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N.C. power deal to pass savings to customers
Duke Energy Progress has agreed to purchase the generating capacity of ElectriCities in a $1.2 billion deal expected to translate into lower power bills for thousands of eastern North Carolina residents. Duke announced its deal Monday with the North Carolina Eastern Municipal Power Agency, which includes 32 towns in the eastern part of the state. Businesses and residents in those communities have paid hundreds of dollars more a year for electricity to help service massive debt owed by ElectriCities, which decades ago bought shares in the Shearon Harris Nuclear Plant near Raleigh and three other facilities. Richmond Times-Dispatch
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Volkswagen site in Chattanooga could see 2,000 more supplier jobs, officials say
Some 300 acres that Volkswagen is freeing up at Enterprise South industrial park in Chattanooga for potential suppliers ultimately could add another 20 companies and 2,000 jobs, economic developers say. "We're seeing a lot of interest from auto suppliers," said Nick Wilkinson, the city's deputy administrator for economic development, in the wake of VW's planned $600 million investment to make a new vehicle and hire 2,000 more workers at its Chattanooga plant. Enterprise South emerged from the former Volunteer Army Ammunition Plant, which provided the U.S. Army with ammo going back to World War II. Nearly two decades ago, city and Hamilton County leaders crafted plans to acquire most of the remaining VAAP site with the intent of landing a major manufacturer such as VW to the property. Chattanooga Times Free Press
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How Much Cleaning Up Brownfields Is Really Worth
There are more than 450,000 brownfield sites in the U.S., properties once used for industrial purposes that are now contaminated by hazardous substances at low levels. In 1995, the U.S. Environmental Protection Agency launched the Brownfields Program to provide support for brownfield remediation, an effort that was expanded in 2002, when Congress passed the so-called Brownfields Law. From that law's enactment through fiscal year 2013, the EPA has awarded public and private-sector organizations nearly 1,000 grants for cleaning up these industrial eyesores, for a total of almost $190 million. Citylab.com
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America's Boring Economy
The last few years of the U.S. economy have been like one of any dozen CBS procedural dramas, where despite several mid-episode twists and the occasional cliff-hanger, the broader plot development is minimal and the resolutions are rather predictable. The Atlantic
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Texas lawmakers want to redirect $92 million earmarked for VIA’s streetcar plan
State Rep. Lyle Larson, R-San Antonio, and State Sen. Donna Campbell, R-New Braunfels, have called on the Texas Transportation Commission to withdraw the $92 million in Texas Mobility Funds it has agreed to allocate to VIA Metropolitan Transit’s proposed $280 million urban streetcar plan. San Antonio Business Journal
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New Jax Bridges initiative wants to generates $100 million in small business deals
Jacksonville may have a healthy startup community, but it’s not enough to spur entrepreneurial growth at all levels. That's something the Jax Chamber's new public-private partnership aims to fix. Jacksonville Business Journal
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Mark Farris leaving York County for Greenville, S.C., eco-devo unit
One of the Charlotte region’s longest standing economic development leaders is departing for Greenville, S.C. Mark Farris, who has led York County’s industry-seeking agency since 1987, takes over as president and CEO of the Greenville Area Development Corp. Charlotte Business Journal
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Why Japanese companies are so interested in Alabama
Kazuo Sunaga may be relatively new to the office of Consul General in Atlanta, but that has not stopped him from jumping into data and polishing relationships with business leaders both locally and in Japan. Birmingham Business Journal
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Austin loses top spot for best U.S. tourism destination to Houston, Dallas
Texas cities are making their presence felt in the economy when it comes to attracting top talent and landing the Lone Star state in the No. 1 spot for location desirability for job-seekers. Austin Business Journal
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Why do only angry Republicans have any power in their own party? The answer lies in its pivot to the South
A few months back, a day after the Republican Leadership Conference kicked off in New Orleans, Jamelle Bouie wondered in Slate “Why the Republican Party attracts provocateurs, faux martyrs, and grifters in droves?” It’s a great question. Bouie noted the speakers whose presence would raise doubts about any political body that invited them to appear — from the vermiculate gasbag Donald Trump to the hucksters Herman Cain and Sarah Palin. And he provided examples of how the inflamed rhetoric of these figures has become the vernacular of the Republican Party as a whole. But in the end, his answer to his own question seemed disappointingly wan: Salon
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Features & Opinion

 Top Ten Places in the South for Relocating California Companies

In growth, companies find themselves in the dilemma of identifying capital to increase capacity and managing opportunity cost where capital may be deferred. This dilemma is amplified as capacity constraints drive a company to complete the site selection process for an expanding or new facility. 
 

 Randle Report - Business News in the South

 FEATURE  
By Dr. Glen Fenter
Desperation sometimes masks itself in acceptance. Such was the case for Takelia Carter of Marion, Ark. For Carter, the mother of six school-age children in a low paying job, desperation was normative existence. This was her life in Crittenden County, Ark., deep in the Delta where unfortunately one in four families lives well below the poverty level.
 

 Business News in the South - Randle Report

FEATURE     
By Mike Randle
There are numerous factors driving the new industrial revolution in the South. And it is a revolution, as this manufacturing surge that began in 2007 continues to break records year after year in the total number of large, capital intensive projects. One factor, of course, is that reshoring of facilities back to the U.S. continues to grow each year.
 
 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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