Arkansas Economy

Local & Regional News
2:26 pm
Tue December 2, 2014

Arkansas Reports Incease In Revenue For November

Arkansas finance officials say a rise in sales and income tax collections last month pushed the state's revenue above last year's figures and expectations.

The Department of Finance and Administration on Tuesday said the state's net available revenue in November totaled $391.1 million, which was $41.4 million above the same month last year and $24.8 million above forecast.

The state's revenue for the fiscal year that began July 1 totaled $2.1 billion, which is $24.8 million above forecast.

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Local & Regional News
12:26 pm
Mon December 1, 2014

Big River Steel: Suit Alleging Clean Air Act Violations Has No Merit

Gov. Mike Beebe and other officials at the September groundbreaking for the Big River Steel mill.
Credit Johnathan Reaves / KASU News

A challenge to a $1.3 billion steel mill in Mississippi County could face additional hurdles if a suit against the superproject goes forward, attorneys for Big River Steel said in court papers late last week.

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Local & Regional News
12:27 pm
Fri November 21, 2014

Arkansas Unemployment Falls To Lowest Level Since 2008

Arkansas’s unemployment rate dropped to its lowest point in nearly six years sitting at six percent in October, according to a report released Friday by the Department of Workforce Services. At this point last year the unemployment rate was 7.6 percent.

Michael Pakko, an economist with the University of Arkansas at Little Rock, said the latest report is another encouraging sign of growth.

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Local & Regional News
1:14 pm
Thu November 20, 2014

Delta Regional Authority Invests $1.3 Million In Arkansas Economic Projects

The Delta Regional Authority will invest $1.3 million into eight projects across Arkansas – grant money aimed at boosting economic development in rural parts of the state. Leaders said the money will help create or retain 1,050 jobs.

The eight projects and funding include:

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Local & Regional News
5:42 pm
Tue November 18, 2014

Osceola’s Infrastructure Upgrades Linked To Big River Steel, Other Projects

A new or renovated airport, as well as improvements to the city’s water and sewer system, are near and long-term goals for Osceola’s economic future, the town’s mayor said Tuesday.

Dickie Kennemore said council members met Monday with officials with Little Rock-based McClelland Engineering about the water/sewer projects as well as voted to hire North Little Rock-based firm, Garver Engineering, to complete a feasibility study on the airport issue.

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Local & Regional News
11:23 am
Tue November 18, 2014

Consumer Confidence In Arkansas On The Rise, Still Trails Rest Of U.S.

Arkansans were feeling better about the state of the economy heading into the fall, rebounding from negative sentiments earlier this summer when consumers across the state were feeling gloomy about their current economic conditions and long-term prospects, according to the Fall 2014 Arvest Consumer Sentiment Survey released Tuesday (Nov. 18).

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Local & Regional News
4:28 pm
Thu November 6, 2014

Uber Opens Shop As Little Rock Officials Call The Ride-Sharing Platform Illegal

The Uber app connects passengers with drivers using personal cars who are not direct employees.

There is now another option besides taxis and buses to motor around Little Rock but it may not be legal. The ride-sharing service Uber began operations in Little Rock Thursday. It connects would-be passengers and drivers using personal cars through a mobile app.

In recent months the city of Little Rock has been crafting a new ordinance to regulate Uber’s operation with their input.

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Local & Regional News
12:47 pm
Tue November 4, 2014

Healthy October Pulls Arkansas Tax Revenues Ahead Of Last Year

October state tax collections rose a healthy 8.1% above last year and pulled 4.7% above forecast, but that simply moved year-to-date numbers into a slightly better position.

The Arkansas Department of Finance and Administration released its October revenue report that showed net available general revenues totaling $402.8 million for the month, up $30.0 million above last year and $18.2 million above forecast.

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Local & Regional News
11:32 pm
Tue October 28, 2014

Steel Firm Picks Osceola For $20 Million Plant, 45 New Jobs

The Material Works Ltd. announced Tuesday it will build an advanced flat rolled toll processing center adjacent to the new Big River Steel mill in Osceola, Arkansas.

Construction will begin in second quarter 2015 with the facility expected to be fully operational to coincide with Big River Steel’s opening in 2016. TMW will invest approximately $20 million in the new facility where 45 new jobs will be created.

Great River Economic Development official Clif Chitwood said Tuesday that Osceola and Mississippi County have been busy in recent years due to persistence.

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Local & Regional News
4:32 pm
Thu October 23, 2014

State Chamber CEO Says Next Governor Needs Workforce Czar On Day One

The state of Arkansas definitely has room to improve in battling other states in the region for economic development projects and the day-to-day economy, Arkansas State Chamber of Commerce president Randy Zook said Thursday. He also declared that the next Governor needs to create a “workforce czar” or an empowered panel on Day One.

Zook spoke to several regional economic development and community leaders early Thursday at the Jonesboro Regional Chamber of Commerce office.

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