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Spanish Firm Selected to Manage Airport International Terminal
The Spanish company TBI Airport Management Inc. has won a five-year management contract for Atlanta airport's new Maynard H. Jackson Jr. International Terminal. TBI is a subsidiary of TBI Ltd., owned jointly by Barcelona-based Abertis Infraestructuras S.A., an infrastructure provider, and Aena Desarrollo Internacional S.A., the international business arm of airport and air traffic control organization Aena headquartered in Madrid, according to a May 7 press release. The contract also renewed TBI's deal to manage Concourse E, a relationship that has been in place since the concourse opened in 1994. When the new international terminal, or Concourse F, opens May 16, it will join with Concourse E in providing 40 gates for international flights. Global Atlanta
Submitted 1 years 340 days ago

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Tyson subsidiary halts business with pork supplier accused of abuse
LITTLE ROCK — A subsidiary of Tyson Foods has stopped purchasing pigs from a Wyoming pig breeding supplier accused by an animal rights group of alleged cruel treatment of sows and inhumane conditions, a Tyson spokesman said today. Also, Steve Keigley, sheriff of Platt County in Wyoming, said livestock officials in that state are investigating the cruelty allegations, caught in an undercover video taken last month at the facility. “They are in the process of investigating this complaint,” the sheriff said, adding the video and other materials were provided to his office last week. Arkansas News Bureau
Submitted 1 years 340 days ago

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U.S. embargo of Cuba adds risks to country's deepwater oil drilling, expert
WASHINGTON — The 50-year-old U.S. embargo of Cuba is getting in the way of safety when it comes to deepwater drilling in Cuban waters, an expert on the communist country's offshore drilling activity said Thursday. Lee Hunt, the former president of the International Association of Drilling Contractors, warned that Cold War-era economic sanctions threaten not only Florida's economy and environment but that of Cuba, too, in the event of a major disaster on the scale of 2010's Deepwater Horizon oil spill. The worst-case scenario is "state-sponsored chaos at a disaster site," Hunt said during an event sponsored by the Center for International Policy, a Washington think tank. Tampa Bay Times
Submitted 1 years 340 days ago

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Atlanta's new international terminal art evokes experience of flying
Going to the airport can be a frustrating, stress-filled experience. Or, in the eye of the optimist, it can be a place to reignite the childlike wonder of flight or bring back the glamour of airline travel, to offer a uniquely Southern welcome or an all-American greeting. Count the artists of the Atlanta airport's new international terminal among the optimists. While harried travelers try to get from point A to point B, their artwork aims to at least make the journey more interesting. The works were chosen for the new terminal by a seven-member panel of art experts. Hundreds of artists were considered and a handful selected to submit concept statements. Atlanta Journal- Constitution
Submitted 1 years 340 days ago

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If Florida's recovery is so bland, why is tourism setting records?
As economic rebounds go, Florida's is no barnburner. • "This economic expansion has indeed lived down to our modest expectations," Wells Fargo economists noted in their latest monthly outlook on the nation's recovery. • So it comes as a bit of a surprise to see headlines like "Best tourism month ever" on Wednesday's front page of the Tampa Bay Times or the South Florida Sun-Sentinel's recent "South Florida breaking tourism records." • What gives? You'd think a warm winter up North and high gas prices would have discouraged job-wary tourists from trekking to Florida. • On the contrary. "In a lot of ways, this was pent-up demand," suggests Chris Thompson, CEO of Visit Florida, the state's tourism marketing organization. "People got sick and tired of being sick and tired." Tampa Bay Times
Submitted 1 years 340 days ago

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Wells Fargo: Florida's economic recovery is getting even stronger this year
Florida's recovery from the Great Recession picked up steam last year and "all indications" point to even stronger gains this year, according to a statewide economic outlook released Thursday by Wells Fargo Securities. Among positive signs: In-migration to Florida and hiring have both accelerated; the shadow inventory of homes is gradually being whittled away; and more businesses are expanding. Perhaps the most surprising outperformer stoking a recovery is professional and business services, which account for 40 percent of the jobs that have been added statewide since December 2009. "While Florida will still need a few more years to fully recover all of the jobs lost during the 2007-2009 recession, a change in direction is clearly evident across much of the state," Wells Fargo senior economist Mark Vitner and economic analyst Joe Seydle wrote in a 21-page dissection. Tampa Bay Times
Submitted 1 years 340 days ago

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Jacksonville finishes near last in manufacturing study
Jacksonville's manufacturing sector trails other metropolitan areas and has not grown like other parts of the country, according to a national report released today. Manufacturing accounts for 4.5 percent of all jobs in the Jacksonville area, compared to 8.5 percent nationally for the 100 biggest metropolitan areas. By that measure, Jacksonville ranks 90th among those cities, according to a Brookings report released today. The report by Brookings, a Washington think tank, says manufacturing has shed its rust-belt image and has become more technologically advanced — a trend that opens the door for higher-paid jobs. Florida Times-Union
Submitted 1 years 340 days ago

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Report: Foreign investment adds billions to Virginia economy
U.S. subsidiaries of foreign companies directly employed about 151,000 people in Virginia and contributed about $14 billion to the state's economy, according to a new report by an organization that advocates for international companies investing in the United States. The report by the Organization for International Investment draws on federal government data from 2009, the latest year for which statistics are available on employment by foreign-owned companies. It showed that Virginia ranked 14th in the nation for total number of jobs supported by global investment. When the indirect effects of foreign investments such as supply-chain impacts are included, foreign subsidiaries supported about 476,000 jobs in Virginia, more than 10 percent of the state's workforce, and added about $43 billion to the state's economy, according to an analysis of the data by PricewaterhouseCoopers. Richmond Times-Dispatch
Submitted 1 years 340 days ago

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A closer look at Gestamp's big West Virginia project
After details about the incentives Gestamp will receive for re-opening the stamping plant in South Charleston were released by state Commerce Secretary Keith Burdette, West Virginia Center on Budget and Policy analyst Sean O'Leary crunched the numbers to determine how much the incentives are worth. His estimate: $84.4 million. Over the 13-year period covered by the agreement between Gestamp and the state, O'Leary figures Gestamp would pay $64.5 million in taxes without incentives. But with incentives, Gestamp will pay an estimated $9.2 million - a savings of $55.3 million. In addition to the state and local tax breaks, the state has agreed to extend Gestamp $25 million in loans, a $2.5 million forgivable loan, and $1.5 million in worker recruiting and training benefits. Although Gov. Earl Ray Tomblin has said Gestamp will create up to 700 jobs, the signed agreement doesn't go as far. It specifies that the company will create "no less than 400 jobs." Charleston Daily Mail
Submitted 1 years 340 days ago

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West Virginia's jobless benefits fund remains steady, solvent
CHARLESTON, W.Va. - Although the fund that pays benefits to unemployed West Virginians doesn't have the robust balances it had before the Great Recession, it doesn't appear to be in danger of going broke. The Unemployment Compensation Trust Fund made news in 2009 as the recession gripped the country. So many out-of-work West Virginians were filing claims, it became clear that unless something changed, the fund would eventually go broke and the state would have to borrow money from the federal government to pay benefits. Charleston Daily Mail
Submitted 1 years 340 days ago

 

 

Features & Opinion

 Top Ten Places in the South for Relocating California Companies

Reshoring manufacturing capacity from primarily Asia to the South and Mexico is now a common thing to do and it's all about money. When China joined the World Trade Organization in 2001, the average manufacturing wage in China's Pearl River Delta (PRD) was about 58 cents an hour.

 Randle Report - Business News in the South

 FEATURE  
By Dr. Glen Fenter
Desperation sometimes masks itself in acceptance. Such was the case for Takelia Carter of Marion, Ark. For Carter, the mother of six school-age children in a low paying job, desperation was normative existence. This was her life in Crittenden County, Ark., deep in the Delta where unfortunately one in four families lives well below the poverty level.
 

 Business News in the South - Randle Report

FEATURE     
By Mike Randle
There are numerous factors driving the new industrial revolution in the South. And it is a revolution, as this manufacturing surge that began in 2007 continues to break records year after year in the total number of large, capital intensive projects. One factor, of course, is that reshoring of facilities back to the U.S. continues to grow each year.
 
 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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