Bookmark and Share Business News in the South from The Randle Report

 

Sign up for Randle Report Daily Emails for all The South's Business and Political News Follow Randle Report on Facebook for Business News in the South Follow Randle Report on Twitter for all The South's Business and Political News

 

 
9
Likes

Duke Energy Florida plans to scrap coal power plants, switch to natural gas
Continuing a series of major changes, Duke Energy Florida said it plans to build a $1.5 billion natural-gas power plant in Citrus County while also shutting down two old coal-fired generating units. Duke, the state’s second-largest electric utility, indicated last year that it was likely to move forward with such a plan. But the announcement this week comes after other high-profile changes that have included shuttering a damaged Crystal River nuclear plant and scrapping plans to build two nuclear reactors in Levy County. Florida Times-Union
Submitted 1 years 349 days ago

3
Likes

Lockheed Martin, Boeing threatened by SpaceX fued
Elon Musk may not break up what he has called a space launch monopoly, but he may well disrupt it. Musk is the famed CEO of California-based Space Exploration Technologies Corp. His company is protesting the government's sole source purchase of 36 rockets for space launches from United Launch Alliance. On the heels of his briefly successful lawsuit against the Air Force for that bulk contract comes this. Musk's argument that the joint venture of Lockheed Martin and Boeing gets it rocket engines from a Russian supplier and therefore may violate some sanctions has generated a reaction he may not have expected. Washington Business Journal
Submitted 1 years 349 days ago

12
Likes

Kentucky bourbon Is Really Popular and Good for the Economy. Does Congress Deserve Some Credit?
It's been 50 years since Congress passed the Declaration of Independence for bourbon. That's what folks in Kentucky call Senate Concurrent Resolution 19. It was passed on May 4, 1964, and acknowledged bourbon as a "distinctive product of the U.S," and also set the standards for bourbon production. In the 50 years that have followed, bourbon has become a whiskey booming in popularity, soaring in price, and exported to over 100 nations around the world. So, naturally, Congress wants to acknowledge—and get in on—its popularity. On Thursday, the Senate passed a Kentucky-senators-backed resolution commemorating the anniversary. The House has its own resolution doing the same. It's hard to look past what's happened to the bourbon industry in recent years. Since 1999, bourbon production has increased 120 percent and now generates $2 billion in product and provides 9,000 jobs in Kentucky, according to the House resolution. The National Journal
Submitted 1 years 349 days ago

0
Likes

Virginia's Region 2000 names CEO
Virginia’s Region 2000 has tapped Altavista’s economic development director to become its CEO. Megan Lucas will start the new role in June. The Lynchburg-area business and economic development alliance recently restructured. The reorganization has led to an increased emphasis on economic development marketing of the region and a greater role of technology stakeholders on the alliance board. Region 2000 serves Lynchburg; the towns of Altavista, Amherst, Appomattox, and Bedford and the counties of Amherst, Appomattox, Campbell and Bedford. Virginia Business
Submitted 1 years 349 days ago

2
Likes

Cargo volume leads to big April for Virginia port
Surging cargo volume in Hampton Roads made April the third-best month in the port's history, the Virginia Port Authority said Wednesday. The port moved 201,390 standard 20-foot containers, or TEUs, up 12.3 percent from 179,370 in the same month a year ago. The results translated to an operating profit of $468,000, which followed a $150,000 profit in March. Those back-to-back gains followed seven straight months of losses. "Overall, we are encouraged by the direction and what we are seeing," said John Reinhart, the authority's CEO and executive director, in a statement. "There is a lot of hard work ahead of us and our team is gaining traction and momentum." Virginian-Pilot
Submitted 1 years 349 days ago

2
Likes

Richmond economy improves, but still faces headwinds
The Richmond region economy continues to make solid progress in recovering from the recession. But the area still has a lot of ground to make up, Gary D. Keith, the regional economist for M&T Bank, said during an economic outlook event here Wednesday. “More income is being generated from health care (jobs), but the loss of industrial paychecks still resonates in the (local) economy,” said Keith, the keynote speaker at the event presented by M&T Bank. Richmond Times-Dispatch
Submitted 1 years 349 days ago

2
Likes

Faneuil expands into Hampton's Peninsula Town Center with up to 400 call center jobs
HAMPTON—A customer care services center that focuses on government and commercial clients will open a multi-channel contact center in Peninsula Town Center, expanding the company's footprint in its hometown. Faneuil Inc. plans to open a 22,250-square-foot facility in the Claiborne Building that will include as many as 400 customer service jobs. “Hampton has been Faneuil’s home for more than seven years, so we’re especially pleased to be able to expand our footprint here,” said Anna Van Buren, Faneuil’s president and chief executive officer, in a news release. “The diversity and wealth of talent represented in the Greater Peninsula area were the deciding factors in our selection of Hampton as the location for this new facility.” Daily Press
Submitted 1 years 349 days ago

0
Likes

Kemira announces $13.9M investment at Aberdeen location
Officials from Helsinki, Findland-based chemical company Kemira announced today that the company is expanding its dry polymer manufacturing operations in Aberdeen. Kemira bought 3F Chimica of Italy last year for $111 million, and the deal included two Italian sites and the Aberdeen site. The company makes chemical additives for industries spanning wastewater treatment to oil drilling. The expansion project announced today represents a corporate investment of $13.9 million and will create six direct jobs. Northeast Mississippi Daily Journal
Submitted 1 years 349 days ago

-3
Likes

A 'somber' day: Chiquita leaving Gulfport after 40 years
GULFPORT -- After 40 years, Chiquita Brands International is leaving the state port for the Port of New Orleans. Chiquita and Louisiana Gov. Bobby Jindal announced the move in New Orleans on Wednesday, around the same time the state port director in Gulfport, Jonathan Daniels, received word from the company in a telephone conference. Daniels said afterward that it was a "somber day" for the state port, but he expects to announce a major new tenant Monday that will create more jobs than the port is losing with Chiquita. He does expect a lag between Chiquita's departure in the fourth quarter of 2014 and the availability of new jobs. Also, it is unclear how many of the jobs will be union jobs. Biloxi Sun-Herald
Submitted 1 years 349 days ago

9
Likes

Banana giant Chiquita returning shipping operations to Port of New Orleans after four decades away
Banana giant Chiquita Brands International Inc. will return its shipping operations to the Port of New Orleans after relocating to the Mississippi coast four decades ago, the company announced Wednesday. Chiquita, once known as United Brands, operated in the city for seven decades before relocating in the 1970s to the Port of Gulfport. The produce giant will now ship between 60,000 and 78,000 twenty-foot-equivalent units every year through the Port of New Orleans, officials said. Half of the shipments will be banana and fresh fruit imports, while the other half will be outbound cargo, the company said. The first shipments are expected to begin within the first quarter of 2015. Times-Picayune
Submitted 1 years 349 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 Mike Randle
The belief that "80 percent of all new jobs come from existing business and industry" is an out-of-date, old-fashioned fabrication. I have no idea how it started, where it started, or who said it first, but there are professionals in economic development as well as leaders of government in the South who actually believe that each year, 80 percent (why 80 percent I don't know, either) of all new jobs are created by existing business and industry. I hear it all the time and I just roll my eyes. There is nothing static in economic development but this: 100 percent of all lost jobs come from existing business and industry. That, and of course 100 percent of the time site consultants never pay for a meal.
 

 Business News in the South - Randle Report

FEATURE     
According to Chinese theory, yin is a passive, negative force and yang is an active, positive force. Chinese philosophers believe that the opposing forces aren't really contradictory. Instead, they are interconnected and complimentary, interacting to create a balance in one's life. 
 
 Nashville Mayour Karl Dean
The Annie E. Casey Foundation's KIDS COUNT report was released in the summer quarter. I try to read it every time it comes out since I find it to be the best indicator of child poverty, a statistic everyone involved in economic development needs to be aware of. The Annie E. Casey Foundation is a charity that supports disadvantaged children. 
 


 

 

 http://www.allianceswla.org
Southern Business & Development Southern Auto Corridor Small Town South Randle Report

Copyright ©2016 Randle Report
All of the South's Business and Political News in One Place
Login