Jonesboro, AR – Jonesboro Right Now – The Jonesboro Advertising and Promotion (A&P) Commission on Thursday heard updates on the upcoming Jonesboro sports complex and its cash position.
The meeting took place after the facility’s new name, the First Community Bank Sportsplex, was unveiled at a topping-out ceremony, during which the building’s final beam was installed to signify the structure’s completion.
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A&P Commission executive director Craig Rickert spoke about First Community Bank’s 15-year, $4.525 million naming rights partnership with the complex. As part of the contract, Rickert said the bank will pay $275,000 for the first year, which will then increase to roughly $300,000 annually over those 15 years.
First Community Bank will also pay for the sign in front of the complex, which Rickert said would cost around $100,000.
“It’s gonna put the Sportsplex on such a firm financial footing to start out,” Rickert said.
| READ MORE: Final Beam Installed, New Name Revealed for Jonesboro Sports Complex
The facility’s general manager, Bradon Shrader, whose hiring was announced in March, also provided updates on upcoming events and staffing.
He said interviews were ongoing for the First Community Bank Sportsplex’s marketing and business directors, and that events and tournaments were still being booked and scheduled for 2027. The complex is projected to open in early 2027.
In addition to bringing in outside tournaments, Shrader said the complex was working with the city’s Parks and Recreation Department to coordinate schedules with recreational youth sports teams to use the facility.
John Sparks, senior vice president of operations for the Sports Facilities Companies, spoke about how the complex will manage its finances and cash flow. The First Community Bank Sportsplex will be a completely cashless venue, Sparks said, accepting credit and debit cards, gift cards, and other non-cash payment methods. He said this reduces liability and eliminates human error in counting cash.
“It immediately goes in and immediately goes down to your bank account. There’s no human error in it,” Sparks said.
The commissioners also heard updates regarding tax collections. Commission chair Jerry Morgan said about $65,000 would remain in the commission’s 3% hotel tax account at the end of the year. There is currently around $310,000 in that account. As for the 1% hotel tax account, Morgan said the current cash position was $226,000, and estimated $408,000 at the end of the year.
Revenue from 3% of the 4% hotel tax is used to fund requests from organizations and events. The remaining 1% is used for various projects with the City of Jonesboro.
Morgan said the commission’s prepared foods tax account, which funds the Sportsplex, had about $7.7 million. Because the sports complex is still being built, Morgan said it has had many cash inflows and outflows.
“While the sports complex will not be completed at the end of the year, we do feel like it’ll be completed soon after that and get a better estimate on the cash position once we get closer to completion of the sports complex,” he said.
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