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65 th Annual Presentation of the Faulkner County 2015 Economic Report.

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Presentation on theme: "65 th Annual Presentation of the Faulkner County 2015 Economic Report."— Presentation transcript:

1 65 th Annual Presentation of the Faulkner County 2015 Economic Report

2 Prepared for Conway Rotary Club Rotary District 6170

3 Dr. Michael Hargis Dean of the College of Business

4 Roger Lewis, Report Author Dr. Pat Cantrell, Report Coordinator N’golo Saliou Ouattara, Undergraduate Intern

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8 Percentage Change Per Select Category, Seasonally Adjusted Category20142015 Apparel-2.0-0.9 Education & Communications0.41.4 Energy-10.6-12.6 Food & Beverage2.00.8 Housing2.52.1 Medical Care3.02.6 Other Goods & Services1.610.7 Recreation0.00.7 Transportation-6.2-4.1

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14 YearBirthsDeathsNet Gain 20141522902620 20131536887649 20121544800744 20111444800644 20101532811734 20091538756782 20081511746765 20071481737744 20061,530726804 20051,398717681 20041365684681

15 Faulkner County Property Tax Assessment in 2015 Real Estate Amount: $1,428,562,513 Percent Increase: 3.04% All Property Amount: $418,460,040 Percent Decrease: -0.5%

16 CitiesComposite Equivalent to $50,000 Salary in Conway Conway 96.050,000 Fayetteville, AR 89.346,510 Hot Springs, AR92.147,969 Jonesboro, AR87.445,521 LR-NLR, AR96.450,208 Memphis, TN85.544,531 New York (Manhattan), NY 225.8117,604 San Jose, CA150.278,229 Seattle, WA 138.271,979 St. Louis, MO 93.148,490 Washington-Arlington, VA 145.975,990 National Average 10052,083

17 Per 1,000 in cities whose population is 50,000+

18 Burglary, Larceny, Vehicle Theft

19 YearRevenue Capital Expenditures Residential Electric Meters % Increase Population Estimate 2016* 111.813.928,0443.9xxx 2015 107.916.326,2090.764,313 2010 95.110.325,2373.058,908 *2016 Figures Estimated (in millions of dollars)

20 Faulkner County ½% Sales Tax Receipts YearAmount Change Over Previous Year 2015$8,951,047$176,938 2014$8,272,423$178,154 2013$8,094,270-$371,317 YearAmount Change Over Previous Year 2015$24,028,355$612,087 2014$23,416,268$180,377 2013$23,235,891$291,728 Conway 1% Sales Tax

21 CityAmount% of Total Conway$1,438,127,62580.3% Greenbrier105,057,2535.9% Mayflower36,907,3212.1% Vilonia47,160,0772.6% Guy4,044,6700.2% Damascus15,342,3790.9% Non-Tax Areas*143,570,0758.0% Total$1,790,209,400100.0%

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24 Total Deposits (Billions of $) There are fifteen banking institutions in Faulkner County with 55 offices.

25 The top three banking institutions hold 70.21% of the market share.

26 (in thousands of vehicles)

27 In millions of $

28 Faulkner County 2015: $211,986 2014: $ 296,411 The City of Conway 2015: $260,270 2014: $363,837 -28.5% Decrease -28.5% Decrease

29 Van Buren1661 White1292 Conway1181 Cleburne1071 Faulkner439 6,233,706,770 Total Thousand Cubic Feet of Natural Gas County Number of Wells

30 Total since 2011: $2,184,187,799

31 CityTotalAverage Monthly Conway$9,927,361$827,280 Greenbrier$2,054,159$171,180 Mayflower$1,743,138$145,261 Vilonia$665,128$55,427 Wooster$125,265$10,439 Total$14,515,108$241,918

32 Employment & EarningsEmployment & Earnings Faulkner County (2015Faulkner County (2015) Type Total # of Employers Total # of Employees Average Annual Wages Government585,081$36,487 Private2,78933,742$37,159 Total2,84738,823$37,044 Employment & Earnings

33 CropIncome from Production Sold% Change 2014-2015 Beef$3,750,000-62.50% Greenhouses5,000,0000.00% Rice168,000-92.78% Soybeans972,000-57.75% Wheat45,000-96.36% Dairy960,0000.00% Hay640,000-20.00% Corn48,000-89.96% Forestry600,0000.00% Fruits & Vegetables500,0000.00% Hogs72,0000.00% Silage00.00% Total$12,755,000-47.45%

34 Category2015 Statistics% Change Visitors Trips 430,128 3.54 Total Travel Expenditures$103,156,6885.16 Expenditure per Visitor$239.831.57 State Tax receipts $6,161,8105.36 Local Tax Receipts$1,721,4965.37 Number employed1,0611.73 Payroll$19,041,6855.22 Average Annual Pay $17,9473.44

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