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Civil War Sesquicentennial brings over $290M to Virginia
RICHMOND – An economic impact study of Virginia’s Civil War sesquicentennial shows the commemoration brought more than $290 million and 3.7 million people to Virginia. Conducted by Chmura Economics & Analytics at the request of the Virginia Sesquicentennial of the American Civil War Commission, the study shows that programs marking the 150th anniversary of the Civil War generated more than $8.4 million in state tax revenue and nearly $5 million in local tax revenue. Southwesttimes.com
Submitted yesterday

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Dominion Va. Power using rate riders to pay for new plants
Little-known fees that state regulators approved for Dominion Virginia Power to pay for power plant construction and conversion projects now account for nearly 9 percent of a typical customer’s monthly bill. Richmond Times Dispatch
Submitted yesterday

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The Great Job-Creating Machine
As the Guardian recently reported, technology has created more jobs than it has destroyed, and the new jobs it has created have been of higher quality. Technology eliminated many difficult, tedious, and dangerous jobs, but this has been more than offset by a rise in the caring professions and in creative and knowledge-intensive jobs, resulting in a net increase in jobs. The sectors to lose the most jobs have been agriculture and manufacturing, which are both difficult and dangerous, while work opportunities in medicine, education, welfare, and professional services have become more abundant. (For example, there are more teachers per student, improving student-teacher ratios, and there are also more physicians per person than in the past). Cato.org
Submitted yesterday

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New Chick-fil-A bringing 100 jobs to Dunwoody
DUNWOODY, Ga. -- Metro Atlanta's newest Chick-fil-A opens this week in Dunwoody, bringing 100 jobs to the area. The restaurant is located just outside Perimeter Mall at the intersection of Hammond Drive and Ashford Dunwoody Road, replacing the former Macy's Goodyear Auto Service Center. It includes dual drive-thru lanes, a 121-seat dining room and a patio. 11alive.com
Submitted yesterday

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Evanoff: Wages aren't rising in Memphis
For weeks at a stretch, Andrew Bailey works as a Southern Towing deck hand, cooking, cleaning and handling tasks aboard a powerful towboat shoving strings of barges on the Gulf of Mexico and the Mississippi River. Commercial Appeal
Submitted yesterday

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DENSO investing $400 million, adding 500 jobs in Tennessee
DENSO Manufacturing Tennessee Inc. will invest $400 million and create 500 new jobs at the Maryville facility, the company and Blount Partnership announced Tuesday. The Daily Times
Submitted yesterday

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Women in Weed: How Legal Marijuana Could Be the First Billion-Dollar Industry Not Dominated by Men
It seems fitting that a plant called Mary Jane could smash the patriarchy. After all, only female marijuana flowers produce cannabinoids like the potent THC chemical that gets users buzzed. Pot farmers strive to keep all their crops female through flowering female clones of one plant, called the Mother. And women are moving into the pot business so quickly that they could make it the first billion-dollar industry that isn’t dominated by men. Newsweek
Submitted yesterday

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Pipe manufacturer hiring hundreds at plant south of Austin
Epic Piping — a Baton Rouge, Louisiana-based pipe fabricator — has ramped up hiring at its facility in San Marcos and expects to have 300 employees in place when the site opens on Oct. 1. Austin Business Journal
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The oil crash has 'everyone on pins and needles' in Texas
Manufacturing activity in Texas collapsed in August. And the fear is all about oil. The latest manufacturing index from the Dallas Fed came in at -15.8, way below expectations. Business Insider
Submitted yesterday

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Star Search: South Carolina’s aerospace industry needs fresh talent to keep momentum going
Although Washington state’s aerospace industry has a nearly century-long headstart, South Carolina — and the South in general — is quickly making up ground when it comes to attracting highly skilled college graduates for careers at Boeing Co. and its suppliers. Post-Courier
Submitted yesterday

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Features & Opinion

 Top Ten Places in the South for Relocating California Companies

Urban areas have all kinds of assets that are easy to spot. They have the population, so the labor shed is not usually an issue. Urban areas are also connected by better roads, rail and air service and many have river and deep water ports. Usually Internet access and other forms of communication are more efficient in urban areas. And you have a larger array of quality of life options to choose from, such as the cultural assets found in metropolitan areas.
 

 Randle Report - Business News in the South

 FEATURE  
By Mike Randle
The belief that "80 percent of all new jobs come from existing business and industry" is an out-of-date, old-fashioned fabrication. I have no idea how it started, where it started, or who said it first, but there are professionals in economic development as well as leaders of government in the South who actually believe that each year, 80 percent (why 80 percent I don't know, either) of all new jobs are created by existing business and industry. I hear it all the time and I just roll my eyes. There is nothing static in economic development but this: 100 percent of all lost jobs come from existing business and industry. That, and of course 100 percent of the time site consultants never pay for a meal.
 

 Business News in the South - Randle Report

FEATURE     
After I finished the cover story for this issue, I read an interesting article by economist Paul Krugman, the op-ed columnist for the New York Times, titled, "Partying like it’s 1995." Generally I side with Krugman, even though I am a journalist, not an economist. Occasionally, though, I read some of his stuff and ask myself, "What planet did Krugman come from?" Like when he predicted a shift of automotive assembly to Canada after Toyota announced a new plant in Woodstock, Ontario in 2005 because of "free healthcare," among other benefits. That Toyota deal was the last major automotive assembly plant announced in Canada and I predict it will be the very last one for the Canadians.
 
 Nashville Mayour Karl Dean
If you have ever seen one of my presentations, then you know about the word "reshoring" and how that phenomenon has lifted the spirits of even the most skeptical Southerners regarding the future of the region's economy. After all, in the last four decades, manufacturing has suffered a bloodletting never before seen in U.S. history. The biggest factor behind the slow and long meltdown that began in the 1990s was the herd mentality to offshore manufacturing capacity to cheaper locales, primarily by U.S.-owned companies.
 


 

 

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