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That headline represents the first eight words to the song titled "Mexican Radio" by the band Wall of Voodoo. The big hit from 1982 (No. 58 U.S. and No. 18 Canada) that was played about a dozen times a day on MTV in the music video era is awesome. The song was popular with the creative class (before anyone knew what the creative class was until Richard Florida told us), is often heard today on some of the most listened-to Internet stations such as Radio Paradise. Go ahead and buy some Mexican Coke at Sam's (that would be Mexican Coca-Cola), sit back, bring up "Mexican Radio" on YouTube and enjoy.
Submitted 2 years 15 days ago

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We thought this Top 10 was timely after hearing about Texas Gov. Rick Perry's radio ad campaign in the winter quarter that targeted California companies. In the ad, which ran on stations throughout the Golden State, Perry says, "Building a business is tough, but I hear building a business in California is next to impossible." With that in mind, here are ten great locations in the South for relocating California companies.
Submitted 2 years 15 days ago

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That's The Randle Report for Friday, May 17, 2013
Join us again Monday morning for all of the American South's business, economic development and political news in real time and in one place. Use the sort buttons or the search window above to find your favorite stories from yesterday, last week, last month or last year. Also, click on the Sports tab above for all of the South's sports news in real time. Click on the headline to access Southern Business & Development magazine.
Submitted 2 years 16 days ago

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So, you think incentives are bad business for states? Read this:
In the more than 20 years this magazine has been in print, we have responded to numerous articles surrounding the incentives debate. In fact, we have written about the "debate" so many times that we started to add to the titles, such as "Incentives Debate: Part II, III, IV," etc. Well, I hope this is the final "incentives debate" article I write because the last one in the Summer of 2007 was titled, "The Incentives Debate, Part IV: STOP IT, STOP IT, STOP IT! There is no debate!" Either I had a stroke while writing or what someone else had written that quarter hit my last nerve. Speaking of: Recently, The New York Times came out with a widely read story about corporate and industrial incentives titled, "As Companies Seek Tax Deals, Governments Pay High Price." The piece, in short, was condescending -- specifically to the South -- pompous, deprecating, certain, yet so misinformed. Southern Business & Development
Submitted 2 years 16 days ago

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Nissan's $1.3B in subsidies costly for Mississippi, report says
(AP) A Washington, D.C. nonprofit that tracks public money put toward economic development projects says Nissan hasn’t created enough quality full-time jobs at the automaker’s Canton plant to justify $1.3 billion in state and local tax breaks and incentives the company has been awarded since 2000. Good Jobs First released a report Friday outlining its claims, saying hundreds of millions in tax breaks and credits in particular are depriving Mississippi of revenue it needs and that the automaker is relying on temporary help to fill many of its new job openings. The nonprofit was joined by the Mississippi Alliance for Fairness at Nissan, which renewed its calls for a union vote at the plant. The Mississippi Development Authority says the company is meeting all its obligations to the state. The facility has operated for 10 years and currently employs about 5,200 people. Clarion-Ledger
Submitted 2 years 16 days ago

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UAW study chides Nissan for tax breaks at Miss. plant
NASHVILLE -- A research study commissioned by UAW labor organizers claims that Nissan Motor Co. could receive four times the previously reported level of state and local incentives and tax breaks to operate its assembly plant in Canton, Miss. According to the study by the Washington-based Good Jobs First research firm, Nissan may receive an estimated $1.33 billion in special state and local incentives over the first 30 years of the plant's operation. When the $900 million plant project was announced in 2000, Mississippi officials estimated the initial value of the state's incentive package to Nissan at $295 million. The union said today its new estimate adds $400 million in job tax credits that Nissan is due to receive over 20 years for its employees, and those of suppliers, who operate on the Nissan plant site, and another $160 million in Advantage Jobs subsidies that Nissan can receive as annual rebates from its employees' state withholding taxes. Automotive News. For more information on the South's automotive industry, go to www.SouthernAutoCorridor.com.
Submitted 2 years 16 days ago

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"I feel a hot wind on my shoulder"
That headline represents the first eight words to the song titled "Mexican Radio" by the band Wall of Voodoo. The big hit from 1982 (No. 58 U.S. and No. 18 Canada) that was played about a dozen times a day on MTV in the music video era is awesome. The song was popular with the creative class (before anyone knew what the creative class was until Richard Florida told us), is often heard today on some of the most listened-to Internet stations such as Radio Paradise. Go ahead and buy some Mexican Coke at Sam's (that would be Mexican Coca-Cola), sit back, bring up "Mexican Radio" on YouTube and enjoy. I do "feel a hot wind on my shoulder" and it's coming in the form of competition from Mexico. The South hasn't placed second to any region or country in North America in the economic development game in three decades. Yet, in lap two of a 10-lap reshoring race, the South is looking at Mexico's backside and eating dust. Raise your hand if you've lost a deal to Mexico in the last two years. Okay, now put them down and let's figure out a way to fight back hard. Before we do that, let's try and understand our new, old competitor again. Southern Business & Development
Submitted 2 years 16 days ago

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U.S. to Match China in Manufacturing Attractiveness by 2015
According to a recent survey from AlixPartners, the United States and Mexico are now considered equally attractive options for U.S.-based companies to situate production meant for the North American market. Thirty-seven percent of the 137 respondents would choose the U.S. as their preferred nearshoring location. An equal percentage would choose Mexico. The improvement in the U.S.’s attractiveness has been rapid: In 2011, 63 percent of manufacturers said they would locate nearshoring operations in Mexico and only 19 percent said they would choose the U.S. In 2012, those numbers had shifted dramatically, with 49 percent preferring Mexico and 36 percent the U.S. About half the companies responding to the 2013 survey had annual revenues of $1 billion or more, and all of the respondents sourced production across multiple continents. Thomasnet.com
Submitted 2 years 16 days ago

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Texas joins other Gulf states in suing BP for environmental damage due to 2010 oil spill
Texas on Friday joined other Gulf Coast states suing BP for environmental damage caused by the 2010 oil spill. Texas’ suit seeks natural resources damages, economic damages and civil penalties. Louisiana and Alabama sued initially, while Florida and Mississippi sued last month around the three-year anniversary of the disaster. Texas officials said in a statement their filing “follows years of work with Texas’ sister Gulf states and the federal government, as well as BP, to resolve damages associated with harm caused to the Gulf.” Texas said it filed the suit in federal court in Beaumont to preserve its claims because “the parties to date have been unable to fully resolve claims.” The state expects its case to be consolidated with the case already underway in federal court in New Orleans. Houston Chronicle
Submitted 2 years 16 days ago

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Montgomery almost landed $300M tire plant
Montgomery nearly won a months-long race for a $300 million tire plant before Mississippi wooed the plant away with a massive incentives package, city officials revealed Wednesday. Yokohama Tire Corp. announced last month that it will build a plant in West Point, Miss. The plant will manufacture heavy equipment and truck tires and plans to hire 500 people initially and at least 2,000 workers after three additional expansion phases. Montgomery officials said West Point and Alabama’s capital city were the two survivors of a hotly competitive site selection process that started with 3,000 counties. The Clarion-Ledger reported April 26 that Mississippi lawmakers approved $130 million in incentives as well as a 25-year exemption on income taxes with a “fee in lieu.” About $12 million of that money came from local funds. Montgomery Advertiser
Submitted 2 years 16 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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