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Randy Boyd: Why Tennessee's broadband gap matters to businesses
A new study shows that 13 percent of Tennesseans don't have access to broadband internet. That may be a more significant problem for rural Tennesseans than business owners in cities, but Randy Boyd, commissioner of the Tennessee Department of Economic and Community Development, says it's one all the state's residents should care about. Memphis Business Journal
Submitted 3 days ago

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Here's how some Californians are trying to stop businesses from moving to Austin
Barry Broome, CEO of the Greater Sacramento Area Economic Council, revealed a new marketing campaign July 20 to highlight the youthful and educated Sacramento workforce for businesses that may consider locating there. The economic development organization's message is primarily targeted at Bay Area executives feeling squeezed by cost and other factors that diminish quality of life. Instead of relocating to Seattle or Austin, stay in sunny California, the pitch goes, and move to Sacramento where you can dramatically reduce expenses. Austin Business Journal
Submitted 3 days ago

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How to increase diversity in Austin's tech sector, according to east-side accelerator
The lack of diversity among Austin's tech companies and investors is a major threat to businesses' bottom line in an increasingly diverse country, according to a new report examining what companies can do to foster diversity in their ranks. It is also one of the area's greatest opportunities, as Central Texas is positioned to become a leader on diversity initiatives and corporate programs. Austin Business Journal
Submitted 3 days ago

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America's biggest oil boom came under Obama
Harold Hamm, a shale oil billionaire, gave a speech on Wednesday night at the GOP Convention arguing that Trump will become the first president to achieve American energy independence. "President Obama chose not to get it, and he has tried to destroy this renaissance and all of its benefits," Hamm said in Cleveland. But the numbers tell a different story. Believe it or not, Obama has presided over the biggest increase in oil production in American history, even if he can't take direct credit for it all. CNN Money
Submitted 3 days ago

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Nucor Profit Soars on Lower Costs, Improving Steel Prices
Nucor Corp. reported a steep increase in quarterly profit Thursday and forecast a robust third quarter, as the steelmaker cashed in on a widening gap between weak commodity markets overseas and domestic prices propped up by new U.S. import tariffs. Nucor, now the country’s biggest steelmaker by output, said net profits rose 87% to $233.8 million, or 73 cents a share, up from $124.8 million, or 39 cents a share, a year earlier. Steelmakers in the U.S., on the defensive this year after being hit with high import levels that crushed prices last year, have successfully lobbied the government for new tariffs on steel imports. The Wall Street Journal
Submitted 3 days ago

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We’ve got China “right where we want ’em”
For those who still languish over “losing to China” or believe that the economy is still in recession, wake up and smell the data. Economic development in the South was about as good as it gets in calendar year 2015 according to the data (see page 36). And as for China, borrowing a quote from the late football coach Bear Bryant that he made in the half-time locker room down 15-0 to Georgia Tech in 1960, “We got ’em right where we want ’em.” For those of you who don’t know the rich history of Alabama Crimson Tide football, Bama scored all of its 16 points in the fourth quarter, kicking a field goal on the last play of the game to beat Tech 16-15. Southern Business & Development
Submitted 3 days ago

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Golden Flake, an iconic Alabama brand, is being sold in a jaw-dropping $141 million deal
Golden Flake will have a new owner but officials said to expect little else to change with the iconic Southern brand. Utz Quality Foods Inc. said today it is purchasing Golden Enterprises, the maker of Golden Flake snack foods, for $141 million, including $7 million in debt. Yellowhammernews.com
Submitted 3 days ago

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North Carolina eatery named one of the 'best new restaurants in America'
Planning a getaway trip to the mountains in Asheville? You may want to check out dining spot Local Provisions while in town. Eater has listed the downtown Asheville spot as one of the "21 Best New Restaurants in America," as chosen by the website's restaurant editor after traveling the country for more than a year and sampling hundreds of meals from new eateries. It was the only establishment in the Carolinas included on the list. Triangle Business Journal
Submitted 3 days ago

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NASA awards Baylor College of Medicine $250 million
Baylor College of Medicine and NASA have teamed up to study the effects of long-distance space flight on the human body, in preparation for NASA's journey to Mars. NASA awarded BCM a grant of up to $246 million to be doled out over a minimum of six years with the ability to expand to 12 years to form the NASA Translational Research Institute, according to a statement. The program will begin Oct. 1 at BCM's Center for Space Medicine, which was founded in 2008 to study space biomedical research. Houston Business Journal
Submitted 3 days ago

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Austin unemployment tied for lowest in state; Texas job growth sluggish
Although Austin’s unemployment rate ticked up slightly in June from May, the state capital, facing the tightest job market it's seen in years, is now tied with Amarillo for the lowest metro unemployment rate in the state. Austin Business Journal
Submitted 3 days ago

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Features & Opinion

 Randle Report - Business News in the South

For those who still languish over "losing to China" or believe that the economy is still in recession, wake up and smell the data. Economic development in the South was about as good as it gets in calendar year 2015 according to the data. And as for China, borrowing a quote from the late football coach Bear Bryant that he made in the half-time locker room down 15-0 to Georgia Tech in 1960, "We got 'em right where we want 'em." For those of you who don't know the rich history of Alabama Crimson Tide football, Bama scored all of its 16 points in the fourth quarter, kicking a field goal on the last play of the game to beat Tech 16-15.
 

 Randle Report - Business News in the South

 FEATURE  
By Mike Randle
Today, factories in the U.S. make twice as much product as they did in 1984. And they are doing it with one-third of the manufacturing workforce. In fact, the output of durable goods in 2015 was the highest in the nation's history. So, we do have a strong manufacturing base, at least in the South, much of the Midwest and parts of the West, and it is getting stronger because on a cost-basis, we can compete with any major manufacturing nation in the world.  
 

 Randle Report - Business News in the South

FEATURE     
The argument for or against a minimum wage hike continues between the reds and the blues, as well as within the economic development community in the South. Should we stay the course with a minimum wage under $8 an hour to better compete with Mexico, the South's biggest competitor for jobs, or set a minimum wage just over $10 an hour, a wage floor most centrists support? That $10 per hour is, according to the MIT Living Wage Calculator, about right in most states in the South for one adult to be able to cover basic expenses plus all relevant taxes.
 
 Randle Report - Business News in the South
Recent data from the Computing Technology Industry Association (Comp TIA) showed that the technology industry is one of the fastest growing job generators in the South and the nation. The report also indicated that technology job compensation is growing faster than any other sector.
 


 

 

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