The 2010 Faulkner County Economic Report 60 th Annual Report

Dr. Pat Cantrell Dean of the College of Business

David Teaster Intern UCA Economics Major UCA Economics Major Amber Hall Project Specialist Office of Institutional Research

Themes From Cotton to Computers Conway and Oasis In Arkansas We Have Gas Conway is Growing and You Can Bank on it You Can Bank on it 2005 – The Billion Dollar Economy ABC’s of Conway (Apartments, Banks and Churches)

National Economy

Gross Domestic Product Percent Increase over Previous Year

Unemployment Rate

2010 Monthly Unemployment Rate

Average Annual Unemployment Rate

Consumer Price Index (CPI)

CPI for All Urban Consumers (Seasonally Adjusted) Energy Medical Care Food Other Goods & Services Housing0.4 Education & Communications Transportation Recreation Apparel All Items

Dow Jones Industrial Average Yearend Closing 13,265 8,776 11,578

Family Units Constructed

Value of Building Permits (In Million Dollars)

Population of Conway and Faulkner County 52% of Faulkner County’s population reside in Conway

Faulkner County Births and Deaths per Year YearBirthsDeathsNet Gain Birth to Death Ratio Arkansas Birth to Death Ratio , , , , , , , , , , Ten Year Summary11,7385,2317,

Faulkner County Property Tax Assessment Values 2010 Real Estate All Property Amount % Increase Amount $1,257,743,1974.0$1,597,539, Tax Assessment Values in Conway City Limits Real Estate Percent of Faulkner County All Property Percent of Faulkner County $708,741, $914,665,

Cost of Living Comparison CompositeDifference Average Rent Average Home Conway $525$245,802 Fort Smith $458$236,080 Fayetteville $587$231,964 Hot Springs $612$259,383 Little Rock- N Little Rock $746$261,610 San Francisco $2,264$813,300 Houston, TX $858$224,048 Dallas, TX $702$197,358 San Jose, CA $1,537$781,361 National Avg $810$293,442

2009 Violent and Property Crimes per Thousand Population Burglary Larceny-theft Motor Vehicle Theft

Conway Corporation Revenues, Capital Expenditures and Number of Customers All Departments Residential Electric Customers Year Revenue (Millions) Capital ExpendituresNumber% Increase Population Estimate 2010 $95.1$10.325, , $92.6$10.624, , $85.6$9.723, , $84.4$9.623, , $81.1$7.922, , Residents per Residential Electric Meter

Conway Corporation Residential CapitalElectric CustomersPopulation Revenue*Expenditures*Number% IncreaseEstimate 2010$92.6$10.325, , $92.6$10.624, , $88.3$9.424, , $84.4$9.623, , $81.1$7.922, ,344 * In Million Dollars

Faulkner County Sales Tax Receipts Year 1/2% Sales Tax Receipts Change Over Previous Year 2010$7,472,974$145, $7,327,074-$80, $7,407,916 Year 1% Sales Tax Collections 1% Sales Tax Collections Change Over Previous Year 2010$12,102,898$546, $11,556,334-$52, $11,608,915 Conway Sales Tax Receipts

Estimated Retail Sales for 2010 Conway $1,249,605,828 Faulkner County $1,566,845,200 80% of all Faulkner County Sales Occur in Conway

Conway Advertising and Promotion Tax 2% of Hotel and Restaurant Sales % Change % Change Hotels $318,502 $347, % Restaurant*$2,573,883 $2,627, % Total $2,892,385 $2,975, % * Does not include tax on alcoholic beverages for 2010

Motel Sales 21 Hotels and One Bed and Breakfast % Change % Change 2010$17,5920, % 2009 $ 16,404, % 2008 $17,485,927

Top Five Hotels by Annual Sales $2,521,545 $1,581,092 $1,449,652 $1,434,895 $1,325,391

Restaurant Sales Includes Alcoholic Beverage Sales Sales % Change Sales % Change 2010 $140,014, % 2009 $130,911, % 2008 $124,115,600

Top Ten Restaurant by Annual Sales (Does not include alcoholic beverage sales) $3,950,036 $3,690,003 $3,625,022 $3,611,524 $3,202,551$2,940,872 $2,763,293 $2,662,961 $2,644,305 $2,611,287 Salem Oak Street Hwy. 65 N. Dave Ward Drive

Number of Banking Institutions in Faulkner County and Total Deposits Number of TotalAmount ofPercent InstitutionsOfficesDeposits*Increase*Increase $1,582,979$120, $1,462,019$101, ,374,7158, ,351,95428, ,323,58977, ,245,903139, ,106,67533, * In Million Dollars

Market Share of Faulkner County Bank Deposits

Bank Earnings of Institutions Represented in Faulkner County (Year to Date as of June 30) %Return on Assets Bank of Ozarks st Security Bank st Service Bank Centennial Bank Heber Springs1.05 First Service Bank US Bank River Town Bank Simmons First National Bank Bank of America National Bank of Arkansas Arvest Bank Home Bank of Arkansas Regions Bank Metropolitan National Bank Average

Faulkner County Motor Vehicle Registration (In Thousands of Vehicles)

2010 Natural Gas Production By County (Through November 10, 2010) CountyNumber of WellsMCFEstimated Value Cleburne37283,037,287$338,600,980 Conway638145,299,782$601,454,088 Faulkner25145,438,300$186,840,230 Franklin21139,005$581,828 Independence435,010,237$20,572,201 Jackson253,465,135$14,539,021 Johnson60$0 Pope412,741,689$11,499,862 Van Buren947216,441,863$898,812,006 White876201,661,079$840,753,040 Total ,234,327$2,913,653, wells with $2.9 billion production

Severance Tax Revenue YearGross Revenue 2010$54,484, $27,468, $1,314, $800, $603, $530, $516, $506,136

Lottery Sales Annual Sales 2010 County Sales SalesRank Faulkner$17,448,7015 Pulaski$93,399,3211 Jefferson$21,671,7722 Washington$18,894,0363 Saline$18,019,0614 State Total $459,916,256

Arkansas Scholarship Lottery Monthly Sales Percent Change October$39,311,623$36,716, November$43,538,309$35,501, December$41,292,333$39,762, January$40,187,052$39,663, February$44,980,222$40,523,

2010 Annual Lottery Sales Per Capita County Sales Per CapitaRank Per Capita Income Rank Faulkner$ Dallas$ Nevada$ Arkansas$34535 Jefferson$ Conway$ Montgomery$ State Average$267

Income from Agricultural Production SoldCrop 2010 % Change Beef$17,500, % Greenhouses$500, % Dairy$2,618, % Rice$1,516, % Soybeans$1,442, % Corn$434, % Forestry$600, % Wheat$110, % Fruits & Vegetables $500, % Hay$1,200, % Hogs$120, % Total $26,542, %

The Economic Importance of Tourism in Faulkner County 2009 Data % Increase Total Travel Expenditures $75,306, Visitors345, Travel Expenditure Per Person $ State Tax Receipts $4,589, Local Tax Receipts $1,262, Number Employed Payroll$14,078, Average Annual Pay $14,

2009 Employment and Earnings for Faulkner County FirmsEmployees Annual Earnings Average Earnings Government586,406$261,327,564$40,794 Private2,63531,725$1,090,451,700$34,372 Total2,69338,131$1,351,779,264$38,133 Percent Government

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