Total Year to Date (October) 2010 .....................$17,944,223 2009 .................... $16,990,792 Percent Change: 5.6% *Tax Rate 1.75% Faulkner County* October 2010...........................$647,896 2009...........................$564,487 Percent Change 14.8% Total Year to Date (Oct.) 2010........................$6,408,195 2009 .......................$6,303,924 Percent Change 1.7% *Tax Rate 0.5% Restaurant Sales* November 2010 .....................$11,086,064 2009......................$10,280,579 Percent Change 7.8% Sales year to date (Nov.) 2010....................$127,490,299 2009 ...................$119,530,577 Percent Change 6.7% *Includes mixed drink sales Hotel Sales (November) 2010........................$1,255,735 2009 ...................... $1,128,704 Percent Change 11.3% Sales Year to Date (Nov.) 2010......................$16,558,325 2009..................... $15,394,932 Percent Change 7.6% Building Permits Single Family Residents Total for the Year 2010.......................223 Permits 2009 ..................... 259 Permits
2008 ..................... 192 Permits Percent Change (2009-2010) -13.9% Average Construction Cost 2010.......................... $182,340 2009...........................$177,264 2008...........................$192,844 Percent Change 2009-2010 2.9% *Not including land or lot improvements Average Square Footage* 2010 ................................2,673 2009 ............................... 2,609 2008.................................2,818 Percent Change 2009-2010 2.5% *Total under Roof Lottery Sales Faulkner County December................$1,350,681 Annual*..................$17,448,701 Annual Per Capita .......$163.34 Total State December . ...........$39,762,737 Annual*................$459,916,250 Annual Per Capita........$161.07 * January1, – December 30, 2010 Natural Gas Service Tax Distribution December Faulkner County...........$13,372 Conway.........................$17,224 All in County * For 2010 Faulkner County.........$171,543 Conway.......................$221,255 All in County * Number of Wells* Faulkner County..................241 Total in Field . ..................3,149 *As of Jan. 6, 2011 Estimated Life Time Value of Production* Total Field.........$7,014,746,330 *As of October 10, 2010 Wellhead Price per MCF* November 2010 ................................$3.34 2009.................................$3.64 2008.................................$5.97 Yearly Average 2009................................$3.71 2008.................................$8.07 2007.................................$6.37 2006.................................$6.40 2005.................................$7.33 2004.................................$5.46 2003.................................$4.88 2002.................................$2.95 *1000 cubic feet
Information provided by pulseofconway.com
Real Estate Sales, Construction Down; Remodeling, Additions Up BY ROGER LEWIS
It is a real estate buyer’s market with interest rates at a historic low, a high inventory of existing homes for sale and somewhat depressed prices. But, because of a number of factors, there is also a shortage of buyers. I have only anecdotal data, but fewer Faulkner CMortgage requirements have tightened, unemployment has increased and the overall uncertainly of the economy has kept buyers at bay. Residential construction and real estate sales in Faulkner County are down approximately 12% for 2010 compared to 2009. In light of current economic times this could be considered a moderate decline; but the forecast is a bit brighter. All construction - residential, commercial, and remodeling and additions - was up a moderate 3%. The National Association of Realtors forecasts the sale of existing homes to rise 8 percent in 2011, and the sale of new housing 21 percent. This is based on an anticipated drop in the national unemployment rate to 9.2%. Faulkner County’s 6.6% unemployment rate is well below the current national rate of 9.8% and will likely drop further. Consequently, the housing industry in Faulkner County should
improve significantly over the next two years. Real estate sold through Faulkner County realtors for the first six months of 2010 was up 2.7% when compared to the same period for 2009. However, for the next five months, July through November, sales were down 24% to average down 10.8% for the year. The April 30 expiration of the federal tax credit incentives for purchasing homes contributed to the lower sales in the latter part of the year. The average price of homes sold increased 6% from $147,099 in 2009 to $155,940 in 2010. The value of all real estate transactions in 2010, $273 million, was the lowest since 2001 and the all time high was in 2007 when they reached $529million. The value of real estate transactions is determined by the amount revenue stamps sold on real estate deed transfers and it has declined approximately 50% from 2007. Building permits for single family homes in Conway for 2010 were down 11.8% in value and the number of units down 13.9% compared to 2009. Like real estate sales, most of the decline occurred in the later months of 2010. For the first three months in 2010 the value of building permits was up 54%, and for the nine months following, it decreased by 32% for an overall average of -11.8%. Multi-family permits were down 20.8% in value. This
ROCK-POND, from Page 2 What role does technology play in your business? Technology is at the heart of our business. However, as technology becomes more and more pervasive, we are constantly reminded that it is people, not technology that are most important. I like to think that every call is a sales call and results are what customers truly care about. Whether it runs on an iPhone or someone just tweeted about it is not as relevant as the difference between what a customer expected to get and what they got. Our goal is to be a technology leader in the home infusion industry and to exceed our customers’ expectations. Where would you like to see Rock-Pond in FIVE years? We are considered the data experts in the home
recent trend is of concern for the residential construction industry’s immediate future. While the average size of a single family dwelling remained approximately the same, 2600 square feet under roof, the average construction cost, not including the lot or improvements, was up 3% from $177,264 for 2009 to $182,340 for 2010. The value of commercial construction permits for 2010 was down 40.3% from 2009. The value of 2009 commercial permits was impacted by the Hewlett Packard and Southwest Energy buildings valued at $29 million. However, there were still some large commercial projects in 2010: Cinemark Theater, Blue Cross Data Processing Center and the Holliday Inn Hotel totaling $18 million. The value of upgrades, remodeling, additions and accessories, for both residential and commercial construction more than doubled in 2010 from $27 million in 2009 to $55 million in 2010. This segment of the construction industry has offset declines in other areas. The value of all construction, residential, commercial, industrial, and upgrades, had a moderate 3.1 percent growth from $146 million in 2009 to $151 million in 2010. More information on Faulkner County real Estate Market can be found at Pulse of Conway website, pulseofconway.com.
infusion industry today, and my goal is for us to still be in this position five years from now. Someone told me years ago when I was building my software company that the key to success in the software industry is to “be first, look good and keep getting better.” That is my first goal. Beyond that, I believe we have developed some products and methodologies that will work well in other health care and non-health care business segments. If we can continue our growth and leadership in this industry while expanding into other areas of health care and other industries we’ll have a great ride for at least five years. With all this said, I plan to be headquartered in Conway, Ark., five years from now, because Conway is a great place to be based and provides many advantages when you are competing against other companies who are based in larger cities where the cost of doing business is much higher. FAULKNER COUNTY BUSINESS JOURNAL | 3
TOP 5 RESIDENTIAL home sales in faulkner county DECEMBER 2010
46 Lakeview Drive
25
40
40
14 Hilton Drive
Old Morrilton Hwy
$891,000, Built in 2010 6 bed, 6 bath, 2 1/2-bath Hilton Subdivision 5,586 square feet ($151.40/sq. ft.) List agent-Velda Leuders, Selling agent-Velda Leuders
Gentry Lake
Cadron Valley Country Club
Meadowlake Rd
Donaghey Ave
64
65 65
64
r St
Centennial Valley Golf Club
er S krid Har
Tyle
Mountain Vie
Gatlin Park
Hendrix College
t
4860 Dover Lane
65 40
60
n Pri
46 Lakeview Drive
266
Donaghey Ave
Salem Rd
1050 Kirkland Drive
ce
Oak St
St
Laurel Park
Caldwell St
E Oak St
60
Conway Country Club
65
Fifth Avenue Park
Airport Park
Central Baptist College
Dennis F Cantrell Field
60
Oak Grove Cemetery
Highway 60 W
440 Wellesley Drive S Salem Rd
$325,000, Built in 1972 3 bed, 3 bath Lakeview Acres 3,711 square feet ($87.58/sq. ft.) List agent-Timothy Powell, Selling agent-Michael Stout
Days Lake 65
Skyline Dr
Gleason
440 Wellesley Drive $340,000, Built in 2000 5 bed, 3 bath Wellington Subdivision 3,790 square feet ($89.71/sq. ft.) List agent-Whitney Long, Selling agent-Denise Wilson
Robins Lake
64
4860 Dover Lane 286
Dave Ward Dr 286
ider arkr
SH
$306,000, Built in 2004 4 bed, 3 1/2 bath Nottingham Subdivision 3,009 square feet ($101.69/sq. ft.) List agent-Mike Argo, Selling agent-Jan Clark
University Of Central Arkansas
St 365
Brumley Ar-3 65 S
1050 Kirkland Drive $273,000, Built in 2006 4 bed, 3 bath Chestnut Meadows 2,681 square feet ($101.83/sq. ft.) List agent-Beth Tyler, Selling agent-Mary McKaskle
65 40
365 286
14 Hilton Drive
Preliminary census data shows positive trends for County Recent data released from the Census Bureau shows that a higher percentage of Faulkner County residents are earning a living locally. The American Community Survey shows that the percentage of residents traveling outside the county for work fell from 32.9% in 2000 to 32.1% in 2009. While the
decline is modest, Chamber President Brad Lacy said that it reinforces an important story about the local economy. “This community is bucking the trend when it comes to central Arkansas. The report shows that we are creating jobs at a rate even greater than our population growth.” The survey does not reflect a number of job additions realized in 2010 such
as Hewlett-Packard’s 1,000plus jobs and others. Faulkner county residents are twice as likely to work locally as residents of other counties surrounding Pulaski County. Lacy says that Conway is firmly established as the secondary labor market in central Arkansas. “Our local economy isn’t just doing a good job of providing jobs for our residents. It’s also an
employment destination of its own regionally.” The survey also shows a countywide increase in educational attainment, per capita, household and family incomes. Family income in the county jumped almost 33% from a 2000 mark of just over $45k annually to right at $60,000 per year in 2009. Official population numbers will not be released for cities and
counties until later in the first quarter of 2011. The city of Conway’s official 2009 population estimate was 59,512, placing it seventh among all Arkansas cities. Faulkner County’s 2009 estimate was 109,386 ranking fifth among the 75 Arkansas counties. The city of Conway and Faulkner County will both add to those numbers with their 2010 decennial census results.
FAULKNER COUNTY BUSINESS JOURNAL | 5
EL Clinical Esthetics is ‘ready for its close up’ For the last 22 years, tens of thousands of women (and men) have made their way from all over Arkansas to a small business in west Conway committed to personal service and helping people look and feel their best. Susan Isom opened EL Clinical Esthetics in 1989 “we started with a small loan and a handful of clients.” Isom said that the business went through a number of locations before settling down in the Saddletop Center on Salem Road 12 years ago. Isom, who was the state’s first licensed esthetician, has done esthetician work since 1986. Skin care procedures and services make up about 75% of EL’s business. EL offers a broad range of skin care services. Isom’s newest offering is the Dual Fraxel laser procedure. EL’s Dual Fraxel system is one of only two in the state. The Dual Fraxel is the authentic, non-invasive Fraxel laser treatment. Isom says that the new technology offers all the benefits her clients enjoy with traditional Fraxel treatment but 6 | FAULKNER COUNTY BUSINESS JOURNAL
with faster treatment times, increased comfort and an additional treatment mode for pigmentation. The results are comparable to superficial CO2 resurfacing results but without the degree of downtime or wound care. Isom said, “By combining the two treatment modes, patients can get more effective resurfacing, treating both deep and superficial conditions”. Vibradermabrasion, botox, cosmetic fillers and chemical peels make up the majority of EL’s skin treatment procedures. However, EL is well known for another service that Isom has been providing for years. EL offers custom blending for make-up. Isom says that custom blended make-up is priced competitively and offers her clients an opportunity to choose a base and color that perfectly matches their unique skin needs. There are also make-up artists available for special occasion makeovers. EL also offers a number of other wellknown make up lines. Two launched in the fall of 2010 have made the store a destination for cosmetics. Erno Laszlo is the newest product at EL. The store began carrying it in November of 2010.
Erno Laszlo was founded by a dermatologist in 1926. It is a cosmetic skin care line. Isom describes it as “treatment make-up.” “It is a simple skin care ritual that works with your skin. It doesn’t have harsh ingredients.” The second new line at EL is Smashbox Cosmetics. EL started carrying Smashbox in mid 2010. The line has benefitted from a host of celebrity endorsements and was made popular by the reality show “The Hills.” Smashbox offers a full suite of cosmetics. Isom says that the cosmetics are “studio ready” and are even gluten free for those who have allergic reactions to other cosmetics. Isom says that she doesn’t change out lines frequently and it’s a decision she takes seriously. She said that the priority is offering her customers products that she believes will best treat whatever concerns he or she may have. I only recommend what the client needs and sometimes when an in house treatment is recommended I may recommend additional products at a local drugstore to help reduce overall cost in addition to the treatment he or she may receive.
One long standing product that Isom believes in is Obagi skin care line. Obagi is the number one skin care product. It offers pharmaceutical and prescription strength skin care and promises to change skin at the cellular level. “Our Obagi products carry a higher percentage of the active ingredients” says Isom. “Most skin care products are limited to 2% concentration.” Isom says that the Obagi line lets her offer a full spectrum of skin care products. “If someone wants to transform their skin, treatment has to be more aggressive. The process is not an overnight fix, but the results are gratifying and you stand a better chance of looking younger longer.” New services, new products and even newly remodeled space have this 22 year old business brimming with new energy. Perhaps that’s why 2010 was the best year on record for EL. Isom credits her staff and her dedicated clients. “I spend 80% of my time doing procedures. I have amazing team that keeps the retail business going. This is a relationship business. Our success is built on trust, service and wanting the best for our clients.”
Feb. 8 event promises to grow ‘relationship driven’ profits Dozens of Conway area business people will gather Tuesday, February 8th at Oak Street Bistro to discuss how to generate qualified leads and referrals for businesses of every type. The “Business After Hours” event will last from 5:00pm til
6:30pm. The event is hosted by Conway Area Chamber of Commerce Leads Groups. Chamber Leads Groups meet twice a month and give members the opportunity to share testimonials about their business. In turn, they hear from other members and are able to give personal references for their group. Chamber Director of
Membership Lindsay Grifford said that over 40 business people are currently active in the Chamber’s two Leads groups. “It’s the best opportunity for people to grow any client based business. Leads Groups help our members sell their product or service in a personal way. The referrals they generate are relationship driven and very effective.”
Aside from providing social and professional networking benefits, this Business After Hours aims to increase awareness about Leads Groups and grow membership. “As our Leads Groups grow, they become more effective. We currently have two active groups. “I would love to see us add another group” said Grifford.
Applications will be available at the event. Leads Group membership is limited to active Chamber members. The February 8th event is open to all Chamber members or anyone interested in Chamber and Leads group membership. Leads Groups dues are $25 per quarter. Food, refreshments and a cash bar will be available.
n EDITORIAL
IT’S A TALE OF 3 PLANS
I
WHAT’S THAT GONNA BE?
W
Wimpy’s Burger’s and Fries
impy’s Burgers and Fries is a hamburger restaurant scheduled to open in Conway in March 2011. They serve an array of American food ranging from our Signature Wimpy Burger to soft serve ice cream. Wimpy’s plans to offer flat screen HDTV’s, outdoor patio seating and FREE WIFI. For more information visit www.WimpysConway.com n Where is that?
201 Skyline Drive. (Former Hardees at the entrance of the Conway Towne Center)
n When will it be completed? Mid-March
f you have lived in Conway for more than 10 years, you have seen some incredible change. I’m not just talking about more cars, people and houses. I’m talking about Conway becoming something different. Conway has made a conscious effort to better itself. In 2000, our downtown was “tired.” It had not seen significant new investment in years. To many, it was not capable of being saved. Today, it is a thriving destination for Conway residents and their neighbors. Perhaps no one area of town has seen more investment in the last 5 years than downtown. The progress still continues today. The Conway Downtown Partnership, city government, local businesses and caring community members all played a role in downtown’s revitalization, but the Partnership did one thing that really got the ball rolling. They made a plan. In 2001, the Downtown Partnership developed a plan with Sakal and Hood Architects to revitalize our downtown. While downtown’s growth has taken on an independent life of its own, that plan was the catalyst for millions of dollars in investment that has literally saved downtown. Around the same time
the Downtown Partnership was getting to work, another plan was underway. In 2000, the Conway Development Corporation hired Wadley Donavan Consultants to develop a strategic plan for Conway’s economic development. One of their primary recommendations was to purchase land dedicated to attracting office and technology jobs. In 2001, they acted on that plan and purchased 180 acres of pasture land on the southern edge of town. The city, Conway Corp and others were active partners in developing this raw land. Today, The Meadows Technology Park is home to Hewlett Packard, Arkansas Blue Cross Blue Shield, Cat2 and Arkansas One Call. The plan delivered on its promise and then some. Today it 2011 and we have a new plan. Conway2025 was developed with input from over 1,400 Conway area residents. Go to www.Conway2025.com and look at the goals. The recommendations are ambitious but within reach. The next 10 years offer Conway an equal if not greater opportunity to improve itself. It will again take commitment, action and partnership. But the people of Conway have one big advantage. We’ve done this before.
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