New Construction Sees Boom In Craighead County, Report Notes

The dirt movers have been busy so far this year with new construction far outpacing numbers from a year ago, according to a report from the Craighead County Assessor’s office.

The report, based on activity in each school district in Craighead County, showed $57.2 million in new construction after deductions and $12.7 million in new home construction after deductions so far in 2015.

The county had $22.9 million in new construction and $14.3 million in new home construction in 2014.

On the 2015 numbers on new construction, the vast majority (nearly $52 million) has been in the Jonesboro and Nettleton school districts.

Meanwhile, on new housing, the vast majority (nearly $7 million) was in the Valley View and Nettleton districts.

Also, a report last week showed that home sales in the Jonesboro area has picked up.

According to content partner The City Wire, there were 1,129 houses sold in the Jonesboro area from January through June 2015.

The number was up 19%, compared to the same time in 2014 and 46% compared to the same time in 2013.

LAYING THE GROUNDWORK

There have been a lot of new buildings that have sprouted up in Jonesboro in the past few years.

Several years ago, officials with NEA Baptist announced that it would build a hospital on U.S. 49 in the Hilltop area of Jonesboro.

The construction of the hospital led to several businesses and restaurants being built on Red Wolf Boulevard and Stadium Boulevard.

Josh Brown, an official with Haag Brown Commercial, said the hospital’s construction definitely led to a boom in Jonesboro.

“Three years ago we spoke about the economic earthquake NEA Baptist was creating by building a half billion dollar medical campus on the north side of town. The boom …. is attributed to that campus, the growth of our university, the growth of St. Bernards, the growth of our existing industries and the explosion of our retail real estate market. Our firm has added over 2,000 restaurant seats to our market in the past few years and several national retailers. I feel like by expanding our retail draw, more people are choosing to live in and spend their money in Jonesboro.”

Jonesboro Mayor Harold Perrin said the city has benefited from the construction boom, with the city seeing growth locally and regionally.

Perrin said the city, which serves as a hub for education, retail and medicine in Northeast Arkansas, has a good economic base and quality of life.

The city saw a slight drop in building permits in 2008, but has seen steady increases since then, Perrin said, noting the city had about $24 million worth in July 2015 alone.

The city averages between $12 and $15 million in permits issued each month, with 70% from commercial and the rest from residential, Perrin said.

A pair of companies announced earlier this year their plans to expand.

In April, officials with Frito-Lay announced a $45.7 million expansion to its factory in Jonesboro.

The 80,000-square-foot expansion, which will add about 30 jobs, is expected to be online by 2018, officials said.

In late June, officials with Hytrol Conveyor Co. broke ground on a $12 million, 62,000-square-foot expansion at its facility on Arkansas 18.

The expansion is expected to create another 75 jobs at the company, which makes conveyors for Fed Ex and Macy’s.