Arkansas Tourism Ticker: Tourism tax revenue sets new record in June

by Michael Tilley (mtilley@talkbusiness.net)

Arkansas’ 2% tourism tax revenue between January and June was $13.513 million, up 6.1% compared with the $12.74 million in the same period of 2023. Revenue in each of the first six months of 2024 set a new record, with those gains compared to record numbers in 2023.

A record for monthly 2% collections was set in June with $2.839 million.

Of the top five counties in terms of 2% tax collections, only Pulaski County posted a decline (down 2.87%), with Washington County posting the largest percentage increase at 15.08%.

The tourism tax revenue in 2023 was $25.446 million, up 5.8% compared with the $24.049 million in 2023. Revenue in each month of 2023 set a new record, with those gains compared to record numbers in 2023.

Arkansas Tourism Ticker: Tourism tax revenue sets new record in June

UA report: Arkansas waterways support more than 40,000 jobs

by Michael Tilley (mtilley@talkbusiness.net)

The five navigable waterways in or connected to Arkansas are responsible for more than 40,000 jobs in the state and generate an estimated $5.5 billion in revenue for the state economy, according to a new report pushed by the Arkansas Waterways Commission.

The “Regional Economic Impact Study of the McClellan-Kerr Arkansas River Navigation System (MKARNS),” was published for the commission in June 2024 by Heather Nachtmann with the Marine Transportation Research and Education Center (MarTREC) at the University of Arkansas.

Arkansas’ five navigable waterways are the portion of the Mississippi River that is the state’s eastern border, the Arkansas River, and the Ouachita, Red, and White Rivers, according to the commission. Of those, the Arkansas River provides a bulk of the economic impact to the state.

UA report: Arkansas waterways support more than 40,000 jobs

Razorback athletics revenue up nearly 10% in FY2023 to $167.3M

by Paul Gatling (pgatling@nwabj.com)

The University of Arkansas athletics department set a record in operating revenue in the 2023 fiscal year by generating $167.3 million.

The UA reported $166.5 million in athletic department expenses — also an all-time high — for an operating surplus of less than $1 million.

The figures are from the university’s annual financial report to the NCAA. Fort Smith-based Landmark PLC conducts the annual audit. The 2023 fiscal year began July 1, 2022, and ended June 30, 2023.

The athletics department’s revenues continue a rapid climb. The UA reported $152.51 million in revenue in FY 2022, and $132.2 in FY 2021 revenue. Expenses are also skyrocketing. In the past two fiscal years, the department’s spending totaled $144.3 million (FY 2022) and $111.5 million (FY 2021).

Razorback athletics revenue up nearly 10% in FY2023 to $167.3M

Riceland Foods reports revenues of more than $1.3 billion

by Talk Business & Politics staff (staff2@talkbusiness.net)

Stuttgart-based Riceland Foods reported $1.3 billion in annual revenue at its yearly member meeting held Nov. 9 in Jonesboro.

“To make our cooperative better serve the needs of its farmers, the board of directors has directed management to concentrate their efforts for improvement in five primary areas: pool settlements, member and customer relations, employee relations, grain procurement, and working capital,” said Riceland’s Chairman of the Board of Directors Roger Pohlner.

He also welcomed member input.

“We are all One Riceland, working together to accomplish the goals and objectives necessary for us to succeed,” Pohlner added.

Riceland Foods reports revenues of more than $1.3 billion

Riceland Foods reports $1.2 billion in revenues

by George Jared (gjared@talkbusiness.net)

Riceland Foods reported more than $1.2 billion in revenue to its members, staff and guests in attendance at the cooperative’s annual membership meeting on Nov. 17 at the Grand Prairie Center in Stuttgart.

Riceland’s Chairman of the Board Roger Pohlner introduced Jason Brancel, Riceland’s new president and chief executive officer, and shared the latest news.

“The single most important duty of Riceland’s Board of Directors is to make sure we have the best leadership possible in the position that heads up our cooperative,” Pohlner said. “The board put in a lot of hours and hard work to find that right person for the open CEO position, and I am very proud of their efforts and the person selected to lead our cooperative into the future.”

https://talkbusiness.net/2022/11/riceland-foods-reports-1-2-billion-in-revenues/