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Oreck’s new owner to bring 200 jobs to Cookeville TN plant
TTI Floor Care North America, which bought Oreck Co. out of bankruptcy last summer, announced an expansion at Oreck’s Cookeville plant Monday afternoon. TTI will create 211 new jobs at the plant over the next five years, nearly doubling the local workforce. The company expects to be able to move some of their production from factories in China and Mexico. The Tennessean
Submitted 1 years 250 days ago

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Is NY SAFE Act The Reason Remington Laid Off 105 People?
Remington Arms laid off 105 employees from its Ilion, New York, facility and the reasoning for the lay-off is not entirely clear. In February, the company announced that it was expanding into Huntsville, Alabama, and creating more than 2,000 jobs. Recently, company spokesman Teddy Novin said that some of the jobs in New York are moving to Alabama, but failed to comment on how many. He gave no specific information about the lay-offs, other than suggesting there are some consolidation maneuvers of some of its production facilities. Americannewreport.com
Submitted 1 years 250 days ago

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Gov. Andrew Cuomo says gun control laws didn't prompt Remington move to Alabama
Remington's announcement that it's sending more jobs to Alabama – the most recent in a series of such moves made by the company since it said it would open a facility in Huntsville – is just business and has nothing to do with politics. AL.com
Submitted 1 years 250 days ago

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That's The Randle Report for August 25, 2014
Join us again tomorrow morning for all of the American South's business, economic development and political news in real time and in one place. Use the sort buttons or the search window above to find your favorite stories from yesterday, last week, last month or last year. Click on the headline to access Southern Business & Development magazine.
Submitted 1 years 250 days ago

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Perry's Lawyers Move to Dismiss Criminal Indictment
AUSTIN, Texas—Lawyers for Gov. Rick Perry moved to dismiss the felony charges against him on Monday, contending that his prosecution for alleged abuse of power is unconstitutional. In a 36-page legal brief, lawyers for the Republican governor said the indictment improperly encroaches on his "untrammeled authority" to veto funds. "Continued prosecution of Gov. Perry on the current indictment is unprecedented, insupportable and simply impermissible," the document states. A grand jury indicted Mr. Perry earlier this month on two felony counts for allegedly improperly threatening to veto $7.5 million in funding for the Travis County Public Integrity Unit, which handles political-corruption investigations in Texas, if Travis County District Attorney Rosemary Lehmberg didn't resign following an arrest for drunken driving. WSJ.com
Submitted 1 years 250 days ago

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Terrorism and Mexican cartels have Texas energy leaders worried
Texas Railroad Commission members are expressing growing concerns about the state's energy infrastructure being impacted by Mexican cartels and even the ISIS terrorist network. Commissioner David Porter of the Texas Railroad Commission, or RRC, wrote to the U.S. Customs and Border Protection (CBP) Commissioner R. Gil Kerlikowske, questioning the agency’s commitment to border security and the protection of vital energy infrastructure. Porter, a Republican, cited several published reports detailing unsettling communication between ISIS, al-Qaeda and Mexican cartels, the latter of which he said have long been active along Texas pipeline rights-of-way. Gov. Rick Perry has expressed similar concerns. Houston Business Journal
Submitted 1 years 250 days ago

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UTSA mapping out changing regulatory landscape in Mexico’s Energy Reform
The University of Texas at San Antonio Institute for Economic Development have formed a new partnership with the Universidad Autónoma de Nuevo Léon, the Asociación de Empresarios Mexicanos and other international trade groups to launch an economic impact study on shale oil-and-gas opportunities in Mexico. Spurred on by the booming success of new oil and gas development in South Texas’ Eagle Ford Shale, UTSA and partners will craft a comprehensive study detailing the economic and political impact of the recent Mexican energy reform legislation and what they means for foreign direct investment in Northern Mexico. It is believed that the geological formation known as the Eagle Ford Shale may extend into Mexico since natural resources are no respectors of man-made political subdivisions. BizJournals.com
Submitted 1 years 250 days ago

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Dramatic Shifts in Manufacturing Costs Are Driving Companies to Change Their Global Production Strategies
Dramatic shifts in cost competitiveness around the world over the past decade are starting to spur a number of companies to change their global sourcing and manufacturing investment strategies, according to a new report by The Boston Consulting Group (BCG). The report, titled The Shifting Economics of Global Manufacturing: How Cost Competitiveness Is Changing Worldwide, is being released today. Global automakers are expanding production in the UK, for example, which has emerged as one of Western Europe’s lowest-cost manufacturing locations, while at the same time they are slashing capacity in Australia, now one of the most expensive. In Mexico, where manufacturing costs are now estimated to be cheaper than those of China, Asian electronics manufacturers such as Foxconn and Sharp are expanding production. Boston Consulting Group
Submitted 1 years 250 days ago

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Baton Rouge, New Orleans both add 12,600 jobs in 12 month period
The Baton Rouge and New Orleans metro areas each gained 12,600 nonfarm jobs over the year ended July 31, the Louisiana Workforce Commission reported Friday. Seasonally adjusted numbers showed that was a 3.3 percent increase to a new total of 397,200 jobs in the Baton Rouge area. Big job gains were experienced at both goods-producing businesses and those that provide services in Baton Rouge, LWC officials reported. New Orleans had an uptick of 2.3 percent to boost its job total to 557,300. The service-providing sector was responsible for most of that increase, according to the LWC. The Lafayette area ended July with 163,800 jobs, an increase of 4,900, or 3.1 percent over the same month in 2013. Goods producers and service providers split the majority of those new jobs. The Lake Charles area, in the beginning stages of an industrial boom expected to add as much as $34 billion in new facilities, had the largest 1-year rate of growth in the state — 4.1 percent. That was an increase of 3,800 jobs, which placed the area’s total at 95,700. The Advocate
Submitted 1 years 250 days ago

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McMinn County, Tenn., auto suppliers are driving employment
ATHENS, Tenn — Kathy Knight says a new $28 million HP Pelzer factory that's building automotive soundproofing products here is growing faster than company officials first thought. "That gives us hope that the economy has turned around and we're seeing the jobs we had lost" in the Great Recession, said Knight, who directs the McMinn County Economic Development Authority. The Pelzer factory, where up to 200 employees will work by next spring, is another addition to McMinn County's cluster of auto companies. Four of the county's top five industrial employers, and five of its 10 biggest, are automotive or transportation related. Chattanooga Times Free Press
Submitted 1 years 250 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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