Arkansas Economy

Arkansas has started its fiscal year with the state's revenue coming in higher than expectations and above what was collected the same month last year.

The Arkansas Department of Finance and Administration on Wednesday said the state's net available revenue in July totaled $454.5 million, which was $53.8 million above July 2016 and $10.5 million above forecast.

The department said individual and corporate income tax collections were above forecast and the same month last year. Sales tax collections were slightly below forecast but ahead of July 2016.

The federal agency tasked with economic development in the Delta is without a leader. It’s up to President Donald Trump to appoint a new federal co-chairman for the Delta Regional Authority. The DRA’s supporters are hoping for the President to act quickly so that tens of millions of dollars can be freed up for investment. But the Trump’s budget proposals have called for eliminating the authority entirely.

Arkansas Unemployment Rate Unchanged At 3.4 Percent

Jul 21, 2017

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.

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.

Arkansas finance officials say the state ended its fiscal year with a $15.7 million surplus after a boost in sales tax collections over the past two months helped restore most of the budget cuts enacted earlier.

The Department of Finance and Administration said Wednesday the state ended the fiscal year with $5.3 billion in net available revenue, which was $19 million below the previous fiscal year. Arkansas' fiscal year ended Friday.

Plans Announced For Solar Power Plant In Clarksville

Jun 29, 2017
solar power stuttgart
Entergy Arkansas

A utility that serves about 4,500 commercial, industrial and household customers in Clarksville is partnering with a Little Rock-based solar energy developer to provide about a quarter of that city’s electricity.

The Clarksville Light & Water Company announced its 30-year power purchase agreement with Scenic Hill Solar on Thursday. A solar array will be constructed on about 40 acres of land owned by the city utility. John Lester is the General Manager of Clarksville Light & Water.

In the midst of an overseas trade mission, Gov. Asa Hutchinson spoke to reporters Wednesday about his meetings with industry leaders in Germany and France. Via teleconference from Frankfurt, Germany, Hutchinson said he’s trying to quell anxiety among European business leaders who are concerned about the anti-globalist rhetoric of President Donald Trump.

On this Week-In-Review, we put Arkansas's congressional delegation in the spotlight as Trump ignores the state's agricultural interests on his newly announced Cuba policies. Also, Sen. Tom Cotton dismisses Russia collusion and  Sen. Boozman is short on healthcare specifics.

-Elections were held throughout Arkansas this week: Pulaski County votes to send more money to schools; Pine Bluff takes a stab at revitalization; and Helena-West Helena makes an effort to pare down its sprawling city council.

Sun Paper
Arkansas Governor's Office

Construction is expected to begin in March 2018 for a planned $1 billion pulp mill in south Arkansas.

Members of the Clark County Quorum Court were updated this week on the plans for the pulp mill, which will be built in Arkadelphia.

Amazon is attempting to lure low-income shoppers from Walmart by offering a discount on its pay-by-month Prime membership for people who receive government assistance.

The giant online retailer said in a statement Tuesday that people who have a valid electronic benefits transfer card — used for programs such as the Supplemental Nutrition Assistance Programs, or food stamps — will pay $5.99 per month for a year. Amazon is offering a 30-day free trial for qualifying customers.

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