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Caterpillar’s new Georgia digs to add jobs
Caterpillar’s new manufacturing plant near Bogart and Athens was open Monday for media tours. The plant is one of the biggest economic development projects in the state in recent years. Nearly one year after breaking ground, Caterpillar Inc. has begun moving into the 850,000-square-foot facility. The current 55 employees, with 32 hired from Georgia, are the first of an expected workforce of 1,400. Atlanta Journal Constitution
Submitted 2 years 19 days ago

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Davidson approves incentives for company seeking to create 250 jobs
Davidson County commissioners have approved a $2 million incentive package for a manufacturing and logistics company that is considering investing $24 million in a new plant and equipment in the county, according to several media outlets. The expansion would create 250 jobs over three years, Greater Triad Business Journal
Submitted 2 years 19 days ago

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Report: NC spends $1.3B on economic development annually
Raleigh, N.C. — North Carolina spent more than $1.3 billion on economic development in fiscal year 2012, according to a report by the legislature's Fiscal Research Division. The report details all the ways in which North Carolina prods industry to grow and spend in the state. The bulk of the economic development spending, $1.25 billion, or 92.5 percent, comes in the form of "tax expenditures." A tax expenditure is the wonky term for provisions in the tax code that allow an individual or company to skip paying taxes or to get a tax refund. WRAL
Submitted 2 years 19 days ago

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How Obama's White House Stops Employers from Hiring
With 23 million Americans still needing full-time jobs, you would think the Obama administration would be doing everything possible to encourage hiring. At the least, you might expect them to tone down activities that would discourage hiring--that is not the case. The Fiscal Times
Submitted 2 years 19 days ago

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Jobs Recovery Worse Than You Think
The February jobs report released last week by the Bureau of Labor Statistics might have been surprisingly strong, offering some hope that the U.S. economy can keep growing at a moderately healthy pace as private-sector employers and consumers try to shrug off the added fiscal austerity from Washington. Today's Labor Department report showing a drop in the number of layoffs in January and an increase in the number of hires and job openings also suggests a strengthening employment picture. The Fiscal Times
Submitted 2 years 19 days ago

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Obama Hears a Big “No” on Cutting Entitlements
Well, so much for the era of good feeling. President Obama traveled to Capitol Hill on Tuesday afternoon for the first of four meetings he has planned this week to reach out to Senate and House Democrats and Republicans in search of political consensus. The Fiscal Times
Submitted 2 years 19 days ago

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White smoke signals new pope elected
VATICAN CITY (Reuters) – White smoke poured from the roof of the Sistine Chapel on Wednesday and the bells of St. Peter’s Basilica pealed, signaling that cardinals had chosen a new pope to lead the troubled Roman Catholic Church after only five ballots. The decision by 115 cardinal electors came sooner than many faithful expected because of the large number of possible frontrunners identified before the vote to replace Pope Benedict, who resigned in February.
Submitted 2 years 19 days ago

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SC Port’s inland rail yard in Upstate hits roadblock
The trains might not run on time to the $35 million railyard that the State Ports Authority hopes to open in the Upstate by Labor Day. The “inland port” project in Greer hit a legal roadblock Tuesday when the maritime agency disclosed that a refrigerated warehouse business that rents part of property has refused offers to budge. Post-Courier
Submitted 2 years 19 days ago

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10 Worst People on Forbes 2013 Billionaires List: Oligarchs and monopolists and thugs, oh my!
It will hardly come as a surprise that the rich got richer in 2013. Didn’t happen to you, did it? The combined wealth of the world's billionaires hit an all-time high of 5.4 trillion, up from 4.6 trillion in 2012. Alternet
Submitted 2 years 19 days ago

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Why did Lipton stay in VA? Workers steeped in plant history
Its 60-year history in the city, a trained workforce of 300 employees and proximity to the port were key factors in Unilever's decision to stay put and invest $96 million to upgrade its Lipton Tea plant in Suffolk, company officials said Monday. The Virginian-Pilot
Submitted 2 years 19 days ago

 

 

 

Features & Opinion

 Top Ten Places in the South for Relocating California Companies

Just look around at what's happening in the aerospace industry in the American South. Aerospace is really making a move to become one of the region's top two industry sectors. It’s not there yet, but if large project counts are any indication, aerospace may soon challenge the petrochemicals sector as the second largest industry in the region. Never before has the aerospace industry been so important to the South's economy. Oh, what's the No. 1 industry sector in the South? Automotive is, of course. That industry hasn't been challenged much for 25 years in this region, or since we’ve been counting.

 

 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     
This is our annual "Made in the South" issue and it's timely because there is a new player in the South's manufacturing universe. For almost two decades, economic developers and politicos in the South and the U.S. have been chasing Chinese projects with little or nothing to show. Want proof we've been chasing ghosts in China for years? Okay, go ahead and name a Chinese brand that's made in the South? Tick. . .tick. . .tick. Give up?
 
 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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