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U.S. Executives Remain Bullish on American Manufacturing, Study Finds
Decision Makers at Large Manufacturers Expect the U.S. Share of Their Production to Rise an Average of 7 Percent in Five Years; Half Expect to Boost U.S. Factory Jobs by 5 Percent or More, According to Latest BCG Manufacturing Survey CHICAGO, October 23, 2014—U.S.-based executives at large companies remain bullish on American manufacturing, and their actions are starting to show it, according to new research by The Boston Consulting Group (BCG). The firm’s third annual survey of senior manufacturing executives at companies with sales of $1 billion or more found that the number of respondents who said that their companies are already bringing production back from China to the United States had risen 20 percent—from roughly 13 percent to 16 percent—in the past year. BCG.com
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Researchers: Triangle startups will go 'on a rampage'
Optimism. That's the big takeaway word from the first installment of a quarterly North Carolina State University survey measuring the outlook of Triangle entrepreneurs. Initial results show optimism for increased revenue, spending and employment well into spring 2015. Almost 87 percent of the 199 Triangle-area entrepreneurs surveyed expect an increase in revenue over the next six months. "With a quarter of the sample reporting being pre-revenue and still 87 percent of the folks anticipating positive increases in sales, that could mean that the nascent or pre-revenue businesses we are cultivating in the Triangle are about to sort of go on a rampage," says Jeff Pollack. Triangle Business Journal
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Private companies operate behind closed doors, make a big economic impact
There is a misconception that "private" means "small," according to Brian Hamilton, chairman of financial information company Sageworks. "In reality, private companies come in different shapes, sizes, varieties, and revenue figures. A lot of them have chosen to remain private, despite many opportunities to do otherwise," Hamilton said in a statement. The 100 largest private companies in Tampa Bay – those on our Tampa Bay Business 100 List – employ a combined 256,334 workers and posted a collective $52.8 billion in revenue in 2013, up 9.7 percent from 2012 revenue. Tampa Bay Business Journal
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Senate must pass RAMI Act to keep manufacturing strong: reader opinion
Manufacturing has long been one of the premier cornerstones of the American economy. Across the country, one in six private sector jobs is supported by manufacturing and 12 million people are employed directly by manufacturers. Alabama is no different. Here, 13 percent of the population works in manufacturing. Alabama houses three internationally known car manufacturers in Mercedes, Honda, and Hyundai, and also was the staging ground for NASA's creation of the Saturn V rocket, playing a major part in putting the first man on the moon. AL.com
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Birmingham's 5 most-wanted retailers: Can the Magic City land Ikea?
Trader Joe's was once one of Birmingham's most coveted stores. When the Birmingham Business Journal ran a poll last year of the most wanted brands in the Magic City, readers overwhelmingly said they wanted the boutique grocer. Now that Trader Joe's has responded to the demand by announcing a 12,000-square-foot store at the Summit, we decided to survey readers again to find out which store is now the most wanted in Birmingham. Birmingham Business Journal
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Texas House Speaker calls for incentives reform, report says
Texas House Speaker Joe Straus thinks that state lawmakers need to overhaul the state's economic incentives programs, according to the Austin American-Statesman, which reported comments Straus made at a gathering of members of the Texas Taxpayers and Research Association Thursday. The comments made by the Republican from San Antonio come in the aftermath of the release of a report from the Texas State Auditor's Office that found that hundreds of millions of dollars of incentives from the Texas Enterprise Fund went to companies that submitted no applications or made no promises to create jobs, among other discrepancies. Austin Business Journal
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Georgia Power will invest $12M to drive electric vehicle sales
Georgia leads the nation in electric vehicle adoption — one of out about every 60 new cars registered in the Peach State, in the first six months, was an all-electric vehicle. Now, the state's electric utility, Georgia Power Co., will invest $12 million to accelerate that momentum by adding EV charging infrastructure. Georgia Power will beef up electric vehicle charging infrastructure through 2016 via electric bill credits and 50 new public charging locations. Atlanta Business Chronicle
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American Airlines posts record profit of $942 million
FORT WORTH — Less than a year after leaving bankruptcy, American Airlines Group is flying high. The Fort Worth-based carrier, which merged last December with US Airways, said Thursday that it made almost $1 billion in profit in the third quarter, the best quarterly financial performance in its history. Meanwhile, Dallas-based Southwest Airlines reported a record profit of $329 million as the industry benefits from fuller airplanes, a string of mergers and dropping oil prices. Star-Telegram.com
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Dominion Power won’t lower eastern N.C. rates after winning tax ruling
While several major utilities have lowered rates to account for an N.C. corporate income tax cut, Dominion North Carolina Power will continue to collect slightly higher charges for income taxes it no longer pays. Under an order issued by the N.C. Utilities Commission on Oct. 9, the commission cannot require a utility to reduce its rates for the cut in taxes until the commission reviews the utility's costs in a general rate-setting case. Charlotte Business Journal
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Halliburton asks courts to block BP bid for new trial on oil spill ruling, website reports
Halliburton is asking a federal judge to reject BP's request for a new trial to determine what caused the 2010 Gulf of Mexico oil spill, Bloomberg reports. Halliburton, one of the contractors on the blown out Macondo well, argues a federal judge did not rely on excluded testimony when he ruled BP carried most of the blame for the spill in early September, the report says. The Times-Picayune reported Oct. 3 that BP is challenging the ruling, which it says was based on evidence that was supposed to be excluded from the trial. Nola.com
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Features & Opinion

 Top Ten Places in the South for Relocating California Companies

The America South is home to almost as many residents as the Northeast and the Midwest combined, but even that statistical record is about to be broken. According to a new Census Bureau study that came out in April, 51 percent of the nation's population jump occurred in the South from 2010 to 2013.
 

 Randle Report - Business News in the South

 FEATURE  
By Stacy Randle
Demographer Wendell Cox recently analyzed the largest gains in holders of bachelor's and post-graduate degrees between 2007 and 2012 in the 51 metro regions in the U.S. of 1 million residents or more. The results were published in Forbes magazine and the South dominated the ranking.
 

 Business News in the South - Randle Report

FEATURE     
This is our annual "Made in the South" issue and it's timely because there is a new player in the South's manufacturing universe. For almost two decades, economic developers and politicos in the South and the U.S. have been chasing Chinese projects with little or nothing to show. Want proof we've been chasing ghosts in China for years? Okay, go ahead and name a Chinese brand that's made in the South? Tick. . .tick. . .tick. Give up?
 
 Nashville Mayour Karl Dean

We try to change up the categories in our annual Ten Top 10s section, but we always include the "Ten People Who Made a Difference" category. This year though, we are honoring 12 and you will learn why by reading about this group of folks who have made a difference in the South. Here is our annual list that includes executives, economic developers and politicians who have made a difference in the South's economy.


 


 

 

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