< Previous68 AR K AN S AS : TH E S T A TE TH A T R U N S LI K E A B U S I N E S STake a home tour, corporate-style, around Arkansas and you’ll discover some great neighborhoods for raising profi ts, regional economies and yes, families. e home offi ce Sam Walton established back in in Bentonville was needed because the company had outgrown its original home on the Bentonville square. Nearly a half-century later, the growth is in the footprint of the offi ce itself, which Walmart President and CEO Doug McMillon described in a recent open letter as a “patchwork of more than buildings in Northwest Arkansas,” many of which “are signifi cantly beyond their shelf life. ey are expensive and ineffi cient to maintain, costing millions of dollars of accelerating upkeep every year. And because they are so dispersed, they literally encourage us to work in silos and cause us to waste time and energy traveling between locations, many of which have inadequate parking options.”So a new home offi ce is in order, still in Bentonville, this time along J Street, and with the sort of st century amenities today’s knowledge worker has come to expect: lots of natural light, immediate access to fi tness facilities and community trail systems, and higher-quality food services. Now the community coordination, planning and design process has just begun. But it’s the next chapter in the success story that began when “Mr. Sam” opened his fi rst store in nearby Rogers on July , . Today Walmart operates more than , stores in countries and several e-commerce websites, employs approximately . million associates, and operates more than Walmart and Sam’s Club distribution Walmart’s new home office is one of many corporate administrative hubs finding a comfortable fit with room to grow in the Natural State.by ADAM BRUNSt heB U S I N E S S MANA G E M E NT & S E R V I C E S‘Winning Future’Walmart Store No.1 (below) opened in Rogers, Arkansas, in July 1962. Today the retailgiant, which operates over11,700 stores in 28 countries in addition to e-commerce websites, still calls Northwest Arkansas home.Photos courtesy of WalmartA R K A N S A S : T H E S T A T E T H A T R U N S L I K E A B U S I N E S S 69centers in the U.S. alone.“This is part of Walmart’s strategy to win,” the company notes on its website. “The new facilities will help accelerate change, accommodate a more digitally native workforce, and encourage more collaboration and speed. The combined changes will help us get the most out of our existing teams, and also help us attract the next generation of talent we need to compete.”Springdale is Where Tyson Foods’ Heart IsThe company has been doing business in Arkansas for 83 years, and in April 2018 marked 50 years of continuous operation at its plant in North Little Rock, which today employs 200 people, 34 of whom have 20 years of service or more. The company’s purchase of the plant “marked the start of our production of further-processed chicken, which became the cornerstone of our poultry business,” said John Tyson, chairman of Tyson Foods’ Board of Directors. “It also enabled us to enter the food service business.”Through its subsidiaries, Tyson Foods today operates facilities in 20 Arkansas communities, employing more than 23,000 team members (nearly 20 percent of the company’s 122,000 globally) with an annual payroll of more than $1.3 billion. Annual payments to Arkansas-based family farmers who grow chickens for Tyson Foods exceed $260 million. The company estimates its total statewide annual economic impact to be more than $1.9 billion.In November 2017, Tyson celebrated the grand opening of the company’s new office building that will bring approximately 300 additional team members to Emma Avenue in downtown Springdale, where another Tyson building already is home to 100 team members.Bank of the Ozarks Grows in Little Rock — AgainIn Ozark in April 2018, Bank of the Ozarks announced it will construct its fourth operations building in downtown Ozark and create as many as 133 new jobs over the next five years. The bank recently was named the nation’s best-performing bank, claiming the top spot in the S&P Global Market Intelligence ranking of regional banks for 2017. But that isn’t all the bank is building.In September 2017, the bank’s CEO and Chairman George Gleason joined Arkansas Governor Asa Hutchinson and Little Rock Mayor Mark Stodola to formally announce the bank’s plans to build a new 247,000-square-foot corporate headquarters in Little Rock. The bank acquired a 44-acre site at The Ranch located on Highway 10 in West Little Rock for initial development and future expansion, as needed over time, for its corporate headquarters campus to support the bank’s continued growth. Approximately 500 employees are expected to move into the building when construction is completed in late 2019 or early 2020, with capacity to accommodate 800 to 900 employees.“Our home state has provided a talented and dedicated workforce, enabling our company to thrive and grow,” said Gleason. “Little Rock’s southern charm, abundant arts and entertainment venues, beautiful and natural setting and rich heritage also contribute to our ability to recruit exceptional talent at a national level. Our new campus in Little Rock will provide capacity for our company’s long-term growth over many years.” 70 A R K A N S A S : T H E S T A T E T H A T R U N S L I K E A B U S I N E S Shose who only glance at the Arkansas economy might be forgiven for thinking it’s all about food, forest products and the good folks at Walmart. In the global corporate universe, however, what’s unforgivable is a missed opportunity. And there are healthy indications that the state’s strengths in advanced manufacturing, health care, services and, yes, food processing, are converging to present a bioscience opportunity worth more than a quick appraisal.According to Site Selection magazine’s Conway Projects Database, life sciences projects landing in Arkansas over the past few years include multiple investments by Baxter International, whose plant in Mountain Home has produced disposable medical products for over years; a $.-million manufacturing investment creating more than jobs by OurPharma in Fayetteville; an expanded distribution center for Sterigenics International in West Memphis; and a $-million, -job investment in North Little Rock announced recently by Safe Foods Corp., which originally spun out of the University of Arkansas for Medical Sciences.“ e success of Safe Foods has helped provide an optimal climate and ideal opportunity to grow the company by investing in this vertical integration,” Chris Coleman, CEO of Safe Foods, said in an email. “ is expansion aligns with our core value of innovation while increasing our competitive advantage. e new building will enable an increase of overall effi ciency by housing the various operational aspects of the company under one roof. e centralized location also provides convenient access to rail and interstate highways.”Founded in , Safe Foods ensures food supplies around the globe are safer by reducing foodborne illnesses and related deaths. Today Safe Foods partners with more than half of the poultry plants in the A legacy of services, data, science, clinical care and institutional support stands Arkansas in good stead when it comes to life sciences innovation of tomorrow.by A D A M B R U N SB I O S CI E N CETWorking from StrengthsWorking from StrengthsStrengthsWorking from StrengthsWorking from StrengthsWorking from Working from StrengthsWorking from Working from Working from Working from Working from United States in addition to several international markets.“Safe Foods is committed to providing quality products and services that ultimately help keep consumers healthy,” said Coleman. “ is investment better positions us to continue that legacy in a more eff ective and effi cient manner.”Over Baxter’s decades of growth at its plastics and manufacturing complex in Mountain Home, the facility has received the Arkansas Governor’s Quality Award for performance excellence and the Shingo Prize, a coveted global award for manufacturing operational excellence. It’s also invested in the workforce pipeline so crucial to its lines of production, helping cut the ribbon in November at a new technical center on the campus of Arkansas State University in Mountain Home (ASUMH) in order to accommodate expansion of the school’s mechatronics and machining labs. e company in early had employees enrolled in the expanded mechatronics program — a combination of mechanical engineering, electrical engineering, computer control and information technology.In Fayetteville, the newly hatched OurPharma is focused on addressing the need for medications that are in short supply regionally and nationally. e initial focus will be on sterile-to-sterile compounding of injectables and intravenous fl uids needed by hospitals, surgery centers and clinics. “We want to fi ll a great need for generic drugs locally, in the region, and nationally by starting with compounding, and then progressing into the manufacturing of generic pills, tablets and capsules,” said Dr. Peter Kohler, CEO of OurPharma, in announcing the company’s investment in November . “Our goals are to be a major generic drug company over the next decade and to provide aff ordable and much needed medications to the patients.” e company has plans for four phases of development over a -year period. e fi rst phase will focus on compounded medications used in hospitals and clinics. e next two phases, which will be fi nished in three years, OurPharma plans to expand into the generic drug market and will focus on making aff ordable insulin products.“I am pleased to welcome OurPharma as the fi rst generic drug manufacturer in Arkansas,” said Governor Asa Hutchinson. “Drug costs are an increasing concern, not just for Arkansans, but for citizens throughout the country. It’s great to see Arkansas at the forefront of the research and technology behind the manufacturing of aff ordable options that will improve the quality of life for many families. Dr. Kohler’s decision to locate OurPharma in Arkansas speaks volumes about our state’s business climate and our workforce.” “It’s great to see Arkansas at the forefront of the research and technology behind the manufacturing of affordable options that will improve the quality of life for many families.”— Asa Hutchinson, Governor of ArkansasA R K A N S A S : T H E S T A T E T H A T R U N S L I K E A B U S I N E S S71R E C R E A TI O N & E NTE R T AI N M E NTby SAVANNAH KING72 A R K A N S A S : T H E S T A T E T H A T R U N S L I K E A B U S I N E S SA R K A N S A S : T H E S T A T E T H A T R U N S L I K E A B U S I N E S S 73Arkansas didn’t come by its nickname “ e Natural State” by accident. Its reputation comes from its stunning geography, tranquil waterways and adrenaline-pumping outdoor activities.In , Arkansas was visited by million travelers from around the globe who spent $. billion in the state. Visitors are attracted by Arkansas’ historical destinations, arts and culture, museums, nightlife and natural surroundings. With many recreational assets, tourism is growing. In fact, it’s one of Arkansas’ top three industries with more than , jobs.Some of the state’s most popular cultural destinations include the William J. Clinton Presidential Library and Museum in Little Rock and the Crystal Bridges Museum of American Art in Bentonville. Historical locations like Bathhouse Row in Hot Springs and Native American heritage sites around the state are also hotspots for travelers. e Natural State boasts three National Forests and breathtaking Photos courtesy of Arkansas Department of Parks and Tourism74 AR K AN S AS : TH E S T A TE TH A T R U N S LI K E A B U S I N E S Sstate parks and museums and more than trails that wind along rivers and streams, climb to scenic vistas, and pass by numerous waterfalls. Mountain biking trails stretch from the Ozarks to the Ouachita Mountains with new trails opening frequently. Some of the newest trails, which opened in , include Slaughter Pen in Bentonville and Iron Mountain in Arkadelphia. In , the International Mountain Biking Association selected Bentonville as the site for that year’s World Summit. Arkansas tied with Colorado for having the second-most designated mountain biking trails with fi ve IMBA Epic Trails.Arkansas is also known for having some of the best trout fi shing in the country with more than , miles of fi shable streams and rivers, and some , acres of lakes, bayous and creeks that are perfect for year-round freshwater fi shing. e White River is a popular location for trout fi shing, as is the Little Red River, the Little Mississippi River and other waterways in southern Arkansas. With sights as beautiful and numerous as these, it should hardly come as a surprise that the fi lm industry is picking up in Arkansas and has been for years. e opening scene in the classic movie “Gone with the Wind” was shot at e Old Mill in North Little Rock. More recent productions include the faith-based fi lm Arkansas is also known for having some of the best fi shing in the country.In 2017Arkansas was visitedby29 MILLIONfrom around the globetravelersseries of “God’s Not Dead” and the third season of HBO’s crime anthology “True Detective.” Homegrown indie filmmakers are calling the shots in Arkansas as well. “Antiquities” is one such film shot entirely in the state and produced by Arkansas-based production startup Mortuus Pater Pictures. Beyond the scenery, Arkansas offers residents a quality of life that can’t be beat. Arkansas’ cost of living index is 83.4, according to Sperling’s Best Places. The average commute is just 21 minutes. And the weather is nice with a temperate climate and average highs of 73 degrees and a low of 53 degrees. According to NerdWallet, the cost of living in Little Rock is 139 percent less than what it would cost to live in New York City, 85 percent less than San Francisco, 57 percent less than Washington D.C., 55 percent less than Boston and 26 percent less than Chicago. Mountain biking is a popular pastime in Arkansas.76 A R K A N S A S : T H E S T A T E T H A T R U N S L I K E A B U S I N E S SP H OTO G A L L E R YNature’s Perfect StateLake Ouachita Vista Bicycle TrailButcher & Pint, BentonvillePinnacle Mountain, Little RockArkansas River, Little RockPhotos courtesy of Arkansas Department of Parks and TourismNext >