Arkansas' manufacturing sector has held up fairly well during the coronavirus pandemic: businesses are expanding in various sectors and job growth has started to return.
Major manufacturers like Big River Steel in Mississippi County and Nice-Pak in Jonesboro have forged ahead with significant expansion projects.
Big River wrapped up a $716 million expansion ahead of schedule and will double its production capacity. Nice-Pak, with tremendous demand for its disinfecting wipes during the pandemic, is adding a new manufacturing line and another 176 employees next year. The company already has added more than 100 workers this year to meet consumer demand for the Wet Wipes it produces.
In November, as the state's jobless rate continued to fall, the manufacturing sector reported adding 1,000 jobs in October, the latest figures available. Manufacturing employment, however, is still down more than 16,000 jobs year over year.
To promote manufacturing growth, the Arkansas Economic Development Commission is holding a free webinar Wednesday from 10-11 a.m. A panel of national experts will be on hand for the virtual session to offer tips on Japanese production standards that promote continuous improvement in manufacturing operations.
Small and midsize manufacturers gain insight on increasing productivity and lowering costs by implementing Kata-based leadership and coaching standards. Kata was adopted by Toyota as the auto manufacturer introduced lean production methods that promote a rigorous and methodical approach to problem solving.
During the webinar, Toyota Kata experts from the National Institute of Standards and the Technology Manufacturing Extension Partnership will share tips and guidance to help manufacturing companies implement a Kata culture for their workplace.
The Kata initiative teaches companies how to move from a business-as-usual approach to a teaching and coaching culture that engages and motivates employees to improve their work methods on a daily basis.
For more information or to register, go to https://www.mfgsolutions.org/leader-starter-kata/.
MARKETING LITTLE ROCK
The Little Rock Regional Chamber of Commerce and Entergy Arkansas are partnering on an effort to promote business sites in the area with streaming technology.
The effort supports requests from site location consultants to improve the digital presence of available business development sites and buildings as companies practice social and physical distancing during the covid-19 pandemic. Rather than visit a site in person, consultants can take a virtual tour.
Sites being promoted include two airport business park buildings at 2400 David Grundfest Jr. Drive and a site at 6601 Lindsey Road.
The promotion includes information about the buildings, floor plans and 360-degree visuals from multiple locations in and around the buildings.
"It's a compelling view that you just can't get with standard photography and makes the experience as close to being in the building as possible," said Jay Chesshir, chief executive officer of the Little Rock Regional Chamber.
Entergy also is promoting buildings in Blytheville, El Dorado and Monticello. All the sites can be found at arkansassiteselection.com.
"As we continue to recruit new businesses and seek to help existing businesses expand, these digital products will be a great addition to our efforts," said Entergy Arkansas customer service Manager Barbara Merrick.
APARTMENT SALE
Hidden Valley Apartments, a 46-unit complex in midtown Little Rock, has been sold to area investors for $2.25 million.
Colliers International of Arkansas represented both the seller, HVA Properties, and the buyer, Hidden Valley Investment Properties of Benton.
Located at 225 Keightley Drive, the complex was built in 1983 and features 32 one-bedroom and 14 two-bedroom units. The 3.23-acre site has four buildings, and offers an on-site pool and clubhouse.
"This sale is a great example of the demand for well-located, Class B assets within the Little Rock metro area," said Cole Herget of Colliers. "Its stable occupancy and midtown location will prove to be a lucrative opportunity for the new ownership."
The apartments are just north of the Cantrell Road/Keightley intersection. The complex was 100% occupied when the property was sold.
TELL YOUR STORY
The Walton College of Business at the University of Arkansas is hosting five sessions beginning Tuesday to help companies promote their business with better storytelling.
The Visual Analytics Course is virtual and will be held daily through Saturday. Each session is four hours, and participants must attend four of the five classes to be certified. The cost is $1,910.
The course promotes improved communication through the use of data. Specific topics include: the basics and applications of analytics and visualization; aspects of visualization that work and aspects that may not; applications and consequences of visualization; and caveats associated with data-based decisions.
Information is available at walton.uark.edu.
Instructor Andrew Gibson led operation teams and provided analytic consulting, primarily in supply chain, for 25 years at Nestle SA. He also has experience working with consumer packaged-goods companies, retailers and software firms in helping them drive better decisions across the enterprise.
DEVELOPMENT SUPPORT
The Arkansas Small Business and Technology Development Center has delivered millions of dollars in sales revenue and capital investment to the state, according to a study of the program's economic impact.
Sales growth was 67.1% higher for client businesses compared with the average business in the state, the study found. The study was commissioned by the center.
Clients with established businesses had total sales of $374.9 million and an average increase of almost $1.2 million for the year, while clients who started businesses recorded total sales of $22 million and average sales of $68,495.
The study by Dr. James J. Chrisman, an independent consultant based in Starkville, Miss., found that the Arkansas center's clients secured $183 million in loans and other capital financing with the center's help last year.
"Thanks to our team of professionals across the state, we are able to ensure that the investment provided by our funding partners continues to generate strong economic impact for the state of Arkansas," said Laura Fine, state director for the organization.
The University of Arkansas at Little Rock and six other state universities fund the center, in partnership with the U.S. Small Business Administration.
The program has consulted with more than 2,800 prospective and current business owners in 2020. The center's services are available to businesses from any county in Arkansas, in any industry sector, at any stage of development.
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