The 2009 Faulkner County Economic Report 59 th Annual Report.

The 2009 Faulkner County Economic

Report

59th Annual Report

Dr Pat CantrellDean of the college of Business

Giezi NunezIntern

UCA Economics Major

Amber HallProject Specialist

Office of Institutional Research

FromCotton

ToComputers

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

4.24.5

3.7

0.8

1.6

2.5

3.6

2.32.8

2.0

1.3

-2.4

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

Comparing 2008-09 GDP to 1981-82

(Chained 2005 Dollars)

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4-0.7

1.5

-2.7

-5.4

-6.4

-0.7

2.2

5.9

8.6

-3.2

4.9

-4.9

-6.4

2.2

-1.5

0.3

2008-09 1981-82

Q4Q1

4.9%4.5%4.2%4.0%

5.8%6.0%5.5%5.1%

4.6%4.6%

5.8%

9.3%

4.7%

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Unemployment Rate

2009 Monthly Unemployment Rate

Januar

y

Febru

ary

Mar

chApril

May

June

July

August

Septe

mber

Oct

ober

Novem

ber

Decem

ber0

2

4

6

8

10

12

U.S.

Arkansas

Faulkner

Conway

10.0

6.6

7.7

5.9

Average Annual Unemployment Rate

2000 2001 2002 2003 2004 2005 2006 2007 2008 20090.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

9.0

10.0

US

Arkansas

Faulkner

Conway

9.3

7.0

6.2

5.3

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%

19981999

20002001

20022003

20042005

20062007

20082009

CPI for All Urban Consumers(Seasonally Adjusted)

 -0.43.8 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 Care13.9Energy

20092008

1.0

0.9

-8.3

3.0

0.4

6.7

1.9

3.2

-18.4

Dow Jones Industrial AverageYearend Closing

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

8,776

13,265

10,428

Family Units Constructed

2003 2004 2005 2006 2007 2008 2009

645502 488 407 314

192 259

2014 24

27 90

52 28

70224

1010

16844

689846

Single Family Duplex Multi-Family

1133

760

1532

602 448

933735

Value of Building Permits (In Million Dollars)

8798 104

136 141

199

159

120141 146

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Faulkner County Real Estate Sales

(In Million of Dollars)

262221

257 278

347

432489 504

529

348312

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Population of Conway and Faulkner County

1960 1970 1980 1990 2000 2005 2010

9,791 15,510 20,37526,326

43,16752,262

60,000

24,30331,578

46,192

60,006

86,014

104,500

120,000

Conway Linear (Conway)Faulkner County Linear (Faulkner County)

Cost of Living Comparison

Composite

Difference

Average Rent

Average Home

Conway 88.7 0.0 $561 $247,176

Fort Smith 85.0 -3.7 471 222,333

Jonesboro 87.3 -1.4 564 227,653

Fayetteville 91.3 0.0 605 233,399

Hot Springs 92.9 1.6 587 264,167

Little Rock- N Little Rock 94.7 3.4 725 244,592

Houston, TX 89.5 -1.8 834 216,848

Dallas, TX 92.3 3.6 712 207,797

San Jose, CA 155.4 66.7 1,385 767,274

National Avg. 100.0 8.7 794 304,980

2008 Violent and Property Crimesper Thousand Population

Conway Fayetteville Jonesboro Little Rock Arkansas US

3.9 4.5 4.3

12.55.0 4.6

47.1

37.3

50.3

79.8

38.632.1

Violent Crimes Property Crimes

Conway CorporationRevenues, Capital

Expenditures and Number of Customers

All DepartmentsResidential

Electric Customers

YearRevenue(Millions)

Capital Expenditures Number % Increase

Population Estimate

2009 $92.6 10.6 24,464 4.3 60,671

2008 85.6 9.7 23,453 1.7 58,163

2007 84.4 9.6 23,062 3.3 57,194

2006 81.1 7.9 22,316 5.8 55,344

2005 70.9 9.0 21,102 3.4 52,262

Faulkner County Sales Tax Collections

Year1/2% Sales Tax

Collections% Change OverPrevious Year

2009 $7,327,074 -1.1

2008 $7,407,916

Year @1%% Change Over Previous Year

2009 $11,556,334 -0.52008 $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

2% of Hotel and Restaurant Sales

2008 2009 % Change

Hotels $349,719 $318,502 -7.1%

Restaurant $2,466,032 $2,573,883 +5.4%

Hotel Sales

2008 2009 % Change

$17,485,927 $16,248,312 -7.1%

Top Five Hotels by Annual Sales

$2,155,681

$1,609,802

$1,434,821

$1,433,577

$1,119,822

1. 4.

5.2.

3.

Restaurant Sales

2008 2009 % Change

$124,115,600 $130,787,393 +5.4%

Top Ten Restaurant by Annual Sales

1.

4.

8.

5.

7. 9.

6.

2. 3.

10.

$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 Number of Total Amount of Percent

Institutions Offices Deposits* Increase* Increase

2009 15 57 $1,462,019 $101,304 7.4

2008 15 58 1,374,715 8,761 0.6

2007 15 57 1,351,954 28,365 2.1

2006 15 52 1,323,589 77,686 6.2

2005 14 48 1,245,903 139,228 12.6

2004 14 48 1,106,675 33,748 3.1

2003 14 46 1,072,927 89,307 9.1

2002 13 38 983,620 52,699 5.7

* In Million Dollars

Market Share of Faulkner County Bank

DepositsCentennial Bank

First Security Bank

Regions Bank

Simmons Bank

Bank of America

Bank of the Ozarks

Metropolitan Bank

Arvest Bank

First Srv. Bnk. Greenbrier

Hone Bank of Arkansas

National Bank of Arkansas

US Bank

First Arkansas Bnk & Trust

River Town Bank

Heber Springs State Bank

0 5 10 15 20 25 30 35

30.822.7

14.44.64.54.24.1

3.33.12.7

1.71.41.30.9

0.2

Bank Earnings of Institutions Represented in Faulkner County (Year to Date as of June 30)

%Return on Assets

2008 2009

Bank of Ozarks 1.23 1.42

1st Security Bank 0.97 1.30

1st Service Bank 1.21 1.30

Centennial Bank 1.67 1.13

Heber Springs 1.20 1.05

US Bank 1.82 0.85

Simmons 1st National Bank 1.36 0.73

Bank 1.01 0.62

Home Bank AR 0.57 0.53

River Town Bank 0.69 0.53

National Bank of AR 0.08 0.49

Bank of America 0.51 0.47

1st AR Bank 1.24 0.14

Regions Bank 0.88 -0.22

Metropolitan National Bank 0.66 -5.04

Average 1.01 0.35

Faulkner County Motor Vehicle Registration

86,88984,392

80,74578,67775,869

75,29170,703

68,26966,182

64,775

51,116

39,001

1990

1995

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

Lifetime Production of Wells byCounty as of September 30,

2009County

Number of

Wells MCF Estimated Value

Cleburne 146 36,359,630 $275,389,596

Conway 401 189,877,319 $1,401,936,275

Faulkner 126 41,009,993 $306,302,664

Franklin 16 922,458 $6,614,399

Independence 15 2,421,025 $19,256,140

Jackson 12 804,797 $5,929,521

Johnson 2 39,585 $277,095

Pope 30 4,406,120 $32,261,127

Van Buren 640 270,992,593 $2,051,063,876

White 556 193,038,877 $1,444,421,607

Total 1944 739,872,397 $5,179,106,779

Fayetteville Shale Production 2009 Monthly Production and Estimated Value

Date # Wells MCF Price   Estimated Value

January 1375 35,097,509 5.15 180,752,171

February 1445 32,338,846 4.16 134,529,599

March 1523 37,832,405 3.72 140,736,547

April 1597 39,304,014 3.43 134,812,768

May 1659 42,425,344 3.45 146,367,437

June 1723 43,266,110 3.45 149,268,080

July 1801 43,650,636 3.43 149,721,681

August 1889 50,058,672 3.14 157,184,230

September 1921 34,772,771 2.92 101,536,491

October 2006 49,861,754 3.60 179,502,314

November 2082 53,935,920 3.64 $196,326,749

Total 462,543,981 $3.61 $1,670,738,068

Number of Gas Wells By Severance Tax Rates

Classification Rate Number of Wells

Marginal Production Wells 1.25% 2378

New Discovery Wells for 24 months 1.50% 176

High Cost Wells for 36 Months 1.50% 45

Full Rate 5.00% 360

Lottery SalesSeptember 28 to February

28County Sales Rank

Faulkner $8,241,899 4

Pulaski 45,859,452 1

Jefferson 11,391,701 2

Saline 8,545,508 3

Washington 8,212,253 5

State Total $214,451,603

Faulkner County Lottery Vendors

Number of Vendors Top Vendor

Weekly Sales* Rank**

Conway 33 Bears Den (Salem & Dave Ward) $13,942 3

Greenbrier 9 Satterfield 11,202 10

Mayflower 5 Tobacco World of Mayflower 23,493 1

Vilonia 2 Miraj Flash Market 13,430 4

TOTAL 49 Average Weekly Total all Vendors $415,237

* Weekly Sales for February 2010

** Rank within Faulkner County’s 49 Vendors

Income from Agricultural Production Sold

Crop   2009 % Change 2008-2009Beef $1,320,000 -89.00Greenhouses 5,000,000 0.00Dairy 2,618,000 -21.43Rice 1,175,850 -37.79Soybeans 3,043,372 -8.47Corn 552,720 -42.43Forestry 600,000 0.00Wheat 172,427 -71.50Fruits & Vegetables 500,000 0.00Hay 1,800,000 12.50Hogs 120,000 19.05Silage 0Grain Sorghum 0Total   $16,902,369 -43.49

www.pulseofconway.com

Any Questions?

Thank You