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Gov. Rick Scott wants $85 million in new taxpayer-funded business incentives
Gov. Rick Scott is nothing if not persistent. After a humbling defeat earlier this year, Scott is once again asking state legislators for more taxpayer-funded business incentives. On Thursday, Scott said he wanted $85 million in new funding. Watchdog.org
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The Impact Reduced Middle Class Wages Have Had on the US Economy
In the Washington Post this morning, former Treasury Secretary Lawrence Summers flags a working paper published earlier this summer by the International Monetary Fund that detects a massive downturn in consumer spending in the US in recent decades and ties it directly to the declining incomes of the middle class. 247wallst.com
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Companies Paying Americans the Least
Wal-Mart, the world’s largest company and private employer, recently raised the minimum wage of its employees to $10 an hour. Since the company’s announcement last year, several of the corporate giant’s competitors, including Target and TJX, announced similar base minimum wages for their employees. A $10 per hour wage is $2.75 an hour higher than the federal minimum wage. 247wallst.com
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Funding wave boosts Birmingham tech startup scene
Entrepreneurs and innovators are getting noticed for their work in Birmingham, attracting millions of dollars in new investment for their technology-based startups. Yellowhammernews.com
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Is a Robot After Your Job?
With the economy the way it is, most manufacturing workers are afraid that their company will move out of the country, or that someone who will work for less will get their job. Now, there is another fear—is a robot after your job? Manufacturingtomorrow.com
Submitted 2 hours ago

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Chattanooga among best cities in U.S. for women business owners
Women starting businesses in Chattanooga are among the most optimistic in the country, according to a new nationwide survey of female entrepreneurs. Chattanooga Times Free-Press
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20-Plus U.S. Cities Make “Smart Tech” Promise
The White House announced Monday that it’s pouring an additional $80 million into its one-year-old Smart Cities Initiative, bringing the total investment to $240 million. The initiative was created to help cities tackle some of their most challenging problems, regarding everything from public safety to resilience and transportation, through federal research and partnerships among governments, universities and the private sector. Nextcity.org
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Exclusive: Space Florida prepped to welcome SpaceX, Elon Musk's 'space pioneers'
Here's the role Florida could play in the long-term Mars missions. Orlando Business Journal
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UniFirst Corp Expands Owensboro, Kentucky, Distribution Hub
UniFirst Corp., one of North America’s largest workwear and textile service companies, plans a $12 million expansion of its distribution center in Owensboro, Kentucky. Area Development
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Incitec Pivot-Cornerstone Chemical Open $1-Billlion Production Plant In Jefferson Parish, Louisiana
Incitec Pivot Limited and Cornerstone Chemical dedicated a $1.025 billion production plant, which includes the combined construction of Dyno Nobel’s $850 million ammonia plant with Cornerstone Chemical’s $175 million investment in upgrades and infrastructure, at the 800-acre Fortier Manufacturing Complex on the west bank of the Mississippi River in Jefferson Parish, Louisiana. Area Investment
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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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