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Georgia's ports tally tens of thousands of jobs, big economic impact
Georgia’s ports directly support 153,884 jobs statewide -- an addition of 25,000 jobs since 2009 -- according to a University of Georgia report released Thursday. The public ports at Savannah and Brunswick, along with neighboring private port facilities, also account for $39.2 billion in statewide economic impact, or direct spending, the study prepared by UGA’s Terry College of Business says. Three years earlier, when the last ports study was done, the economic impact was pegged at $36.5 billion. “The outstanding performance of Georgia’s deep water ports, relative to other American ports, reflects strong competitive advantages,” wrote UGA economist Jeffrey Humphreys. “These advantages are largely the result of strategic investments in port facilities by the state of Georgia over many years.” Atlanta Journal-Constitution
Submitted 1 years 340 days ago

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Kentucky lawmakers say agreement keeps Paducah uranium plant open for another year, saves 1,200 jobs
WASHINGTON — An agreement to process depleted uranium at the Paducah Gaseous Diffusion Plant will keep the sprawling facility open for another year and preserve 1,200 jobs, Kentucky lawmakers and federal energy officials announced Tuesday. A series of arrangements involving the federal government and energy suppliers will provide a market for the uranium, Energy Secretary Steven Chu said in a statement. The Paducah plant was scheduled to close at the end of this month. The deal marks a reversal in the Obama administration’s reluctance to keep the Paducah plant running. The agreement also is a victory for Republican lawmakers Mitch McConnell, the Senate GOP leader; Sen. Rand Paul; and Rep. Ed Whitfield; all of whom appeared to be fighting long odds just months ago. Louiville Courier-Journal
Submitted 1 years 340 days ago

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TN Gov. Bill Haslam signs cash grants plan
NASHVILLE, Tenn. (AP) -- Gov. Bill Haslam has signed a measure to increase the amount of cash grants available to companies looking to invest in Tennessee. The administration legislation will allow the state to provide Fast Track grants for retrofitting, relocation, office upgrades or temporary space for companies investing in Tennessee. The measure passed the Senate 29-1 last month and the House concurred with that version 92-0 the next day. The current Fast Track program is limited to jobs training and infrastructure improvements. Knoxville News-Sentinel
Submitted 1 years 340 days ago

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Tennessee's unemployment rate fell to 7.8 percent in April
Tennessee's unemployment rate was 7.8 percent in April, down one-tenth of a percentage point from the March rate of 7.9 percent. It was the ninth straight monthly decrease in the widely-watched measure of unemployment, and compared favorably to the national unemployment rate of 8.1 percent. The decrease, however, was largely attributable to a shrinking labor force, said Karla Davis, state commissioner of Labor & Workforce Development. Memphis Commercial Appeal
Submitted 1 years 340 days ago

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North Carolina poll: More blacks for gay marriage
President Barack Obama’s endorsement last week of gay marriage appears to have boosted black North Carolinians’ support for the issue, according to a poll released Thursday. A Public Policy Polling survey found that 27 percent of black voters believe same-sex marriage should be legal, up from 20 percent in a poll conducted on May 6, three days before Obama announced his support. And 59 percent say they are opposed to gay marriage, down from 63 percent in the previous poll, which was taken before the North Carolina primary. Politico
Submitted 1 years 340 days ago

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Messina dismisses doubts about Obama chances of winning North Carolina
CHICAGO — President Obama’s campaign manager dismissed suggestions that it was a mistake for Democrats to hold their national convention in North Carolina, saying he has “zero” regrets about the decision. In a wide-ranging interview with The Hill on Wednesday, Jim Messina insisted the president can win North Carolina despite low approval ratings there and recent polls that have indicated his support in the state is waning. The Hill
Submitted 1 years 340 days ago

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Economy still shows signs of recovery
WASHINGTON — (AP) Maybe the U.S. economy’s strength this winter wasn’t just weather-related after all. Home construction is near a three-year high. And factory output has risen in three of the year’s first four months. The data suggest growth in the April-June quarter is off to a good start, helped by falling gas prices and solid hiring gains. “It’s all very encouraging,” said Paul Ashworth, chief U.S. economist at Capital Economics. “Things look good at the moment.” Montgomery Advertiser
Submitted 1 years 340 days ago

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ThyssenKrupp announcement no threat to Mobile plant, state leader says
MOBILE, Alabama -- ThyssenKrupp AG's announcement that it will consider selling its north Mobile County steel plant is no threat to the jobs and operation there, a state economic leader said today. Alabama Department of Commerce Secretary Greg Canfield said in a statement that he spoke with company officials, and "in our conversations, it is clear that the $5 billion investment which ThyssenKrupp made in Alabama will continue to hold a leading position in the market in terms of technology and product quality." Mobile Press-Register
Submitted 1 years 340 days ago

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Thank God An American Recovery
There are unmistakable signs that the U.S. ­economy is recovering from recession, and I strongly believe it will be ­charging ahead by the end of the year. This is a natural recovery, not one produced by government intervention. A large capitalist economy operating in a free country has an inherent propensity to work its way out of a recession, provided the people in charge of the country don’t do anything particularly foolish to prevent it. Forbes
Submitted 1 years 340 days ago

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The South's Best Economic Development Law Firms
If your company is undergoing a site search in the American South, this digital magazine of the South's best economic development law firms is a valuable asset. Southern Business & Development magazine recently conducted a survey of the region's economic development community and the results of the survey can be found in this digital magazine. Find out which law firms are considered the best in the practice of economic development. Click on the headline above. SB&D
Submitted 1 years 340 days ago

 

 

 

Features & Opinion

 Top Ten Places in the South for Relocating California Companies

Reshoring manufacturing capacity from primarily Asia to the South and Mexico is now a common thing to do and it's all about money. When China joined the World Trade Organization in 2001, the average manufacturing wage in China's Pearl River Delta (PRD) was about 58 cents an hour.

 Randle Report - Business News in the South

 FEATURE  
By Dr. Glen Fenter
Desperation sometimes masks itself in acceptance. Such was the case for Takelia Carter of Marion, Ark. For Carter, the mother of six school-age children in a low paying job, desperation was normative existence. This was her life in Crittenden County, Ark., deep in the Delta where unfortunately one in four families lives well below the poverty level.
 

 Business News in the South - Randle Report

FEATURE     
By Mike Randle
There are numerous factors driving the new industrial revolution in the South. And it is a revolution, as this manufacturing surge that began in 2007 continues to break records year after year in the total number of large, capital intensive projects. One factor, of course, is that reshoring of facilities back to the U.S. continues to grow each year.
 
 Nashville Mayour Karl Dean

We try to change up the categories in our annual Ten Top 10s section, but we always include the "Ten People Who Made a Difference" category. This year though, we are honoring 12 and you will learn why by reading about this group of folks who have made a difference in the South. Here is our annual list that includes executives, economic developers and politicians who have made a difference in the South's economy.


 


 

 

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