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Governments Offer Amazon Millions in Tax Breaks it Doesn't Need
When Amazon expands, like it wants to in Florida, state and local governments practically line up to offer to pay the company to move. Virginia officials approved $4.4 million in taxpayer subsidies so Amazon could build two warehouses in the state. California reached a deal where the online company was free from sales taxes for a year, saving about $200 million. Texas officials forgave $269 million in back sales taxes to get a new warehouse. New Jersey officials put up millions more in breaks. Governing.com
Submitted 2 years 15 days ago

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Offshore oil company moving headquarters to Houston
EPL Oil & Gas Inc. (NYSE: EPL) is moving its headquarters from New Orleans to Houston to capitalize on the city’s oil and gas resources. Houston Business Journal
Submitted 2 years 15 days ago

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Florida alone, not any tax break, could lure Amazon to Hillsborough
TALLAHASSEE — When Amazon expands, as it wants to in Florida, state and local governments practically line up to offer to pay the company to move. Virginia officials approved $4.4 million in taxpayer subsidies so Amazon could build two warehouses in the state. California reached a deal where the online company was free from sales taxes for a year, saving about $200 million. Texas officials forgave $269 million in back sales taxes to get a new warehouse. New Jersey officials put up millions more in breaks. Tampa Bay Times
Submitted 2 years 15 days ago

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Editorial: Sweet deal, but not for consumers
Americans who cannot afford to eat can take some comfort in the farm bill approved by the U.S. Senate, which cut food stamps by a manageable $4 billion over the next 10 years. The House, which is expected to vote on its version of the legislation this week, wants to cut food stamps by five times that amount. But the real winner (again) is America's sugar industry, which in this age of austerity still manages to retain its bloated public handouts from import quotas and price supports. Tampa Bay Times
Submitted 2 years 15 days ago

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Mortgage applications tumble as rates rise further: MBA
Interest rates on home mortgages rose last week to hit their highest level in over a year, sapping demand from potential homeowners, data from an industry group showed on Wednesday. Chicago Tribune
Submitted 2 years 15 days ago

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Banks not following mortgage standards
Four of the nation's leading mortgage servicers have not complied fully with new standards for handling home loans and must correct those problems or face fines up to $5 million for each continuing failure, the federal government said Wednesday. USA Today
Submitted 2 years 15 days ago

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Kane plans $82M, 18-story office tower for Raleigh’s North Hills
RALEIGH — Kane Realty plans to being construction of an 18-story office tower at North Hills in December. The $82 million project, to be built on Six Forks Road between the CapTrust Tower and the First Citizens Bank building, will include 300,000 square feet of space and is expected to open in the fall of 2015. News Observer
Submitted 2 years 15 days ago

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New Orleans airport bucks air travel industry's recent declines
Despite the beating the air travel industry has suffered since the worldwide economic downturn began five years ago, one mid-sized airport appears to be bucking that trend. Between 2007 and 2012, Louis Armstrong International Airport has enjoyed small but significant increases in both departing flights and the number of passengers climbing aboard jets. Times-Picayune
Submitted 2 years 15 days ago

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Georgia Ports Renew Liberia Agreement
Boasting partnerships with the Panama Canal Authority and the Chinese agency that operates the world's busiest seaport in Shanghai, the Georgia Ports Authority doesn't cooperate with just anyone. globalatlanta.com
Submitted 2 years 15 days ago

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UTEP to build $23M student-housing complex
Crews will break ground this month for a new student-housing complex at the University of Texas at El Paso. The $23-million project is to be built on Sun Bowl Drive, near the Helen of Troy Softball Complex. elpasoinc.com
Submitted 2 years 15 days ago

 

 

 

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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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