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Mother Nature wallops W.Va. with $370 million punch
CHARLESTON, W.Va. - Weather-related damage in West Virginia likely will cost more than $370 million this year, according to regulatory filings and government estimates. The state was slammed first in late June by a wall of wind known as a derecho. That windstorm knocked out power across the state for several days. In late October, the remnants of Superstorm Sandy dumped snow across the eastern side of the state and left hundreds of thousands again without power and stuck in the snow. Charleston Daily Mail
Submitted 1 years 350 days ago

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Gov. Beshear Announces L'Oréal USA to Invest $42 Million, Add More Than 200 Jobs in Northern Kentucky
FLORENCE, Ky. (Nov.15, 2012) – Governor Steve Beshear today joined company and local officials in northern Kentucky to announce an expansion for global cosmetics and hair care manufacturer L’Oréal USA, which plans to add 211 jobs and invest more than $42 million in the Commonwealth. Gov. Beshear met with L’Oréal officials in Paris during an economic development trip to Europe this summer to discuss the company’s Kentucky footprint and growth opportunities. “L’Oréal is a household name, a global brand and a leader in its industry,” said Gov. Beshear. “We’re proud to have L’Oréal in northern Kentucky and excited to see more than 200 new jobs and a $42 million investment on the way." Kentucky Cabinet for Economic Development
Submitted 1 years 350 days ago

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Reps. Ron Paul and Barney Frank to Obama: Leave pot smokers alone
Two House lawmakers are urging President Obama not to interfere with recent state decisions to legalize marijuana for recreational use. Reps. Ron Paul (R-Texas) and Barney Frank (D-Mass.) wrote to Obama Wednesday asking his administration not to prosecute residents of Colorado and Washington, where voters just passed ballot measures to legalize the drug. "We believe that respecting the wishes of the electorates of Colorado and Washington and allowing responsible state authorities to carry out those wishes will provide valuable information in an important national debate," the members wrote. The Hill
Submitted 1 years 350 days ago

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Obama Hints Economy Strong Enough for Tax Hike
President Obama has previously urged tax hikes on wealthier Americans, only to back down two years ago in the face of a brittle economy and a resistant and resurgent GOP. That won’t happen again, he assured the country today in his first news conference since securing a second term last week. The president suggested the economy had become sturdy enough to absorb the consequences of letting the lower tax rates originally introduced by George W. Bush expire for households with incomes above $250,000. The Fiscal Times
Submitted 1 years 350 days ago

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Redefining workforce development: 'Trainable' employee pool no longer enough
MOBILE, Alabama -- For decades, the universal mantra of economic development officials has been the availability of a “trainable workforce,” but a post-recession economy and increasingly global marketplace is systematically redefining this Holy Grail of recruiting tools. “When we say trainable now, what we mean is skilled, and not just basic skills. Those are expected. They’re pre-requisites,” said Troy Wayman, vice president of economic development for the Mobile Area Chamber of Commerce and chairman of the Southwest Alabama Workforce Development Council. al.com
Submitted 1 years 350 days ago

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Memphis City Council hears from critic of economic development incentives
Public incentives have become the costly new "war between the states," one that often pits neighboring communities against one another in a winner takes all competition for valuable jobs, an author and consultant critical of public incentives told a Memphis City Council committee Tuesday. "Too many of them have become deregulated and so they've just become either 'gimmes' or political pork," said Greg LeRoy, executive director of Good Jobs First, an organization that focuses on making government incentives more accountable and effective. "They don't really match the definition of incentive anymore, causing something to happen that isn't happening." Memphis Commercial Appeal
Submitted 1 years 350 days ago

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Savannah Firm Adding 150-200 Jobs
A machine company has announced plans for an expansion of its Savannah facility that is expected to add up to 200 jobs. K Machine Industrial Services LLC announced the expansion Tuesday at a meeting of the Savannah Economic Development Authority. Company officials said the firm will expand its existing Savannah facility by 20,000 square feet, adding larger machines and 150 to 200 new jobs when the project is complete in about two years. GPB News
Submitted 1 years 350 days ago

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BP expected to admit to criminal misconduct in 2010 spill
HOUSTON (Reuters) – BP Plc is expected to plead guilty to criminal misconduct in the 2010 Deepwater Horizon disaster through a plea agreement it has reached with the U.S. Department of Justice that may be announced as soon as Thursday, according to two sources familiar with discussions. The sources, who spoke to Reuters on condition of anonymity, said that BP will plead guilty in exchange for a waiver of future prosecution on the charges. BP and the Justice Department declined to comment.
Submitted 1 years 350 days ago

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Tampa, Hillsborough offer incentives to expanding companies
TAMPA -- Two financial services companies are asking Hillsborough County and the city of Tampa to help them expand their operations in the city. A third, unnamed company, has approached Hillsborough County and the city of Temple Terrace with the same request. Together, the three firms are seeking nearly $2 million in state and local aid over the next four or five years to add about 1,000 jobs to the local market. "They're careers," said Brandi Young, spokeswoman for Digital Risk LLC, an Orlando-based firm that vets mortgage documents. Tampa Bay Online
Submitted 1 years 350 days ago

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Hostess says it will liquidate if strikers don't return by Thursday afternoon
Irving-based Hostess Brands Inc. said Wednesday that it will seek to liquidate itself in bankruptcy if a sufficient number of striking employees fail to return to work by 5 p.m. Eastern (4 p.m. Central) on Thursday. “We simply do not have the financial resources to survive an ongoing national strike,” said Gregory F. Rayburn, the Irving company’s chairman and CEO, in a statement. That would entail the loss of nearly 18,000 jobs, Hostess’ statement said. Dallas Business Journal
Submitted 1 years 350 days ago

 

 

 

Features & Opinion

 Top Ten Places in the South for Relocating California Companies

The America South is home to almost as many residents as the Northeast and the Midwest combined, but even that statistical record is about to be broken. According to a new Census Bureau study that came out in April, 51 percent of the nation's population jump occurred in the South from 2010 to 2013.
 

 Randle Report - Business News in the South

 FEATURE  
By Stacy Randle
Demographer Wendell Cox recently analyzed the largest gains in holders of bachelor's and post-graduate degrees between 2007 and 2012 in the 51 metro regions in the U.S. of 1 million residents or more. The results were published in Forbes magazine and the South dominated the ranking.
 

 Business News in the South - Randle Report

FEATURE     
This is our annual "Made in the South" issue and it's timely because there is a new player in the South's manufacturing universe. For almost two decades, economic developers and politicos in the South and the U.S. have been chasing Chinese projects with little or nothing to show. Want proof we've been chasing ghosts in China for years? Okay, go ahead and name a Chinese brand that's made in the South? Tick. . .tick. . .tick. Give up?
 
 Nashville Mayour Karl Dean

We try to change up the categories in our annual Ten Top 10s section, but we always include the "Ten People Who Made a Difference" category. This year though, we are honoring 12 and you will learn why by reading about this group of folks who have made a difference in the South. Here is our annual list that includes executives, economic developers and politicians who have made a difference in the South's economy.


 


 

 

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