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Yokohama chooses Georgia firm to build first phase of Mississippi plant
Officials from Yokohama Tire Company confirmed Thursday the selection of Atlanta, Ga.-based Kajima Associates/Architects & Engineers to design and build the first phase of its Clay County manufacturing plant location scheduled to begin operation in October 2015. Golden Triangle Development Link CEO Joe Max Higgins, whose economic development team played a lead role in luring the global tire manufacturer to the Golden Triangle, said Thursday the announcement marks the next step in the construction process. Columbus Dispatch
Submitted 2 years 15 days ago

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DuPont commits to 30 years at Mississippi's Port at Gulfport
GULFPORT, MISS. — DuPont has agreed to lease property from the state Port at Gulfport for another 30 years, with options to extend the agreement for up to 60 years. The Sun Herald reports the port plans an estimated $80 million in improvements to the seven acres on the southern tip of the West Pier. DuPont will repay $57 million of the construction cost over 10 years, with the port agreeing to pay $23 million. The port will own the new facilities, which will almost double DuPont's storage capacity. Clarion-Ledger
Submitted 2 years 15 days ago

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Report: Mississippi food stamp usage highest in nation
A recent interactive graphic published by the Wall Street Journal shows Mississippi as having the highest food stamp usage in the nation.According to the report, 20.8% of Mississippi's population is on food stamps. The graphic shows that 619,598 people in the state were on food stamps in April. Biloxi Sun-Herald
Submitted 2 years 15 days ago

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Little Rock Metro Sets Export Record in 2012
The Little Rock metro produces a record number of exports in 2012, according to data released Thursday by the U.S. Department of Commerce’s International Trade Administration. Merchandise exports from the Little Rock-North Little Rock-Conway metropolitan area totaled a record $2.4 billion, an increase of 171 percent or $1.5 billion from 2011 to 2012. The top merchandise export categories from the central Arkansas metro included transportation equipment, fabricated metal products, computer and electronic products, machinery and primary metal manufactures. The top trading partners came from the Middle East region and the European Union. Arkansas Business
Submitted 2 years 15 days ago

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Alabama Governor touts economic recovery
RED BAY — Robert Bentley was a practicing physician before becoming Alabama’s governor three years ago. So, perhaps it was only fitting that he made a house call Thursday to Franklin County’s westernmost town. The trip was part of Bentley’s Road to Economic Recovery Tour. The stop made him the first sitting governor in more than 20 years to visit Red Bay. “The Road to Economic Recovery Tour is about seeing different areas of the state and seeing how people are doing,” Bentley said, during a brief stop at the Red Bay City Hall. “I love to go to the cities and meet people. The people are who make these cities what they are.” Decatur Times-Daily
Submitted 2 years 15 days ago

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Huntsville ranks No. 3 on list of best places for Science, Technology, Engineering, Math graduates
HUNTSVILLE, Alabama -- Financial literacy and consumer advocacy site NerdWallet has named Huntsville as one of America's top 10 best metro areas for Science, Technology, Engineering and Mathematics (STEM) graduates. The Rocket City ranked No. 3 on a list with other major U.S. metro areas such as San Francisco, Washington, D.C., Arlington, Va., and Seattle. In Huntsville, about 20 percent of total jobs call for a STEM bachelor's degree or higher, while the average salary for a STEM job requiring a four-year degree or higher is $91,873, NerdWallet reports. al.com
Submitted 2 years 15 days ago

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Kentucky Gov. Steve Beshear Announces General Dynamics Corp. to Create 1,300 Jobs in London and Winchester
FRANKFORT, Ky. (July 12, 2013) – Governor Steve Beshear today announced General Dynamics Information Technology, a business unit of General Dynamics (NYSE: GD), plans to create up to 1,300 new jobs at facilities in London and Winchester and make significant investments at both facilities. “The Commonwealth has scored not one, but two major victories here, with 1,300 new jobs on the way to London and Winchester,” said Gov. Beshear. “General Dynamics is a global company with a tremendous array of products and services, which means a wealth of opportunities for its employees.” Kentucky Cabinet for Economic Development
Submitted 2 years 15 days ago

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Not everything is rosy: Atlanta-based UPS lowers 2013 profit forecast, cites slow economy
UPS cut its 2013 earnings forecast, saying a slowing U.S. economy hurt second-quarter profit and revenue. The stock dropped the most since 2011. Adjusted earnings fell to $1.13 a share in the second quarter, marking the first drop in more than three years and missing analysts’ estimate of $1.20. Profit for the year will increase as little as 3 percent, UPS said. UPS and FedEx, often viewed as economic bellwethers because they ship goods across the world, are working to counter a shift by their customers to less expensive shipping options as domestic growth is projected to slow from 2012. UPS Chief Financial Officer Kurt Kuehn said in the statement he expects market trends to persist. Louisville Courier-Journal
Submitted 2 years 15 days ago

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Gov. Pat McCrory says he has mingled among N.C. protesters
RALEIGH -- The Wilson Times reported this week that Gov. Pat McCrory said he has often entered the crowds that gather in the capital city to protest the Republican agenda and policies. He said he even got a good cussing by protesters. But in the age of mobile phone cameras and instant posting to social media, the governor seems to have moved in and out of the throngs without anyone capturing his interaction on video or film. Janet Conner-Knox, a reporter with the Wilson newspaper, met with McCrory on Wednesday while he was in town to praise Wells Fargo for expanding a loan program to farmers. Conner-Knox said on Thursday that she asked McCrory specifically about the Moral Monday demonstrations and whether he planned to ever talk with the protesters. His response, which she said she recorded, was: “I go out in the crowd all of the time. Frankly, yesterday I went out and talked to several of them and they were not very respectful. They did not represent the majority of those who call themselves ‘moral’ by cussing me out, but that’s the way things go sometimes.” Charlotte Observer
Submitted 2 years 15 days ago

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Peachy S.C. dominance
Georgia still calls itself the Peach State. But the Palmetto State remains the No. 1 peach-growing state in the South. According to the U.S. Department of Agriculture, South Carolina’s 75,000-ton total last year more than doubled No. 2 Georgia’s 33,300. And as Jade McDuffie reported in Thursday’s Post and Courier, despite a harshly cold March and heavy rains over the last month, our state of South Carolina peach-production superiority persists. South Carolina Peach Council executive director Amy Howard London gave this update in that story: “South Carolina is still leading 3-to-1 over Georgia.” Post and Courier
Submitted 2 years 15 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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