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Austin skates to the top in bid for X Games
It’s been an extreme few weeks for the team at Nashville’s Rockhouse Partners. They got big news last week when it was announced that Austin will host ESPN’s Summer X Games for the next four years. That’s because Rockhouse was the agency behind the digital efforts that helped the Texas city land the event, which is estimated to have an estimated economic impact of $50 million per year. Rockhouse’s experience was beneficial for the company, but it also offers lessons for cities such as Nashville as well if they are going to try to compete to host large-scale events such as the X Games. Rockhouse got the inside track to help with the campaign because it already counted the new F-1 racing track in Austin and the Austin360 Amphitheater among its clients. The Tennessean
Submitted 2 years 13 days ago

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Realtors sell Nashville's amenities to relocating buyers
As Nashville attracts a growing number of new residents moving from other states, Realtors are providing services far beyond buying and selling houses. When Katie and Ben Dehner moved from Cincinnati, they relied on Zeitlin & Co. Realtor Jessica Averbuch to help them find the right house. While the Dehners were still in Ohio planning their move, they counted on Averbuch to oversee renovations at their new home. “She would open the house for the workers and stay while they were there,” Katie Dehner said. Now that the Dehners are swapping neighborhoods and moving from Bellevue to the West End area, they are relying on Averbuch’s services again. The Tennessean
Submitted 2 years 13 days ago

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Nucor’s La. plant near completion
Nucor Corp. is close to completing its 2.5 million-ton direct reduced iron plant in St. James Parish, which is set to begin operations late in the third quarter. The construction update was part of the company’s second-quarter earnings report. The company earned $85.1 million, or 27 cents per share, down from $112.3 million, or 35 cents per share, a year ago. Heavy rains in the first two months of the year delayed the $750 million project. Nucor had originally planned for the plant to be running by now. The reduced iron plant is the first of several phases in a planned $3.4 billion steel complex that would employ 1,250 people and produce millions of tons of steel each year. The Advocate
Submitted 2 years 13 days ago

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Mississippi jobless rate dips as payrolls keep climbing
JACKSON, Mississippi — Mississippi's unemployment rate dropped slightly to 9 percent in June, as fewer people looked for work. A separate survey showed employer payrolls continue to grow in the state. The figures were released Thursday by the federal Bureau of Labor Statistics. Mississippi's seasonally adjusted unemployment rate was 9.1 percent in May and 9.2 percent in June 2012. An 8,000-person decrease in the labor force was the main factor for the June drop in Mississippi's jobless rate. The state retained the third-highest jobless rate nationwide, behind Nevada at 9.6 percent and Illinois at 9.2 percent. North Dakota retained the lowest unemployment rate at 3.1 percent. The national unemployment rate held steady from May to June at 7.6 percent, but was below the 8.2 percent rate of June 2012. Mississippi Press
Submitted 2 years 13 days ago

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Greenwood electric tool plant expanding in Mississippi
GREENWOOD, MISS. — (AP) The Milwaukee Electric Tool Corp. plant in Greenwood is undergoing a $15 million expansion and reorganization that will double the factory's manufacturing capacity. The Greenwood Commonwealth reports that company engineer Terry Jensen told a civil club this past week that the plant presently splits its operations between assembling power tools and manufacturing saw blades. Jensen says the assembly operation will shift to Milwaukee Tool's plant in Jackson. Jensen says the Greenwood plant will focus on making saw blades, doubling its capacity from three assembly lines to six. Milwaukee Tool employs about 400 people in Greenwood. Clarion-Ledger
Submitted 2 years 13 days ago

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Resilient Grand Isle, La., frets over its future as population falls, insurance costs rise
For a spit of land sandwiched between Barataria Bay and the Gulf of Mexico, one that in the past eight years has endured five hurricanes and the worst oil disaster in United States history, Grand Isle bears few obvious scars. Recreational fishers crowd piers and bridges to cast their lines. New vacation homes, or "camps,'' are under construction, some priced between $500,000 and $1 million. Restaurants such as the Starfish serve up piles of piping hot shrimp and fish to hungry tourists, between their visits to the marinas, the beach and the grocery store. Times-Picayune
Submitted 2 years 13 days ago

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Rural Alabama site that saved jobs after tornadoes will create jobs with new owner
BIRMINGHAM, Alabama – HessAire Products plans to create more than 100 jobs in a Holly Pond building that recently helped save hundreds of jobs by housing a factory forced to relocate due to a deadly tornado. HessAire has purchased the office and warehouse property in Holly Pond with plans to create more than 100 jobs over the next three years as it expands its fan blade business, adds a new product line and even brings production from China to the small Alabama town. al.com
Submitted 2 years 13 days ago

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Made in NC: Soft, comfy sofas? North Carolina still makes them
CONOVER Almost a century ago, H.D. Fry Sr. was a farmer, a justice of the peace and a small-time furniture maker who built piano stools and parlor chairs in his barn. When the railroad came through Catawba County, according to family lore, Fry saw his chance to create a furniture company that could ship upholstered chairs and sofas all over the country. Hickory-Fry Furniture, which opened in the 1920s, grew to employ 200 workers, according to Fry’s grandchildren, Cathy and Dee Fry. The siblings are still in the furniture business, hanging on in an industry that has seen many factories close. Since 1990, North Carolina has lost more than 60,000 furniture-making jobs, mainly because many companies moved their operations overseas where they face fewer regulations and can pay workers lower wages. Charlotte Observer
Submitted 2 years 13 days ago

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Historic N.C. budget up for vote
Legislators are set to vote on a historic $20.6 billion budget this week that would have the state take a giant step toward further privatization of education, end teacher tenure, and compensate victims of the government eugenics program. Teacher assistants take a hit in the budget released Sunday, which reduces state spending on them by $120 million, or about 21 percent. The budget ends funding for the embattled Rural Economic Development Center, whose longtime president, Billy Ray Hall, resigned under pressure last week. The budget creates a division focused on rural economic development within the state Department of Commerce. Charlotte Observer
Submitted 2 years 13 days ago

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Georgia becoming Southern Hollywood
ATLANTA — Georgia officials demonstrated how welcoming they are of motion-picture production companies this week by opening up the state Capitol to them. All week, government staffers tiptoed over cables and ducked under lights to get to their offices during filming of the feature movie “Kill the Messenger” starring Jeremy Renner, who played Hawkeye in “The Avengers.” Renner plays Gary Webb, a real, Pulitzer-winning reporter who becomes tangled in a smear campaign after alleging the Central Intelligence Agency was selling drugs to poor Americans as a way to get funds to Central American revolutionaries despite a congressional prohibition. The movie is set to be released in 2014, a decade after Webb died of two gunshot wounds to the head, which was ruled a suicide. Following behind California and New York, Georgia has made its way in the Hollywood circle. With versatility from the Blue Ridge Mountains to the coastline in Savannah, filming and production have become a $3.1 billion industry here. Athens Banner-Herald
Submitted 2 years 13 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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