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Kaiima Bio-Agritech Expands St. Louis, Missouri, Facility
A plant genetics and technology company, Kaiima Bio-Agritech Ltd. opened its new, expanded facilities in St. Louis, Missouri. The facility is located in the Helix Center Biotech Incubator in St. Louis County, which is owned and operated by the St. Louis Economic Development Partnership. Area Development
Submitted yesterday

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Biomedical Systems Opens Technology and Research Center In St. Louis, Missouri
Biomedical Systems, a clinical trial provider to Pharmaceutical, Medical Device, Biotech, and Contract Research Organizations, opened its new Technology and Research Center near the company's global headquarter in St. Louis, Missouri. Area Development
Submitted yesterday

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Aerojet Rocketdyne to establish Defense Business Unit headquarters in Alabama
Aerojet Rocketdyne will establish its new Defense Business Unit headquarters in the Rocket City. The company announced the change this morning in a news release, saying it will also move its Defense Advanced Programs, known as the Rocket Shop, to Huntsville in an effort to be closer to the Missile Defense Agency, U.S. Army, NASA, Boeing, Lockheed Martin and Raytheon. AL.com
Submitted yesterday

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U.S. Economy Looks Likely to Weather ‘Brexit’ Storm
WASHINGTON—The U.K.’s decision to exit the European Union may rock the overall U.S. economy in coming months. But it isn’t likely to sink it. Once the initial market turmoil abates, the “Brexit” decision will become the latest in a long list of headwinds contributing to the American economy’s sluggish growth. The U.S. has powered through a number of overseas risks in the seven years since the recession ended and economists expect it will weather this one, too, allowing domestic concerns to again take center stage. The British decision is expected to hit the U.S. economy in at least three key ways: The Wall Street Journal
Submitted yesterday

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Charleston, S.C. job market’s outlook 3rd-best in U.S. this summer, survey finds
Charleston’s job market is one of the hottest in the nation, as nearly a third of the region’s companies say they plan to hire more people in the coming months. Some 32 percent of Charleston-area employers plan to add staff in the third quarter, according to a recent survey by the human-resources consulting firm ManpowerGroup. Meantime, just 1 percent expect cutbacks. That’s the third-best outlook for job growth among the nation’s 100 largest metro areas, the survey found. Only Albany, N.Y., and Richmond, Va., had brighter expectations. Charleston Post and Courier
Submitted yesterday

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New Boeing South Carolina leader, but union battle more of the same
Meet the new boss. Same as the old boss. At least that’s the case when it comes to the International Association of Machinists. Joan Robinson-Berry, introduced this month as the new vice president and general manager of Boeing South Carolina, mirrors her predecessor, Beverly Wyse, on the union issue, saying the aerospace giant’s North Charleston 787 Dreamliner plant doesn’t need one. Charleston Post and Courier
Submitted yesterday

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Aerojet Rocketdyne to establish Defense Business Unit headquarters in Alabama
Aerojet Rocketdyne will establish its new Defense Business Unit headquarters in the Rocket City. The company announced the change this morning in a news release, saying it will also move its Defense Advanced Programs, known as the Rocket Shop, to Huntsville in an effort to be closer to the Missile Defense Agency, U.S. Army, NASA, Boeing, Lockheed Martin and Raytheon. It is not yet known where the headquarters will operate. AL.com
Submitted yesterday

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La. Gov. John Bel Edwards signs executive order for scrutiny of industrial tax break
Gov. John Bel Edwards signed an executive order Friday (June 24) demanding more scrutiny over how a massive industrial property tax break is handed out to manufacturers. Local governments who stand to lose out on property taxes will now have a say in approving exemptions for heavy industry, and companies applying for the 10-year tax break must prove the projects are creating and keeping jobs, the governor's office said. Currently approved exemptions carry a price tag of $16.7 billion in lost property tax revenues to local governments, schools and law enforcement, according to the nonprofit Together Louisiana. NOLA.com
Submitted yesterday

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Baton Rouge gains 5,600 jobs in past year
Baton Rouge added 5,600 nonfarm jobs over the 12 months ending May 31, leading the state’s metro areas in job growth, while Lafayette lost 8,100 jobs and New Orleans 1,600. Metro-area jobs losses were driven largely by the oil and gas industry’s skid. In addition to the losses suffered in Lafayette and New Orleans, Houma-Thibodaux and Shreveport-Bossier City saw employment slip, according to preliminary estimates released by the Louisiana Workforce Commission. The metros that gained jobs included Lake Charles, Monroe and Alexandria. Hammond was unchanged. The figures were not adjusted for seasonal changes. Baton Rouge Advocate
Submitted yesterday

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Memphis sees strongest job growth since 1996
The jobs machine in metropolitan Memphis finally hit stride in May when nearly 19,000 more residents reported they were working, the strongest gain in any May in 20 years. May's unemployment rate in Greater Memphis stood at 4.5 percent, well below the 6.6 percent measured a year earlier, state government data showed Thursday. Official household surveys revealed residents saying they held 592,550 full- or part-time jobs in May, compared to 573,883 a year earlier, a gain of 18,667 employed workers. Memphis Commercial Appeal
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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