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BUILDING A BETTER BUILDING A BETTER FUTUREFUTURE
Claiborne Deming
President & CEO, Murphy Oil Corp.
May 15, 2008
El Dorado Has A Legacy of El Dorado Has A Legacy of Private Support for Public Private Support for Public
EducationEducation El Dorado Education Foundation Founded in 1996
Established and funded three Academic Chairs in El Dorado School District (1st in the US to do so)
Offer Teacher Grants and Awards (have awarded over $570,000 since inception)
Results are apparent – • test scores have improved• enrollment of 5th-12th graders in foreign language courses has increased by 150% in the last 5 years• number of AP courses offered is unparalleled in South Arkansas
Murphy Education ProgramMurphy Education Program Murphy Education Program
Launched in 1997; provides financial incentives for standardized test excellence
During the first year, $9,000 was awarded Since inception, over $930,000 has been awarded
A Trend is Beginning to EmergeA Trend is Beginning to Emerge
El Dorado Today…El Dorado Today…
Union County has a very high Per Capita Personal Income (#2 out of 75 Arkansas counties)
Strong industrial base with skilled workforce (40% in industrial occupations compared to 28% statewide)
Commitment by citizens to establish a strong and viable community
Source: Bureau of Economic Analysis (www.bea.gov), U.S. Census Bureau
However El Dorado is However El Dorado is Vulnerable…Vulnerable…
Continued closings of industrial businesses (i.e., Prescolite, Georgia Pacific, Cooper Tire)
Union County’s populationdecreased by over 5% between2000 and 2007 (AR pop. Increased by 6% during that time)
The unemployment rate has outpaced the state and nation since 2002
Union Cty.
AR
US
AR Union Cty.
Likewise, Our Schools Have Been Likewise, Our Schools Have Been ImpactedImpacted
El Dorado Public School enrollment decreased by 4.6% between 2000 and 2007
How Education Makes A How Education Makes A DifferenceDifference
Education versus GDP/Capita by State
GDP/Capita
Adu
lt P
opul
atio
n w
ith a
Bac
helo
r’s D
egre
e or
Hig
her
Source: BEA, HigheredInfo.org
How Education Makes a How Education Makes a DifferenceDifference
2007 Median Salary by Educational Attainment
Source: US Census (www.census.gov), 25 yrs. or older, year-round, full-time workers
What Makes The El Dorado Promise What Makes The El Dorado Promise Possible?Possible?
Presence of Murphy Oil, a Fortune 500 company, in El Dorado is unique and highly beneficial
Only 11 Fortune 500 companies located in rural setting
Demonstrates the advantage of having a widespread, diversified economic base throughout the US
Murphy has the financial means to make a quick and immediate difference
Murphy has doubled in size over the last five years
Production is set to grow dramatically
Why Now?Why Now?
Excellent schools are critical to area’s ability to attract and retain top talent
A strong school system and promise of higher education will enhance El Dorado’s ability to attract new businesses
And…
The presence of a Flagship city in South Arkansas will be beneficial to our community and region
The El Dorado PromiseThe El Dorado Promise Announced January 22, 2007, Murphy Oil funds program with
$50 million pledge over 10 years
Offers each El Dorado Public School graduate living in the district an opportunity to attend college with up to a 100% tuition scholarship
Eligibility percentage is based upon length of El Dorado Public School attendance
Amount payable is up to the highest tuition charged by an Arkansas public university, however amount is transportable to any institution in or out of state, public or private
El Dorado School District El Dorado School District EnrollmentEnrollment
-108 -142
32
-116
234
-128
140
-200
-150
-100
-50
0
50
100
150
200
250
300
350
400
3500
4000
4500
5000
2000 2001 2002 2003 2004 2005 2006 2007 2008
Tota
l Stu
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nt E
nro
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nt
Ne
t An
nu
al E
nro
llme
nt C
ha
ng
e
15
Union SchoolConsolidation
-12
October 1 year over year data
The kindergarten class is up 11.4% from the previous year.
El Dorado Schools See GrowthEl Dorado Schools See Growth
1- 5 students6-15 students30 – 40 students280 + students
As illustrated in the map below, new students came to El Dorado from across the United States. These are new students that enrolled during the 2007-2008 school year.
Colleges Attended By 2007 Colleges Attended By 2007 El Dorado GraduatesEl Dorado Graduates
75% of the 2007 graduating class went to college compared to 60% in 2006. 89% of these students returned to college for their second semester in Spring 2008.
El Dorado Community Stepping El Dorado Community Stepping Up To The Challenge…Up To The Challenge…
April 2007 – El Dorado citizens passed a 1-cent sales tax, estimated to generate $32 MM over 8 years, to implement El Dorado Forward, a city strategic economic development plan
September 2007 – Voters approved a millage increase to fund the construction of a new high school (passed with 78% in favor)
Results Beginning to Become Results Beginning to Become Apparent…Apparent…
El Dorado Promise news has been picked up in over 200 media publications in the U.S. and seven other countries (including CNN, USA Today, Time Magazine, Washington Post, NBC Today Show, and others)
Union County home sales were up 4.3% in 2007, in spite of the state’s 8.8% decrease for the same period
Chamber of Commerce has worked with over 140 families interested in moving to El Dorado since the Promise was established.
BUILDING A BETTER BUILDING A BETTER FUTUREFUTURE
Claiborne Deming
President & CEO, Murphy Oil Corp.
May 15, 2008
