State Capitol Week in Review

Jan 27, 2012

For Arkansas legislators, there will never be an acceptable level of unemployment. We take it as a personal responsibility to ensure that every Arkansan who wants gainful employment has it. We know sometimes that being out of work is the hardest work in the world.

That is why when Arkansas’s December unemployment numbers were released this week, it was met with mixed reaction. The good news is that the state’s unemployment rate is down for the third consecutive month in a row. The bad news is that 7.7% of Arkansans are still out of work.

Compared to national numbers, Arkansas is faring well. The nationwide unemployment rate stands at 8.5%.

In the last few months, there have been exciting announcements across the state when it comes to job creation. The Unilever plant in Jonesboro announced it would be expanding, generating an investment of $40 million dollars and adding approximately 125 jobs.

The Jonesboro facility produces leading personal care brands such as TRESemme, Nexxus, and St. Ives.

And in Osceola, a company which manufactures steel components for wind turbines broke ground on a new facility. Beckmann Volmer says it will invest $12 million and hire 300 workers. The Arkansas Economic Development Commission was able to offer incentives to Beckmann Volmer using the Governor’s Quick Action Closing Fund. The General Assembly approved the transfer of $50 million dollars in General Improvement Funds for the Quick Action Closing Fund in the 2007 Regular Session. Additional funds were appropriated in the 2009 and the 2011 Regular Sessions.

Another positive sign of growth in our state’s economy was heard this week in the Joint Budget Committee. The Department of Workforce Services informed the legislature that barring another recession, it does not plan on requesting anymore advances from the federal government to make unemployment payments.

The Department was forced to borrow $359 million over the last few years in order to keep up with the demand from Arkansans who were out of work. Now, because more people are back on the job, the Department is not only able to meet the current demand but they are also able to pay back the loan. Officials with the department told the Joint Budget Committee that they will repay $30 million this year, and barring another recession, will repay the entire amount by 2015.

We are cautiously optimistic that we will continue to see unemployment numbers declining in the state over the next few months. As long as industries invest in Arkansas, Arkansas will invest in industry. While we can do our part to make sure we have an educated work force and competitive tax rates, getting good paychecks back in bank accounts has to be a team effort.





State Capitol
Week in Review

    Jan 27, 2012

For Arkansas legislators, there will never be an acceptable level of unemployment.[More...]


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Legislative History

Over the years Denny Altes has been the sponsor or co-sponsor of a number of bills covering a wide range of issues. Denny Altes has also served as member, vice-chair or chairman of over a dozen committees. [More...]


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