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MAJOR SC ECONOMIC DEVELOPMENT SCANDAL BREWING
announcing her intention to seek a second term as South Carolina’s governor, Nikki Haley boasted that her administration had announced new jobs “in 45 of 46 counties” in the Palmetto State. Never mind that most of these jobs are being paid for with tax dollars (a.k.a. picking winners and losers in the marketplace), and never mind that many more jobs are being lost every day in all forty-six counties (just look at South Carolina’s plummeting labor participation rate). Still, it’s a good sound bite for Haley … and it’s about to get better. Just days before Haley’s scheduled reelection kickoff in Greenville, S.C., her Commerce Department announced that 500 new jobs were coming to Fairfield County – the one county where Haley has yet to bribe, err bring in new jobs. In addition to these mostly low-income positions, the company – TV manufacturer Element Electronics – has also agreed to invest $7.5 million in exchange for an undisclosed amount of taxpayer-funded subsidies. “A great day in South Carolina,” right? Right …fitsnews.com
Submitted 1 years 339 days ago

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CyrusOne's addition offers new data centers for energy industry
The battle for the Senate is primed to go down to the wire. Democrats can lose up to five seats while retaining the majority—assuming Cory Booker wins October's special election in New Jersey—but the party is threatened by members facing tough races in the Deep South and other conservative states. Already, races for three Democratic-held open seats (Montana, South Dakota, and West Virginia) are favoring Republicans, and Sen. Mark Pryor is looking in tenuous shape in Arkansas. National Journal
Submitted 1 years 339 days ago

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STOCKS RALLY: Here's What You Need To Know
Stocks rallied on the back of a Microsoft surge. First, the scoreboard: Dow: 15,010.3, +46.8, +0.3% S&P 500: 1,663.4, +6.5, +0.3% NASDAQ: 3,657.7, +19.0, +0.5% And now, the top stories: Business Insider
Submitted 1 years 339 days ago

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On-the-job death toll declines in U.S., jumps in Texas
Fewer workers died on the job last year across the nation, but that wasn't the case in Texas. On-the-job fatalities jumped nearly 23 percent across the state last year, according to preliminary data released Thursday by the U.S. Bureau of Labor Statistics. Nearly all of the increase came from a spike in the number of transportation-related deaths. Houston Chronicle
Submitted 1 years 339 days ago

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Florida Hilton beach hotel to power up wind energy soon
A new rooftop attraction is turning heads at one South Florida hotel. The Hilton Fort Lauderdale Beach Resort has installed six wind turbines to plug into the natural breeze blowing from the Atlantic Ocean and help power its facilities. It's the first Hilton of more than 500 properties to have installed wind turbines, executives said. They also believe it's the first hotel in South Florida to get them. Sun-Sentinel
Submitted 1 years 339 days ago

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Texas funding request becomes football in Obamacare debate


Austin American-Statesman
Submitted 1 years 339 days ago

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Stable Trading Company Selects Lumberton, N.C.
RALEIGH -- Governor Pat McCrory and North Carolina Commerce Secretary Sharon Decker announced today that Due Process Stable Trading Company, LLC will locate a new manufacturing facility in Robeson County. The company plans to create 45 new jobs and invest $1.37 million over the next three years in Lumberton. Thrivenc.com
Submitted 1 years 339 days ago

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Chattanooga VW sign now visible on Google Maps
The Chattanooga Volkswagen plant’s 630-foot-long roof sign and 33-acre solar park are now visible on Google Maps, according to the automaker. The sign, on the roof of the body shop, is 633 feet long and 208 feet deep. The capital letters are 85 feet high and the lower-case letters are 55 feet high. The roofing signage is an acrylic, elastomeric, spray-applied coating. The sign was completed in September 2012. Chattanooga Times Free-Press
Submitted 1 years 339 days ago

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Harris Teeter considers $4M expansion of Union County site
Harris Teeter is considering investing $4 million and adding 50 jobs to expand a distribution center in Union County. To entice the grocery store chain, the county on Thursday said it will hold a public hearing to consider providing up to $66,000 in economic development incentives over a five-year period. County commissioners have set the hearing date for Sept. 3. Charlotte Observer
Submitted 1 years 339 days ago

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Citigroup lays off 150 in Fort Mill
Citigroup said Thursday it is laying off 150 workers at its Fort Mill, S.C., operation, underscoring the ongoing flux in the U.S. mortgage industry. The nation’s third-largest lender by assets employs 900 at the site just off Interstate 77. The layoffs represent 17 percent of the workforce at the operation. Charlotte Observer
Submitted 1 years 339 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 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     
After I finished the cover story for this issue, I read an interesting article by economist Paul Krugman, the op-ed columnist for the New York Times, titled, "Partying like it’s 1995." Generally I side with Krugman, even though I am a journalist, not an economist. Occasionally, though, I read some of his stuff and ask myself, "What planet did Krugman come from?" Like when he predicted a shift of automotive assembly to Canada after Toyota announced a new plant in Woodstock, Ontario in 2005 because of "free healthcare," among other benefits. That Toyota deal was the last major automotive assembly plant announced in Canada and I predict it will be the very last one for the Canadians.
 
 Nashville Mayour Karl Dean
If you have ever seen one of my presentations, then you know about the word "reshoring" and how that phenomenon has lifted the spirits of even the most skeptical Southerners regarding the future of the region's economy. After all, in the last four decades, manufacturing has suffered a bloodletting never before seen in U.S. history. The biggest factor behind the slow and long meltdown that began in the 1990s was the herd mentality to offshore manufacturing capacity to cheaper locales, primarily by U.S.-owned companies.
 


 

 

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