LITTLE ROCK, Ark. (Arkansas Business) -- It's been another busy week in the Natural State. Lance Turner has your Arkansas Business Week in Review.
It was a week of more development in downtown Little Rock.
On Thursday, developers announced the start of construction on the K Lofts, a 32-apartment project on the vacant upper floors of downtown's 315 Main St. building.
The project, by developer Scott Reed, was first announced two years ago. Revitalizing the historic building has posed many challenges, which has delayed progress.
Only the ground level restaurant space -- home to the Cafe Montego -- has been developed so far.
The project has been helped by state historic tax credits.
And there was more development in northwest Arkansas.
The University of Arkansas set to begin site work on a 52,000-SF baseball and indoor track training facility starting this week.
Fundraising continues for the project, which is slated to be built on the north side of the Randall Tyson Track Center on the UA campus. The cost is estimated between $7.8 million and $9.6 million.
Kinco Constructors Inc. is the general contractor for the baseball/track project. Witsell Evans Rasco of Little Rock is on the design team.
Money is also being raised for two additional projects at the UA -- an academic center/dining hall for athletes and a basketball practice facility.
Also this week: more earnings from Arkansas public companies.
First, Deltic Timber Corp. of El Dorado said the acquisition of the rest of Del-Tin Fiber pushed second-quarter net income up 220 percent to $11.2 million, or 89 cents per share.
The timber and real estate company said part of the income boost came from realizing an after-tax gain after Deltic purchasing the remaining half of Del-Tin on April 1.
And USA Truck Inc. of Van Buren continued its efforts to rebound after a couple of tough years.
The company said second-quarter revenue of reached $115 million, up about 8 percent from the same quarter last year.
Still, the company reported a net loss of $1 million for the quarter, an improvement from a $3.5 million loss it reported during the same quarter last year.
There was also expansion for a northwest Arkansas PR firm.
Mitchell Communications Group of Fayetteville said Wednesday that it will expand its operation into New York and Chicago.
Adding offices in Chicago and New York will give the agency more presence in those cities and make collaboration easier with its new owner -- Dentsu Network.
Earlier this year, Mitchell Communications became the first public relations firm purchased by Dentsu Network, a global agency founded 112 years ago in Japan.
And finally, Saline Memorial Hospital in Benton laid off Dr. David Lipschitz, the well-known geriatrician who had been working at the hospital since last fall.
Lipschitz said Saline management decided that having a geriatric clinic, called the Healthy Aging Center at Saline Memorial, was just financially unattainable.
Bob Trautman, CEO of Saline Memorial, said the center was facing a significant budgeted loss and no choice but to close the center.
(Source: Arkansas Business)