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British pharmaceutical maker to open first U.S. manufacturing facility in Birmingham; create 200 jobs as part of $29 million investment
BIRMINGHAM, Alabama - A British pharmaceutical company will open its first manufacturing center in the U.S. in 2016, Gov. Robert Bentley confirmed at the Birmingham Business Alliance 2014 Governor's Luncheon. Oxford Pharmaceuticals is expected to have 61 employees when it opens and 200 within 10 years. Jobs will range in pay from about $12 an hour to more than $100. The company's investment will total $29 million. Bentley, along with Mayor William Bell and Jefferson County Commission President Jimmie Stephens, made the announcement at The Club Tuesday. Oxford will manufacture generic drugs in Birmingham and sell them worldwide. Oxford was founded in Oxford, England, and will be based in Birmingham. AL.com
Submitted 1 years 247 days ago

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BRAC economic outlook predicts record-breaking 17,400 new jobs in Baton Rouge area for 2015
The Baton Rouge metropolitan area will continue to grow in 2015, fueled by record-breaking employment, mostly in the construction industry directly connected to expansions within the oil and gas, and manufacturing industries. That's according to the Baton Rouge Area Chamber, which released its 2015 economic outlook, Tuesday (Nov. 18), during a Baton Rouge Entrepreneurship Week breakfast. BRAC is forecasting a 2.3 percent growth rate for 2015, and 2.1 percent growth in 2016. This translates to approximately 9,000 new jobs in 2015 and sone 8,400 new jobs in 2015, a collective total of 17,400. NOLA.com
Submitted 1 years 247 days ago

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TVA profits hit 4-year high
Despite a 2.4 percent decline in power sales, the Tennessee Valley Authority posted its highest income in four years for the 2014 fiscal year, which ended Sept. 30. The Chattanooga Times Free Press reports that TVA earned $469 million, on revenue of $11 billion. A year ago, TVA earned $271 million on revenue of $10.8 billion. A nearly 2 percent increase in rates in 2014 helped offset a drop in electricity sales. Nashville Business Journal
Submitted 1 years 247 days ago

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Planning to expand to Mexico? Read this: Mexico’s Rule of Law Crisis
What do the September disappearance of 43 university students from the custody of local police in the state of Guerrero, Mexico, and new allegations of federal corruption in the awarding of public infrastructure contracts have in common? Answer: They both show that Mexico still has a huge problem enforcing the rule of law. The two developments have sparked a political crisis that could sink Institutional Revolutionary Party (PRI) President Enrique Peña Nieto ’s ambitious reform agenda if he doesn’t take quick and decisive action to restore confidence. Until now the president has been able to ignore Mexico’s legendary lawlessness. He has been riding an international wave of excitement around the opening of the energy sector, with few questions asked. But unless he wants to make common cause with the hard left—which thinks it has him on the ropes because of the missing students—he needs to admit his mistakes, purge his cabinet and make the rule of law job No. 1. The Wall Street Journal
Submitted 1 years 247 days ago

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Why airfare keeps rising despite lower oil prices
NEW YORK — U.S. airlines are saving tens of millions of dollars every week because of lower prices for jet fuel, their largest expense. So why don't they share some of the savings with passengers? Simply put: Airlines have no compelling reason to offer any breaks. Planes are full. Investors want a payout. And new planes are on order. In fact, fares are going higher. And those bag fees that airlines instituted in 2008 when fuel prices spiked aren't going away either. In the 12 months ended in September, U.S. airlines saved $1.6 billion on jet fuel. That helped them post a 5.7 percent profit margin in the first three quarters of this year, robust for the industry but lagging behind the 10 percent average for the Standard & Poor's 500. American Press
Submitted 1 years 247 days ago

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Obama Looks to Jump-Start Export Push
The Obama administration will fall well short of its goal of doubling exports in five years. But it is hoping to secure a longer-run victory on the trade front with sweeping new agreements in the next two years. A weak global economy deserves some of the blame for the failure to double exports in the five years through 2014, a target first outlined in President Barack Obama’s 2010 State of the Union address. Concerns about global growth also could determine whether the U.S. and its trading partners step up to strike deals, or step back in the face of domestic political concerns and worries about jobs in sensitive industries. Mr. Obama met with heads of the Group of 20 leading economies over the weekend in Australia to discuss ways to juice growth, which has again disappointed in Europe and Japan. For the U.S., one goal of increasing exports is to lift the lackluster manufacturing sector and relieve the pressure on consumers to deliver economic growth. The Wall Street Journal
Submitted 1 years 247 days ago

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How Cheniere Energy Got First In Line To Export America's Natural Gas
If you want to see what the natural gas revolution in America has wrought, there’s no better place than the Sabine Pass liquefied natural gas port in coastal Louisiana. There you can peer into five massive storage tanks, each almost big enough to contain Madison Square Garden. Taken together, they can hold the liquefied equivalent of 17 billion cubic feet of natural gas–a quarter of what the United States uses in a day. They’re empty. Built in 2008 by Houston-based Cheniere Energy when it appeared certain that the U.S. would soon run short on natural gas and need imports to make ends meet, they ran headlong into the Great American Gas Boom. Drillers in recent years have unlocked so much gas from tight rock that America now enjoys record gas supplies and prices that are just one-quarter of what buyers in Europe and Asia pay. Projections are that the annual U.S. gas supply could grow a further 25% by 2035. Forbes
Submitted 1 years 247 days ago

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Keystone pipeline fading into background in Oklahoma
CUSHING — The fate of the Keystone XL pipeline remains a hot-button issue in Washington, D.C., but Oklahoma has largely moved on from the debate. The portion of the project planned for Oklahoma already is operational. It was completed in two separate stages, delivering millions of gallons of crude oil into and out of the storage hub at Cushing. Now there is little sign of the project’s passing, aside from yellow markers and signs that mark its path through 11 Oklahoma counties. Officials with developer TransCanada said the company did its best to return the land along the pipeline right of way to its original condition. Daily Oklahoman
Submitted 1 years 247 days ago

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Repeal of U.S. oil export ban would lower gas prices, studies show
The U.S. government has banned oil exports since the energy crisis of the 1970s, but that could change next year as Republicans take control of Congress and are backed by new studies showing that repeal of the ban would actually lower gasoline prices and be a surprising boon to consumers. Sen. Lisa Murkowski, Alaska Republican and the expected new chairwoman of the Senate Committee on Energy and Natural Resources, has been the leading proponent in Congress for ending the ban, arguing that a sea change in the way oil and gas prices are determined in global markets has turned it into a relic of a past era of fuel scarcity, one that is increasingly harming the outlook for the nation’s booming shale oil industry. The Washington Post
Submitted 1 years 247 days ago

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Top 10 exports to selected countries worldwide
The world’s second-richest country the USA placed second in exporting during 2013. America shipped US$1.579 trillion worth of goods around the globe, up by 49.4% since 2009. Here are the top 10 exports for the U.S. to several countries worldwide in 2013. Worldsrichestcountries.com
Submitted 1 years 247 days ago

 

 

 

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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