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If North Carolina's GDP were a country, it would be Taiwan
A map shows just how big the $18 trillion U.S. economy really is by comparing the gross domestic product of individual states to the GDP of countries around the world. Mark Perry, an economist and professor at the University of Michigan, created the map, which is published on the American Enterprise Institute's Carpe Diem blog. The findings were compiled using GDP data by state from the Bureau of Economic Analysis and GDP by country from the International Monetary Fund. Charlotte Business Journal
Submitted 1 years 231 days ago

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Walmart planning warehouse in Polk County, Fla., with 625 jobs
Walmart is planning a new warehouse facility in Polk County that could create more than 600 jobs, the Lakeland Ledger is reporting. The Polk County Commission plans to consider a 10-year, $12.4 million property tax break under the county's economic development tax break ordinance at a meeting Tuesday. The 100 percent tax break was based on Walmart's plans to invest $206.8 million in the project and to create 625 new jobs with salaries more than 115 percent of the average local wage. Tampa Bay Times
Submitted 1 years 231 days ago

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It's official: Herbalife adding 300+ jobs to Winston-Salem plant
Herbalife, the nutrition-products company that operates a $100 million manufacturing and distribution facility in Winston-Salem, plans to create 301 new jobs by the end of 2018 and invest an additional $3.5 million into the facility by the end of next year, according to an announcement from Gov. Pat McCrory. The Triad Business Journal had previously reported that Herbalife (NYSE: HLF) was considering adding 300 positions at its 3200 Temple School Road plant on top of 500 positions expected to be in place at the $100 million facility by the end of the year. Triad Business Journal
Submitted 1 years 231 days ago

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Dive into the data: Travis County, Texas' 2014 job growth among best in nation
Travis County had some of the fastest employment growth in the nation in 2014, according to a new report from Headlight Data that crunched recently released information from the Department of Labor's Bureau of Labor Statistics. Travis County reported 4.2 percent growth in the number of jobs in 2014, the third-best growth rate in the nation for counties with more than 1 million people. Travis County added 26,585 new jobs in 2014, bringing the total number of jobs there to 654,809. That's in line with area-wide statistics just released by the Austin Chamber of Commerce, which pointed out in this article that unemployment is the lowest it has been since 2001. Austin Business Journal
Submitted 1 years 231 days ago

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Atlanta Law Firm Missing $20 Million Seeks Chapter 11
Morris Schneider Wittstadt, an Atlanta law firm embroiled in lawsuits over more than $20 million that went missing from its accounts, filed for Chapter 11 bankruptcy protection Sunday. Morris Schneider’s troubles have been playing out publicly since last year, when money was found to be missing from accounts linked to the firm’s real-estate business. The firm claims that former majority owner Nathan Hardwick tapped the firm’s accounts for his “personal use (including payments remitted directly to casinos and on account of private jets for the personal use of Mr. Hardwick, his girlfriend and family),” the firm’s executive managing partner, Mark Wittstadt, said in bankruptcy court papers. The Wall Street Journal
Submitted 1 years 231 days ago

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Report: Atlanta a Top 10 strongest market in demand for office space
Tenant demand for commercial real estate rebounded strongly in the second quarter of 2015 prompting rental rates to rise in more than 70 percent of the United States, according to commercial real estate firm DTZ. Atlanta is one of the top 10 strongest markets in terms of demand for space, the firm says. A DTZ report for Q2 2015 says the Top 10 strongest markets in terms of demand for office space are: Atlanta Business Chronicle
Submitted 1 years 231 days ago

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U.S. Consumer Confidence Jumps in June
Consumers feel much better about the economy and labor markets in June, a positive trend for future spending according to data released Tuesday. The Conference Board, a private research group, said its index of consumer confidence jumped to 101.4 in June from a revised 94.6 in May, first reported as 95.4. The index equals the multiyear high of 101.4 in March. Economists surveyed by The Wall Street Journal had forecast the latest index to increase, but only to 97.5. The University of Michigan reported last Friday that its consumer sentiment index increased to a five-month high in June. The Wall Street Journal
Submitted 1 years 231 days ago

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OECD: Broken “Diffusion Machine” Is Slowing Productivity
We haven’t stopped having good ideas, but those we do have aren’t spreading as quickly as they once did. So argues the Organization for Economic Cooperation and Development in its latest attempt to explain the slow growth of productivity in the years leading up to and following the financial crisis. Its suggested remedy is an intensification of global competition among businesses that will cull the old and the weak, and allow newer, more dynamic rivals to thrive and grow. In the study, the Paris-based research body found that productivity growth had slowed across developed economies during the from 2000 to 2013, and across China and India during the years from 2007 to 2013. That matters because over the longer term, people can only earn more if they get better at producing goods and services. The Wall Street Journal
Submitted 1 years 231 days ago

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The New Job Advice: Put Down the Machine Tool, Pick Up the Hammer
Businesses are hiring at a solid pace, as shown by Friday’s employment report. But the mix of jobs is also important. For those who have less than a college degree, the best career path may lead to a construction site. No doubt about it, the bulk of U.S. jobs are created in the service sector. Of the 223,000 slots added in June, 222,000 were in the private service sector. But the goods side of the economy on average creates better-paying jobs. And typically (although this is changing) these jobs do not require a college degree, which means the positions are accessible to a majority of workers. The Wall Street Journal
Submitted 1 years 231 days ago

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China’s Hunger for Robots Marks Significant Shift
Having devoured many of the world’s factory jobs, China is now handing them over to robots. China already ranks as the world’s largest market for robotic machines. Sales last year grew 54% from a year earlier, and the boom shows every sign of increasing. China is projected to have more installed industrial robots than any other country by next year, according to the International Federation of Robotics. China’s emergence as an automation hub contradicts many assumptions about robots and the global economy. The Wall Street Journal
Submitted 1 years 231 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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