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NC to start test drilling for natural gas to lure energy industry
RALEIGH — Gov. Pat McCrory’s signing of major energy legislation into law Wednesday sets the stage for preliminary exploration of North Carolina’s shale gas potential, with the state government taking the lead where private industry has been reluctant to commit. State-sponsored drilling is expected to get underway this fall in Eastern North Carolina as part of a $550,000 state effort approved last year to help the energy industry assess fracking prospects here. Boosters of energy exploration want to expand the state’s drilling activities beyond the six counties designated last year. NewsObserver.com
Submitted 1 years 252 days ago

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Rick Perry: Texas will be “political burial ground” for Democrats
FORT WORTH — Gov. Rick Perry had a strong message Thursday for Democrats who hope to turn Texas blue in the next election or two. Don’t mess with Texas. “National Democrats think Texas is the new battleground,” Perry told a crowd of thousands of Republicans gathered in Fort Worth for the first day of their state convention. “Let’s be real clear. “Texas will be their political burial ground.” Thursday was the kick off of the GOP state convention, a three-day event geared to boost party unity and ramp up Republicans for the November general election. Star-Telegram.com
Submitted 1 years 252 days ago

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Details on incentives for new American operations center could be revealed next week
Fort Worth mayor Betsy Price said the city is in discussions with American Airlines about the construction of a new operations center in Fort Worth and any incentives for the project could be discussed publicly as early as next week. "We will be working with them to see how this facility moves forward," Price said following a Dallas/Fort Worth Airport board meeting on Thursday. "We've had some briefings in executive session that for legal reasons needs to stay there for the time being." Star-Telegram.com
Submitted 1 years 252 days ago

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American Airlines to build new operations center near Fort Worth HQ
American Airlines Group Inc. said Wednesday that it plans to build a new Dallas-Fort Worth operations center to oversee the daily flight operations of American Airlines Inc. and US Airways Inc. In a letter to employees announcing the facility, American did not disclose its location, other than to say it wouldn’t be far from American’s headquarters at 4333 Amon Carter Blvd. in Fort Worth, just south of Dallas/Fort Worth International Airport. The facility is to open in the third quarter of 2015. DallasNews.com
Submitted 1 years 252 days ago

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Texas Central sees 90-minute Dallas-Houston commute at 205 mph
A Texas company hopes to create a high-speed rail corridor to move passengers at speeds that would leave Amtrak’s Acela in the dust — all with private funds. Texas Central Railway, a private company working with Japan Railway Co., wants to build a closed high-speed rail corridor served by a bullet train that would get people from Dallas to Houston — the Lone Star State’s two biggest cities — in 90 minutes. The company is eyeing a 2021 date for starting service, and though the exact route isn’t yet pinned down, the company is hoping the rail line will run from downtown to downtown. Politico.com
Submitted 1 years 252 days ago

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Roy Exum: How The UAW ‘Really’ Works
The United Auto Workers union put on a textbook show for Chattanooga’s Volkswagen employees of “how it really works” Tuesday afternoon. The union was holding its 36th Constitutional Convention at Detroit’s Cabo Center when finally the subject of the first dues increase since 1967 came up. The Detroit News reported that 1,100 delegates, considering raising the dues from two hours of monthly pay to two-and-a-half, heard 40 speakers who were evenly divided on the issue and “rejected repeated calls to refer the issue to a referendum of the union’s entire nearly 400,000 members.” Chattanoogan.com
Submitted 1 years 252 days ago

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Could Nissan's Smyrna plant become world's largest auto plant?
Strong demand for vehicles assembled at Nissan's Smyrna plant has driven the company to expand production, pushing the current workforce to a near-record 8,000 people, Nissan officials said this week. As production expands, the Smyrna facility is on the verge of becoming the top-producing auto plant in the world, said Fred Diaz, vice president for sales, marketing and operations for Franklin-based Nissan North America. "We can't talk yet about other production [for the plant], but there could be a really good story about what's coming to Smyrna," he said. Tennessean.com
Submitted 1 years 252 days ago

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Official: $750 million at stake in Arkansas as federal highway fund nears depletion
LITTLE ROCK — If the federal Highway Trust Fund is allowed to go bankrupt, Arkansas stands to lose $750 million in federal highway funding over the rest of this fiscal year and the next, Arkansas Highway and Transportation Department Director Scott Bennett said Wednesday. Also Wednesday, the state Highway Commission approved a budget request that seeks to increase the agency’s ability to respond to severe weather. ArkansasNews.com
Submitted 1 years 252 days ago

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Alabama Power's Crosswhite elected chairman of the Economic Development Partnership of Alabama
The new CEO of Alabama Power Co. is also the new chairman of the Economic Development Partnership of Alabama. EDPA said today Mark Crosswhite, who became the chief executive of Alabama Power in March after the retirement of longtime chief Charles McCrary, has been elected to chair the board of directors of the state's private economic development organization. "I'm honored to chair EDPA's board," Crosswhite said in a statement. "The leadership of EDPA shares a strong commitment to build on Alabama's economic development success. AL.com
Submitted 1 years 252 days ago

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NC economic development partnership bill moving forward
Legislation creating a public-private economic development enterprise cleared House and Senate committees on Wednesday. If it passes the General Assembly it is expected to be signed by Gov. Pat McCrory and start operations in July. The aim is to create a nonprofit corporation that contracts with the state Department of Commerce to attract jobs and promote international trade and tourism. It would strive to be more like private industry, faster and more flexible than state government bureaucracy. NewsObserver.com
Submitted 1 years 252 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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