Kathy Deck: Slower Growth on Tap for Northwest Arkansas

Kathy Deck said northwest Arkansas and health care services will be strong points for an otherwise less robust Arkansas job market in 2017. Deck, the director of the Center for Business and Economic Research at the University of Arkansas in Fayetteville, made her remarks Friday at the 23rd annual Business Forecast Luncheon at the Hammons Center in Rogers. A year ago, Deck used "Cruising Altitude" as a metaphor for her Arkansas presentation; this year's outlook was less rosy. "I now see us as more circling and trying to avoid the turbulence," Deck said. "Not exactly coming in for a landing but not an ascent either. That does mean we expect to see somewhat of a slowed pace into the rest of the year." Deck said non-farm employment grew just 0.2 percent in Arkansas and by 0.7 percent in northwest Arkansas. Northwest Arkansas' job market is dominated by the trade, transportation and utilities industry and the professional and business services industry, which combine to account for 44 percent of the area’s jobs. That should change in 2017. Northwest Arkansas is in the midst of a health care boom with multimillion-dollar construction projects by Mercy Northwest Hospital, Arkansas Children's Hospital and Washington Regional Medical Center. Deck predicts an addition of 1,000 health care jobs as a result of the investments. Overall, she projects 4,400 jobs to be added in the region in 2017. Despite northwest Arkansas' strong projection — even as Deck admitted that 4,400 jo...
Source: Arkansas Business - Health Care - Category: American Health Source Type: news