Arkansas Business

Hope Union Pacific
Michael Hibblen / KUAR News

Union Pacific Corp., which operates more than 1,300 miles of railroad track in Arkansas, announced plans to cut up to 750 jobs that will impact management and administrative positions across the company’s operations.

According to an 8K filing with the Securities and Exchange Commission (SEC), Union Pacific’s board of directors approved and initiated the personnel reorganization plan to further its “ongoing efforts to increase efficiency and more effectively align company resources.”

An online company that delivers groceries is making its way into the central Arkansas market tomorrow, hoping to appeal to customers by changing the way they view shopping. 

The San Francisco-based company Instacart, already in 33 states and the nation’s capital, is expanding into markets across the country at a rapid pace.

rice fields
Mickey Liaw / Flickr.com

After efforts to normalize trade relations between the United States and Cuba were stalled by President Donald Trump, members of Arkansas’s Congressional Delegation have set their sights on a new trade partner: China.

Gov. Asa Hutchinson is beginning a two-day agriculture tour of farms in the rice-producing regions of east and northeast Arkansas. A statement from the governor’s office says he plans to discuss critical issues for the agriculture community, including flooding this year, row crop farming, and the possibility of rice sales to China.

North Little Rock Mayor Joe Smith
Michael Hibblen / KUAR News

North Little Rock voters will decide the fate of a proposed sales tax increase Tuesday. If approved, the city’s portion of sales tax revenue would increase from one percent to two percent, adding another penny to every dollar of taxable items. Half the increase would be permanent, but the other half cent would last for only the next five years.

Kenny Wallis, a conservative activist and North Little Rock resident, has campaigned against tax increases in central Arkansas since 2011.

The Arkansas Department of Workforce Services says the state’s unemployment rate remained stable in June, at 3.4 percent. That rate remains lower than the national unemployment rate, which ticked upward by a tenth of a percent to 4.4 percent for the month.

The DWS says the civilian labor force grew by about 9,000 in June to 1.36 million people—which also represents an increase of about 20,000 over the same period last year.

NASA

NASA’s presence in Arkansas may be increasing thanks to recent grants and potential contracts.

Earlier this month the University of Arkansas was awarded two grants by NASA to fund space technology research, one of which could include conducting experiments on the International Space Station. Following that announcement, Governor Asa Hutchinson probed Space X CEO Elon Musk for his thoughts on the federal space program at last week’s meeting of the National Governors Association.

The Arlington Hotel
www.arlingtonhotel.com

A group from Little Rock is acquiring the Arlington Hotel in Hot Springs for an undisclosed amount of money.

The Hot Springs Sentinel-Record newspaper reported Monday that Sky Capital Group LP is buying the state's largest hotel from Southwest Hotels Inc., which has operated the hotel since 1954.

The Arlington Hotel has 478 rooms, along with a spa, a bathhouse, a convention center, ballroom and lobby bar. Sky Capital also operates the Four Points Sheraton in Little Rock.

Low unemployment, affordable housing, strong healthcare access and below-average poverty rates are the positives in the Little Rock Metropolitan area. Some negatives: a high crime rate, fewer professional and technical jobs than other cities, low employment specialization, and slow growth in the ratio of large to small businesses. That’s according to the University of Arkansas at Little Rock Arkansas Economic Development Institute’s fourth annual Little Rock Metro Report Card, released Thursday.

Flooding Black River Pocahontas
KATV, Channel 7 News

New facilities are being opened to provide assistance for people and businesses impacted by the destructive storms that hit parts of Arkansas in the spring. Centers opened last week in Fayetteville, Conway, Pocahontas, and Walnut Ridge to serve people from 16 counties who are eligible for government aid.

Daniel Green with the Federal Emergency Management Agency works with victims of the storms to expedite the process of receiving loans and other government aid.

Governor Asa Hutchinson AEDC Mike Preston
Michael Hibblen / KUAR News

Gov. Asa Hutchinson and economic development officials are planning a week-long trip to France, Germany, and Israel to invite new foreign businesses to Arkansas and bolster economic relationships with international businesses already in the state. 

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