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Black leaders: Katrina recovery didn't lift African-American businesses
Billions of public and private dollars poured into New Orleans after Hurricane Katrina to help the city recover, a sum credited in part with helping to spur a regional economic resurgence. But local African-American leaders say the majority of that money did not touch their communities in a meaningful way. During a panel Thursday (Aug. 27) on workforce and economic development after Katrina, leaders called for stronger policies aimed at bringing minority and disadvantaged businesses into the economic fold, rather than pushing them out. The talk, moderated by Greater New Orleans Inc. CEO Michael Hecht, was part of a three-day conference the Urban League of Greater New Orleans hosted ahead of the 10th anniversary of the storm. NOLA.com
Submitted 48 minutes ago

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Why are all these California companies moving to Austin? Here are a bunch of reasons
A new study from the San Francisco-based Pacific Research Institute has ranked the regulatory climate for small businesses in California the worst out of all 50 states — and the Bay Area is a prime example of why. The reasons? Costly regulations on short-term disability insurance and a minimum wage that’s 25 percent higher than the national average. "California's regulatory policy makes it more difficult and more costly for current and potential entrepreneurs," said study author Wayne Winegarden, a senior fellow at PRI and a partner in the consulting firm Capitol Economic Advisors. Austin Business Journal
Submitted 1 hour ago

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Albemarle cites Charlotte, N.C.'s 'big-city feel,' other advantages to moving headquarters from Baton Rouge
Specialty chemical maker Albemarle Corp. is moving its corporate headquarters and its performance chemicals business from Baton Rouge to Charlotte, North Carolina. Albemarle also will shift the Baton Rouge employees in its refining solutions business to its existing Clear Lake, Texas, office. The moves will involve about 120 of the company’s employees overall, with almost all of those workers moving to Charlotte. About 60 to 80 of the total will be Baton Rouge employees, which will leave Albemarle with about 500 workers here. The Advocate
Submitted 1 hour ago

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Amazon snags big office space in North Austin
Somehow in all the buzz about Internet retailer Amazon.com Inc. building a huge distribution facility in San Marcos, there was little mention of the company quietly occupying a big chunk of office space in North Austin. Specifically, Amazon (Nasdaq: AMZN) has grabbed 76,000 square feet at Domain 7. The lease for Class A office space in the northwest submarket accommodates 165 new full-time employees. The brokers involved signed a non-disclosure agreement, so finding out specific details has been like a game of hide-and-seek. Austin Business Journal
Submitted 1 hour ago

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Orlando software firm creating jobs after $70M investment
An Orlando-based software company is planning to double its workforce within three years, thanks to a recent investment by a Boston equity firm. PlanSource Holdings Inc., which on Aug. 24 announced it received an investment of $70 million from Great Hill Partners, is planning to create more than 300 jobs within three years. Right now, the company has 325 employees. "Companywide, we plan to hire 150 people next year," said Dayne Williams, CEO of PlanSource. "Many of the jobs will be in Orlando." Orlando Business Journal
Submitted 1 hour ago

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Report: Taxes on corporate headquarters in North Carolina among nation's lowest
Businesses that choose to move their headquarters to North Carolina might be able to save themselves a lot of money in taxes. A new report from the nonpartisan Tax Foundation found that North Carolina has the fifth-lowest tax rate in the nation for corporate headquarters. With an effective tax rate of 10.4 percent for mature firms, North Carolina was behind only Wyoming, South Dakota, Montana and North Dakota for taxes on corporate headquarters. Triangle Business Journal
Submitted 1 hour ago

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Bristol-Myers Squibb's success in Tampa was a major draw for Johnson & Johnson
There are a number of reasons Johnson & Johnson chose Tampa for its shared services North American headquarters, but Rick Homans believes there was one factor that really sealed the deal. Homans, the CEO of the Tampa-Hillsborough Economic Development Corp., said Thursday that the success of Bristol-Myers Squibb's "capability center," which handles the company's information technology, marketing services, business and finance services, was a huge draw for Johnson & Johnson (NYSE: JNJ). Tampa Bay Business Journal
Submitted 1 hour ago

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Tampa wins Johnson & Johnson shared services North American HQ
Johnson & Johnson will locate its North American shared services headquarters in Tampa. The Tampa-Hillsborough Economic Development Corp. on Thursday said the company (NYSE: JNJ) will create 500 jobs over the next three years and invest $23.5 million in the facility. The jobs will pay a minimum average annual salary of $75,000. Jacksonville Business Journal
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A first: Austin beats San Antonio's hotel business
It was not a good second quarter for San Antonio’s hotel industry. Fewer rooms were booked and overall revenues declined. But the more troubling news for San Antonio is that, for the first time, according to industry tracker Source Strategies Inc., the Austin area passed up the Alamo City, generating more hotel revenue than a market so heavily dependent on the tourism sector. Austin Business Journal
Submitted 2 hours ago

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Atlanta Braves lay first brick at SunTrust Park (SLIDESHOW)
Eutis Morris, the man who laid the first bricks at Fulton County Stadium and Olympic Stadium, laid the first bricks at SunTrust Park on Aug. 27. The team also buried two time capsules dedicated to the Braves and Cobb County. Before laying the brick, Morris placed a 50-cent piece below the brick. “It’s tradition to put a 50-cent piece under an important building like this, he said. The stadium, which is halfway completed, is ahead of schedule and budget, Atlanta Braves President John Schuerholtz said. Atlanta Business Chronicle
Submitted 2 hours 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     
After I finished the cover story for this issue, I read an interesting article by economist Paul Krugman, the op-ed columnist for the New York Times, titled, "Partying like it’s 1995." Generally I side with Krugman, even though I am a journalist, not an economist. Occasionally, though, I read some of his stuff and ask myself, "What planet did Krugman come from?" Like when he predicted a shift of automotive assembly to Canada after Toyota announced a new plant in Woodstock, Ontario in 2005 because of "free healthcare," among other benefits. That Toyota deal was the last major automotive assembly plant announced in Canada and I predict it will be the very last one for the Canadians.
 
 Nashville Mayour Karl Dean
If you have ever seen one of my presentations, then you know about the word "reshoring" and how that phenomenon has lifted the spirits of even the most skeptical Southerners regarding the future of the region's economy. After all, in the last four decades, manufacturing has suffered a bloodletting never before seen in U.S. history. The biggest factor behind the slow and long meltdown that began in the 1990s was the herd mentality to offshore manufacturing capacity to cheaper locales, primarily by U.S.-owned companies.
 


 

 

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