Batesville Arkansas Real Estate - PDF

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					                                                                                                               [              ]

                                                                                                               One of America’s
                                                                                                               Best Small Towns




      Batesville                                   Searcy
    1325 Harrison Street              2401 West Beebe Capps Expressway
       870.612.3400                             501.207.6000
3 Eagle Mountain Boulevard                  2801 East Race Street
       870.612.3499                             501.207.6030

    1 Allen Chapel Road                 1201 North Maple (Highway 16)

       870.612.3480                             501.268.9955


      Highland                                     Cabot
  1536 Highway 62/412                  3084 Bill Foster Memorial Highway
     870.856.4212                                 501.605.1671

      Cave City                                 Bald Knob
  102 South Main Street                         159 Highway 167
      870.283.3190                                501.724.2113

                    Jonesboro Mortgage
                          708-B Windover Road
                              870.932.3562




w w w . f i r s t c o m m u n i t y . n e t
                                                                                  2007
                                                                           ECONOMIC REPORT
                                                                            Batesville & Independence County
Compliments of
                                          Introduction

                                              Nestled in the Ozark Mountains, Independence         individual awards including Business Person of the
                                          County is situated in a picturesque setting near the     Year, Non-Profit Business Person of the Year,
                                          White River. Its tranquil location, neighborly           Lifetime Achievement, and Women in Business.
                                          atmosphere, and strong economy, make it a great          These distinctions clearly reinforce the
                                          place to live and raise a family. From real estate,      resourcefulness of our community.
                                          banking, and retail, to industry, education, and a           Tourism, a vital part of our local economy,
                                          strong medical community, the collective strength of     reports steady growth. Visitors to our area continue
                                          these organizations combine to create a vibrant,         to increase as does travel-generated jobs. The Mark
                                          self-sustaining business community. First                Martin Museum, The Old Independence Regional
                                          Community Bank is honored to be headquartered in         Museum, Batesville Motor Speedway and the lure of
                                          a community that offers a favorable economic             trout fishing on the "nationally acclaimed" White
                                          climate as well as a unique quality of life.             River contribute greatly to the number of visitors to
                                              Since the inception of our bank ten years ago,       our area. Agriculture remains strong and deposits
                                          our pledge to be a strong community partner              for the county continue to increase. The Fayetteville
                                          putting community first in every decision has stood      Shale, oil & gas enterprise, has stimulated our local
                                          firm. We pride ourselves in continuing our               economy and promises to be a bright spot for
                                          commitment and playing an integral part in the           Independence County's future.
                                          growth and development of Batesville and                     The region's medical community is well-served
                                          Independence County.                                     by White River Health System and its local flagship
                                              This economic report is our way of putting our       entity, White River Medical Center. Batesville is
                                          resources to work in an effort to advance economic       home to Lyon College, a Presbyterian-related liberal
                                          development in Batesville and Independence               arts college that is consistently ranked in the
                                          County. We are excited to report a stable local          national top tier of private institutions. The
                                          economy, despite a downward trend at the national        University of Arkansas Community College at
                                          level.                                                   Batesville, an affiliate of the University of Arkansas,
                                                                                                   continues to see increased enrollment with over
                                              We have a strong nucleus of futuristic businesses
                                                                                                   3,000 students receiving instruction in the 2007
                                          and business leaders, many of whom were
                                                                                                   fiscal year.
                                          recognized in 2007 for their outstanding
                                          contributions to the Northeast Arkansas region.              In all of this, First Community Bank is proud to
                                          Independence County was honored by the selection         call Batesville home. We consider ourselves
                                          of Bad Boy Mowers as Mid-size Business of the Year       fortunate to be a part of such a dynamic
                                          and LaCroix Optical was a finalist in the same           community. Anyone could "feel good" about living
                                          category. FutureFuel Chemical Company, a chemical        and working here in one of the best small towns in
                                          and alternative fuels manufacturer, was selected         America!
                                          Large Business of the Year. White River Health
                                          System was a finalist for the Non-Profit Business of
                                          the Year. Independence County also received several




 White River Medical Center


                                                  Dale E. Cole                              Boris A. Dover
                                                  Chairman & Chief Executive Officer        President & Chief Operating Officer
                                                  First Community Bank                      First Community Bank
                                                  Batesville, Arkansas                      Batesville, Arkansas


Brown Chapel on the Lyon College campus
2007 ECONOMIC REPORT           Batesville & Independence County




  Batesville
   independence County
         Batesville and Independence County
         continue to be a vital and growing area with
         much to offer individuals and families. First
         Community Bank has provided this
         comprehensive, yet easy to read, economic
         report to highlight some of the key
                                                       &     Batesville is home to several large employers. 

                                                             Per capita income in Independence and 

                                                             surrounding counties continue to increase as 

                                                             does the agricultural income for our area. 

                                                             There was an increase for building permits 

                                                             that generated over $10 million despite the 

                                                                                                                                                                        The Golf Course at Eagle Mountain




         economic indicators in our community.               fact the national economy reported a 


         We have combined local, state and national 
        decline in the housing industry.

         figures in an attempt to give you an                Tourism continues to be a vital part of the 

         accurate snapshot of our current economy.           area’s economy with 437 jobs directly tied 


         As of December 31, 2007, First Community            to the tourism industry. Tourism generated

         Bank had assets of $481 million. Total              $612,342 in local tax receipts in 2006 with

         banking deposits in Batesville for all banks as 
   nearly 141,744 visitors to the area.

         of June 30, 2007, were $683 million, an             Batesville and Independence County 

                                                                                                                                                                 Mark Martin Museum
         increase of over $45 million from 2006.             continue to grow, flourish and be among 


         Batesville is the county seat for 
                 the best places to live and raise a family.

         Independence County and serves a seven 

         county trade area of between 85,000 and 

         100,000 people. Batesville has twice been 

         listed in The 100 Best Small Towns in 

         America by Norman Crampton, a 

         nationwide guide to the best in small-town 

         living.




                                                                                                                                   The Old Independence Regional Museum located in Batesville
                                                                                                             Photo by Ross Jones
2007 ECONOMIC REPORT                           Batesville & Independence County




                                                                                                                                                          [
                                                                                                                                                          MANUFACTURING COMPANIES
                                                                                                                                                          IN BATESVILLE AND INDEPENDENCE COUNTY
                                                                                                                                                              COMPANY                                     NUMBER OF EMPLOYEES                            BUSINESS TYPE
                                                                                                                                                              Townsends of Arkansas                               1384                                   Poultry Processing
                                                                                                                                                              Con Agra/Pilgrim’s Pride                          646 / 373                   Frozen Food/Poultry Processing
                                                                                                                                                              FutureFuel Chemical Company                         458                           Chemicals/Alternative Fuels
                                                                                                                                                              Pro Dentec                                          350       Manufacturing & Distribution of Dental Products
                                                                                                                                                              Flowers Baking Company of Batesville                264                                                  Bread
                                                                                                                                                              White Rodgers                                       235                            Water Heater Thermostats



[
                                                                                                                                                              Bad Boy, Inc./Fireworks World, Inc.                 156                               Lawnmowers/Fireworks
  Batesville is located in Independence County in the northeastern part of Arkansas.                                                                          Entergy - Independence Plant                        140                                              Electricity
                                                                                                                                                              Life Plus                                           129                                  Nutritional Products
  Batesville is 90 miles north of Little Rock and 115 miles west of Memphis.                                                                                  LaCroix Optical, Co.                                109                              Precision Optical Lenses
     The population of Batesville is approximately 10,000 and is easily         addition to Batesville Schools, Independence County also has the              Arkansas Lime Co                                     98                                  Lime and Limestone
                                                                                                                                                              Atlas Asphalt/White River Materials, Inc.            92                        Asphalt/Highway Construction
     accessible through U.S. Highway 167 and State Highways 14, 25, 69,         following districts: Cedar Ridge, Cushman, Midland and Southside,             Unimin Corp.                                         57                                            Silica Sand
                                                                                                                                                              Concord Specialty, Inc.                              29                                Corrugated Containers
     394, 106, 233, and is only 30 minutes from an interstate connection.       with a total enrollment of 3,141. Private schooling is also available,        Midwest Lime Company                                 25                                             Limestone
                                                                                such as Batesville Montessori School for younger children, Hope
     Batesville serves as a regional hub, and is home to White River Health 

                                                                                Lutheran (K) with 10 students and Batesville Christain School (K-12) 

     System, which continues to grow and now has over 1,249 employees. 

                                                                                with 32 students. A community college and a private college also are 



                                                                                                                                                          [
     The hospital has 200 licensed beds and employs 265 RN’s. There are
                                                                                located in Batesville. The University of Arkansas Community College       NON-MANUFACTURING COMPANIES
     76 practicing physicians, 41 consulting physicians, and 15 dentists in
                                                                                at Batesville (UACCB) is continually expanding its curriculum to better
                                                                                                                                                          IN BATESVILLE AND INDEPENDENCE COUNTY
     the area.
                                                                                                                                                              COMPANY                                     NUMBER OF EMPLOYEES                            BUSINESS TYPE
                                                                                serve the community, and Lyon College is consistently ranked as one 

     The Batesville School System, which is fully accredited by the North 

                                                                                of the top 10 liberal arts colleges in the South.                             White River Health System                           1249                                           Health Care
     Central Association of Secondary Schools, has seen growth in recent                                                                                      White River Area Agency on Aging                    480                                       Human Services
                                                                                                                                                              Wal-Mart Supercenter                                475                                                  Retail
     years, and currently has an enrollment of 2,590 students K-12. In                                                                                        Batesville Public Schools                           462                                            Educational
                                                                                                                                                              Health Resources of Arkansas                        320                                       Human Services
                                                                                                                                                              UACCB                                               300                                            Educational
                                                                    POPULATION                                                                                Arkansas State Highway Department
                                                                                                                                                              Independence County
                                                                                                                                                                                                                  260
                                                                                                                                                                                                                  250
                                                                                                                                                                                                                                                        Road/Transportation
                                                                                                                                                                                                                                                             County Services
                                YEAR                  1960              1970                1980                     1990                   2000              Ronnie Dowdy Trucking                               222                                Transportation Services
                                                                                                                                                              Southside Public Schools                            190                                            Educational
    Batesville                                       6,207            7,209                 8,263                   9,187                  9,445              Lyon College                                        174                                            Educational
    Independence County                             20,048           22,723                30,147                  31,192                 34,233              Citizens Bank                                       160                                   Financial Institution
                                                                                                                                                              First Community Bank                                150                                   Financial Institution
                                                                                                                                                              City of Batesville                                  150                                           City Services
    Source: Arkansas Department of Economic Development                                                                                                       Woodlawn Nursing Home                               149                                    Elderly Health Care
                                                                                                                                                              North Arkansas Development Council                  125                                  Development Services
                                                                                                                                                              Rolling Hills Nursing Home                          105                                             Healthcare
                                                                                                                                                              Bryant’s Pharmacy and Healthcare Center             104                            Pharmacy/Home Healthcare
                                                                                                                                                              Vital Link                                          104                                 Non-Profit/Healthcare
                                                                                                                                                              Dowell Transport                                    103                                Transportation Services
                                                                                                                                                              Batesville Daily Guard                               67                                      Daily Newspaper
                                                                                                                                                              Arkansas Sheriffs’ Youth Ranch                       53                                             Non-Profit
                                                                                                                                                              Batesville Cold Storage                              48                             Refrigerated Warehousing
                                                                                                                                                              WRD Entertainment                                    25                                                 Media




                                                                                                       Deborah Frazier, Chancellor, UACCB

                                                                                                                                                                                           L O C A L             E C O N O M Y
2007 ECONOMIC REPORT                              Batesville & Independence County




 [UNEMPLOYMENT RATES              YEAR                    2003        2004            2005         2006     2007

   State of Arkansas                                      5.5%        5.5%               5.1%       4.9%    5.4%
   Independence County                                    6.4%        6.2%               6.1%       5.0%    6.3%
    Source for all above: Bureau of Statistics of Labor




 [PER CAPITA INCOME IN ARKANSAS
      COUNTY                                              2002                 2003              2004       2005
                                                                                                                      [
 CATTLE & POULTRY IN INDEPENDENCE COUNTY

                                                                                                                       CROPS,
                                                                                                                           YEAR          ALL CROPS               ALL LIVESTOCK                  OTHER FARM INCOME             TOTAL
      Independence                                    $ 21,373                $ 22,357          $ 23,708   $ 24,622        2003         $ 14,435,730                  $ 57,874,130                    $ 14,425,519         $ 86,762,380
      Sharp                                           $ 16,620                $ 17,283          $ 18,755   $ 19,631        2004         $ 15,620,921                  $ 62,818,878                    $ 15,309,771         $ 93,749,570
      Cleburne                                        $ 22,537                $ 23,151          $ 24,363   $ 25,435        2005         $ 11,521,088                  $ 62,219,600                    $ 12,636,248         $ 86,376,936
      White                                           $ 20,081                $ 21,120          $ 22,018   $ 22,210        2006         $ 16,600,595                  $ 61,021,043                    $ 13,038,423         $ 90,660,061
      Lonoke                                          $ 23,135                $ 24,567          $ 25,564   $ 25,074
      Izard                                           $18,038                 $ 18,827          $ 20,086   $ 20,722    The primary crops grown in Independence County are corn, rice, milo, soybeans and wheat.
      Crittenden                                      $ 20,768                $ 22,410          $ 23,519   $ 24,095    Cattle and poultry are the main livestock raised in the area.
      Pulaski                                         $ 32,837                $ 33,313          $ 35,264   $ 37,279    Source: Arkansas Farm Bureau Federation and U.S. Department of Agriculture
      Craighead                                       $ 23,147                $ 24,346          $ 25,514   $ 25,944
      Washington                                      $ 23,870                $ 24,622          $ 26,165   $ 27,486
      Jefferson                                       $ 21,304                $ 22,108          $ 23,489   $ 24,053

         Source: Bureau of Economic Analysis


                                                                                                                      [TIMBER REMOVAL BY TONS
                                                                                                                                            2007                                         PINE                        HARDWOOD

 [RETAIL SALES FOR INDEPENDENCE COUNTY
                                   YEAR                   2003         2004              2005       2006     2007
                                                                                                                                INDEPENDENCE COUNTY
                                                                                                                                STATE OF ARKANSAS
                                                                                                                                                                                         65,315
                                                                                                                                                                                     17,014,676
                                                                                                                                                                                                                         90,069
                                                                                                                                                                                                                      5,545,478
    TOTAL RETAIL SALES                                    $389        $400               $434       $470     $416      Source: Arkansas Forestry Commission
               (in millions)

    Source: Independence County Treasurer’s Office




                                      L O C A L                  &   S T A T E        E C O N O M Y                                       L O C A L               &       S T A T E                 E C O N O M Y 

2007 ECONOMIC REPORT                          Batesville & Independence County

                                                                                                            [GROSS DOMESTIC PRODUCT (GDP)
                                                                                                                YEAR           GDP
                                                                                                                2003       $ 11,004                                      $14


 [

  VEHICLES REGISTERED IN INDEPENDENCE COUNTY                                                                    2004       $ 11,734                                      $12




                                                                                                                                                                                                                                                 $13,843
                                                                                                                2005       $ 12,479                                      $10




                                                                                                                                                                                                                                   $13,322
                                                                                                                                                                                                                     $12,479
       TYPE OF VEHICLE                           2002           2003             2004     2005     2006




                                                                                                                                                      IN BILLIONS




                                                                                                                                                                                                       $11,734
                                                                                                                2006       $ 13,322
                                     $ 8




                                                                                                                                                                                          $11,004
       Personal Vehicles                        28,612          29,069           29,271   29,676   28,584       2007       $ 13,843
                                     $ 6
                                                                                                                            (In Billions)
                                                                                                                                                                         $ 4
   Source: Department of Revenue
                                                                                                                                                                         $ 2
                                                                                                                                                                         $ 0
                                                                                                                                                                                        2003          2004          2005          2006          2007

                                                                                                                                            Source: Bureau of Economic Analysis, National Income and Product Account Table (www.bea.gov)


 [

  BANKING DEPOSITS IN BATESVILLE & INDEPENDENCE COUNTY
                YEAR                          DEPOSITS
                2003
                2004
                                          $ 523,851,000

                                          $ 558,208,000

                                                                                                            [UNEMPLOYMENT

                                                                                                               YEAR    UNEMPLOYMENT
                                                                                                                                                                         8.0%
                2005                      $ 552,751,000                                                        2003       6.0%
                                                                                                                                                                         7.0%
                2006                      $ 638,426,000                                                        2004       5.5%
                2007                      $ 683,051,000                                                                                                                  6.0%
                                                                                                               2005       5.1%




                                                                                                                                                         UNITED STATES
                                                                                                               2006       4.6%                                           5.0%
   Source: FDIC As of June 30 of each year.




                                                                                                                                                                                           6.0%
                                                                                                               2007       4.6%
                                          4.0%




                                                                                                                                                                                                        5.5%

                                                                                                                                                                                                                      5.1%
                                                                                                                                                                         3.0%




                                                                                                                                                                                                                                    4.6%

                                                                                                                                                                                                                                                  4.6%
                                                                                                                                                                         2.0%


 [BUILDING PERMITS

      TYPE OF      PERMIT*                               2007
                                                                                                                                                                         1.0%
                                                                                                                                                                         0.0%
                                                                                                                                                                                         2003         2004          2005          2006          2007

      Single-Family Residential                            62                                                                                                                  Source: Bureau of Labor Statistics. Local Area Unemployment Statistic (LAUS)
                                                                                                                                                                                       Bureau of the Census, 2000 Census of Population.
      Multi-Family Residential                              1
      Non-Residential                                      29
      Industrial Expansion
      Industrial Remodel
                                                            2
                                                            1
                                                                                                            [INFLATION
                                                                                                                YEAR      INFLATION
      Sign Permits                                          9
                                                                                                                                                                          4.0%
      Demolition                                            1                                                   2003        2.27%
                                                                                                                2004        2.68%                                         3.0%




                                                                                                                                                                                                                                                      4.10%
                                                                                                                                                                                                                                      *




                                                                                                                                                                                                                          3.39%
                                                                                                                                                                                                            2.68%
                                                                                                                2005        3.39%                                         2.0%




                                                                                                                                                                                                                                        3.24%
                                                                                                                                                                                              2.27%
          TOTALS                                         105
                                                                                                                2006        3.24%                                         1.0%
          Value of all Permits                 $ 10,333,036                                                     2007        4.10%                                         0.0%
                                                                                                                                                                                           2003         2004          2005          2006          2007
   Source: Code Enforcement Officer Office
          *Includes additions and remodels                                                                                                                                                                                         Source: T.J. Raney & Sons

                                                                       331
                                                  L O C A L            E C O N O M Y                                       N A T I O N A L                                             E C O N O M Y
2007 ECONOMIC REPORT                                            Batesville & Independence County




 [TOTAL TRAVEL EXPENDITURES
      YEAR                            2002                                      2003                                      2004                                     2005                                         2006

    Independence County                                    $22,836,132                        $22,404,137                               $24,452,411                                         $25,854,723                              $28,665,138

         Source: Arkansas Department of Parks and Tourism




 [

  VISITORS TO INDEPENDENCE COUNTY
                                  YEAR                            2002                                      2003                                      2004                                     2005                                         2006

     NUMBER OF VISITORS                                         125,595                                120,820                                    128,506                                     131,651                                      141,744




                            450
                            400                                                                                                     $700
                            350                                                                                                     $600                                                                                                             Lyon College vaults into top tier of U.S. News rankings.
                            300                                                                                                     $500
                                                                                                                   IN THOUSANDS
          IN FIFTIES




                                                                                                                                                                                                                                                         U.S. News also again named Lyon College to its “Great Schools, Great Places.”
                                                                                                                                                                                               $521,764


                                                                                                                                                                                                              $552,007


                                                                                                                                                                                                                             $612,342
                            250                                                                                                     $400
                                                                                 421
                                                   403
                                    407




                                                                   416




                                                                                               437




                                                                                                                                                             $478,264


                                                                                                                                                                              $478,193

                            200                                                                                                     $300
                                                                                                                                                                                                                                                         Lyon rose to 16th on this list of 40 “best value” schools across the nation and is
                            150                                                                                                     $200
                            100                                                                                                     $100                                                                                                                 the only college in Arkansas and the surrounding states — and one of only six in
                             50                                                                                                                  $0
                                                                                                                                                                                                                                                         the South — to be honored. Lyon was ranked 23rd on this list in the 2007 U.S.
                                   2002           2003            2004          2005          2006                                                       2002                2003             2004           2005           2006
                                   TRAVEL-GENERATED JOBS                                                                                                           COUNTY TAX RECEIPTS                                                                   News rankings.
                                                 Independence County                                                                                    For tourism in Independence County
                                                                                                                                                                                                                                                         Lyon was also named one of the “Best Colleges in the Southeast” and a “Best
                                                                                                                                                                                                                                                         Value” by The Princeton Review in 2007.
                            $7
                            $6                                                                                                                   $2
             IN THOUSANDS




                            $5
                                                                                                                                  IN THOUSANDS
                                                                   $5,657,969


                                                                                 $5,974,787


                                                                                               $6,616,315




                            $4
                                                                                                                                                                                                $1,587,484


                                                                                                                                                                                                               $1,681,437


                                                                                                                                                                                                                              $1,866,752
                                    $5,300,322


                                                   $5,190,515




                                                                                                                                                              $1,485,049


                                                                                                                                                                               $1,454,619




                            $3                                                                                                                   $1
                            $2
                             $1
                             $0                                                                                                                  $0
                                   2002           2003            2004          2005          2006                                                        2002               2003             2004           2005           2006
                                  TRAVEL-GENERATED PAYROLL                                                                                                                 STATE TAX RECEIPTS
                                                 Independence County                                                                                     For tourism in Independence County




          T O U R I S M ,                                                       T R A V E L                                       &                    T A X                                R E C E I P T S 


				
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