TODAY’S PROGRAM: Bentonville, Bella Vista, Rogers and Springdale Rotary Clubs – Special guest speaker: Governor Mike Beebe

LAST WEEK’S PROGRAM:
President, Jonathan Moore, led the Club with singing “America” and saying the Pledge of Allegiance. Invocation was given by Pamela Cicioni. Dick Trammel led the club in singing “America The Beautiful”.

Dick Trammel introduced Kathy Deck, Director for the Center for Business and Economic Research. Kathy gave a program on the Arkansas Economy of 2008 – An Update.

Kathy expects the employment growth in Northwest Arkansas to continue to out pace national and state averages. In 2008, the Northwest Arkansas economy is likely to experience continued moderated growth, much like in 2007.

• In Arkansas, non-farm employment has been growing but getting flat with a 1-2% growth nationwide, but 0% growth in AR

• Fayetteville-Springdale-Rogers year over year employment growth in March showed no employment growth, the first time since 2000. We are experiencing a negative growth in the Business Services area in the last month.

• NWA held up when other growth didn’t happen in AR. Ft. Smith is seeing employment decline and the Little Rock-North Little Rock-Conway area held at a 1% level

• AR has had 20,000 jobs in the manufacturing sector disappear since 2004 and a growth of over 80,000 in the service sector.

• The Natural Resources and mining sector has experienced a growth of over 100,000 jobs. The Fayetteville Shale Play has affected jobs in all sectors. The Fayetteville Shale Play is on unconventional reservoir of natural gas discovered to be viable in economic quantities. The Fayetteville Shale was named after the place where the outcropping of shale first appears.

In 2006 Kathy participated in a 2006 economic impact study and presented some highlights:
$5.5 billion in economic output would be generated from 2005-2008
It would create almost 100,000 jobs associated by the Fayetteville Shale Play by 2008
$357.7 million state and local taxes would result

Then in 2007 she redid the economic impact study and the findings:
$2.6 billion in economic output generated (62.5% higher than projected in 2006)
Over $900 million state and local taxes (43.1% higher than projected in 2006)

ANNOUNCEMENTS:
President Moore reminded everyone that we will not be meeting on Tuesday the 13th. We will meet on Wednesday – guest speaker will be Gov. Mike Beebe. Don’t forget to purchase your tickets. See Maccada Peoples

VISITING ROTARIANS AND GUESTS: Stennett Thompkins introduced today’s visiting Rotarians:
Chris Gilreath – Fayetteville Downtown
Steve Hughes – Overland Park, KS

Rotarians with guests:
Pam Bird introduced past Rotarian Donna Rohrer, who has moved back into the area from Denver
Susan Jason introduced Henry Dunning, an 8th grader from Bentonville who is job shadowing
Bruce Branch introduced Jason Owens
David Jones introduced his wife Andrea
Judene Kuszak introduced Fr. Shawn Wesley
Cyndi Bilyeu introduced Laurie Marshall

BOB HAMILTON’S STUDENTS GUESTS: Introduced today by Bert Kell
Jorga Haller, a former scholarship recipient who is finishing her degree in Education and wants to be a math teacher
Jasmine Haller (Jorga’s sister) – daughter of Karen Sawyer

UPCOMING PROGRAMS:
TBA

The meeting ended with President Moore leading the Club in the Four-Way Test.