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Nashville needs citywide economic development strategy
My vision for the city of Nashville is very straightforward: We pursue an education system that says every child matters; we embrace an economic development strategy that says every family matters; and we develop a transit and infrastructure plan that says every neighborhood and community matters. The Tennessean
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UW study: Manufacturing jobs earn $8,100 less in right-to-work states
A UW-Extension paper estimates that workers in the manufacturing sector earn an average of $8,100 less in states that have right-to-work laws, and that right-to-work states have more poverty and fewer college graduates. "Bottom line, right-to-work states tend to have lower manufacturing wages and overall income levels, higher poverty rates and lower education levels," reads the UW-Extension right-to-work fact sheet (the PDF is attached) by Steven Deller, a professor of agricultural and applied economics. Madison.com
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$87 Million Super Project Clears First Steps, Primary Move Has Tougher Road
An $87 million state incentive package intended to help Lockheed Martin land a $30 billion federal defense contract easily passed a pair of initial committee hurdles on Tuesday. But on the first day of the legislative special session a path to move Arkansas’s primary date stalled in a Senate committee. The bond issue to assist the Maryland-based defense contractor upgrade its existing facilities east of Camden in Calhoun County seemed poised for an easy course in the Legislature from the outset. Ualrpublicradio.com
Submitted 10 minutes ago

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Economic Development In The Delta To Be Addressed
The two-day Delta conference on economic equality for working families begins Tuesday in Little Rock. The Mississippi Delta Grassroots Caucus, an advocacy group promoting economic development in the impoverished region will host the conference. Topics being discussed will include women and children in poverty and race relations, but the overall focus is economic equality. Ualrpublicradio.com
Submitted 11 minutes ago

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Column: Financial incentives help Florida attract jobs
This week the Enterprise Florida board of directors will meet in Tampa to discuss a host of economic development issues, including how to diversify our state's economy. The Tampa Bay area, like much of the state, has made good progress rebounding from a long and deep recession that hit the region hard. Tampa Bay Times
Submitted 13 minutes ago

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Alcohol laws in the South Brewing trouble
CRAFT beer lovers wishing to sample the wares of the Sweetwater Brewery in Atlanta must go to strange lengths to do so when visiting. After purchasing a memento glass for $10, the thirsty are awarded ten tickets to swap for samples of Sweetwater ales. More alcoholic choices require more tickets, and visitors can sip their blueberry wheat beer in the sun while listening to live music. Tours of the facilities reveal the impressive size of the fermentation tanks. Apparently if someone drank a gallon of beer a day from the largest of them, they’d still be guzzling 85 years from now. Economist.com
Submitted 14 minutes ago

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NC unemployment rate rises to 5.5 percent
North Carolina’s unemployment rate rose to 5.5 percent in April from 5.4 percent in March, the N.C. Commerce Department reported Wednesday, as improved economic conditions statewide continue to encourage people to rejoin the labor force to look for and find jobs. The statewide jobless rate has fallen by 1.1 percentage point since April 2014. It’s now slightly higher than the national jobless rate, which was 5.4 percent in April, the Labor Department reported earlier this month. Charlotte Observer
Submitted 16 minutes ago

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Bobby Jindal reaches peak stupid: One-time GOP savior embraces hate speech to appease bigots, wingnuts
Bobby Jindal was the great hope of the Republican Party. He was a fresh voice, the man most able to save the GOP from the dolts destroying it. But then something happened: Jindal decided that intellectual integrity was a political liability. He abandoned any pretense of serious governance, and began appealing to the basest elements of his party. He has since become a caricature of himself, a pandering hack with no moral compass and even less political intuition. So what happened? How did the man who decried his party for being too stupid become the dumbest of them all? Salon
Submitted 21 minutes ago

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Texas Passes Bill Allowing Concealed Handguns on College Campus
Texas lawmakers passed a bill allowing faculty and students to carry concealed handguns inside classrooms on public and private college campuses. The legislation, approved over opposition from university officials, prevents schools from establishing their own rules banning guns, though under a last-minute amendment they can create “reasonable” regulations pertaining to the presence of firearms on school grounds. Bloomberg
Submitted 28 minutes ago

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Jobless? Blame corporate America’s borrowing binge
While it’s true that consumers who borrowed too much contributed to the financial crisis, companies that took on too much debt also played a role. What led to the Great Recession? Was it all the fault of consumers? Did they borrow recklessly because money was cheap and mortgages were too easy to get? And then, when house prices collapsed, were they so overly burdened with household debt that they couldn’t afford to maintain their level of consumption? Fortune.com
Submitted 31 minutes ago

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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 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     
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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