Business

Arvest Bank selected for Fed pilot program

The Federal Reserve Bank has selected Fayetteville-chartered Arvest Bank to participate in a pilot program for a new real-time payments system. FedNow is a new instant payment service that will…

Gov. Hutchinson sets vaccination goal; state to expand number of pop-up vaccine clinics

Gov. Asa Hutchinson wants more than 50% of Arkansans to receive at least one COVID-19 vaccination dose by early August, and state officials will pursue the goal by using pop-up…

Former pro cyclists open Springdale retreat

Former UCI road cyclists Ernie and Scotti Lechuga recently opened cycling retreat Natural State Rock & Republic in downtown Springdale. The Lechugas spent about two months renovating the former Magnolia…

Commercial floor space to grow faster than energy use through 2050

Commercial floor space is expected to increase significantly over the next 30 years in the United States, while energy use rises at a slower pace, according to the U.S. Energy…

Arkansas tax revenue surplus more than $700 million; year-to-date collections up 11.1%

Calendar shifts with tax filing, an improving economy and federal stimulus payments helped boost April tax revenue almost 20% more than the forecast, and pushed the state’s year-to-date revenue surplus…

Improving consumer demand helps ArcBest quarterly revenue and income beat estimates

More consumer demand and not enough equipment to ship what the consumer demands helped Fort Smith-based ArcBest boost first-quarter revenue by more than 18% and post earnings per share of…

NARIFA report notes ‘milestones’ to boost regional job growth

The COVID-19 pandemic wreaked global economic havoc in nearly every economic sector during 2020. It fueled the worst U.S. recession since the Great Depression as unemployment soared and the country’s…

Alec Farmer elected to Arkansas Blue Cross and Blue Shield board of directors

The Arkansas Blue Cross and Blue Shield board of directors announced the election of Alec Farmer of Jonesboro, president of Farmer Enterprises, Inc., to its board on Monday (May 3)….

Gray Television to acquire Meredith Corp.

The parent company of television station KAIT in Jonesboro is set to become the second largest broadcast company in the U.S. after a major acquisition announced on Monday (May 3)….

Mother’s Day spending estimated to reach record $28.1 billion

Consumers flush with cash are expected to push Mother’s Day spending to a record $28.1 billion this year with 83% of consumers telling the National Retail Federation they plan to…

Windgate Foundation gift to aid UAFS art and design students

The University of Arkansas at Fort Smith has received a nearly $8 million gift from the Windgate Foundation for student scholarships and internships, an artist in residence program and continued…

Manufacturing sector growth slows in April; PMI falls 4 points

Economic activity in the manufacturing sector increased at a slower rate in April, while the overall economy grew for the 11th consecutive month, according to the Institute for Supply Management…

Central Arkansas law firm rebrands to Hilburn & Harper, Ltd.

Hilburn, Calhoon, Harper, Pruniski & Calhoun, Ltd. announced Monday (May 3) it has rebranded to Hilburn & Harper Ltd. “We strongly feel this refreshed brand helps identify who we are…

USDA predicts corn, soybean acres to soar; rice to plunge

There has been growing optimism through the late spring and early summer that several row crops, including soybeans and corn, might add acres in 2021. The expectations are becoming a…

Economist: Tax cuts will help low income; businesses must spend to overcome ‘reputational harm’

UA Walton College economist Mervin Jebaraj said new tax cuts and those proposed for later this year could help in a variety of ways, especially for lower income Arkansans, and…

United Federal Credit Union opens 2nd Springdale office

Michigan-based United Federal Credit Union opened its third Northwest Arkansas location April 5. The branch office at 1910 S. Thompson St. in Springdale was obtained as part of a transition…

The Supply Side: Walmart’s expanded in-home delivery is timely

Walmart recently announced the expansion of its in-home delivery service — Walmart InHome — in Northwest Arkansas, which went live April 7. The retailer added the local market to Kansas…

War Memorial Stadium to host national junior college football championship in 2021 through 2023

The National Junior College Athletic Association (NJCAA), along with the Little Rock Convention & Visitors Bureau, and Arkansas Parks, Heritage, and Tourism, announced Friday (April 30) that Little Rock will…

Three Arkansas hospitals garner A rating from Leapfrog

National rating group Leapfrog has awarded Mercy Hospitals in Fort Smith and Rogers an A grade in patient safety for the spring 2021 report. CHI St. Vincent in Hot Springs…

First quarter revenue up 25% for USA Truck; net income totals $3.597 million

A 90.8% gain in operating revenue in the logistics segment helped Van Buren-based USA Truck post an almost $32 million gain in first quarter revenue. First quarter net income of…