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N.C. Triad manufacturers form apprenticeship consortium to grow local work force
Whitsett-based Machine Specialties Inc. has teamed up with several other Triad manufacturers to form a consortium that will run a youth apprenticeship program in Guilford County. The newly formed Guilford Apprenticeship Partners group is an outgrowth of discussions at an apprenticeship summit hosted by the Triad Workforce Solutions Collaborative at Machine Specialties in May. It's an example of how industry leaders are taking ownership of efforts to create a pipeline of new manufacturing employees starting at the high school level. Triad Business Journal
Submitted 1 years 223 days ago

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Former Charlotte mayor Anthony Foxx sued for $421,000
Former Charlotte mayor and current U.S. Transportation Secretary Anthony Foxx is being sued by the trustee of his former employer for $421,000. The suit accuses Foxx of not actually working for locally based busmaker DesignLine during his tenure there as deputy general counsel. DesignLine, a locally based company specializing in hybrid and environmentally friendly buses, filed for Chapter 11 bankruptcy protection in 2013. At the time, the company faced $53 million in debts. Charlotte Business Journal
Submitted 1 years 223 days ago

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Japanese group makes huge University of Texas investment in data center energy efficiency
A Japanese agency is investing $13 million in a new partnership with the University of Texas that will see the school begin using alternative energy sources to power its high-performance computers. UT’s agreement with the New Energy and Industrial Technology Development Organization, or NEDO, will put the university at the forefront of the movement to promote efficiency in the data center industry, and will provide opportunities for students and researchers studying emerging energy systems. Austin Business Journal
Submitted 1 years 223 days ago

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Austin startup develops software for electric vehicles
Serial entrepreneur Dean Drako’s latest startup has come out of stealth mode with software designed to improve the performance of electric vehicles. Austin-based Drako Motors Inc., which was founded in 2013, has launched a software platform called DriveOS. The technology is designed to control all four wheels independently “with proactive millisecond acceleration and deceleration, delivering a level of drivability, corner control, performance and safety that is not possible with conventional drivetrains,” according to the startup's website. Austin Business Journal
Submitted 1 years 223 days ago

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Georgia tax revenues up 6.1 percent in July
The state collected $1.58 billion in net taxes last month, an increase of 6.1 percent over July of last year. The biggest increase came in the form of individual income taxes, which rose by 9 percent over July of 2014. Gross sales tax revenues were up 5.8 percent over July a year ago. Corporate income taxes declined nearly $4.3 million in July, a 16.2 percent decrease compared to July of last year. Atlanta Business Chronicle
Submitted 1 years 223 days ago

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Procter & Gamble to remediate site of new WV plant
MARTINSBURG, W.Va. — Proctor & Gamble has joined a voluntary program to address a pesticide found at the site of the company’s planned manufacturing plant in Berkeley County. Proctor & Gamble said in a statement to The Journal that a soil study found trace amounts of a pesticide used in the 1950s at the site. The company said there’s no reason to believe there is a health hazard. The West Virginia Department of Environmental Protection said its Office of Environmental Remediation approved Procter & Gamble’s application to participate in the state’s voluntary remediation program. Charleston Daily Mail
Submitted 1 years 223 days ago

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Is U.S. near the point of too strong dollar?


Submitted 1 years 223 days ago

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U.S. Productivity Increases at 1.3% Pace in Second Quarter
WASHINGTON—U. S. worker productivity advanced at a modest pace this spring, reflecting only moderate economic growth despite steady hiring. The productivity of nonfarm workers, measured as the output of goods and services per hour worked, increased at a 1.3% seasonally adjusted annual rate in the second quarter, the Labor Department said Tuesday. From a year earlier, productivity was up 0.3%. The annual gain is well below the long-term average of 2.2% a year since the end of World War II. The Wall Street Journal
Submitted 1 years 223 days ago

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Let's make this foolish economic development myth vanish for good
The belief that "80 percent of all new jobs come from existing business and industry" is an out-of-date, old-fashioned fabrication. I have no idea how it started, where it started, or who said it first, but there are professionals in economic development, as well as leaders of government in the South, who actually believe that each year, 80 percent (why 80 percent I don't know, either) of all new jobs are created by existing business and industry. I hear it all the time and I just roll my eyes. There is nothing static in economic development but this: 100 percent of all lost jobs come from existing business and industry. Southern Business & Development
Submitted 1 years 223 days ago

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SureCan's opening means 101 more jobs in Tennessee
A company that makes and assembles gas cans has opened a manufacturing facility in Wilson County that will create 101 jobs, the state has announced. SureCan Incorporated will invest $15.5 million with its new operation at 800 Maddox Simpson Parkway in Lebanon, according to G.C. Hixson, Joint Economic and Community Development Board of Wilson County Director. SureCan has already moved into the existing building owned by Cato Industrial that is approximately 92,000 square feet, Jack Cato said. The Tennessean
Submitted 1 years 223 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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