Food-plant addition set in Fayetteville
Pinnacle Foods will expand its food manufacturing facility in Fayetteville, the company said Thursday.
Pinnacle did not disclose the cost of the expansion. The company said it will add 25 new jobs to the plant in the next two years as a result of the expansion.
The company is adding a new brand, Evol, to the location, and will upgrade the plant. The Evol line contains products that use cage-free eggs and will be free of antibiotics, artificial foods or genetically modified organisms.
State incentives include an income tax credit of 1 percent of total payroll, a $200,000 grant from the Governor's Quick Action Closing Fund, and a sales and use tax credit, said Scott Hardin, spokesman for the Arkansas Economic Development Commission.
Pinnacle's Fayetteville facility has 420 employees. The company also has a sales office in Bentonville.
-- Jessica Seaman
LR tech company to open Conway site
Mainstream Technologies will open an office in downtown Conway, the Little Rock-based company said Thursday.
The Conway office will open in September and employ 15 people. The company plans to hire an additional 30 employees over the next five years.
Mainstream Technologies is an Internet technology firm that provides managed services and hosting services to clients.
Chief Executive Officer Johnny Burgess said in a prepared statement that, "Mainstream Technologies is celebrating our 20th anniversary this year and we are excited about expanding into Conway, which offers us the opportunity to expand our footprint in an area that is rich in both talent and vision."
-- Jessica Seaman
State index surges 2.96: 13 issues gain
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, rose 2.96 to 342.26 Thursday. Thirteen issues advanced.
"U.S. stocks moved higher on Thursday amid a better [unemployment] claims reading, a beat-and-raise earnings report from Wal-Mart and a rise in crude oil," said John Blackwell, senior vice president and managing director of equity trading at Stephens Inc. in Little Rock.
Total volume for the index was 35.1 million shares.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 08/19/2016