Oaklawn minimum wage to rise to $16
Oaklawn Racing Casino Resort announced Thursday it will raise its minimum wage to $16 an hour for all non-tipped hourly employees who are, or will be, fully vaccinated against covid-19.
The move, which will be effective Oct. 10, comes about two years after the Hot Springs attraction raised its minimum wage to $13 an hour.
What could amount to a 23% pay raise for some underscores the continuing difficulty the hospitality industry and other employers have in filling job openings amidst a sharp spike in covid-19 deaths and hospitalizations.
"We live in challenging times," Oaklawn President Louis Cella said in the announcement. "We are struggling to fill open positions and covid is still hanging on."
The vaccine incentive, which the announcement called unprecedented, also will boost the pay of tipped hourly employees to $8.50 an hour. Salaried employees will receive a 3% raise.
"With the vaccine incentive, we are looking to change the financial health of our current and future team members," Cella said. "Most importantly, Oaklawn believes in protecting the health of our team members, their families and our community."
-- Noel Oman
Tyson plans to build $300M Virginia plant
Tyson Foods on Thursday said it will build a $300 million factory in Danville, Va., to make chicken tenders and nuggets.
The 325,000-square-foot processing facility is expected to create nearly 400 jobs when production begins in the spring of 2023.
The investment is part of the company's long-term growth strategy. Tyson committed itself to purchasing 60 million pounds of chicken grown in Virginia over the next three years.
The plant will be built in an industrial park jointly owned by the city and Pittsylvania County. Tyson said it will be several months before hiring begins there.
In prepared statements, executives and local officials said they are excited about the project.
Tyson paid Virginia poultry growers more than $37 million in fiscal 2020 and estimates its statewide impact to be $154 million. Tyson has processing plants in Glen Allen and Temperanceville.
"We look forward to many years of success," Virginia Gov. Ralph Northam said.
-- Nathan Owens
Arkansas Index falls 7.65, ends at 658.66
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Thursday at 658.66, down 7.65.
"An explosion early in the trading session near the Kabul airport moved equities lower as defensive sectors including real estate and utilities outperformed as investors shed risk assets," said Leon Lants, managing director at Stephens Inc.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.