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U.S. crude output rises to highest since 1980s on shale boom
U.S. crude production climbed to the highest level in at least three decades last week as the shale boom moved the country closer to energy independence. Output rose 0.4 percent to 8.97 million barrels a day, according to weekly Energy Information Administration estimates that began in January 1983. The EIA’s monthly data, which goes back to 1920 and is based on data collected by state and federal agencies, shows production at the highest since 1986. “U.S. crude production continues to grow strongly,” Katherine Spector, a commodities strategist at CIBC World Markets Inc. in New York, said by phone. FuelFix.com
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Bill Gates buys more Southeast farmland
Bill Gates has followed his reported purchase of Vidalia, Ga., farmland with more agricultural acquisitions in Florida. The Produce News reported an investment group affiliated with Gates paid $28 million for more than 4,500 acres of farmland in northern Florida. The publication also noted "unsubstantiated reports from individuals familiar to The Produce News that entities representing Gates are looking at farmland in Mississippi and possibly other Southeastern states as well." Atlanta Business Chronicle
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Royal DSM expands in Augusta, Georgia
Royal DSM will build a new polymerization plant in Augusta, Ga. The plant will make high viscous Akulon polyamide 6 polymer for film grades used in flexible food packaging and other segments. It will be built next to DSM Engineering Plastics' existing facility that makes medium viscous grades of Akulon and Novamid polyamide 6 polymers for a variety of components used in the electrical/electronics, automotive, and consumer goods industries. Atlanta Business Chronicle
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Churchill Downs to construct new Winner's Circle suites, courtyard at racetrack
Churchill Downs Inc. has announced a $4.2 million capital construction project at its Louisville racetrack to improve the Winner's Circle area for owners of horses in the Kentucky Derby. The racetrack plans to build 20 private, open-air suites next to Churchill's trackside Winner's Circle that will be all-inclusive, located between the sixteenth pole and the finish line, according to a news release. In addition, the racetrack plans to revamp the trackside Winner's Circle and develop a new courtyard area that will provide premium seating during Derby week and a relaxing atmosphere for racing fans, according to the release. Louisville Business First
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Accelerating Advanced Manufacturing in America
On Monday, we had the privilege of participating alongside the President in a meeting with his American Manufacturing Partnership (AMP) Steering Committee. AMP -- led by its co-chairs, Dow’s Andrew Liveris and MIT’s Rafael Reif -- presented its final report with a set of new recommendations, and we discussed additional policy steps we’re taking to respond to them. The President created AMP -- a working group of 19 leaders in industry, academia, and labor -- in June 2011 as part of his continuing effort to maintain the competitive edge on emerging technologies and invest in the future of our manufacturing sector. WhiteHouse.gov
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Triad looking to boost manufacturing jobs
In the past 20 years, Greensboro watched as its traditional textile and furniture industries crumbled when overseas corporations used innovations and cheap labor to do the job at a lower price. This region has struggled ever since to find ways to retrain and employ tens of thousands of unemployed workers. The nation is now in danger of losing a broader range of manufacturing to other nations unless it focuses on science, new ideas, even enhancing the image of what it means to work for a manufacturer, according to a new report the White House released this week. News-Record.com
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Jobs are opening in manufacturing, and, in Oklahoma, this is where the training is
Baby Boomers, the largest generation in America, who according to cnn.com, made up 24 percent of the population in 2012, are retiring in such large numbers there’s a significant and growing skilled worker shortage, specifically in the manufacturing industry. Like many other states, Oklahoma needs skilled workers to step up and replace these Baby Boomers. Technology centers, such as Indian Capital Technology Center, and Central Technology Center, are making it possible for Oklahomans to receive the education they need to create a wealth-building career in manufacturing. NewsOK.com
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Nordstrom to close Mall of Ga. store in February
Luxury retailer Nordstrom said it is pulling out of the Mall of Georgia next year as sales have not met expectations at the location. “We have a great team at the Mall of Georgia store and we’ve enjoyed serving our customers here, but despite our team’s best efforts, the bottom line is that we simply don’t do enough business here to continue operating the store into the future,” Jamie Nordstrom, the Seattle-based company’s president of stores said in a release. AJC.com
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Wrapping up Asia trade mission, McAuliffe appeals for money to lure businesses to Va.
RICHMOND — During a trade mission to Asia that concludes Wednesday, Gov. Terry McAuliffe (D) has touted many of the assets that he says make Virginia a no-brainer for business: its tax base, location, regulatory environment, international airport and port. But he is at risk of running out of another resource to lure employers to the state: cash. In less than a year, the McAuliffe administration has committed and offered more than $68 million in state incentive grants. And it’s unclear whether the General Assembly will go along with replenishing it. WashingtonPost.com
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Despite its failure, Project Yellow could still spur economic growth in Sarasota
SARASOTA, Fla. -- It could have been one of the largest economic development deals in Sarasota's history -- a Danish pharmaceutical manufacturer was looking to open a U.S. operation and was considering the Suncoast as a possible destination. Project Yellow was set to bring more than $200 million in revenue to the area, but the deal fizzled out. “It was the biggest private investment corporation that our community has ever had a chance to compete for,” says the Economic Development Corporation of Sarasota's CEO Mark Huey, talking about Project Yellow. For several months, the EDC courted Xellia Pharmaceuticals, the foreign manufacturer that was looking to expand in the United States. MySunCoast.com
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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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