Wind energy just got a nice bump. It came after a key federal agency authorized a project funded in part by Google to lay the groundwork for an underwater power line. The off-shore wind deal, known as the Atlantic Wind Connection, could start putting steel in the ocean by 2014. Clean energy has been given a thumping from its opponents in recent months. And while this $5 billion project would be getting its money from private investors, it would still rely on the same kinds of tax breaks provided to developers of wind -- programs that are set to expire by year-end. At issue is whether the country wants more wind and if so, does it want to invest public resources off-shore. Energybiz.com
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Treasury Secretary Timothy Geithner on Thursday said the U.S. “can’t afford” to extend the Bush-era tax cuts for the upper-income when they expire later this year, as he spelled out the Obama administration’s economic views in a speech to the Greater Baltimore Committee in Maryland. Mr. Geithner’s speech touched on a number of key fiscal and economic issues. Here are some takeaways: 1) President Barack Obama has said he wants to extend the Bush-era tax cuts only for those families earning less than $250,000 and he’s vowed to veto any bill that tries to extend the tax cuts for the upper income as well. Speaker of the House John Boehner (R., Ohio) said Tuesday the House would vote this fall to extend all of the tax cuts. Mr. Geithner made the economic argument Thursday why the White House won’t accept such a proposal. Wall Street Journal
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If you’re a burger fan in North Carolina, you just got a big step closer to being able to say the words “make it rare.” The N.C. Commission for Public Health on Wednesday approved the adoption of most of the 2009 the federal food code. Among other changes, it would allow restaurant customers to order raw or undercooked foods if the restaurant provides a warning – usually a note on the menu – to remind you it’s dangerous. That’s the same procedure already followed in many states, including South Carolina. Charlotte Observer
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The Louisville metropolitan area should gain enough jobs this year to recover all of those lost to the recession, but mixed signals call for a cautious economic outlook. That was the word Wednesday in the Mid-Year Economic Update issued by Indiana University Southeast business professor Uric Dufrene. Louisville and its surrounding counties in Kentucky and Indiana saw solid growth in professional business services over the past year. “It’s been the fastest-growing sector this past year,” Dufrene said. The area gained 8,500 jobs in the sector, which he said includes such things as payroll processing, accounting, legal services and similar fields. Louisville Courier-Journal
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Once again, Tampa Bay leads the nation in foreclosures, by a lot. The number of bay area properties receiving a notice of default, scheduled auction or bank repossession jumped nearly 18 percent from March to April according to a RealtyTrac report released today. Year-over-year, the jump topped the nation rising 59 percent; Miami placed second with 38 percent. Notices for scheduled auctions and bank repossession accounted for about 59 percent of the 4,295 filings last month in the bay area, the report said. The filings indicate banks are attacking a glut of homes near the end of the foreclosure process. That's good news. Tampa Bay Times
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After falling last year for the first time since the start of the Great Recession, the number of people declaring bankruptcy in the Orlando area has continued to decline so far in 2012, raising hopes that the pace of going broke has been broken. Although personal insolvency is still much worse now than before the 2007-09 recession, the retreat in bankruptcy filings and other measures such as the unemployment rate are an indication the downward trend may have traction, experts say. Orlando Sentinel
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Online retailer Amazon is starting a new wave of hiring for full-time jobs at its distribution center near Cayce. Company officials aren’t specifying the total that will be added, but one Lexington County leader expects the payroll will be at least 1,500 and as many as 2,000 by Dec. 31. If that prediction is accurate, Amazon will be adding at least 1,000 jobs based on what company officials said its staff was at the end of 2011. The State
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Not once did the names of Angela Merkel, Germany’s chancellor, or France’s president, Nicolas Sarkozy, who had been defeated just days before, come up during the presentations at a luncheon celebrating Europe Day held in Atlanta on May 9. But Paula J. Dobriansky, an American foreign policy expert who has served in key roles as a diplomat and policy maker in the administrations of five U.S. presidents, said during her luncheon address that she felt it was another “time of transition” for the transatlantic relationship similar to what happened following the collapse of the Soviet Union. Global Atlanta
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Georgia’s ports directly support 153,884 jobs statewide -- an addition of 25,000 jobs since 2009 -- according to a University of Georgia report released Thursday. The public ports at Savannah and Brunswick, along with neighboring private port facilities, also account for $39.2 billion in statewide economic impact, or direct spending, the study prepared by UGA’s Terry College of Business says. Three years earlier, when the last ports study was done, the economic impact was pegged at $36.5 billion. “The outstanding performance of Georgia’s deep water ports, relative to other American ports, reflects strong competitive advantages,” wrote UGA economist Jeffrey Humphreys. “These advantages are largely the result of strategic investments in port facilities by the state of Georgia over many years.” Atlanta Journal-Constitution
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WASHINGTON — An agreement to process depleted uranium at the Paducah Gaseous Diffusion Plant will keep the sprawling facility open for another year and preserve 1,200 jobs, Kentucky lawmakers and federal energy officials announced Tuesday. A series of arrangements involving the federal government and energy suppliers will provide a market for the uranium, Energy Secretary Steven Chu said in a statement. The Paducah plant was scheduled to close at the end of this month. The deal marks a reversal in the Obama administration’s reluctance to keep the Paducah plant running. The agreement also is a victory for Republican lawmakers Mitch McConnell, the Senate GOP leader; Sen. Rand Paul; and Rep. Ed Whitfield; all of whom appeared to be fighting long odds just months ago. Louiville Courier-Journal
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