2011-08 Faulkner County Business Journal

FULL STORY, PAGE 7

n EDITORIAL

Everything old is new again

O

ne of the best things about living in Conway is experiencing our unique perspective on the changing of seasons. We may currently be in the dog days of summer, but there is a light at the end of the tunnel. How do we know? Because our favorite season is now upon us…

Back to School.

Above all else, Conway is an education town. That means fall, not spring, is our season of renewal. Three colleges. Three new freshman classes. That’s the definition of new life and energy. It’s not just the faces of students that will have changed by mid-August. We are blessed with dynamic institutions committed to sustained improvement.

Central Baptist College estimates an on-campus enrollment of more than 850 students this fall. Not so long ago, their enrollment was less than 500. It’s hard to overestimate the positive impact of that growth. CBC has emerged as a key player in the future of their neighborhood and our economy.

If you haven’t noticed, Hendrix College has spanned Harkrider Avenue seamlessly. This fall, students will be welcomed not only by a traditionally beautiful campus, but by one of central Arkansas’s most exciting commercial developments, the Hendrix Village. In less than four years, Hendrix College has transformed our city’s core. Seeing the Village buzzing with students will be a welcome sight for years to come.

UCA has done more than install college football’s most exciting turf this summer.

They’ve attracted a freshman

class 8 percent larger than last fall’s. They’ve also added curriculum tracks that are attractive to non-traditional students. Starting this fall, a UCA student can complete a degree attending only night classes.

This offers a tremendous opportunity to central Arkansas’s workforce. No college in Arkansas has a higher percentage of traditional undergraduates than UCA. These evening classes represent new markets for our city’s largest college.

Last but not least, our public and private K-12 students will be back in the classroom earning academic accolades and defending athletic championships. Growth is the rule for Conway schools of every type. New facilities are in the pipeline. New opportunities are available for parents or children seeking any educational environment.

We won’t belabor the obvious and spell out all of the reasons education is so crucial to our community and economy. But here are a few quickies. First, it is a major employer. The colleges, universities and school systems employ more than 3,000 people. Second, college students bring new money into this economy the instant they arrive – student loans, graduation money, sometimes even credit cards.

It’s all a shot in the arm economically. Finally, the quality of our educational institutions distinguishes us from so many places in the United States. There is only one reason we’ve got such an educated workforce to offer prospective employers.

It’s our schools, colleges and universities. They alone are our competitive advantage.

2 | FAULKNER COUNTY BUSINESS JOURNAL

Expo, Taste of Conway to help ‘Broadcast’ Business Opportunity

Up to 100 exhibitors. More than 30 restaurants. 800 attendees. It all adds up to a very busy day for local businesses.

The Conway Area Chamber of Commerce will host their annual Business Expo and Taste of Conway September 29th at the Conway Expo Center. This year the day’s events will carry the theme of “Broadcast Your Business.”

The day kicks off with an annual breakfast. Last year 250 area professionals gathered to witness the unveiling of the Conway2025 plan. This year’s breakfast attendees can count on hearing the state of the chamber, Faulkner County’s economy and maybe more. “It’s an exciting way to start the day,”

said Chamber President Brad Lacy. “The breakfast jump starts our expo attendance.

We definitely plan to give all of our attendees something to think and talk about on the expo floor.”

Following breakfast, exhibitors will open up as many as 100 business booths to each other and the public.

Booths will represent essentially every sector of the local economy.

Exhibitors will be encouraged to actively engage in commerce whether it’s a traditional retail transaction or a work order call in from the floor. The expo will last from 9am-3pm and is free to the public.

At 5pm the annual Taste of Conway kicks off. For $15, attendees can sample the best or newest offerings from dozens of area restaurants.

A significant change in this year’s program is the timing of the annual Taste of Conway event. In past years, the event was held the evening prior to business expo.

This year, it will serve as a capstone to the day’s activities. Lacy said that the new schedule makes for a longer, but hopefully more productive day for participating businesses. “We think the agenda offers our members the best environment to showcase their business. Packing the day with relevant information, real business opportunities and great food is a recipe for increased leads and sales.”

For more information about participating in Business Expo or purchasing tickets to Taste of Conway please contact Mary Margaret Satterfield at mary@conwayarkansas. org or 501.327.7788.

High Point Park Apartment to Host Business After Hours High Point Park Apartments is hosting the Conway Area Chamber of Commerce’s quarterly Business After Hours networking event on Monday, Aug. 15, from 5-6:30 p.m. The apartment complex is located at 2270 Meadowlake Road in Conway.

Business After Hours allows members to

strengthen professional relationships and develop new opportunities to work with fellow Chamber members.

The event is free to Chamber members and their employees.

Complimentary hors d’oeuvres and drinks will be served.

Accredited online program to have ‘profound’ impact on CBC For the last five years, Central Baptist College has been drawing more and more students to their campus on College Avenue. Beginning this fall, CBC will deliver an accredited degree program to students around the world.

In July, the Higher Learning Commission of the North Central Association of Colleges and Schools awarded accreditation to CBC’s online program.

CBC is now the only nonprofit college in Arkansas offering a full bachelor’s degree online.

“Approval of our online studies program by the Higher Learning Commission of the North Central Association of Colleges and Schools is a major accomplishment for CBC. It will have a profound impact upon the institution,” said CBC President Terry Kimbrow.

CBC’s initial online course offerings will be an associate degree in general education and a bachelor’s degree in leadership and ministry.

CBC has offered online curriculum in the past, but this fall marks the first time an online student can complete their degree online. The program opens up a vast market of prospective students to the college.

“The primary purpose of

offering distanced-delivered courses and programs at Central Baptist College is to provide access to students who cannot attend face-toface classes on campus,” said Dr. Gary McAllister, Vice President of Academic Affairs at CBC. “Some live too far from campus, and others have scheduling conflicts that prevent them from taking the classes they need. Distancedelivered courses can resolve these issues.”

CBC will employ cutting edge technology to protect the integrity of an online degree. Online students will be required to use an online “proctor” device that employs biometric scanning and a 360 degree view camera during online exams. The device will verify the identity of the registered student record all activities in the room during online exams.

Conway Area Chamber President Brad Lacy said that CBC’s online program is a perfect example of Conway’s successful economic model.

“CBC’s new online program is yet another case of Conway exporting knowledge and

CBC President Terry Kimbrow and Vice President for Academic Affairs Gary McAllister show off the “online proctor” used in CBC new distance learning program. CBC’s online program was recently accredited by the Higher Learning Commission.

importing dollars.

“We are an education town.

This program has the potential to put Conway and Central

Baptist College on a global stage.”

upcoming CEO Luncheon to Feature Air Force Colonel Col. Mike Minihan, commander of the 19th Airlift Wing at the Little Rock Air Force Base, will be the guest speaker at the Conway Area Chamber of Commerce’s upcoming CEO Luncheon. The event is sponsored by Nabholz Construction Services and will take place Monday, Aug. 22, from 11:30 a.m. until 1 p.m. at the BrewerHegeman Conference Center on the

UCA campus.

According to the Little Rock Air Force Base website, Minihan entered the Air Force in June 1989 after receiving his commission through the ROTC program at Auburn University. He completed undergraduate pilot training in 1991 and served as an aircraft commander, instructor pilot and evaluator pilot in the C-130 Hercules.

The colonel commanded an airlift squadron and four deployed expeditionary airlift squadrons. He also held staff assignments at Headquarters Air Force, United States Transportation Command and Headquarters United States Forces Korea. Most recently, Minihan served as Vice Commander, 60th Air Mobility Wing at Travis AFB in California.

CEO Luncheons are open to all employees of Chamber member businesses. Individual tickets are $25 per person. Reserved tables of eight are available for $200.

For reservations, call 501-327-7788 or email GetSmart@ConwayArkansas.org. The reservation deadline is Wednesday, Aug. 19, at noon.

FAULKNER COUNTY BUSINESS JOURNAL | 3

Incoming Freshmen Can ‘Shop Smart’ in Conway

The Conway Area Chamber of Commerce, together with several of its member businesses, is welcoming more than 3,000 incoming freshmen to the Conway area by way of the collegiate Smart Card.

This month, the Smart Card will be distributed to college freshmen on the campuses of Central Baptist College, Hendrix College, the University of Arkansas Community College at Morrilton, and the University of Central Arkansas.

Textbook Brokers is the presenting sponsor for the Smart Card. Jim Batchellor, the owner of the store’s three Conway locations, said that the card is a great way to welcome freshmen to the community and also serves as a promotional tool for businesses.

“We love Conway and are pleased to work with the Conway Chamber on an initiative that will benefit students and the business community,” Batchellor said. “It provides college students with a way to save money, and it gives exposure to participating businesses.”

In previous years, the

Conway Area Chamber of Commerce distributed bags to freshmen filled with promotional items and fliers from local businesses.

Whitney Farris, director of communications at the Chamber, said that the Smart Card is a modern, more environmentally friendly alternative to the “welcome bags.”

“The Smart Card is a greener concept that we anticipate will be a hit among technologically savvy youth,” Farris said. “It saves paper because the fliers are available electronically. Freshmen can redeem their offers simply by presenting their Smart Card to the participating businesses.”

The Smart Card comes in the form of a plastic wallet card and a plastic keychain

tag. Card sponsors and a link to the Smart Card website are printed on the back of the wallet card. The website address and a quick-response, or QR, code are printed on the back of the keychain tag.

Smart Card users who have

smartphones can scan the QR code, which will send them directly to the website that lists the sponsors and participating businesses.

In addition to Textbook Brokers, other card sponsors include Centennial Bank,

Conway Corporation, Sonic Drive-In, First Security Bank, and Country Inn & Suites.

The following Chamber businesses are offering discounts or promotions on the Smart Card: • 24/7 Fitness • Brick Oven Pizza • Centennial Bank • Centerstone Family Dentistry • Conway Corporation • Jazzercise • Mean Bean Café • McAlister’s Deli • Moe’s Southwest Grill • Oak Street Bistro • Old Chicago • Party Metro • Simmons First National Bank • Smoothie King • Sonic Drive-In • Sonshine Academy • Subway • Textbook Brokers • The Ride • Trinity Development • Zaxby’s The discounts and special offers are valid through May 2012. For more information about how to participate in next year’s collegiate Smart Card, contact Whitney Farris at 501-932-5411 or Whitney@ ConwayArkansas.org.

Teacher Breakfast, Fair to Kick off School Year In its seventh year, the Teacher Breakfast and Education Fair has established itself as the official start to the K-12 school year.

On Friday, August 12th more than 1,000 faculty and staff from Conway Public Schools, St. Joseph School and Conway Christian School will be treated to a breakfast and giveaways from area businesses.

This year’s Teacher Breakfast and Education Fair is presented by Conway Corporation.

Crystal Kemp is manager of marketing and public relations for Conway Corporation. Kemp says that the Teacher Breakfast and Education Fair has become a tradition for her staff as well.

“We look forward to sponsoring the Teacher Breakfast each year. The event provides a great opportunity to continue our legacy of promoting education in Conway.”

4 | FAULKNER COUNTY BUSINESS JOURNAL

This year’s event will be held in the cafeteria at Simon Intermediate School on Siebenmorgen Road. Conway Chamber Director of Events Mary Margaret Satterfield said that the event gives businesses an opportunity to thank school employees while marketing their goods and services. “Our educators are busy professionals. They are an important and influential market for businesses to get in front of. The event is fun for the teachers and beneficial for the exhibitors.”

Satterfield said that exhibitor space is limited but that there are still a few slots available for interested businesses. “This event usually sells out. If someone wants to thank our educators and get their business in front of this crowd, we will do our best to get them in.”

Interested businesses should contact Satterfield at mary@conwayarkansas.org or call the Chamber at 501.327.7788.

Natural Gas Industry FuelS Successful Startup Company

Josh Spencer is not afraid to take risks. The Conway native opened a startup company three years ago that now nets close to $10 million annually and employs 80.

Quik-It Enterprises Inc. is a subcontractor for oil and natural gas production companies drilling in the Fayetteville Shale Play Formation. The company has recently added an over-the-road division that hauls a variety of goods.

Before Quik-It, Spencer worked a number of odd jobs to make ends meet. His most recent job was working in the pool and spa business for five years.

“I built swimming pools and fixed hot tubs,” Spencer said. “I made just enough to pay the bills.”

That all changed when different strangers approached him with ideas that eventually led to the founding of Quik-It Enterprises.

“One man told me I should buy a truck and get in the business of moving stuff around,” Spencer said.

“Anything beats building a swimming pool in 110 degrees.”

With a single one-ton pickup truck and a trailer, Spencer began hauling large appliances for the elderly. It was during this venture when another gentleman told Spencer that he could help him secure a master service agreement with a natural gas production company. Always open to new opportunities, Spencer agreed. “Well, let’s do that,” he said.

A month later, Spencer was driving to drilling rigs to haul loads to and away from natural gas fields.

Within the next year, he purchased three additional trucks and trailers, hired his first employee and signed contracts with other oil and natural gas production companies.

Spencer, a cage fighter, had another happenstance encounter while he was attending a mixedmartial-arts event in Dallas, Texas. He met a boxer who worked in the oil and natural gas industry, and the two exchanged contact information. This ultimately led to his acquisition of five, 18-wheeled

trucks used to haul water. Less than a year later, Spencer bought 13 additional tractor-trailers.

As the company grew and began earning more capital, Spencer began to invest in other endeavors, which led to Quik-It Enterprises.

“We just started opening company after company,” Spencer said. “Right now, we have five different

Q

uik-It advocates the idea that a person can come from anywhere and just give it everything he or she has, and we’ll take them as long as they’re trying. Our company is made up of great people who may not have been the firs pick elsewhere.

—Josh Spencer

companies rolling strong, and they are not all involved with the oil and natural gas industry.”

Spencer believes that it is the diversification of offerings and the ability to do something different that has helped his company stay afloat. For example, Quik-It recently added an over-the-road division to haul goods of any kind.

“When Quik-It first began, we were primarily in the business of water transport,” Spencer said. “However, that service became increasingly competitive, so we began to truck sand to the rigs instead.”

During the hydraulic fracturing process, pressurized water and a proppant (usually sand) are used to

coax natural gas from deep shale formations to the surface. Quik-It Enterprises transports sand to rigs within the Fayetteville Shale natural gas field, which includes approximately 25,000 square miles stretching across eight counties in north-central Arkansas.

In addition to sand hauling, Quik-It Enterprises offers the following products and services: • vacuum services • heavy hauling • rig moving • pressure washer services (cellar cleanouts, rig washing, etc.)

• cellar beam transport • high-pressure pipe leasing • hazmat transport • compressor station transport Spencer said that owning and operating his own business has been rewarding, but it comes with challenges.

“There is so much that goes into running a business that can’t be taught,” Spencer said. “There were times when it has been really awesome, and then there were times when I thought I might lose the company.

“But every business has its ups and downs. Sometimes the only thing you can do is lower your head and push right through.”

Spencer admits that he never expected to launch a multi-million dollar corporation when all he had was a pickup truck and a trailer. Because he defied his own expectations, he does the same for others.

“Quik-It advocates the idea that a person can come from anywhere and just give it everything he or she has, and we’ll take them as long as they’re trying,” Spencer said. “Our company is made up of great people who may not have been the first pick elsewhere.”

Quik-It is a local example of how a few calculated risks and a can-do attitude can lead to success in business.

To learn more about the company, its products and services, visit Quik-It.com.

FAULKNER COUNTY BUSINESS JOURNAL | 5

40

Old Morrilton Hwy

Gentry Lake

Robins Lake

Days L

64

TOP 5 RESIDENTIAL home sales

64

yli

Meadowlake Rd

Cadron Valley Country Club

319

Sk

65

Donaghey Ave

Gleason

65

64

5250 Bay Town Drive

1015 Reynolds Ave.

Tyle r St

1515 Summerbrook

r St ride Hark

Centennial Valley Golf Club

Gatlin Park

Mou

Hendrix College

266

Donaghey Ave

Salem Rd

1055 Applewood

Lake Carol-dan

65

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D ne

65 40

ce

Prin

4800 Quarry Drive

Conway

60

St

Laurel Park

Caldwell St

60

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Oak St

E Oak St

60

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Conway Country Club

65

Fifth Avenue Park

Airport Park Central Baptist College Dennis F Cantrell Field

Highway 60 W

286

ADDRESS

Oak Grove Cemetery

SQ. FT.

$/SQ. FT.

YEAR BUILT

CITY

$380,000 4800 Quarry Dr.

5/3.5

Paddington Est.

3,601

$105.53

2003

Conway

$368,500 5250 Bay Town

4/4

The Reserve (CV)

2008

Conway

286

University Of Central Arkansas

3,515

$104.84

Dave Ward Dr

3,298

$95.97

2004

Conway

$306,106 1015 Reynolds Ave. 3/3

The Village at Hendrix

1,921

$159.35

2011

Conway

$304,500 1055 Applewood Cv. 3/3

Applewood Cove

2,700

$112.78

2010

Conway

St

Summerbrook

der

$316,500 1515 Summerbrook 5/4.5

286

arkri SH

BED/BATH SUBDIVISION

60

S Salem Rd

PRICE

365

Brumley 6 Ar-3 5S

CONWAY RESTAURANTS’ KIDS PROMOTIONS 286

MONDAYS

DENNY’S (329-6638): 4-9 Kids 10 and under eat free, one free kids meal per each paying adult.

GUSANO’S PIZZERIA (329-1100): With purchase of adult entrée, kids get a 1.99 8 in. pepperoni or cheese pizza, drink included.

THE FISH HOUSE (327-9901): After 4 kids eat free with purchase of adult dinner.

STOBY’S (327-5447): From 4 to close (11 pm) kids eat free with the purchase of an adult entrée. Limited to 2 kids per one adult.

Tupelo Bayou Site One Reservoir

TUESDAYS

THE FISH HOUSE (327-9901): After 4 kids eat free with purchase of adult dinner.

DENNY’S (329-6638): 4-9 Kids 10 and under eat free, one free kids meal per each paying adult.

STOBY’S (327-5447): From 4 to close (11 pm) kids eat free with the purchase of an adult entrée. Limited to 2 kids per one adult.

WEDNESDAYS

DENNY’S (329-6638): 4-9 Kids 10 and under eat free, one free kids meal per each paying adult.

6 | FAULKNER COUNTY BUSINESS JOURNAL

ZAXBY’S (329-5000): Free Kidz Meals from 4-10 p.m., when you purchase a Most Popular menu item.

THURSDAYS

DENNY’S (329-6638): 4-9 Kids 10 and under eat free, one free kids meal per each paying adult.

MOE’S SOUTHWEST GRILL (3366500): Kids eat free with the purchase of an adult entrée. Dine-in only!

FRIDAYS

DENNY’S (329-6638): 4-9 Kids 10 and under eat free, one free kids meal per each paying adult.

SATURDAYS

DENNY’S (329-6638): 4-9 Kids 10 and under eat free, one free kids meal per each paying adult.

OAK STREET BISTRO (450-9908): Kids eat free all day.

PIZZA INN (327-1900): From 11-2 and 5-9 kids eat buffet for .99.

SUNDAYS

DENNY’S (329-6638): 4-9 Kids 10 and under eat free, one free kids meal per each paying adult.

365

Chamber Kicks Off ‘Paint the Town Purple’ The opening of college football season is only a few weeks away. In the city of Conway, this means it’s time to paint the town purple.

An initiative of the Conway Area Chamber of Commerce, “80 Days of Paint the Town Purple” is designed to foster community pride and show school spirit for the University of Central Arkansas’s football team.

Businesses are encouraged to participate by creating special offers, by showing one of the four televised UCA games, and/or by selling UCA or purple promotional items – known as “Bearaphenalia” – in support of the UCA Bears.

Bart Shaw, vice president of operations at Conway Area Chamber of Commerce, said that Paint the Town Purple is more than adorning the city in the hues of color between red and blue. Home games give hotels, restaurants and retailers a revenue boost, which is a touchdown for Conway’s economy.

“Football games are big business for local businesses,” Shaw said. “The games attract a large number

UCA HOME GAMES Thurs., Sept. 1: Henderson State, 7 p.m.

Sat., Oct. 1: Stephen F. Austin, 6 p.m.

Sat., Oct. 15: McNeese State, 3 p.m.

Sat., Oct. 29: Southeastern Louisiana, 6 p.m.

Sat., Nov. 12: Texas State, 4 p.m.

of people to the city and keep students in town over the weekend. This translates to money spent at local businesses, whether it’s in the form of a meal in a restaurant, an overnight stay at a hotel, or the purchase of a promotional item at a retail store.”

One business that has benefitted from selling UCA merchandise is Haynes Ace Hardware, located on Morningside Drive in Conway.

Brian Porterfield, director of marketing, said that since the hardware store has begun selling logo items, it has seen an increase in its sales and has attracted new customers.

“As a community-minded business, we viewed the sale of UCA gear as another way to support Conway and one of its local schools,” See PURPLE, Page 7

Conway Economy at a Glance Unemployment Rate June 2011 US ....................................9.2% Arkansas............................8.1% Faulkner County .............. 7.8% Conway..............................6.7% Labor Force June 2011 Conway Employed........................26,638 Unemployed.....................1,902 Total................................28,540 Faulkner County* Employed........................53,475 Unemployed.....................4,500 Total................................57,975 *Includes Conway Sales Tax Collections Conway- YTD May 2011........................$3,234,591 2010........................$3,063,154 Percent Change 5.6% Faulkner -Annual* 2010........................$7,834,226 2009........................$7,731,691 Percent Change 1.3% *Tax Rate 0.5% Restaurant Sales* Conway – YTD May 2011......................$61,724,998 2010......................$57,215,520 Percent Change 7.9% Annual Sales 2010....................$139,864,203 2009 ...................$130,911,970 Percent Change 6.8% *Includes mixed drink sales Hotel Sales Conway - YTD May 2011........................$5,691,484 2010 ...................... $5,705,206 Percent Change -2.4% Annual Sales 2010......................$17,590,242 2009..................... $16,404,114 Percent Change 7.2% Building Permits Single Family Residents YTD - July 2011 ........................ 90 permits 2010 ..................... 164 permits Percent Change -45.1% Total for the Year 2010 ..................... 223 Permits 2009 ..................... 259 Permits Percent Change -13.9%

Average Construction Cost* YTD - July 2011.......................... $201,013 2010...........................$171,364 Percent Change 17.3% *Not including land or lot improvements Average Square Footage* YTD - July 2011 ..........................2,820 2010 ..........................2,615 Percent Change: 7.8% *Total under Roof Lottery Sales Faulkner County July..........................$1,346,046 Annual*..................$16,427,525 Annual Per Capita .......$144.87 Total State July .......................$37,721,135 Annual*................$466,437,684 Annual Per Capita........$163.35 *August 1, 2010 – July 31, 2011 Natural Gas Severance Tax Distribution July 2011 Faulkner County...........$17,202 Conway.........................$21,401 2010 Faulkner County.........$171,543 Conway.......................$221,255 Wellhead Price per MCF* May 2011 ................................$4.19 2010 ................................$4.25 2009.................................$3.45 2008...............................$10.82 Yearly Average 2010 ......................... $4.16 2009 ......................... $3.71 2008.......................... $8.07 2007.......................... $6.37 2006 ......................... $6.40 2005 ......................... $7.33 2004 ......................... $5.46 2003 ......................... $4.88 2002 ......................... $2.95 *1000 cubic feet Number of Wells* Faulkner County..................266 Total in Field . ..................3,439 *As of Feb. 17, 2011 Estimated Life Time Value of Production* Total Field.........$8,553,336,233 *As of February 10, 2011

Information provided by pulseofconway.com

Return of College Students BOOSTS LOCAL BUSINESSES

BY ROGER LEWIS

Approximately 14,000 students will enroll this Fall in our three local colleges and will spend over $67 million dollars with local businesses. The impact of this expenditure is estimated at $200 million.

Approximately 9,000 of these students will be living off campus spending money for rent, food and utilities.

In addition to tuition, fees, books, and room and board, students spend money for an array of personal items including prepared food, entertainment and transportation. All of these expenditures are considered cost-of-attendance expenses used in federal financial aid guidelines.

The cost-of-attendance figures average approximately $3,000 per student for transportation and personal items. Using this figure the 14,000 students would spend an estimated $4.2millon.

Room and board costs vary by college and by the living arrangements of the students. Room and board for students living on campus are not included in the estimated student impact on the local econ-

omy. However, students living at home with parents or living independently in apartments or other arrangements have a significant impact on the local economy.

The cost-of-attendance figure for students living independently off campus is approximately $8,000 per year for room and board. Living with parents is much less - approximately one fourth or $2,000. The majority of students living off campus are living independently in apartments and not with parents. The average expenditure for room and board for students living off campus is estimated at $7,000 per year.

The residential housing capacity of the three colleges is approximately 5,000 students, this leaving 9,000 students living off campus, and there is no way to determine their housing arrangements. Using the estimated $7,000 for room and board for living off campus, these 9,000 students will spend $63 million for food and housing. Therefore, the estimated combined expenditure for personal items and transportation for 14,000 students ($4.2million) and room and board for 9,000 off campus students ($63 million) is $67.2 million.

Money spent in the community circulates within the community and results in an effective expenditure of about 3 times the original expenditure. When a merchant makes a

sale or a property owner receives rental income, a percentage of the money is spent locally for employee salaries and operating expenses.

That percentage varies widely depending on the type of business.

The recipients of that money, employees and vendors, again spend a percentage of that locally, and it continues to turn over. The rule of thumb is that an initial expenditure turns over approximately seven times in the community, losing value each time, resulting in an additional secondary expenditure of about twice the original amount. Therefore, the $67.2 million in direct spending produces another $134.4 million in indirect or secondary spending for a total economic impact of approximately $201.6 million.

These student expenditure estimates are based on projected enrollments and cost of attendance figures used in financial aid calculations; the actual figures may vary.

No matter how the actual figures vary from these estimates, the conclusion is that expenditures by students enrolled in our local colleges have a significant impact on our local economy.

Further economic data on Conway and Faulkner County can be found at Pulse of Conway website: www. pulseofconway.com.

PURPLE, from Page 6 Porterfield said. “Each year we look forward to adding new products and plan to grow our inventory as the university’s athletic program grows.”

Starting this season, Ace Hardware will add to its inventory the official shirts UCA coaches wear on the sidelines along with authentic UCA jerseys in both youth and

adult sizes. Beverage coolers embellished with the UCA logo also will be available for the first time this season.

Other Conway businesses that sell UCA merchandise include Bears Den Exxon, Centennial Valley Country Club, The Kitchen Store, Randy’s Athletic Shop, Rose Cottage, Target, Textbook Brokers, both Walmart locations, and the UCA Bookstore.

UCA MERCHANDISE LOCATIONS

Rose Cottage sells cups, glasses and servingware. The store always has “bear” things in stock, though not all of it is licensed UCA gear.

Bears Den Exxon / 2890 Dave Ward Dr. / 329-5916 Bears Den accepts Bearbucks and sells UCA T-shirts.

BJAXX Handbag Outlet / 1600 East Oak St. / 327-6700 BJAXX sells non-licensed T-Shirts, mugs and notebooks.

Centennial Valley Country Club / 1600 Centennial Club Dr. / 513-2522 Centennial Valley sells UCA golf shirts, hoodies and hats.

Haynes ACE Hardware / 1085 Morningside Dr. / 327-2400 ACE sells authentic coaches’ polo shirts, authentic UCA jerseys, tailgate tents, coolers, bags, car flags, chairs, shirts, sweatshirts, license plate covers/frames, magnets, aprons, chef hats and jackets.

Official coaches’ polo shirts and official jerseys in youth and adult sizes are available this year.

Randy’s Athletics / 2585 Donaghey St., Suite 108 / 329-3191 Randy’s sells polo shirts, T-shirts, jackets, sweatshirts and hats.

Rose Cottage / 813 Oak St., Suite 1 / 327-4111

blankets, onesies) and aprons, as well as chocolate-covered sunflowers in a UCA bag.

Target / 501 Elsinger Blvd. / 328-5736 Target sells UCA T-shirts.

UCA Bookstore / 201 Donaghey St. / 450-3166 UCA Bookstore sells everything UCA.

Textbook Brokers Express / 255 Farris Rd. / 450-7646 Textbook Brokers sells apparel, hats, blankets, polo shirts, windbreakers and backpacks.

Walmart / 3900 Dave Ward Dr. / 329-5008 Walmart sells several varieties of shirts, hats and flip flops. The store is expecting more throughout the fall.

The Kitchen Store / 704 Locust St. / 327-2182 The Kitchen Store sells Tervis Tumblers, Bentley Tumblers, baby items (bibs,

Walmart / 1155 Hwy 65 N / 329-0630 Walmart has ladies’ shirts in stock at the moment and is expecting more inventory.

FAULKNER COUNTY BUSINESS JOURNAL | 7