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EDC wooing tech firm that may 'kick off' Orlando's Creative Village
The Metro Orlando Economic Development Commission hopes to announce a tech company expansion in Orlando soon that could spur the Creative Village project in downtown. Creative Village, the planned $1 billion, 68-acre high tech and education-focused development at the site of the old Amway Center, already could get the University of Central Florida and Valencia College as major tenants. At the Commercial Real Estate Women Orlando luncheon Sept. 18, Tracy Turk, director of business development for the Metro Orlando Economic Development Commission, said a possible deal for a tech company is in the works. Orlando Business Journal
Submitted 1 years 248 days ago

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Carolina Premium Foods to hire 700 in Siler City, N.C.
Carolina Premium Foods, a Moore County company establishing an antibiotic free chicken processing plant at a former Townsend Chicken facility in Siler City, hopes to hire 700 employees at full-scale production, with 200 anticipated hires by next summer. CEO Brian Thomsen says contracts to distribute antibiotic free chicken are in place with distributors across the country. “We have agreements with distributors to carry 2 million pounds of chicken per week,” he says. “The Siler City plant at full operation for us will generate 3.5 million pounds per week. That’s to distribute to the Northeast, West Coast and Southeast. Our biggest limitation is sourcing organic grain.” Triad Business Journal
Submitted 1 years 248 days ago

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Jacoby Development to seek approval for massive redevelopment of Norcross, Ga. plant into a mixed-use campus
Jacoby Development Inc. has filed plans to rezone 107 acres of the OFS Brightwave Solutions plant in Norcross and turn the campus into a giant movie studio and mixed-use project. Founder Jim Jacoby, whose projects have included the conversion of the Hapeville Ford plant into a new headquarters for Porsche Cars North America and a steel mill into Midtown’s Atlantic Station, is tackling another challenging redevelopment in the OFS site. Jacoby Development would seek zoning to redevelop up to 464,800 square feet for a movie studio, 298,870 square feet for a film school, a 310-room hotel and more than 1,000 multifamily units, according to the plans filed with Gwinnett County. The project would transform the current OFS Plant at Jimmy Carter Boulevard and Interstate 85 and have a broader effect on the entire area. Atlanta Business Chronicle
Submitted 1 years 248 days ago

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China Tells Domestic Companies -- Go Make Overseas Acquisitions
BEIJING -- China's outbound investment more than doubled in August to $12.62 billion, data showed Tuesday, far outstripping foreign direct investment (FDI) into the country, which fell to a four-year low. China has been actively acquiring foreign assets, particularly energy and resources, to power its economy, with firms encouraged to "go out" and make overseas acquisitions to gain market access and international experience. Officials have said overseas direct investment (ODI) could exceed FDI this year. The 112.1% year-on-year increase in ODI announced by the commerce ministry was a dramatic contrast to the 14% fall in FDI, which sank to $7.20 billion. Both sets of figures exclude investment in financial sectors. Industry Week
Submitted 1 years 248 days ago

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Investing in the US is the Rallying Cry of Energy Sector Companies
From 2011 to August 2014 U.S. investments totaled $124 billion, in the form of 196 announcements of new chemical plants or upgrades to existing plants. While it’s not news that the availability of cheap natural gas is attracting investment in the U.S, it is noteworthy to see just how large those investments really are. From 2011 to August 2014 investments totaled $124 billion, in the form of 196 announcements of new chemical plants or upgrades to existing U.S. plants. This is according to the American Chemistry Council as reported by Nanette Byrnes in the MIT Technology Review. Industry Week
Submitted 1 years 248 days ago

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Here's why HCL chose Cary - and it wasn't the incentives
HCL could have made more money by bringing those 1,237 jobs to New York. New York offered $56.9 million in incentives. Arizona offered $5.6 million and Texas offered $9.8 million. With state and local incentives, HCL could earn up to $21.37 million in incentives to move here. The candid take of Gov. Pat McCrory, speaking after Indian-based IT firm HCL, a new Global Development Center in Cary, is that the decision comes down to “synergy.” Basically, the more companies that are clustered in North Carolina, the more companies will pay attention to our state as an expansion destination. Triangle Business Journal
Submitted 1 years 248 days ago

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HCL: Here's what the 1,237 jobs will entail in Cary
New jobs created at HCL's Global Development Center will be across the spectrum, say HCL execs. Triangle Business Journal
Submitted 1 years 248 days ago

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Durham's BioCryst has now received $20M to develop Ebola treatment
Durham’s BioCryst Pharmaceuticals, Inc. received another $20 million to continue development of a possible Ebola virus treatment. Triangle Business Journal
Submitted 1 years 248 days ago

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Texas seeking to become national leader in flu vaccine production
Texas soon will be better prepared to fight deadly strains of the flu once its $91 million Pandemic Influenza Vaccine Facility is fully operational in 2015. San Antonio Business Journal
Submitted 1 years 248 days ago

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V-Soft follows through on plan to expand headquarters, adding 25 jobs
V-Soft Consulting Group Inc. is following up on its plans to expand its headquarters in Louisville and add 25 jobs. Business First
Submitted 1 years 248 days ago

 

 

 

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 Mike Randle
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. That, and of course 100 percent of the time site consultants never pay for a meal.
 

 Business News in the South - Randle Report

FEATURE     
According to Chinese theory, yin is a passive, negative force and yang is an active, positive force. Chinese philosophers believe that the opposing forces aren't really contradictory. Instead, they are interconnected and complimentary, interacting to create a balance in one's life. 
 
 Nashville Mayour Karl Dean
The Annie E. Casey Foundation's KIDS COUNT report was released in the summer quarter. I try to read it every time it comes out since I find it to be the best indicator of child poverty, a statistic everyone involved in economic development needs to be aware of. The Annie E. Casey Foundation is a charity that supports disadvantaged children. 
 


 

 

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