Economic indicators are in for the first quarter of 2022 and several look good for Conway. Not only did unemployment rates drop across the city and county, but tax collections were up, indicating more people were spending money in the City of Colleges.
Unemployment Drops in City, Faulkner County
Unemployment rates started the year at 3% in Conway and 3.2% countywide. They closed the first quarter of 2022 at 2.7% in Conway and 2.8% in Faulkner County. Here’s how those numbers stacked up against state and national numbers.
Food & Hotel Tax Collections Up Nearly Quarter Million in 2022
Food and hotel sales tax collections were record highs in 2021, and this year’s numbers are outpacing it through the first quarter. Food collections topped $1 million through the first three months, while hotel collections neared $100,000. Together, collections were up nearly a quarter million dollars over the same time period in 2021.
Here’s a closer look:
City Sales & Use Tax Tops $9 million through March
City sales & use tax collections are up 20% through the first quarter of the year. 2022 numbers were up 26% in January, 21% in February and nearly 10% in March. Over the first three months, collections totaled more than $9.3 million.
Here’s a closer look:
