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Texas breaks monthly job record again; Austin market tightens
Texas set a record for annual annual job growth while seeing its unemployment rate drop in October. Numbers released by the Texas Workforce Commission show the state added 35,200 seasonally-adjusted jobs for the month, bringing its total to 421,900 total non-farm jobs for the year. Those figures set the record for jobs added for the third consecutive month. Texas' seasonally-adjusted unemployment rate also fell to 5.1 percent in October, down from 5.2 percent in October and down more than a point from 6.2 percent in October 2013. Austin Business Journal
Submitted 2 days ago

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Mississippi may get $1.2 billion aluminum mill
Mississippi appears to be the favored location for a proposed $1.2 billion aluminum mill that would hire 650 or more workers to supply aluminum for auto bodies. American Specialty Alloys announced plans to build the plant Monday. The company won't say what locations it's considering, but has filed for environmental permits at a site near Golden Triangle Regional Airport, just west of Columbus in Lowndes County. The company incorporated in Mississippi in March and has listed a Columbus address. The company received a construction permit from the Mississippi Department of Environmental Quality in October and is seeking further permits, including one that would allow it emit air pollution. Clarion-Ledger
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Report: Mississippi could see 12,000 new jobs, $244M in annual revenue from eastern Gulf drilling
Mississippi could gain more than 12,000 jobs and nearly $244 million per year in revenue by 2035 if areas of the eastern Gulf of Mexico now off limits to oil and gas exploration are opened, a new report says. According to the report released by the American Petroleum Institute and the National Ocean Industries Association, investment in the state could hit $679 million per year by then. The report, conducted by Quest Offshore Resources on behalf of the industry groups, said that spending could total $6 billion over the 18-year study period. Federal law bans all drilling in the majority of the eastern gulf off the coasts of Mississippi, Alabama and western Florida through 2022. Mississippi Press
Submitted 2 days ago

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Louisiana would get big economic boost from eastern Gulf of Mexico drilling, report says
Louisiana stands to gain more than 31,000 jobs and nearly $344 million per year in new state revenue over the next two decades if areas of the eastern Gulf of Mexico now off limits to oil and gas exploration are opened, according to a report released this week by the American Petroleum Institute and the National Ocean Industries Association. Federal law bans all drilling in the majority of the eastern gulf off the coasts of Mississippi, Alabama and western Florida through 2022. Conservationists say opening the area to oil and gas work would harm the environment and are pushing for the ban to become permanent. They note that oil companies have yet to explore all of the offshore areas now available for leasing. NOLA.com
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Gulf Coast embraces U.S. coal shippers rejected by West Coast
SAN FRANCISCO--When it comes to exporting American coal, the West Coast’s loss is the Gulf Coast’s gain. While environmental opposition has stymied plans to build terminals in California and the Pacific Northwest, the Mississippi River town of Darrow, La., has a new $300 million export facility. It’s part of a regional expansion that will increase capacity by 66 percent to 119 million metric tons by 2017, or more than half the national total, according to New York-based Doyle Trading Consultants. At least $898 million, or 64 percent of the total $1.4 billion companies such as Ambre Energy Ltd. were planning to invest on the West Coast, is being spent on terminals in the Gulf of Mexico. Even as U.S. coal exports have fallen by 23 percent since 2012, producers are betting that foreign sales will rebound because a supply glut means their prices are now below competing cargoes from Australia and South Africa. St. Louis Post-Dispatch
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Cheap gas is starting to have an impact on the Texas oil boom
Falling oil prices is forcing some drilling companies to cut back on exploration work in Texas. Baker Hughes Inc. recently reported shutting down four of its rigs targeting crude oil in the Permian Basin region of Texas and New Mexico. Oil rig counts have also dropped in North Dakota's Williston Basin, home to the Bakken shale formation. Oil prices have fallen 29 percent from the year's peak causing a slowdown in drilling activity that had reached its highest level in three decades. Retail gasoline prices have fallen below $3 a gallon for the first time since 2010 and crude futures are now trading under $80 a barrel. San Antonio Business Journal
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N.C. recoups jobs from recession; still long way to go for full recovery
North Carolina added slightly more than 17,000 jobs in October pushing it over a symbolic threshold: The state officially has recovered the number of nonfarm jobs lost since the Great Recession. The state's unemployment rate dropped to 6.3 percent with only April's 6.2 percent rate coming in lower since the economic downturn. Employment data since April had been mixed at best, and Gov. Pat McCrory's office had been mostly quiet with each month's jobs report. Triad Business Journal
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Florida unemployment rate falls to 6 percent, but problems persist
There's little debate that Florida's economy is improving. Look no further than Friday's jobs report, which shows unemployment statewide falling to a six-year low of 6 percent, a sturdy 34,400 jobs added over the month, and more discouraged jobless finally re-entering the labor pool. However — 51/2 years after the technical end of the Great Recession — there's also little debate that the state has a long way to go to receive a clean bill of health for its workforce of nearly 8 million. Despite its rising population, Florida remains roughly 200,000 jobs shy of its pre-recession peak. Wages are stagnant, a problem exacerbated by too many people working reduced hours or underemployed in low-paying jobs that don't match their skills or education. An unprecedented glut of long-term unemployed hasn't disappeared. Tampa Bay Times
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Tampa International Airport breaks ground on massive, $943 million expansion project
TAMPA — The groundbreaking ceremony Thursday for Tampa International Airport's $943 million construction project marked the start of a massive transformation. It will change the way people will catch flights there, how they'll dine and entertain themselves, even how the airport will make money. It reminded Hillsborough County Aviation Authority chairman Robert Watkins of another momentous day: April 15, 1971, when the main terminal opened. "This is a watershed moment," Watkins said of the airport's governing board, "akin to the opening of the airport originally." When the iconic terminal opened four decades ago, it signaled a new era for the bay area, he said. Now that airport will be expanded, modernized and upgraded to prepare it for a big future. Tampa Bay Times
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What’s the port worth to Va.? Researchers are on it.
“Annually, port-related business provides over 343,000 jobs, $41 billion in revenues, $13.5 billion in payroll compensation, and $1.2 billion in local tax revenues.” Virtually the same sentence – with an exception in 2008, when the $41 billion figure was left out – has been recycled in the past seven annual reports released by the Virginia Port Authority. New numbers are on the way. The often-repeated figures – try Googling “Virginia Port Authority” and “343,000” – came from an economic impact study released in January 2008, based on fiscal year 2006 data, by the College of William & Mary’s Mason School of Business. It’s provided boilerplate stats ever since about the port’s impact on the state. Virginian-Pilot
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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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