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Weyerhaeuser Co. reopening Alabama plant, hiring 100
Weyerhaeuser Co. announced Friday morning it will restart production immediately at its long-idled Castleberry, Ala., lumber plant and hire as many as 100 people by the close of 2014. “We are thrilled to welcome Weyerhaeuser back to Conecuh County. Weyerhaeuser is an excellent company and bringing this plant back online will have an extraordinarily positive impact on the entire region,” said Coastal Gateway Regional Economic Development Alliance Chairman Larry Woods. AL.com
Submitted 2 years 10 days ago

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ThyssenKrupp courting hedge funds?
ThyssenKrupp has turned its attention to hedge funds in hopes of averting loan covenant breaches, Reuters reports. The talks, which anonymous sources told Reuters are in an advanced stage, are an attempt by Germany's largest steelmaker to raise capital as it shifts focus to technology and struggles to sell its unprofitable Steel Americas business, consisting of mills in both Brazil and Calvert, Ala, ThyssenKrupp produces carbon steel slabs in Rio de Janeiro at its Cia Siderurgica do Atlantico mill that it ships to Alabama for finishing in Calvert. The twin plants cost about $15.5 billion to build in 2007, and were intended to give the company a foothold in the Americas. ThyssenKrupp has since shifted investments to higher-margin products and services such as elevators, submarines and parts for manufacturing plants. AL.com
Submitted 2 years 10 days ago

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Jack Daniel Distillery to undergo $100M expansion, add 90 jobs to meet demand


Submitted 2 years 10 days ago

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Three years in the making, Southwest Louisiana's SEED partnership open for business
The Southwest Louisiana Entrepreneurial and Economic Development Center, three years in the making, opened its doors Friday. The SEED Center, built on eight acres of land across from McNeese, is designed to foster businesses and entrepreneurs and aid economic development in the five-parish area. “This is truly a dream come true and a vision I’ve shared with this community for many, many years,” said U.S. Sen. Mary Landrieu, who attended the ribbon-cutting event. “I really try to focus in on the things that I can do to push resources to the areas that need it the most.” Gov. Bobby Jindal, who was also present, said the facility will help the region “build on this great momentum that we’ve seen not just in Southwest Louisiana but across the entire state.” Lake Charles American Press
Submitted 2 years 10 days ago

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Two more Kia suppliers could come to Georgia
Georgia’s recruitment of automaker Kia continues to pay dividends as two suppliers to the company are planning new facilities in the state that could bring hundreds of jobs, a Kia executive said Friday. AJC.com
Submitted 2 years 10 days ago

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Maryville, Tennessee gets Surface Igniter, LLC $3.8M Investment, 108 new jobs
Tennessee Gov. Bill Haslam along with Economic and Community Development Commissioner Bill Hagerty, joined Surface Igniter, LLC officials at a joint press conference announcing the company will make a $3.8 million investment in Maryville, Tennessee. The company will relocate its headquarters and manufacturing facility to Maryville. With the investment and relocation actions, Surface Igniter, LLC will create 108 new jobs over the next three years in Blount County. BusinessClarksville.com
Submitted 2 years 10 days ago

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Baby Mercedes: Name for newborn girls surged in Alabama following automaker's decision to build plant here
Mercedes-Benz often gets credit for birthing Alabama's auto industry, since it built the first auto assembly plant in the state and other automakers followed suit. As it turns out, the German company may have played a role in a few other births, too: Mercedes peaked as a name for newborn girls in Alabama the year following its decision to build the plant in Tuscaloosa County. AL.com
Submitted 2 years 10 days ago

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Energy industry eager to attract more skilled trades workers
With all the new projects planned along the Gulf Coast, the energy industry predicts it will need 500,000 new workers between now and 2020. The industry is trying to attract and train skilled workers including electricians, pipefitters and welders. Toward that end, the president and CEO of the American Petroleum Institute toured the apprenticeship training program of the Pipefitters Local Union 211 in Houston on Wednesday. FuelFix.com
Submitted 2 years 10 days ago

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Gingrich Will Be Back in the ‘Crossfire’ on CNN
ARLINGTON, Va. — In defeat, the 2012 Republican presidential hopefuls have mostly faded from view, in ways that seem true to type. Mitt Romney is a contented grandfather. Rick Santorum leads a Christian movie company. Michele Bachmann is retiring from the House, although her pants-on-fire oratory is likely to find a new home. And what of the 2012 contender with a slashing debate style, who prolonged his primary run seemingly to remain in the media spotlight? NYtimes.com
Submitted 2 years 10 days ago

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Jack Daniel Distillery to undergo $100M expansion, add 90 jobs to meet demand
LYNCHBURG, TENN. — Mr. Jack’s legacy is growing globally, forcing the iconic Tennessee whiskey maker to expand its stills and warehouses in order to meet demand for its charcoal-mellowed products worldwide. As a result, parent Brown-Forman Corp. will spend more than $100 million to increase production and storage capacity at its Jack Daniel Distillery, so that “every drop of Jack Daniel’s will continue to be made in Lynchburg,” master distiller Jeff Arnett said Thursday. Tennessean.com
Submitted 2 years 10 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     
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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