The economy of Conway and Faulkner Counties continues to demonstrate strong growth. Since 2019, agreements have been signed with companies to create 1,718 jobs. The average salary of these new jobs is $63,450, which is 28% more than the state average. These numbers include Westrock Coffee’s December announcement of a $170 million, 250-job facility in the former Kimberly Clark facility in the Conway Industrial Park.
By the end of 2021, most economic indicators had returned to or eclipsed pre-pandemic levels for the city. Total retail sales approached $1.9 billion, $500 million more than in 2019. Restaurant sales rose above $235 million, an increase of $30 million from 2019. There were 408 new, single-family permits issued in 2021, which marked the best year since 2005. The total number of jobs in Faulkner County increased to more than 41,000, a number last seen in 2019.
Health care has become the largest sector of Conway’s economy. Anchored by three hospitals, the city is a regional destination for health care with patients coming from a large area of north central Arkansas and from around the state for some specialties. Conway is also home to the corporate functions of companies like Pediatrics Plus and Reliance Healthcare, adding to the influence of health care on the local economy.
While Conway may not be known as a hub for logistics, there is a growing cluster of transportation/logistics companies based in the city. These companies range from trucking and warehousing to logistics information technology and represent nearly 1,000 jobs with average salaries exceeding $60,000. With the continued evolution of retail, Conway’s central location and UCA’s logistics program, the city should expect more growth in this area.
The workforce challenge continues posing problems for companies across industry sectors. Conway is uniquely positioned to navigate through it with multiple education providers in and around the city. Our two- and four-year institutions bring several thousand students to the city each year and keeping them after graduation is a goal of the Chamber and business community. The Launch Conway initiative, a partnership between the Chamber and UCA, will target campus leaders to consider Conway as a place for a career upon graduation.
As you learn more about our city, I hope you will consider Conway as a location for your family and your business.
Sincerely,
Brad Lacy
President & CEO, Conway Area Chamber of Commerce
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