Economic outlook promising for NWA in 2013
By: KARK 4 News
Updated: February 9, 2013
Top economists spoke to hundreds of business and community leaders in Rogers Friday about predictions for the 2013 economy.
Director of the University of Arkansas Center for Business and Economic Research Kathy Deck says northwest Arkansas is expected to have a great year.
"When you compare our performance to the state and the nation we've just blown them all away. We've regained our pre-recession employment highs here, and we really see our key industries hitting on all cylinders," Deck says
Deck says the area should see substantial employment gains across several key sectors.
"We're going to continue to see our key industries, professional and business services, and trade do very well," Deck says. "We also, with Crystal Bridges have a burgeoning hospitality sector."
Construction of both houses and highways should grow this year too.
John Roberts, president and CEO of J.B. Hunt Transport Services, Inc. says his company produced record earnings last year, and he's cautiously optimistic about 2013.
"It seems to me like our area always does a little better than the rest of the world," Roberts says. "We have three really really good companies here, big companies, and a lot of people that support those big three companies, a great university, great climate, I just think we've got a good package all together here."
Deck says the national economy also needs to grow for the region's success to continue.
