LITTLE ROCK — State incentives lure Firestone expansion
Arkansas paid Firestone Building Products Co. $1.25 million for permanent site improvements and relocation of equipment to its manufacturing plant in Prescott that was officially opened Monday.
The state also provided a cash rebate equal to 5 percent of payroll for five years and a 6.5 percent sales tax credit, the Arkansas Economic Development Commission said.
Firestone held a ribbon cutting ceremony Monday to celebrate the completion of the $36 million expansion.
Firestone announced in January last year that it would move 100 jobs to Prescott from South Carolina and expand the Arkansas plant.
The project added 52,500 square feet to the facility.
Firestone has about 500 employees in Prescott.
- David Smith
Farming-law center sets 2 workshops
Farmers and ranchers will be able to learn more about agricultural issues ranging from the federal farm bill to crop insurance and other issues at workshops being held in Arkansas by the National Agricultural Law Center.
“This is an opportunity to help equip mid-south farmers with the knowledge they need to navigate their industry in the coming year,” center Director Harrison Pittman said in a release. The center is part of the University of Arkansas System Division of Agriculture. Pittman will present the sessions along with Grant Ballard of the Banks Law Firm, which is sponsoring the sessions.
There is no charge to attend the 10 a.m. to noon sessions. One will be on Nov. 6 at the Grand Prairie Center, 2709 U.S. 165 South, Stuttgart; another on Jan. 31 at the Rowher Research Station on Arkansas 1 just north of its intersection with Arkansas 138 near Kelso in Desha County.
More information is available at (479) 575-7640 or by e-mailing Pittman at hmpittm@uark.edu.
More information about the National Agricultural Law Center is available at www.nationalaglawcenter.org.
- Glen Chase
First Fed gains 1.4%, but index slides 1.11
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, fell 1.11 to 245.12 Monday.
First Federal Bancshares gained 1.4 percent on less than half its average volume.
Dillard’s lost 1.7 percent in below-average trading.
Wal-Mart traded at a 52-week high of $75.55 before closing at $75.25.
Index volume was 21.4 million shares; the average is 24.5 million.
The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business, Pages 19 on 10/09/2012