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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 3 days ago

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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 3 days ago

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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 3 days ago

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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 3 days ago

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Displaced Workers Faring Better, But Many Remain Unemployed
Fewer Americans were displaced from their jobs in recent years, and those who were fared better at regaining employment. Data from the U.S. Department of Labor published Thursday indicate that about 7.4 million workers were displaced between January 2013 and December 2015. That’s down from 9.5 million between 2011-2013, reflecting improving economic conditions. Those who lost jobs also had somewhat better luck at regaining them: 67 percent were reemployed in January, up from 61 percent in the prior survey. Governing.com
Submitted 3 days ago

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How seniors are tapping the gig economy
It’s no secret that many boomers approaching their retirement years are anxious about having enough income. But many are finding help -- by turning to the so-called gig economy. In the past few years, my wife and I have met several seniors who make money in this 21st century way, and all seem happy with the arrangement. One was an Uber driver who was a retired airline stewardess, spoke several languages and drove passengers to and from airports. During the drive, she shared valuable insights into travel and dealing with airlines. CBS News
Submitted 3 days ago

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Houston prepares for its plastics and chemicals export boom
The Port of Houston has evolved as the largest U.S. port that ships more products overseas than it imports as the region's burgeoning chemicals, plastics and fuels industries make the region an increasingly bigger player in the global economy. Houston Chronicle
Submitted 4 days ago

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Houston spends millions to woo post-Panamax ships
The widened Panama Canal is likely to have a significant impact on global shipping. Here in the U.S., gigantic ships that could only fit on West Coast docks can now get through the canal to the Gulf of Mexico. That means a sizable increase in traffic for the Port of Houston — which has already begun a billion-dollar plan to upgrade its infrastructure. It’s a hot, humid morning at the Port of Houston and a line of towering dockside cranes rises through the heat and haze behind a wall of colorful containers. Ryan Mariacher, the Port of Houston’s Director of Container Terminals, is giving a tour of the Bayport Terminal, the port’s newest facility. Marketplace.org
Submitted 4 days ago

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Long-Awaited U.S. Infrastructure Spending Comes to Fruition
America’s states and cities are finally seizing on record-low interest rates to finance needed work on roads, bridges and schools. After borrowing costs tumbled worldwide as central banks sought to jump-start their economies, agencies from New York to California have sold about $272 billion of bonds this year and are funneling more into construction projects, instead of just paying off higher-cost debt. That’s put the municipal market on track to approach the record level of sales reached in 2010, when the federal government was seeking to hasten the nation’s recovery by footing some of the bills on debt issued for public works. Bloomberg
Submitted 4 days ago

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Metro recommends $6 billion transit plan for Nashville region
The report is in and the verdict is big. Connect Nashville and Clarksville with commuter rail. Build light rail on four busy Nashville corridors. Install bus rapid transit on three other major roadways. There also are recommendations for “freeway BRT” and bus-on-shoulder service on Middle Tennessee interstates, a transit network serving the airport, new regional transit hubs and improvements to the city’s existing buses for more frequent, efficient and easier service. The Tennessean
Submitted 4 days ago

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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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