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The 2010 Faulkner County Economic
Report
60th Annual Report
Dr. Pat Cantrell
Dean of the College of Business
David TeasterIntern
UCA Economics Major
Amber HallProject Specialist
Office of Institutional Research
Themes
2009- From Cotton to Computers
2008 - Conway and Oasis In Arkansas
2007 - We Have Gas2006 - Conway is Growing and You Can Bank on it2005 – The Billion Dollar
Economy2004- ABC’s of Conway
(Apartments, Banks and Churches)
National Economy
Gross Domestic Product
Percent Increase over Previous Year
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
4.5% 4.4%4.8%
4.1%
1.1%1.8%
2.5%
3.6%3.1%
2.7%
1.9%
0.0%
-2.6%
2.8%
Unemployment Rate
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
4.0%4.7%
5.8%6.0%5.5%5.1%
4.6%4.6%
5.8%
9.3%9.4%
2010 Monthly Unemployment Rate
Januar
y
Febru
ary
Mar
chApril
May
June
July
August
Septe
mber
Oct
ober
Novem
ber
Decem
ber0.0
2.0
4.0
6.0
8.0
10.0
12.0
9.4 US
7.9 Arkansas
6.8 Faulkner5.8 Conway
Average Annual Unemployment Rate
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 20100.0
2.0
4.0
6.0
8.0
10.0
12.0
9.7 US
7.4 Faulkner7.7 Arkansas
6.3 Conway
Consumer Price Index (CPI)
2005 2006 2007 2008 2009 2010
3.4
2.52.8
3.8
-0.4
1.6
CPI for All Urban Consumers
(Seasonally Adjusted)2009 2010
Energy -18.4 7.3
Medical Care 3.2 2.9
Food 1.9 1.8
Other Goods & Services 6.7 1.9
Housing 0.4 0.4
Education & Communications 3.0 1.2
Transportation -8.3 5.4
Recreation 0.9 -0.6
Apparel 1.0 0.0
All Items -0.4 1.6
Dow Jones Industrial AverageYearend Closing
1985
1987
1989
1991
1993
1995
1997
1999
2001
2003
2005
2007
2009
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000 13,265
8,776
11,578
Family Units Constructed
2003 2004 2005 2006 2007 2008 2009 2010
645502 488 407 314
192 259 223
2014 24
27 90
52 28 58
70224
1010
16844
689846
668
Single Family Duplex Multi-Family
1133
760
1532
602448
933
735
949
Value of Building Permits (In Million Dollars)
20002001200220032004200520062007200820092010
8798 104
136 141
199
159
120141 146 151
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
251 257 278
347
432
489 504529
348312
393
Faulkner County Real Estate Sales(In Millions of Dollars)
Population of Conway and Faulkner County
1950 1960 1970 1980 1990 2000 2005 2010
8,600 9,791 15,51020,375
26,326
43,16752,262
58,908
25,289 24,30331,578
46,192
60,006
86,014
104,500113,237
Conway Linear (Conway)Faulkner County Linear (Faulkner County)
52% of Faulkner County’s population reside in Conway
Faulkner County Births and Deaths per Year
Year Births DeathsNet Gain
Birth to Death Ratio
Arkansas Birth to Death Ratio
2010 1,545 811 734 1.9 1.5
2009 1,540 756 784 2.0 1.5
2008 1,392 746 646 1.9 1.5
2007 1,481 737 717 2.0 1.5
2006 1,530 726 807 2.1 1.4
2005 1,398 717 736 1.9 1.4
2004 1,365 684 681 2.0 1.3
2003 1,314 685 629 1.9 1.3
2002 1,314 668 646 2.0 1.3
2001 1,202 616 586 2.0 1.3
Ten Year Summary 11,738 5,231 7,368 2.0 0
Faulkner County Property Tax Assessment Values 2010Real Estate All Property
Amount%
Increase Amount%
Increase$1,257,743,19
7 4.0$1,597,539
,477 4.8
2010 Tax Assessment Values in Conway City Limits
Real Estate
Percent of Faulkner
CountyAll
Property
Percent of Faulkner County
$708,741,482 56.40
$914,665,405 57.30
Cost of Living Comparison
Composite Difference
Average Rent
Average Home
Conway 86.6 0.0 $525 $245,802
Fort Smith 86.1 -0.5 $458 $236,080
Fayetteville 92.1 5.5 $587 $231,964
Hot Springs 93.8 7.2 $612 $259,383
Little Rock- N Little Rock 96.5 9.9 $746 $261,610
San Francisco 164.0 77.4 $2,264 $813,300
Houston, TX 92.2 5.6 $858 $224,048
Dallas, TX 91.9 5.3 $702 $197,358
San Jose, CA 156.1 69.5 $1,537 $781,361
National Avg. 100.0 13.4 $810 $293,442
2009 Violent and Property Crimesper Thousand Population
Conway Fayetteville Jonesboro Little Rock Arkansas US
4.5 4.3 4.6
14.5
5.2 4.6
43.438.7
47.7
82.4
37.732.1
Violent Crimes Property Crimes
MurderRapeRobberyAggravates Assault
BurglaryLarceny-theft
Motor Vehicle Theft
Conway CorporationRevenues, Capital
Expenditures and Number of Customers
All DepartmentsResidential
Electric Customers
YearRevenue(Millions)
Capital Expenditures Number % Increase
Population Estimate
2010 $95.1 $10.3 25,237 3.2 58,908
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
2.33 Residents per Residential Electric Meter
Faulkner County Sales Tax Receipts
Year1/2% Sales Tax
ReceiptsChange OverPrevious Year
2010 $7,472,974 $145,899
2009 $7,327,074 -$80,842
2008 $7,407,916
Year 1% Sales Tax
CollectionsChange Over
Previous Year 2010 $12,102,898 $546,5642009 $11,556,334 -$52,5812008 $11,608,915
Conway Sales Tax Receipts
Estimated Retail Sales for 2010
Conway $1,249,605,828
Faulkner County $1,566,845,200
80% of all Faulkner County Sales Occur in Conway
Conway Advertising and Promotion Tax
2% of Hotel and Restaurant Sales
2009 2010 % Change
Hotels $318,502 $347,602 9.1%
Restaurant* $2,573,883 $2,627,481 2.1%
Total $2,892,385 $2,975,083 2.9%* Does not include tax on alcoholic beverages for 2010
Motel Sales21 Hotels and One Bed and
Breakfast % Change
2010 $17,5920,240 7.2%
2009 $ 16,404,114 -6.2%
2008 $17,485,927
Top Five Hotels by Annual Sales
$2,521,545
$1,581,092
$1,449,652
$1,434,895
$1,325,391
1. 4.
5.2.
3.
Restaurant SalesIncludes Alcoholic Beverage Sales
Sales % Change
2010 $140,014,531 7.0%
2009 $130,911,971 5.5%
2008 $124,115,600
Top Ten Restaurant by Annual Sales
(Does not include alcoholic beverage sales)1.
4.
8.
5.
7. 9.
6.
2. 3.
10.
$3,950,036 $3,690,003 $3,625,022
$3,611,524 $3,202,551 $2,940,872
$2,763,293 $2,662,961$2,644,305
$2,611,287
Salem
Oak Street
Hwy. 65 N.
Dave Ward Drive
Number of Banking Institutions in Faulkner County and Total Deposits
Number of Number of Total Amount of Percent
Institutions Offices Deposits* Increase* Increase
2010 15 58 $1,582,979 $120,960 8.3
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
* In Million Dollars
Market Share of Faulkner County Bank
DepositsCentennial Bank
First Security Bank
Regions Bank
Metropolitan Bank
Bank of America
Simmons
Arvest Bank
Bank of the Ozarks
Home Bank of Arkansas
First Service Bank of Greenbrier
National Bank of Arkansas
First Arkansas Bank & Trust
US Bank
River Town Bank
Heber Springs State Bank
0 5 10 15 20 25 30 35
32.723.6
12.54.44.24.13.9
3.23.1
2.51.81.51.4
0.90.2
Bank Earnings of Institutions Represented in Faulkner County (Year to Date as of June 30)
%Return on Assets
2009 2010
Bank of Ozarks 1.42 1.94
1st Security Bank 1.30 1.93
1st Service Bank 1.13 1.61
Centennial Bank 0.14 1.30
Heber Springs 1.05 1.05
First Service Bank 1.30 1.02
US Bank 0.85 0.98
River Town Bank 0.53 0.91
Simmons First National Bank 0.73 0.84
Bank of America 0.47 0.44
National Bank of Arkansas 0.49 0.34
Arvest Bank 0.62 0.30
Home Bank of Arkansas 0.53 -0.32
Regions Bank -0.22 -0.35
Metropolitan National Bank -5.04 -.71
Average 0.35 0.75
Faulkner County Motor Vehicle Registration
(In Thousands of Vehicles)
1990
1995
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
39.0
51.1
64.866.268.370.775.375.978.780.784.486.989.1
2010 Natural Gas ProductionBy County
(Through November 10, 2010)
County Number of Wells MCF Estimated Value
Cleburne 372 83,037,287 $338,600,980
Conway 638 145,299,782 $601,454,088
Faulkner 251 45,438,300 $186,840,230
Franklin 21 139,005 $581,828
Independence 43 5,010,237 $20,572,201
Jackson 25 3,465,135 $14,539,021
Johnson 6 0 $0
Pope 41 2,741,689 $11,499,862
Van Buren 947 216,441,863 $898,812,006
White 876 201,661,079 $840,753,040
Total 3229 703,234,327 $2,913,653,257
3229 wells with $2.9 billion production
Severance Tax RevenueYear Gross
Revenue
2010 $54,484,821
2009 $27,468,970
2008 $1,314,723
2007 $800,330
2006 $603,753
2005 $530,737
2004 $516,136
2003 $506,136
Lottery SalesAnnual Sales 2010
County Sales Rank
Faulkner $17,448,701 5
Pulaski $93,399,321 1
Jefferson $21,671,772 2
Washington $18,894,036 3
Saline $18,019,061 4
State Total $459,916,256
Arkansas Scholarship Lottery Monthly Sales
2009 2010 2011 Percent
Change
October $39,311,623 $36,716,063 -6.6
November $43,538,309 $35,501,321 -18.5
December $41,292,333 $39,762,737 -3.7
January $40,187,052 $39,663,372 -1.3
February $44,980,222 $40,523,209 -9.9
2010 Annual Lottery Sales Per Capita
CountySales Per
Capita RankPer Capita
Income Rank
Faulkner $163 30 10
Dallas $397 1 52
Nevada $369 2 73
Arkansas $345 3 5
Jefferson $277 6 27
Conway $272 7 20
Montgomery $45 75 74
State Average $267
2009 Employment and Earnings for Faulkner
County
Firms EmployeesAnnual
EarningsAverage Earnings
Government 58 6,406 $261,327,564 $40,794
Private 2,635 31,725 $1,090,451,700 $34,372
Total 2,693 38,131 $1,351,779,264 $38,133
Percent Government
2.2 16.8 19.3 107
Any Questions?
Thank You