The 2009 Faulkner County Economic Report 59 th Annual Report

Dr Pat Cantrell Dean of the college of Business

Giezi Nunez Intern UCA Economics Major UCA Economics Major Amber Hall Project Specialist Office of Institutional Research

Themes 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 A B C’s of Conway Apartments, Banks and Churches

From Cotton To Computers

Cotton was Faulkner County’s Economy

15,130 Bales of Cotton Produced Estimated 33,000 Acres of Cotton Planted 1910 Sale Price Between $75 and $100 per Bale Value of Production Between $1.0 and $1.5 Million Between 14 and 20 Cotton Gins in the County

National Economy

Gross Domestic Product Percent Increase over Previous Year

Comparing GDP to (Chained 2005 Dollars)

4.9% 4.5% 4.2% 4.0% 5.8% 6.0% 5.5% 5.1% 4.6% 5.8% 9.3% 4.7% Unemployment Rate

2009 Monthly Unemployment Rate

Average Annual Unemployment Rate

Consumer Price Index (CPI) 1.6% 2.2% 3.4% 2.8% 1.6% 2.3% 2.7% 3.4% 3.2% 2.8% 3.8% -0.4%

CPI for All Urban Consumers (Seasonally Adjusted) All Items -0.1 Apparel 1.6 Recreation 5.9 Transportation 3.4 Education & Communications 3.2 Housing 3.6 Other Goods & Services 5.4Food 3.7Medical Care 13.9 Energy

Dow Jones Industrial Average Yearend Closing

Family Units Constructed

Value of Building Permits (In Million Dollars)

Faulkner County Real Estate Sales (In Million of Dollars)

Population of Conway and Faulkner County

Faulkner County Births and Deaths per Year YearBirthsDeathsNet Gain Birth to Death Ratio Arkansas Birth to Death Ratio ,540**756** ,392**746** ,481**737** , , , , , , , Ten Year Summary11,7385,2317,

Faulkner County Property Tax Assessment Values 2009 Real Estate All Property Amount % Increase Amount $1,209,386, $1,523,853, Tax Assessment Values in Conway City Limits Real Estate Percent of Faulkner County All Property Percent of Faulkner County $678,313, $891,681,

Cost of Living Comparison CompositeDifference Average Rent Average Home Conway $561$247,176 Fort Smith ,333 Jonesboro ,653 Fayetteville ,399 Hot Springs ,167 Little Rock- N Little Rock ,592 Houston, TX ,848 Dallas, TX ,797 San Jose, CA ,385767,274 National Avg ,980

2008 Violent and Property Crimes per Thousand Population

Conway Corporation Revenues, Capital Expenditures and Number of Customers All Departments Residential Electric Customers Year Revenue (Millions) Capital ExpendituresNumber% Increase Population Estimate 2009$ , , , , , , , , , ,262

Conway Corporation Residential CapitalElectric CustomersPopulation Revenue*Expenditures*Number% IncreaseEstimate 2009$92.6$10.624, , , , , , , , , ,262 * In Million Dollars

Faulkner County Sales Tax Collections Year 1/2% Sales Tax Collections % Change Over Previous Year 2009$7,327, % Change Over Previous Year 2009$11,556, $11,608,915 Conway Sales Tax Collections

Estimated Retail Sales for 2010 Conway $1,190,000,577 Faulkner County $1,546,338,200 77% of all Faulkner County Sales Occur in Conway

Conway Advertising and Promotion Tax Collections Estimated Annual Sales Motel Receipts Prepared Food Sales $17,485,927$16,248,312$123,301,569$130,787,393 Increase Over Previous Year Percent Increase Motel 2% Tax Motel 2% Tax Revenue Prepared Food 2% Tax Revenue Total $349,719$318,502 Total $2,466,032$2,573,883 Increase Over Previous Year

Conway Advertising and Promotion Tax 2% of Hotel and Restaurant Sales % Change % Change Hotels $349,719 $318, % Restaurant$2,466,032 $2,573, %

Hotel Sales % Change % Change $17,485,927$16,248, %

Top Five Hotels by Annual Sales $2,155,681 $1,609,802 $1,434,821 $1,433,577 $1,119,822

Restaurant Sales % Change % Change $124,115,600$130,787, %

Top Ten Restaurant by Annual Sales $3,694,423 $3,317,167 $3,272,989 $3,208,238 $2,758,667 $2,538,645 $2,515,258 $2,498,141 $2,441,970 $2,316,654 Salem Oak Street Hwy. 65 N.

Number of Banking Institutions in Faulkner County and Total Deposits Number of TotalAmount ofPercent InstitutionsOfficesDeposits*Increase*Increase $1,462,019$101, ,374,7158, ,351,95428, ,323,58977, ,245,903139, ,106,67533, ,072,92789, ,62052, * 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 Springs US Bank Simmons 1 st National Bank Bank Home Bank AR River Town Bank National Bank of AR Bank of America st AR Bank Regions Bank Metropolitan National Bank Average

Faulkner County Motor Vehicle Registration 86,889 84,392 80,745 78,677 75,869 75,291 70,703 68,269 66,182 64,775 51,116 39,

Lifetime Production of Wells by County as of September 30, 2009 County Number of WellsMCFEstimated Value Cleburne14636,359,630$275,389,596 Conway401189,877,319$1,401,936,275 Faulkner12641,009,993$306,302,664 Franklin16922,458$6,614,399 Independence152,421,025$19,256,140 Jackson12804,797$5,929,521 Johnson239,585$277,095 Pope304,406,120$32,261,127 Van Buren640270,992,593$2,051,063,876 White556193,038,877$1,444,421,607 Total ,872,397$5,179,106,779

Fayetteville Shale Production 2009 Monthly Production and Estimated Value Date# WellsMCFPrice Estimated Value January137535,097, ,752,171 February144532,338, ,529,599 March152337,832, ,736,547 April159739,304, ,812,768 May165942,425, ,367,437 June172343,266, ,268,080 July180143,650, ,721,681 August188950,058, ,184,230 September192134,772, ,536,491 October200649,861, ,502,314 November208253,935, $196,326,749 Total462,543,981$3.61$1,670,738,068

Number of Gas Wells By Severance Tax Rates ClassificationRateNumber of Wells Marginal Production Wells1.25%2378 New Discovery Wells for 24 months1.50%176 High Cost Wells for 36 Months1.50%45 Full Rate5.00%360

Lottery Sales September 28 to February 28 County Sales Rank Faulkner$8,241,8994 Pulaski45,859,4521 Jefferson11,391,7012 Saline8,545,5083 Washington8,212,2535 State Total $214,451,603

Faulkner County Lottery Vendors Number of VendorsTop Vendor Weekly Sales*Rank** Conway33Bears Den (Salem & Dave Ward)$13,9423 Greenbrier9Satterfield11,20210 Mayflower5Tobacco World of Mayflower23,4931 Vilonia2Miraj Flash Market13,4304 TOTAL49Average Weekly Total all Vendors$415,237 * Weekly Sales for February 2010 ** Rank within Faulkner County’s 49 Vendors

Lottery Sales Per Capita September 28 to February 28 County Sales Per CapitaRank Faulkner$10732 Desha2021 Jefferson1452 Arkansas1413 Sharp1384 Benton2274 Montgomery2275 State Average$59

Income from Agricultural Production SoldCrop 2009 % Change Beef$1,320, Greenhouses5,000, Dairy2,618, Rice1,175, Soybeans3,043, Corn552, Forestry600, Wheat172, Fruits & Vegetables 500, Hay1,800, Hogs120, Silage0 Grain Sorghum 0 Total $16,902,

The Economic Importance of Tourism in Faulkner County 2008 Data % Increase Total Travel Expenditures $81,845, Visitors378, Total Travel Expenditure Per Person $ State Tax Receipts $4,996, Local Tax Receipts $1,373, Number Employed Payroll$15,313, Average Annual Pay $15,

2009 Employment and Earnings for Faulkner County FirmsEmployees Annual Earnings Average Earnings Government375,836$206,090,033$35,314 Private263432,527$1,118,107,650$34,375 Percent Government

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