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Super Bowl 50: The Teams, QBs, Fans and Food by the Numbers
For the first time since 1971, the NFL is sacking its standard use of Roman numerals and is simply calling this week’s matchup between the Denver Broncos and Carolina Panthers Super Bowl 50. The alternative, Super Bowl L, was just too problematic. “L immediately brought up so many negative connotations,” NFL creative director, Shandon Melvin, told CBS Sports. One of the most common associations for the letter L is the hand gesture that universally means “Loser.” The league was, understandably, not willing to risk having people refer to the Super Bowl in a negative way. The Fiscal Times
Submitted 3 days ago

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Oklahoma Wind Farms Bring Millions In Local Tax Revenue
A new study from Oklahoma State University has found that wind energy projects in the western part of the state are bringing hundreds of millions of dollars in tax revenue into local county coffers and school districts — while also increasing the state’s energy independence. Cleantechnica.com
Submitted 3 days ago

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Three Big Questions on the Job Market, and How January’s Numbers Answer Them
Get used to jobs numbers like those newly reported for the United States Friday morning — if we’re lucky. It’s not that the new data blew the lid off expectations or pointed to some radical acceleration in job growth in the opening weeks of 2016. Quite the contrary. The nation added 151,000 jobs in January, which was below analysts’ expectations and well below the revised 262,000 jobs added in December. That looks an awful lot like “reversion to the mean,” and it wouldn’t be surprising if final revisions show a slower pace of job growth across the two months. New York Times
Submitted 3 days ago

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The seven states that are doing much worse than the rest
For most states in the U.S., last year ended on a strong note. But there are a few places in the U.S. that are struggling. Recently released data from the Philadelphia Fed indicates that seven states -- North Dakota, Wyoming, Wisconsin, Illinois, Mississippi, Louisiana and Alaska -- likely saw their economies contract during the last three months of 2015. Washington Post
Submitted 3 days ago

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Norfolk Southern facilitated $4.2 billion in industrial investment along rail lines in 2015
Norfolk Southern (NYSE: NSC) assisted 93 industries in locating or expanding their businesses along its rail lines in 2015. The 61 new and 32 expanded industries represent an investment of $4.2 billion by NS customers and are expected to create 6,200 new jobs in the railroad's territory, generating more than 85,000 carloads of new rail traffic annually. PRnewswire.com
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Buying a House? Think Twice if You Live in These Cities
It will take homebuyers at least three years to break even on their investment in some of the nation's largest housing markets, and even longer in others. While homeownership has long been deemed the "American dream," it may not actually make sense for younger Americans right now, according to researchers at Zillow, a real estate listing and analytics company. The Fiscal Times
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Life Expectancy Varies Greatly Within Cities
The typical life expectancy for residents of the low-income Gilpin neighborhood of Richmond, Va., is just 63 years. A short drive across the river to the wealthier Westover Hills finds residents living a full 20 years longer. Neighborhood life expectancy gaps are fairly common and driven by a range of factors, such as poverty, infrastructure and access to health care. The Center on Society and Health at Virginia Commonwealth University (VCU) is collecting and mapping life expectancy data for several cities. In the 10 areas reviewed so far, researchers found large gaps -- regardless of how large or densely populated jurisdictions were -- said Derek Chapman, the center’s associate director for research. Governing.com
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Tire plant, port operation to add 3,500 Mississippi jobs
Mississippi is set to land a $1.45 billion tire plant in Hinds County expected to bring 2,500 jobs, the largest economic development announcement for the area in a generation and one of the largest such projects of its kind in North America. The state also is expecting to land a shipping operation at the State Port of Gulfport that would bring a $68 million investment and 1,000 jobs. The two projects combined will be the single largest economic development announcement in the state's history, totaling 3,500 jobs and more than $1.5 billion in private investment to the state. Gov. Phil Bryant on Wednesday called for a special session — within the current legislative session — to start at 8 a.m. Thursday to deal with requested state incentives for the projects. Lawmakers will be asked to provide incentives for Continental Tire, locating in Hinds County, and Topship, LLC, expanding operations on the coast, in the coming days. Clarion Ledger
Submitted 4 days ago

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Sales of Tennessee-made VW Passat soft amid emissions scandal (Editor's note: RandleReport.com's Michael Randle is quoted in this story)
U.S. sales of Volkswagen's Passat fell in January to the third lowest monthly mark since production of the sedan started in Chattanooga in mid-2011, the company reported Tuesday. Still, the $600 million plant expansion to assemble a new sport utility vehicle in Chattanooga is moving ahead. A city panel on Tuesday approved a change to a $55.6 million building contract at the factory and endorsed tax breaks for a new VW parts supplier. "They've got to get this SUV lined up and running as quickly as they can," said Mike Randle, publisher of Southern Business and Development magazine, about the vehicle slated for production in late 2016. Chattanooga Times Free Press
Submitted 4 days ago

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S.C. union membership falls in ’15, now lowest rate in the nation
The percentage of South Carolina workers who were members of a labor union in 2015 dropped to its lowest level in at least a decade, and the Palmetto State now ranks last in the nation for employees represented by organized labor. Unions represented 2.1 percent of the state’s salaried and hourly wage workers last year, the federal Bureau of Labor Statistics said in a new report Thursday. That is down from 2.2 percent in 2014. Union membership in North Carolina — which, at 1.9 percent, had the lowest total in 2014 — grew last year to 3 percent, now the second-lowest in the nation. There were 41,000 union members in South Carolina last year. Post and Courier
Submitted 4 days 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     
According to Chinese theory, yin is a passive, negative force and yang is an active, positive force. Chinese philosophers believe that the opposing forces aren't really contradictory. Instead, they are interconnected and complimentary, interacting to create a balance in one's life. 
 
 Nashville Mayour Karl Dean
The Annie E. Casey Foundation's KIDS COUNT report was released in the summer quarter. I try to read it every time it comes out since I find it to be the best indicator of child poverty, a statistic everyone involved in economic development needs to be aware of. The Annie E. Casey Foundation is a charity that supports disadvantaged children. 
 


 

 

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