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The Comeback of Middle Wage Jobs
One of the economy's bright spots is the job market - and it may be even brighter than it seems. Not only are there more jobs (1.3 million so far in 2016), but they may be better-paying, according to a new analysis by economists at the Federal Reserve Bank of New York. The Fed economists report that middle-wage workers - earning roughly $30,000 to $60,000 - represent the fastest growing segment of the labor market. By contrast, earlier in the recovery, low-wage and high-wage jobs dominated employment increases. Realclearmarkets.com
Submitted yesterday

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Dryden manufacturing plant relocating to Florida
Following a troubling trend for the Southern Tier’s manufacturing sector, nearly 200 jobs in the region will be lost after Mettler Toledo Hi-Speed, an international supplier of precision scales and instruments, announced it will relocate its plant in Dryden to Florida. Ithica Journal
Submitted yesterday

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Vivint Solar Expands Into Florida, Creating Jobs
Residential solar provider Vivint Solar has announced its expansion into Florida, with availability beginning in the Tampa Bay area. The company has hired approximately 40 employees in the state and plans to continue hiring as it extends into new regions. Solarindustrymag.com
Submitted yesterday

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Honda Pioneer growth brings 250 new jobs, $45 million HSC plant expansion
Honda of South Carolina Mfg., Inc. (HSC) today announced new investment of $45 million in a 115,000 square foot expansion and innovation project designed to meet growing demand for Honda side-by-side vehicles produced exclusively in the South Carolina plant. The investment is expected to result in the creation of 250 new jobs, which the company has already begun to fill. Posersportbusiness.com
Submitted yesterday

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Marion gets $500,000 grant for rail spur construction
NEW HOPE, Tenn. — Marion County has been awarded a $500,000 Appalachian Regional Commission grant to assist with the construction of a rail spur which, in turn, will help one local company with its expansion plans. Chattanooga Times Free-Press
Submitted yesterday

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More than 40 mayors support Chattanooga broadband expansion
More than 40 mayors and city leaders are supporting Chattanooga's mission to expand broadband service to rural areas. Members of bipartisan group Next Century Cities sent letters to Mayor Andy Berke and Mayor Bruce Rose of Wilson, North Carolina—both cities that are trying to gain local control over their broadband service. Nooga.com
Submitted yesterday

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Fast Internet Can Lure Businesses, Says TN Entrepreneurship Advocate
Ultrafast broadband is increasingly a must-have for high-tech companies, especially those in telemedicine, 3D printing, and other emerging industries. But currently, connection speeds vary widely by location—states like Tennessee are home to cities that have built high-speed fiber Internet networks while other states, such as Wisconsin, are trying to play catch-up. Xconomy.com
Submitted yesterday

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Aldelano to open facility in Jackson, create 68 jobs
Aldelano Solar Cold Chain Solutions officials announced Friday the company will locate a new research and development and manufacturing facility in Jackson. The solar-powered products manufacturer will invest $1.5 million to update an existing space in Madison County and create 68 new jobs, officials said. Jackson Sun
Submitted yesterday

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From health care capital to innovation hub: Positioning Nashville as a leader in health IT
Among U.S. advanced industries, significant attention has begun to focus on the promise for local economic development of a number of regional “health IT” (HIT) or “digital health” clusters. Given their promise, several regions have begun to implement strategies to strengthen local HIT clusters. Brookings.edu
Submitted yesterday

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Vantage To Establish Manufacturing Complex In Nashville, Tennessee
Vantage LLC is investing $5 million to establish a manufacturing plant in Nashville, Tennessee. The company plans to create 100 manufacturing and assembly jobs during the next five years. Area Development
Submitted yesterday

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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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