Building Conway’s Future 64 th Annual Presentation of the Faulkner County 2014 Economic Report

Prepared for

With the Support of: Dr. Michael Hargis Dean of the College of Business

 Roger Lewis, PhD Report Author  Pat Cantrell, PhD Report Coordinator  Stacey Spinks, MBA Graduate Assistant 2014 Economic Report Prepared by:

National Economic Gross Domestic Product

DOW Jones Industrial Average Year-End Closings

National Unemployment Rate

Average Annual Unemployment Rate

2014 Monthly Unemployment

National Consumer Price Index

Consumer Price Index Percentage Change Per Select Category, Seasonally Adjusted Category Apparel Education & Communications Energy Food & Beverage Housing Medical Care Other Goods & Services Recreation Transportation All Items1.20.8

CitiesComposite Equivalent to $50,000 Salary in Conway Conway 91.9$50,000 Fayetteville, AR ,129 Hot Springs, AR ,707 Jonesboro, AR ,334 LR-NLR, AR ,536 Memphis, TN ,404 New York (Manhattan), NY ,368 San Jose, CA ,794 Seattle, WA ,465 St. Louis, MO ,305 Washington-Arlington, VA ,060 National Average 100$54,407 Cost of Living Comparison

Family Units Constructed

Value of All Building Permits In Million Dollars

Population of Conway and Faulkner County

Faulkner County Births and Deaths YearBirthsDeathsNet Gain , ,

Real Estate Amount: $1,386,433,783 Percent Increase: 0.05 All Property Amount: $420,465,214 Percent Increase: 3.59 Conway City Limits Tax Assessment Values in 2014 REAL ESTATE Amount: $747,888,723 % of Faulkner County: ALL PROPERTY Amount: $980,772,243 % of Faulkner County: Faulkner County Property Tax Assessment in 2014

Per 1,000 in cities whose population is 50,000+ Violent Crime

Per 1,000 in cities whose population is 50,000+ Burglary, Larceny, Vehicle Theft Property Crime

YearRevenue Capital Expenditures Residential Electric Meters % Increase Population Estimate 2015* , , , , , , ,908 *2015 Figures Estimated (In Millions of Dollars) Conway Corporation

Faulkner County ½% Sales Tax Receipts YearAmount Change Over Previous Year 2014$8,272,423$178, $8,094,270-$371, $8,465,586$654,215 YearAmount Change Over Previous Year 2014$12,915,263$104, $12,811,245$ $12,810,355$501,714 Conway 1% Sales Tax Sales Tax Receipts

Faulkner County Estimated Retail Sales for 2014 CityAmount% of Total Conway$1,408,497, % Greenbrier93,714,4215.1% Mayflower46,322,2632.5% Vilonia52,641,3052.8% Guy3,395,2110.2% Damascus12,515,8950.7% Non-Tax Areas*230,094, % Total$1,847,180, %

Conway Hotel Sales

HotelTotal Sales Hilton Garden Inn$2,581,390 Holiday Inn Express1,884,761 Fairfield Inn 1,741,328 Hampton Inn1,497,548 LaQuinta Inn1,267,347 Total$8,972,374 * Based on Advertising and Promotion Tax Top 5 Conway Hotels by 2014 Annual Sales

Conway Restaurant Sales

Restaurant Total Sales Chick-Fil-A$4,419,805 Chili’s Bar & Grill #10674,043,730 Cracker Barrel3,865,830 Golden Corral3,714,666 TGI Friday’s3,408,720 McDonald’s #29917 Salem Rd.3,270,456 McDonald’s #32901 Dave Ward Dr.3,141,075 McDonald’s #2872 Oak St.2,789,307 McDonald’s #10667 Hwy 65 N2,789,307 Marketplace Grill2,604,547 Total$34,056, % of Total Sales Top 10 Restaurants by 2014 Annual Sales

Total Deposits (Billions of Dollars) There are fifteen banking institutions in Faulkner County with 58 offices. Bank Deposits

The top three banking institutions hold 71% of the market share. Bank Market Share Faulkner County

Bank Return on Assets and Equity BankReturn on ssetsReturn on Equity Fort Sill NB First Security Bank Bank of the Ozarks U S Bank Centennial Bank First Arkansas Bank Delta Trust First Service Bank Regions Bank Eagle Bank & Trust Simmons First NB Arvest Bank Bank of America Home Bank of Ark River Town Bank

(in thousands of vehicles) Faulkner County Motorized Vehicle Registrations

Arkansas Severance Tax Revenue In Millions of Dollars

Faulkner County 2014: $296, : $224,455 The City of Conway 2014: $363, : $276, % Increase 32.1% Increase Municipal Highway Severance Tax Distribution

Van Buren1586 White1281 Conway1141 Cleburne993 Faulkner399 Fayetteville Shale 2014 Well Production County Number of Wells 577 total wells have produced a total of 5,538,172,105 Thousand Cubic Feet of Natural Gas

Total since 2010: $2,221,225,338 Arkansas Scholarship Lottery Sales

CityTotalAverage Monthly Conway$9,771,692$814,308 Greenbrier1,924,937160,411 Mayflower1,791,933149,333 Vilonia567,02947,252 Wooster137,62011,468 Total$14,193,211$236, Lottery Sales for Faulkner County Municipalities

Type Total # of Employers Total # of Employees Average Annual Wages Government566,841$36,487 Private2,75333,366$37,159 Total2,80940,207$37,044 Employment & Earnings Faulkner County 2014

CropIncome from Production Sold% Change Beef$10,000, % Greenhouses5,000, Rice2,325, Soybeans2,300, Wheat1,235, Dairy960, Hay800, Corn478, Forestry600, Fruits & Vegetables500, Hogs72, Silage00.0 Total$24,271, % Agricultural Production

Category2013 Statistics% Change Visitors Trips 347, Total Travel Expenditures$82,144, Expenditure per Visitor$ State Tax receipts $5,031, Local Tax Receipts$1,378, Number employed Payroll$15,307, Average Annual Pay $16, The Effects of Tourism on Faulkner County

Questions?

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