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Alabama’s income gap hurting the state’s economy
Alabama's growing income gap has produced an uneven playing field between the richest and everyone else and is hurting the state's economy, according to a new report. Arise Citizens' Policy Project recently released a report, The State of Working Alabama 2014, said the level of income inequality in Alabama has resulted in reduced consumer spending and made it tough for entrepreneurs to start and grow their businesses. Birmingham Business Journal
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Magic City to host the Dalai Lama this weekend
The Magic City is sure to attract many from out of town this weekend with the visit of His Holiness The 14th Dalai Lama. The heralded religious figure and activist will be in Birmingham for the weekend, speaking at the 16th Street Baptist church on Saturday, along with two speaking events on Sunday. The first public event on Sunday will be held at the Alabama Theatre from 9 to 11 a.m. As we previously reported, his visit will include a public event at Regions Field on Sunday Oct. 26 that will also feature music from the Alabama Symphony Orchestra. Birmingham Business Journal
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Dominion Power won’t lower eastern N.C. rates after winning tax ruling
While several major utilities have lowered rates to account for an N.C. corporate income tax cut, Dominion North Carolina Power will continue to collect slightly higher charges for income taxes it no longer pays. Under an order issued by the N.C. Utilities Commission on Oct. 9, the commission cannot require a utility to reduce its rates for the cut in taxes until the commission reviews the utility's costs in a general rate-setting case. Charlotte Business Journal
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Heart of N.C. MegaPark wins international award
The Montgomery County Economic Development Corp. and Moore County Partners in Progress have received a silver excellence in economic development award from the International Economic Development Council for the Heart of N.C. MegaPark. The 3,000-acre megapark is a joint project of the two economic development organizations. The park, which is fully optioned, spans the border of both Montgomery and Moore counties between the interchanges of Interstate 73/74 near Biscoe. Triad Business Journal
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Big Win for Augusta Economic Development Authority's Website
Augusta, GA - The Augusta Economic Development Authority's website has been named one of the best economic development websites in the United States. The Development Authority received a “Gold Excellence in Economic Development Award” in the 2014 awards website category from the International Economic Development Council (IEDC). It is the highest award category in IEDC's Economic Development Awards Program. The honor was presented to Walt Sprouse, Executive Director of the Augusta Economic Development Authority, at an awards ceremony on Monday, October 20, during the IEDC Annual Conference in Fort Worth, Texas. WJBF.com
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Halliburton asks courts to block BP bid for new trial on oil spill ruling, website reports
Halliburton is asking a federal judge to reject BP's request for a new trial to determine what caused the 2010 Gulf of Mexico oil spill, Bloomberg reports. Halliburton, one of the contractors on the blown out Macondo well, argues a federal judge did not rely on excluded testimony when he ruled BP carried most of the blame for the spill in early September, the report says. The Times-Picayune reported Oct. 3 that BP is challenging the ruling, which it says was based on evidence that was supposed to be excluded from the trial. Nola.com
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PitchNOLA contest seeks ideas on solving local economic, social issues
Propeller incubator is looking for entrepreneurs with ideas on solving local economic and social issues for a live business pitch contest to be held in January at Tulane University. The PitchNOLA: Community Solutions contest will accept applications from individuals and teams based in the greater New Orleans area until Dec. 19. The competition will focus on ideas for "supporting children and families, the environment, workforce development and economic security for hard to employ populations," according to a news release. Nola.com
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Birmingham-based firm building student housing development at the University of Florida
BIRMINGHAM, Alabama -- Brasfield & Gorrie has broken ground on a student housing development near the campus of the University of Florida in Gainesville, Fla. The Birmingham-based contractor is building a five-story, 92,000-square-foot residence hall, which features four floors of student residences, meeting rooms and an entertainment room. The $15.9 million construction project is expected to be complete next year. AL.com
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New Montgomery job training center to provide workers new skills in manufacturing, IT
MONTGOMERY, Alabama -- The city of Montgomery is the home of a new job training center through a partnership with the Alabama's Workforce Development Agency, the Chamber of Commerce announced. Training will be high individualized and customized but focused on manufacturing and IT to meet the immediate needs of industry, according to the Montgomery Area Chamber of Commerce. Some of the courses will award certificates, but all will give graduates skills to immediately enter the workplace. AL.com
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Foreclosures still falling in Charlotte, CoreLogic says
Residential foreclosure activity in the Charlotte market continued its steady year-over-year decline in August, CoreLogic Inc. (NYSE:CLGX) reports. The foreclosure rate in the Charlotte-Concord-Gastonia metro was 1 percent that month. That's down from 1.8 percent a year earlier but unchanged from the July figure posted by the Irvine, Calif.-based data firm. It's better than the national foreclosure rate of 1.6 percent for the month but worse than North Carolina's statewide rate of 0.9 percent, the Irvine, Calif.-based data firm says. Charlotte Business Journal
Submitted yesterday

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Features & Opinion

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 Randle Report - Business News in the South

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 Business News in the South - Randle Report

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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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