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New report shows worst of oil and gas slump could be over
HOUSTON- A new report says the worst of the oil bust may be over for Houston. The Federal Reserve Bank of Dallas published the report, it oversees Texas. "I think it's true that the worst is over, that doesn't mean we don't have a long way to go," said Cole Vanya, owner of Landwise Consulting. In 2014 when oil was booming, Cole Vanya started Landwise Consulting. He specializes in drilling fluids management on oil and gas rigs and horizontal directional drilling. However, since then he's seen lot of ups and downs.
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Richmond Apprenticeship Offers Different Path to Tech Jobs
Nearly four years ago Doug Hocker gave up his dream of making it in the tech world. He’d spent a few thousand dollars on a for-profit college that provided little to no career guidance outside of a one-week stint delivering computers to classrooms (they didn’t even get to set them up). He resolved to earn money any way that he could, whether as a stock worker in the evenings at Walmart or cleaning up buildings as a janitor. But last February he lost his job, and after he spent eight months looking for work, a friend of his encouraged him to get back into the technology industry. Nxtcity.org
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Obama Administration announces $80 million in smart cities funding
The Obama Administration announced on Sept. 26 that it will invest $80 million in new funding for its Smart Cities Initiative, while doubling the list of participating communities. Americancityandcounty.com
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Walton company breaks ground on $100M KY project
Since 1999, Safran Landing Systems, a brake manufacturer, has been located in Walton, off of U.S. 25. On Sept. 28, the company broke ground on it fifth and largest expansion. Safran Landing Systems makes carbon brakes for aircraft and supplies them for customers like the military, UPS, FedEx, Delta Air Lines, Spirit Airlines and Air Canada. Carbon brakes offer greater energy absorption than steel brakes. The $100 million expansion will not only increase production, but will also add 80 new employees. Safran currently employs 290 people in Walton and 7,000 across the U.S. Cincinnati.com
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Firms thrive in aerospace industry
There's a certain attraction that draws companies to the aerospace industry. It's a field that is difficult to break into and requires a good deal of engineering expertise to remain ahead of the pack. But once a firm gets through the front door, the perception is the sky's the limit. Of course, that's not necessarily the case. Companies that produce elastomeric products learn quickly there's a lot of tough, highly qualified competition to contend with in the field and, like in many sectors, the ground rules can change—sometimes slowly, more often quickly. For instance, Lord Corp.'s Scott Miller, global marketing manager for the Cary, N.C.-based company, said “the industry has gone through some fairly big changes in the last 10 years.” Although the commercial aircraft business has continued to experience strong growth, he noted, other segments have been up and down. Rubber news.com
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Did SpaceX Just Pass NASA on the Road to Mars?
If even a fraction of what Elon Musk proposed yesterday comes to pass, his speech at the International Aeronautical Congress in Guadalajara, Mexico, will be remembered as a historic moment, akin to President Kennedy’s “We choose to go to the moon” speech in 1962. Space fans have hardly been able to contain themselves in recent weeks, awaiting The Speech wherein the SpaceX founder and guiding force behind Tesla Motors, SolarCity, Hyperloop, and other futuristic ventures promised to lay out his plans for human settlement of Mars. Airspacemag.com
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Space Florida CEO expects up to 200 launches per year
Space Florida official says the region could see as many as 200 launches a year as space firms like SpaceX, United Launch Alliance and OneWeb boost production and ramp up their launch manifests. President and CEO Frank DiBello said that means the region's space economy must be nimble enough to meet that demand. Orlando Sentinel
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EDITORIAL: Economic upturn for Texas predicted
While our state still is financially “vulnerable” — especially to slipping oil and gas prices — a new report on the Texas economy is surprisingly upbeat and even suggests much better days are predicted in the near future. In fact, Federal Reserve Bank of Dallas economist Pia Orrenius went so far as to say “it suggests that the worst of the energy crisis may be over.” Themonitor.com
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Millennials actually have it better in the job market than Generation X—with one big exception
An enduring image of the Great Recession is the debt-addled millennial with a fancy degree settling for a job as a barista at a coffee shop. Although this is a troubling sign for the US economy, new research suggests that it isn’t such a new thing, nor is it necessarily bad for college graduates themselves. The trouble Millennials have getting good jobs out of college isn’t unique. Remember McJobs in the 1990s? The iconic movie of that era, Reality Bites, featured a clever Generation X college graduate folding sweaters at the Gap. For young grads in the US back then, underemployment—working in a job that doesn’t require the degree you have—was in fact even worse than it is now (the red line in the chart below). QZ.com
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Guest column: How film tax incentives can boost El Paso’s economy
Last weekend, I had the fortunate opportunity to spend some time with former New Mexico Gov. Bill Richardson at the Texas Tribune Festival. His love of El Paso is genuine and he asked about some of the items I was passionate in helping to shape El Paso policy and our economic future. The topic of film incentives came up and Gov. Richardson’s face lit up. “You know, I took a lot of what we created in New Mexico from y’all in Texas,” he told me. Well, with New Mexico recently receiving over $390 million in direct economic impact for film and TV production – this year alone – in large part due to New Mexico’s embrace of incentives for film production, the governor was prophetic in his embrace of film incentives. Whatsuppub.com
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Features & Opinion

 Randle Report - Business News in the South

For those who still languish over "losing to China" or believe that the economy is still in recession, wake up and smell the data. Economic development in the South was about as good as it gets in calendar year 2015 according to the data. And as for China, borrowing a quote from the late football coach Bear Bryant that he made in the half-time locker room down 15-0 to Georgia Tech in 1960, "We got 'em right where we want 'em." For those of you who don't know the rich history of Alabama Crimson Tide football, Bama scored all of its 16 points in the fourth quarter, kicking a field goal on the last play of the game to beat Tech 16-15.
 

 Randle Report - Business News in the South

 FEATURE  
By Mike Randle
Today, factories in the U.S. make twice as much product as they did in 1984. And they are doing it with one-third of the manufacturing workforce. In fact, the output of durable goods in 2015 was the highest in the nation's history. So, we do have a strong manufacturing base, at least in the South, much of the Midwest and parts of the West, and it is getting stronger because on a cost-basis, we can compete with any major manufacturing nation in the world.  
 

 Randle Report - Business News in the South

FEATURE     
The argument for or against a minimum wage hike continues between the reds and the blues, as well as within the economic development community in the South. Should we stay the course with a minimum wage under $8 an hour to better compete with Mexico, the South's biggest competitor for jobs, or set a minimum wage just over $10 an hour, a wage floor most centrists support? That $10 per hour is, according to the MIT Living Wage Calculator, about right in most states in the South for one adult to be able to cover basic expenses plus all relevant taxes.
 
 Randle Report - Business News in the South
Recent data from the Computing Technology Industry Association (Comp TIA) showed that the technology industry is one of the fastest growing job generators in the South and the nation. The report also indicated that technology job compensation is growing faster than any other sector.
 


 

 

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