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Florida's unemployment holds steady
Florida's unemployment rate held at 4.7 percent from May to June, with the overall number of people without jobs down about 5,000 in that period, according to state Department of Economic Opportunity figures. The preliminary monthly numbers, released Friday, indicate that out of a workforce of about 9.74 million, there were 453,000 Floridians who qualified as unemployed in June. In a news release about the new numbers, Gov. Rick Scott highlighted private-sector job growth. Orlando Business Journal
Submitted 13 minutes ago

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Orlando leads the state in job growth
Orlando had the most over-the-year job gains out of all 24 Florida metro areas, according to data from the Florida Department of Economic Opportunity. The metro region came in at No. 1 with the addition 51,600 jobs — an employment growth of 4.5 percent. Following that was Tampa, which added 43,400 jobs, then Fort Lauderdale, which added 35,900 jobs. Orlando Business Journal
Submitted 18 minutes ago

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It's official: Orlando EDC, chamber confirm merger
The Orlando Economic Development Commission and the Central Florida Partnership, which includes Orlando Inc., the city's chamber of commerce, confirmed their plans to merge. The EDC board voted and signed a memorandum of understanding at its July 21 meeting; the Central Florida Partnership's board met to vote on and sign the memo this afternoon, as Orlando Business Journal reported earlier today. Orlando Business Journal
Submitted 23 minutes ago

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Shell to reduce Gulf of Mexico workforce by 25 percent
The Netherlands-based Royal Dutch Shell PLC (NYSE: RDS-A, RDS-B) last week disclosed plans to reduce its Gulf of Mexico workforce by 25 percent by the end of 2016, according to reports. The company, which has its Shell Oil Co. arm based in Houston, told employees on July 20, NOLA.com | The New Orleans Times-Picayune reports. The reduction could include cutting, consolidating or relocating jobs, according to NOLA.com. Houston Business Journal
Submitted 33 minutes ago

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Exxon Mobil, Saudi's SABIC considering Gulf Coast petrochem complex
An Exxon Mobil Corp. (NYSE: XOM) affiliate and Saudi Basic Industries Corp. announced July 25 they are considering developing a jointly owned petrochemical complex on the U.S. Gulf Coast. The development would potentially be located in Texas or Louisiana near natural gas feedstock and would include a steam cracker and derivative units, according to a release from SABIC. Before investing, both companies will conduct studies and work with local and state government to pick a site. Houston Business Journal
Submitted 38 minutes ago

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N.C.'s June unemployment drops below 5%
North Carolina’s economy crossed another benchmark in June as the unemployment rate dipped below 5 percent for the first time since October 2007, ending a string of 105 consecutive months at 5 percent or higher. In addition, employers reported adding nearly 20,000 workers from May to June, a figure bested by only three months since the beginning of the recession. Triad Business Journal
Submitted 43 minutes ago

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Alabama lawmakers polled on lottery legislation
According to Alabama Senate President Pro Tem Del Marsh, Alabama lawmakers are being polled in regard to their support for legislation establishing a lottery ahead of a presumed special session. Gov. Robert Bentley said last week he's considering a special session to tackle budget issues, such as the lingering $85 million gap in the state's Medicaid program. Lawmakers funded up to $700 million for Medicaid, which requires at least $785 million to operate. Birmingham Business Journal
Submitted 48 minutes ago

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Industrial surf's up in KC, other inland-port markets
The rapid growth of e-commerce has fueled development of warehouses and distribution centers in the 12 primary U.S. inland-port markets — including Kansas City — at nearly twice the national rate, according to a new report from CBRE Group Inc. Meanwhile, even with their rapid growth, many of those markets can't keep up with demand. The inland ports with the lowest vacancy rates are Chicago (6.6 percent), Kansas City (7.4 percent) and the Inland Empire region of Southern California (7.6 percent). Kansas City Business Journal
Submitted 53 minutes ago

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Georgia Ports Authority OKs $20 million inland port in Chatsworth
The Georgia Ports Authority on Monday stamped its approval on spending $19.7 million to build the Appalachian Regional Port in Chatsworth, Ga. The funding for ARP includes $10 million from the state and $9.7 million from the GPA. The 40-acre inland terminal in Chatsworth will use highly efficient rubber-tired gantry cranes to move cargo to and from CSX Corp. (NASDAQ: CSX) trains. Construction should be complete in late summer 2018. Atlanta Business Chronicle
Submitted 58 minutes ago

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Radial adding more than 1,200 jobs in Georgia
Radial plans to hire 1,250 workers in Brunswick and Lawrenceville, Ga., for the 2016 holiday season. Radial, formerly eBay Enterprise, runs a customer call center in Brunswick and a fulfillment center in Lawrenceville. “Radial works behind the scenes to ensure our clients are exceeding their customers’ expectations year round, and particularly during the holiday season,” said Ricardo Layun, general manager of North American Customer Care at Radial. Atlanta Business Chronicle
Submitted 1 hour 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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