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New business starts have collapsed since the recession
Though there is immense focus on startups and new businesses, a new study shows just how disconnected that narrative is from reality. The study, released by the Economic Innovation Group (EIG), shows that fewer new businesses have been formed in the last five years than at any time in the last 30 years. The new businesses that did evolve over that period were almost universally concentrated in large metro areas on the East and West Coasts. Memphis Business Journa
Submitted 4 minutes ago

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125 workers to lose jobs in Spring Hill plant closing
Capstone Nutrition plans to lay off 125 workers in Spring Hill as the nutritional supplements maker closes its Tennessee manufacturing facility next month. The Tennessean
Submitted 9 minutes ago

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30 Top Cities for Women Entrepreneurs, See Which Are Southern
Different communities may attract different kinds of entrepreneurs. Some qualities — such as customers with sufficient disposable income, availability of a large employee pool, low taxes and fewer regulations — certainly tend to make a community more appealing to entrepreneurs in general. Still other aspects of a community might appeal to a specific type of entrepreneur. Smallbiztrends.com
Submitted 14 minutes ago

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Five problems, five bipartisan solutions to advance the tech economy
Even in a presidential-election year, when partisan passions burn hottest, a number of issues transcend red and blue because they are in the interest of all Americans. Nurturing our tech economy is one issue on which lawmakers of both parties can find bipartisan consensus and work across the aisle. Innovation is the driving force that makes our nation great. The following are five areas where Congress can promote American innovation and foster economic growth and job creation in our tech economy: The Hill
Submitted 19 minutes ago

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How poor is Miami? The rich earn $40 for every $1 earned by the poor
A second real estate boom and resurgent hiring market haven’t made a dent in Miami-Dade’s poverty problem or allowed local incomes to regain ground lost during the recession, according to a new study. The report by the Metropolitan Center at Florida International University offers the latest detailed look at the Miami area as one where circumstances favor the very rich and make it very difficult for the poor to escape their economic lot. Miami-Dade’s poverty level in 2014 matched where it stood in 2010, a time when the local unemployment rate topped 10 percent and real estate values were still plunging from an historic housing crash. That’s despite record hiring levels and the lowest unemployment rate in eight years. Miami Herald
Submitted 24 minutes ago

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Cocoa OKs millions in aid for Wal-Mart site
Cocoa City Council members Tuesday night gave a unanimous thumbs up - and several million dollars in cash and economic incentives - to Wal-Mart for a 239-employee distribution center in the city, just east of Interstate 95. Floridatoday.com
Submitted 29 minutes ago

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McAuliffe announces California brewery expanding to Virginia
RICHMOND, Va. (AP) — Gov. Terry McAuliffe says another craft beer company has decided to locate its East Coast operations in Virginia. The governor's office announced Tuesday that San Diego-based Ballast Point Brewing and Spirits will open a brewing operation in Botetourt County. McAuliffe said the company will invest $47.8 million in the project and create 178 new jobs. The company can receive nearly $3 million in state funds. The Virginian-Pilot
Submitted 33 minutes ago

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In business startups, rural America is falling behind
Americans in small towns and rural communities are dramatically less likely to start new businesses than they have been in the past, an unprecedented trend that jeopardizes the economic future of vast swaths of the country. AZcentral.com
Submitted 39 minutes ago

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Are temp-workers canary in the coal mine?
Temp workers are being shed for the first time in five years. Is this an early sign of wider trouble or a cycle in the new normal of the economy? Seattle Times
Submitted 44 minutes ago

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Insurer on brink of acquisition continues to add jobs in Tampa Bay
Humana Inc. is adding about 60 permanent jobs and nearly 200 seasonal jobs to its Tampa Bay workforce. The company is hiring telesales specialists for its direct marketing services telesales team, a press release said. The jobs will support Humana’s direct marketing services call center at NetPark, with those hired providing national phone sales and enrollment assistance for Humana’s Medicare benefit plans and senior products, as well as specialty products.
Submitted 49 minutes ago

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Features & Opinion

 Top Ten Places in the South for Relocating California Companies

Urban areas have all kinds of assets that are easy to spot. They have the population, so the labor shed is not usually an issue. Urban areas are also connected by better roads, rail and air service and many have river and deep water ports. Usually Internet access and other forms of communication are more efficient in urban areas. And you have a larger array of quality of life options to choose from, such as the cultural assets found in metropolitan areas.
 

 Randle Report - Business News in the South

 FEATURE  
By Mike Randle
The belief that "80 percent of all new jobs come from existing business and industry" is an out-of-date, old-fashioned fabrication. I have no idea how it started, where it started, or who said it first, but there are professionals in economic development as well as leaders of government in the South who actually believe that each year, 80 percent (why 80 percent I don't know, either) of all new jobs are created by existing business and industry. I hear it all the time and I just roll my eyes. There is nothing static in economic development but this: 100 percent of all lost jobs come from existing business and industry. That, and of course 100 percent of the time site consultants never pay for a meal.
 

 Business News in the South - Randle Report

FEATURE     
According to Chinese theory, yin is a passive, negative force and yang is an active, positive force. Chinese philosophers believe that the opposing forces aren't really contradictory. Instead, they are interconnected and complimentary, interacting to create a balance in one's life. 
 
 Nashville Mayour Karl Dean
The Annie E. Casey Foundation's KIDS COUNT report was released in the summer quarter. I try to read it every time it comes out since I find it to be the best indicator of child poverty, a statistic everyone involved in economic development needs to be aware of. The Annie E. Casey Foundation is a charity that supports disadvantaged children. 
 


 

 

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