This year’s Outlook Conway will explore several sectors of the local economy that have experienced significant changes as the result of the COVID-19 pandemic. Our local economy’s diversity tends to insulate the city from national occurrences; however, the pandemic was a historically disruptive event. The impact was experienced by every American. Outlook Conway takes a closer look at that impact at the local level.
The paper and packaging industry is important to the economy of Conway and our surrounding region. Green Bay Packaging anchors the Morrilton area and International Paper, WestRock, SMC Packaging and Arkansas Box call Conway home. With more than 1,300 employees, the five companies make up a substantial portion of our total manufacturing employment. With the rise in e-commerce, the packaging industry has experienced substantial growth, and the pandemic only highlighted the importance of the sector in the supply chain for a number of consumer products.
Finance is a cornerstone of the Central Arkansas economy. With three publicly traded banks headquartered in the area, including Conway-based Home BancShares Inc., investment banking and a growing fintech sector, the region has a concentrated number of finance professionals. A foundation of the local financial sector is the number of privately held institutions based in the area. Their presence only solidifies the strength of the financial sector. They also play a key role in local community and economic development opportunities. This year we will explore the impact some of these institutions have on the local economy.
Just like most of the country, Conway is experiencing a boom in the residential real estate market. With demand outstripping supply, escalating prices for building materials and a near record number of lots under development, the local residential real estate market is strong but still complicated. How does Conway compare to other areas in the region, state and nation?
In the midst of the pandemic, Conway Corporation announced a major commitment to “green” energy with the construction of a 132 MWdc solar energy project. It is the latest in a long history of progressive decisions by our local utility to help set Conway apart from other communities. The three CEOs of Conway Corporation from 1991 to today will discuss the history and culture of Conway Corporation and its impact on the growth and development of the city.
Finally, while many cities simply tried to survive the last 14 months, Conway residents did what they have done for generations — look to the future. More than 1,800 residents took part in a community visioning process to anticipate and prepare for future growth. The new Conway 2035 plan will replace a plan initiated in 2010 and updated in 2015. The optimism of our citizens was a refreshing break from the daily headlines about our nation and world. I hope you enjoy learning more about the city we call home and I invite you to consider joining us.
Brad Lacy
President & CEO
Conway Area Chamber of Commerce
Sign up for Daily E-news
