LITTLE ROCK, Ark. (Arkansas Business) -- Stocks ending flat, even after the government reported that the nation's economy grew at an annual rate of 4 percent in the second quarter after a sluggish first quarter marred by inclement weather that left many businesses paralyzed.
That quarter logged a 2.1 percent decline in economic activity.
500 workers lose jobs at a plant in Rogers
Bad news for the 500 workers at the Superior Industries International plant in Rogers.
The publicly traded, Van Nuys, California-based company said Wednesday morning that it will close the plant by the end of the year, shifting some production to another plant in Fayetteville and its expanding operations in Mexico.
Superior, which makes aluminum wheels for automakers including Ford, GM, BMW and Toyota, cast the move as a cost-cutting effort to help it compete better.
Superior expects to save $15 million in annual labor costs.
The plant has been operating in Rogers since 1989.
Jobs coming to Monticello with new company
Gov. Mike Beebe and economic development leaders helped announce a new plant set to employ 52 people in 2016.
Zilkha Biomass Energy of Houston saying it will build a $90 million facility to make wood pellets for the electric utility industry.
The pellets are used as an alternative fuel source, and are made from feedstock. They can be integrated into coal-fired plants to create cleaner emissions.
The Arkansas Economic Development Commission said the project is getting a $1 million federal grant administered for infrastructure at the site, roadwork and to build a parking lot.
The company is also eligible for an income tax credit and a sales tax refund for any machinery and building materials for its construction.