Subscribe to Business RSS feed

Business

Rice mill to create jobs at port

A new multimillion-dollar rice mill at the Port of Pine Bluff will initially employ 25 and further expansions are planned, Southwind Milling Co. LLC announced Monday.

Unemployment declines in city, county

Pine Bluff’s unemployment rate fell from April to March but remained the second-highest among cities in the state, according to data released last week by the Arkansas Department of Workforce Services.

PB March unemployment continues downward trend

The March unemployment rate for Pine Bluff declined for the second consecutive month in March but remained the second highest in the state, according to data released Tuesday by the Arkansas Department of Workforce Services.

Metropolitan National Bank turns another quarterly profit

Metropolitan National Bank announced a third quarter profit of $1.59 million. For the first three quarters of 2013, the Little Rock-based bank has posted $3.53 million in net income. In September, Metropolitan was acquired by Pine Bluff-based Simmons First for $53.6 million. Metropolitan’s parent company, Rogers Bancshares, had filed for bankruptcy protection earlier this year following the death of its principal owner Doyle Rogers. The merger is expected to close at the end of December 2013 and the two banks will consolidate during the first quarter of 2014.

Arkansas Poll shows concerns growing on economy

The Arkansas Poll, conducted by the University of Arkansas, shows voter attitudes are more pessimistic than a year ago. When asked if the economy was heading in the right direction or wrong direction, 63 percent of voters said it was heading in the right direction versus 20 percent who indicated the economy was off-track. Last year, 73 percent of voters said the economy was heading in the right direction, while 17 percent said it was heading in the wrong direction. The poll was conducted during the government shutdown.

Arkansas delegation votes to reopen federal government, hike debt ceiling

All six members of Arkansas’ Congressional delegation voted for a Senate-sponsored measure to reopen the federal government and to extend the nation’s debt ceiling limit after nearly three weeks of high-stakes political wrangling. The measure approved by the U.S. House and U.S. Senate would fund the federal government and increase the Treasury Department’s borrowing power to $16.7 trillion. President Obama signed the bill into law late Wednesday night.

Conway, major developer announce $90 million Central Landing project

Landing at the Conway airport will soon take on a new meaning as Alabama-based Jim Wilson and Associates and the Conway Development Corp. announced a new $90 million upscale regional shopping center, Central Landing. On Thursday, Will Wilson, CEO of Jim Wilson and Associates, announced the 150-acre project that will take the soon-to-be-decommissioned airport property and redevelop it to include restaurant, retail, medical, office and multi-family use spaces. Wilson also said that plans could include two hotels and space available for economic development projects being recruited to Conway.