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Apple says Maiden, N.C. to be all green
Apple says its $1 billion Maiden data center will sport a second large solar farm that will help power the site entirely by renewable energy by the end of this year. The 500,000-square-foot center will draw about 20 megawatts of power at full capacity, the company says in a post on its website, and produce 60 percent of it onsite. Apple says it will directly buy the other 40 percent from local and regional renewable-energy sources. Greenpeace has pressured Apple for months over use of coal by Duke Energy, which serves the area, and more recently the use of diesel-powered backup generators. Charlotte Observer
Submitted 1 years 339 days ago

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Tampa Bay leads nation in foreclosure filings
Once again, Tampa Bay leads the nation in foreclosures, by a lot. The number of bay area properties receiving a notice of default, scheduled auction or bank repossession jumped nearly 18 percent from March to April according to a RealtyTrac report released today. Year-over-year, the jump topped the nation rising 59 percent; Miami placed second with 38 percent. Notices for scheduled auctions and bank repossession accounted for about 59 percent of the 4,295 filings last month in the bay area, the report said. The filings indicate banks are attacking a glut of homes near the end of the foreclosure process. That's good news. Tampa Bay Times
Submitted 1 years 339 days ago

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Georgia's ports tally tens of thousands of jobs, big economic impact
Georgia’s ports directly support 153,884 jobs statewide -- an addition of 25,000 jobs since 2009 -- according to a University of Georgia report released Thursday. The public ports at Savannah and Brunswick, along with neighboring private port facilities, also account for $39.2 billion in statewide economic impact, or direct spending, the study prepared by UGA’s Terry College of Business says. Three years earlier, when the last ports study was done, the economic impact was pegged at $36.5 billion. “The outstanding performance of Georgia’s deep water ports, relative to other American ports, reflects strong competitive advantages,” wrote UGA economist Jeffrey Humphreys. “These advantages are largely the result of strategic investments in port facilities by the state of Georgia over many years.” Atlanta Journal-Constitution
Submitted 1 years 339 days ago

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Kentucky lawmakers say agreement keeps Paducah uranium plant open for another year, saves 1,200 jobs
WASHINGTON — An agreement to process depleted uranium at the Paducah Gaseous Diffusion Plant will keep the sprawling facility open for another year and preserve 1,200 jobs, Kentucky lawmakers and federal energy officials announced Tuesday. A series of arrangements involving the federal government and energy suppliers will provide a market for the uranium, Energy Secretary Steven Chu said in a statement. The Paducah plant was scheduled to close at the end of this month. The deal marks a reversal in the Obama administration’s reluctance to keep the Paducah plant running. The agreement also is a victory for Republican lawmakers Mitch McConnell, the Senate GOP leader; Sen. Rand Paul; and Rep. Ed Whitfield; all of whom appeared to be fighting long odds just months ago. Louiville Courier-Journal
Submitted 1 years 340 days ago

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Manufacture, Baby, Manufacture?
Will the second decade of the twentieth century be the decade of "Manufacture, Baby, Manufacture"? It seems increasingly that way -- I had referenced the unusual recovery in manufacturing employment since the 2008 recession in an offhand way in my post on industry-level signaling, and that sparked my curiosity to see to what extent this recovery is cyclical, and to what extent is it structural. The answer is that I cannot explain the recovery of manufacturing employment with a cyclical story. In short, what's going on in manufacturing employment represents, to a large extent, a turnaround at the industry level, rather than broader macroeconomic gains. Huffington Post
Submitted 1 years 340 days ago

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Thank God An American Recovery
There are unmistakable signs that the U.S. ­economy is recovering from recession, and I strongly believe it will be ­charging ahead by the end of the year. This is a natural recovery, not one produced by government intervention. A large capitalist economy operating in a free country has an inherent propensity to work its way out of a recession, provided the people in charge of the country don’t do anything particularly foolish to prevent it. Forbes
Submitted 1 years 340 days ago

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ITT Exelis becomes 10th Fairfax County, Va.-based company to crack the Fortune 500
Fairfax County, Virginia USA, Wednesday, May 16, 2012 - ITT Exelis, which spun off from ITT Corporation in 2011 and established its headquarters in the Tysons Corner area of Fairfax County, becomes the 10th Fairfax County company to crack Fortune magazine’s list of the 500 largest publicly traded companies in the United States. The 2012 list is in the May 21 edition of Fortune and is available online. Fairfax County has more companies on the prestigious list than 34 states. Fairfax also is in the top 10 counties with the most ranked headquarters. Fairfax EDA
Submitted 1 years 340 days ago

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No justification for latest SC tax-cut plans
BUDGET hawks warned that legislators would go on an irresponsible spending spree when economists said last week that they had another $290 million to spend next year. It turns out they were right. The Senate Finance Committee quickly used up $15 million to give an income tax cut to some small-business owners. Maybe they deserve to pay just 3 percent on their profits while large businesses and other small businesses pay 5 percent and wage-earners pay up to 7 percent; after all, small businesses are the backbone of our economy. But there hasn’t been any significant public debate about the need for that cut, which will grow to $65 million per year once it’s fully phased in, in 2014. The State
Submitted 1 years 340 days ago

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Tourism in Myrtle Beach, S.C. leads economic recovery
MYRTLE BEACH — A new Coastal Carolina University study has found tourism in the Myrtle Beach area led the recovery from the Great Recession, bouncing back faster than other areas of the economy along the state's Grand Strand. According to the study by university researcher Rob Salvino, tourism spending was about 95 percent of average visitor spending was between 2006 and 2008 in the fiscal year that ended last June. Real estate and construction spending were only about 70 percent of the earlier total. Spartanburg Herald-Journal
Submitted 1 years 340 days ago

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Honda Aircraft to begin HondaJet production ahead of schedule at NC Triad plant
GREENSBORO -- A Honda Aircraft official says the company will begin limited production of its $4.5 million HondaJet here this year, ahead of earlier published schedules. "Honda Aircraft is advancing toward certifying the HondaJet and delivering the aircraft to customers," said Michimasa Fujino, the company's president and chief executive. Deliveries of Honda's first light business jet still won't begin until the second half of next year, after the Federal Aviation Administration has fully certified the new plane. Winston-Salem Journal
Submitted 1 years 340 days ago

 

 

 

Features & Opinion

 Top Ten Places in the South for Relocating California Companies

Reshoring manufacturing capacity from primarily Asia to the South and Mexico is now a common thing to do and it's all about money. When China joined the World Trade Organization in 2001, the average manufacturing wage in China's Pearl River Delta (PRD) was about 58 cents an hour.

 Randle Report - Business News in the South

 FEATURE  
By Dr. Glen Fenter
Desperation sometimes masks itself in acceptance. Such was the case for Takelia Carter of Marion, Ark. For Carter, the mother of six school-age children in a low paying job, desperation was normative existence. This was her life in Crittenden County, Ark., deep in the Delta where unfortunately one in four families lives well below the poverty level.
 

 Business News in the South - Randle Report

FEATURE     
By Mike Randle
There are numerous factors driving the new industrial revolution in the South. And it is a revolution, as this manufacturing surge that began in 2007 continues to break records year after year in the total number of large, capital intensive projects. One factor, of course, is that reshoring of facilities back to the U.S. continues to grow each year.
 
 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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