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Charleston named No. 1 U.S. tourist destination for fourth year; No. 2 in world
For the fourth year in a row, Charleston has been named the No. 1 tourist destination in the country by readers of Conde Nast Traveler. The magazine's annual Readers' Choice awards were announced Monday, and the Holy City was again recognized as a top national and international destination, thanks to its historic sites, food and upscale hotels. Charleston was named the No. 2 destination in the world behind Florence, Italy, which took the top spot by a fraction of a point. Pilar Guzman, editor in chief of Conde Nast Traveler, called Charleston "the little city that could" when she appeared on CBS' "This Morning" on Monday to discuss this year's Readers' Choice awards. Post and Courier
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China GDP Growth Rate Is Slowest in Five Years
BEIJING—China’s economy in the third quarter grew at its slowest pace in five years as it battles a slumping real-estate market and weak domestic demand and industrial production. The results on Tuesday make it increasingly likely that China will miss its annual growth target for the first time since 1998, in the midst of the Asian financial crisis. Chinese leaders in recent months have at times emphasized that their target is an approximate one, of about 7.5%, and that a level slightly below that figure is acceptable to Beijing. The Wall Street Journal
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In Times of Drought: Nine Economic Facts about Water in the United States
This Hamilton Project memo presents nine economic facts that provide relevant background context to the water crisis in the United States. Chapter 1 reviews the historical, current, and projected occurrence of drought in the United States. Chapter 2 describes the importance of water to our national economy. Chapter 3 underscores some of the economic and institutional barriers to more efficient use of water. We examine these issues through the lens of economic policy, with the aim of providing an objective framing of America's complex relationship with water. Brookings
Submitted 5 hours ago

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SAS CEO, N.C. Gov. McCrory on incentives
SAS CEO Jim Goodnight and Gov. Pat McCrory took a break from the fanfare of celebrating SAS' newest building Tuesday to talk incentives. The discussion followed frustrated comments by Goodnight at a recent CED event. There, he criticized incentives that attracted tech companies to the Triangle, saying that keeping salaries competitive was an increasing strain on SAS. McCrory told Goodnight that their takes really aren't that far off. "My goal would be for no company to have to take incentives," he says, pointing to recent changes in tax policy as evidence of that stance. Attracting companies to rural areas, however, requires the added push of incentives, he says. Triangle Business Journal
Submitted 5 hours ago

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Louisiana's business climate, LED ranks among top 10 in U.S.
National location marketing firm Development Counsellors International, or DCI, ranked Louisiana's business climate tied for 10th in the U.S., a 20-spot jump since 2011. The firm also said Louisiana Economic Development tied for second in the U.S. for best-performing state economic development agency. DCI releases the survey every three years. This year it came in conjunction with the International Economic Development Council at IEDC's annual conference in Fort Worth, Tx. and based its rankings on a national survey of 356 corporate executives and site-selection consultants. "The leading economic development organizations identified in this year's survey set the standard across the country for being 'best in class' on so many levels and clearly stand out to site selectors across the country," said DCI President Andrew Levine. NOLA.com
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New Orleans' Post-Katrina Identity Crisis
NEW ORLEANS, Louisiana--Hotel rooms are booked. The convention center is packed. Throngs of revelers spill out of jazz clubs on Frenchmen Street. New Orleans is alive and thriving. Or so it seems. Nearly a decade has passed since Hurricane Katrina flooded the city and displaced more than 400,000 New Orleanians. Billions of federal dollars have poured in to rebuild the Big Easy, along with thousands of volunteers and immigrant day laborers. Now the city boasts several Forbes top rankings, such as #1 Brainpower City and Fastest Growing City Since the Recession. But away from the French Quarter, New Orleans is not the same place it once was. The famously African-American city has gotten whiter and more Hispanic. Townhouses have popped up where housing projects once stood, pushing poor, black residents to the suburbs to find cheaper rent--or to homeless camps under the city's highways. The National Journal
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Onshoring assisting U.S. furniture industry turnaround
The U.S. furniture industry is starting to rebound from the recession in terms of sales and orders, according to a new report. Still, manufacturers and retailers continue to face challenges, including the sluggish economy, worker shortages, rising labor costs, and shifting consumer buying preferences, according to the report from Anderson Bauman Tourtellot Vos, a turnaround management firm based in Greensboro. The report also noted the trend of on-shoring among manufacturers, noting several reasons for bringing operations back to the U.S., including proximity to customers, access to skilled labor, transportation costs and supply-chain lead time. Triad Business Journal
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New Volkswagen production Chattanooga's 'ticket to the future'
Volkswagen's new innovative way of assembling cars, including its planned midsize sport utility vehicle, assures the growth of the Chattanooga plant, an official said Friday. "The SUV opens more doors than simply a new vehicle. It's our ticket to the future in Chattanooga," said Ian Davies, VW Group of America's general manager for product purchasing and supplier readiness. The production platform enables VW to design and produce a variety of vehicles by sharing parts among them. It will provide more production opportunities for the plant as well as possible added business for suppliers, Davies said. Chattanooga Times Free Press
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U.S. economy again drives global growth as top rivals falter
After a long, slow convalescence from the Great Recession, the U.S. economy has emerged this year as a major force for global growth for the first time in a decade, even as some of its top rivals struggle. Despite the sudden loss of confidence on Wall Street last week, the U.S. economy shows little sign of faltering and its solid footing helped nurture a quick recovery in stocks. Economists point out that U.S. growth took off in the spring quarter with a 4.5 percent rebound from a winter slump and is expected to continue at a healthy 3 percent clip in the second half of the year. That far surpasses the growth rates in Europe and even bests the sluggish growth of formerly robust emerging economies such as Brazil and Russia. The Washington Times
Submitted 6 hours ago

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5 days in Kentucky: Friday night football’s bright lights but dim future
BAXTER, Ky. — Teenagers in Harlan County used to count on staying here and becoming business owners, laborers, leaders and politicians. That’s how it worked for generations. But now with the coal industry crippled, the career pipeline is ruptured. Young adults are leaving either to follow parents who have lost jobs or to strike out on their own. “My whole family revolves around coal mining,” said Steven Skidmore, a 17-year-old attending a Friday night football game at Coal Miners' Memorial Stadium, home to the Harlan County Black Bears. But no one in his family is working in the industry now. His father was laid off two years ago, he said, and his grandfather retired. “There ain’t no jobs,” said Skidmore. “Dad, he’s a taxidermist. He started back on his taxidermy. I mean, that’s our income.” Aljazeera.com
Submitted 6 hours ago

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Features & Opinion

 Top Ten Places in the South for Relocating California Companies

The America South is home to almost as many residents as the Northeast and the Midwest combined, but even that statistical record is about to be broken. According to a new Census Bureau study that came out in April, 51 percent of the nation's population jump occurred in the South from 2010 to 2013.
 

 Randle Report - Business News in the South

 FEATURE  
By Stacy Randle
Demographer Wendell Cox recently analyzed the largest gains in holders of bachelor's and post-graduate degrees between 2007 and 2012 in the 51 metro regions in the U.S. of 1 million residents or more. The results were published in Forbes magazine and the South dominated the ranking.
 

 Business News in the South - Randle Report

FEATURE     
This is our annual "Made in the South" issue and it's timely because there is a new player in the South's manufacturing universe. For almost two decades, economic developers and politicos in the South and the U.S. have been chasing Chinese projects with little or nothing to show. Want proof we've been chasing ghosts in China for years? Okay, go ahead and name a Chinese brand that's made in the South? Tick. . .tick. . .tick. Give up?
 
 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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