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New $5.5M Boat Factory Brings 238 Jobs to Newberry Co.
The Sea Pro Boats company announced today a new manufacturing facility to be built in Newberry County. The $5.5 million new 200+ thousand square foot facility will be built on Highway 121 in Whitmire, and once completed, will house the company headquarters for the Sea Pro brand. Wltx.com
Submitted yesterday

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Municipal Bankruptcy's New Rulemakers
Neither Congress nor the Obama administration had a response -- or even words of support -- when two large U.S. cities lurched into bankruptcy two years ago. And there still isn’t a response now as Puerto Rico, a U.S. territory, heads in that direction. Well, that’s not entirely true. As Congress completed its 2016 budget resolution in May, it included for the first time in U.S. history a provision of singular discrimination. It barred so-called “bailouts” to municipal corporations, cities and counties -- none of which have ever been “bailed out” -- while leaving unchanged support for federal bailouts of nongovernmental corporations, such as major Wall Street banks and automobile companies. Governing.com
Submitted yesterday

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‘Innovation Act’ threatens medical progress in North Carolina
In the final quarter of 2014, Chimerix, a biopharmaceutical company in Durham, lost over $20 million. Yet the company is hiring employees and ramping up spending in the local community. Wall Street can’t get enough of the pharma entity – its share price doubled last year. To what can we attribute its fortuitous turn? News Observer
Submitted yesterday

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STUDY: BEER A MULTI-BILLION DOLLAR ASSET TO NORTH CAROLINA ECONOMY
According to new data, the beer industry in North Carolina has a $3.8 billion impact on the state's economy, and contributes to more than 26,000 jobs. The news comes from a Beer Serves America study conducted by the Beer Institute and the National Beer Wholesalers Association. ABC11.com
Submitted yesterday

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Guest opinion: South Carolina shines light for others to follow on solar power
Our legislature, Gov. Nikki Haley, South Carolina Electric & Gas and Duke Energy have put South Carolina on the leading edge on solar power. While other states dither and fight, South Carolina is taking the lead. Across the United States, more solar was installed in 2014 than in any other year ever -- 30 percent more than was installed in 2013. Island Packet
Submitted yesterday

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FCC signs off on $48B AT&T, DirecTV merger
The Federal Communications Commission (FCC) approved AT&T’s merger with DirecTV on Friday. The regulator signed off on the $48 billion transaction and placed conditions on the deal after considering it for more than a year. In approving the deal, the FCC is allowing AT&T to acquire DirecTV and merge the two companies. The merger will create a combined company with the programming offerings of DirecTV and the sprawling wireless and broadband networks of AT&T. The Hill
Submitted yesterday

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California consultant bringing 200 jobs to Nashville
A San Francisco Bay area-based global human resources and financial consulting firm has leased more than 30,000 square feet of space at Bank of America Plaza for an office that would support its clients worldwide. The Tennessean
Submitted yesterday

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Sitel to add 200 jobs at its Alabama location
Sitel on Thursday announced the addition of 200 new full-time jobs at its Hamilton customer experience center. The new positions are part of the company's client business expansions in the insurance industry, according to a release from Sitel. The company will be hiring for both coaches and inbound customer care agents. Birmingham Business Journal
Submitted yesterday

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Illinois losing more manufacturing jobs—this time to Tennessee
Manufacturing company De-Sta-Co, which makes a range of automation and productivity equipment, plans to close its facility in Wheeling and transfer 100 jobs south. A unit of Downers Grove-based manufacturer Dover, De-Sta-Co said in a statement today that over the next 18 to 24 months it will shutter its plant in the northern suburb and two sites in Michigan, moving production and jobs to a new factory outside Nashville, Tenn. Chicago Business
Submitted yesterday

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Manufacturers lead clean-energy job growth in Tennessee
Gains in Tennessee's robust manufacturing sector accounted for nearly half of new clean-energy jobs here over the past year, and the state ranks high for overall growth in the industry, according to a new report from national nonpartisan business group Environmental Entrepreneurs, or E2. About 2,600 jobs were created last year by employers operating in the energy-efficiency, renewable-energy, clean-transportation, and greenhouse-gas management and accounting sectors — an increase of 6.3 percent, according to the Clean Jobs Tennessee report. That's nearly triple the state's overall employment growth. Businesses told the report's authors they expect to fill an additional 2,500 positions by 2016. Knoxnews.com
Submitted 2 days 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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