Fayetteville Retail Attracts New Businesses in 2012
By Greg Tavarez
Lemke Newsroom
An increase in northwest Arkansas retailing has brought new businesses and sales tax collections to Fayetteville. That growth also has decreased unemployment, city officials said.
More chose Fayetteville as the destination for a new business because of factors such as its location and the people, said Chung Tan, Chamber of Commerce manager for economic development. Owners approve the location of the city because of the UofA and the boost received during Razorback football home games.
Business owners look for a great place to start a business and this area is that great place, Dollar Daze co-owner Sharon Howell said. The people here are great, which made it easier on the decision to open Dollar Daze. Dollar Daze, a variety store, is in a strip mall at Steamboat Drive off Wedington Drive next to Harps Food Store.
Graphic by Greg Tavarez
Fayetteville is a growing city, and new businesses will continue to crop up across the area because of the development of the economy, Tan said. Every new business owner has to go through an orientation process.
That begins with contacting the Fayetteville Chamber Economic Development team and learning the details of zoning compliance under the International Building Code, according to the Chamber of Commerce. The process will require new local owners, such as Sharon Howell, to contact the building safety division and the city cashier.
When the process is done, the owners can run the business the way they want, Tan said.
Dollar Daze is not a franchise store, Sharon Howell said. In this store, ?we can do whatever we want? with a great feeling.
There is not a similar store on this side of town, Sharon Howell said. There is no worry with Walmart and Harps nearby because Dollar Daze will have different items in its inventory.
People who shop in our store will find that all the products will be sold for $1, co-owner Bob Howell said.
The increase of businesses benefited Fayetteville because sales taxes go to the city, according to a July Chamber of Commerce report. The 2012 total sales tax for Fayetteville was $1,442,433, which is a 7.4 percent increase from a year ago.
Fayetteville is listed as the best small city to start a business in Arkansas, with a labor force of 39,920, according to a 2009 Business Week report, businessweek.com. The city has 1,000 small businesses for every 42 people in the population.
Fayetteville is about the right size, said Chuck Chalfant, president and CEO of Space Photonics to Business Week. ?It?s a university town and that will always be a big advantage for a business.
Graphic by Greg Tavarez
New businesses in the area also bring job opportunities and Fayetteville has seen a decrease in unemployment because of retail growth, according to an August Chamber of Commerce report. The unemployment rate dropped from 6.7 percent in June 2011 to 5.6 percent June 2012, and northwest Arkansas saw a 1.4 percent decrease in unemployment over the past year.
Bob Howell plans to hire more workers before the holiday season begins, he said.
Sugar Land, Texas, a city similar in population to Fayetteville at 76,000, is listed as the best small city for startups in Texas with a labor force around 41,000, according to Business Week. The city has 1,000 small businesses for every 29 people.
Fayetteville ranked 75th in the Top 100 leading locations for 2012, according to the Area Development website at areadevelopment.com. The list ranked ?365 metropolitan statistical areas? based on economic and workforce growth indicators.
Source: http://www.razorbackreporter.com/?p=4280
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