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Florida's tourism industry sees largest 2Q visitation
The Sunshine State is inching closer to another record-breaking year in tourism, as preliminary estimates released by Visit Florida show record second-quarter visitation. Visit Florida estimates 24 million visitors came to the Sunshine State in the second quarter, up 3 percent from the year-ago period. It was the largest second quarter for visitation Florida has experienced, exceeding the previous record of 23.3 million in second-quarter 2013. In addition, visitor spending grew 7.4 percent to $35.7 billion from January-May when compared to the same period last year. Orlando Business Journal
Submitted 19 hours ago

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Fla. Gov. Rick Scott seeks to drive road, seaport, airport upgrades in second term
Gov. Rick Scott is hyping a plan to reinforce the state's roads, ports and airports as he campaigns across Florida this week. The proposal, which also pushes safety enhancements for bicyclists while highlighting spending on transit since Scott has been in office, is the latest part of the governor's re-election platform. "I am committed to keeping Florida moving by creating strategic investment opportunities to expand our state's transportation system," Scott, who appeared Monday in Jacksonville, said in a prepared statement. The plan focuses heavily on expanding parts of the existing transit infrastructure by affirming support for the state Department of Transportation's $41 billion 5-year work program. Jacksonville Business Journal
Submitted 19 hours ago

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N.C. aviation group being created with PTP exec at the helm
Stakeholders in the Triad aviation industry are in the early stages of forming a nonprofit group to bolster the growing aerospace cluster in the region and statewide. NC Aerospace Inc. will be a stand-alone, financially self-sustaining organization based in Greensboro that is being formed with input from representatives of numerous aviation companies and stakeholders in anticipation of a fall launch. The organization is being led by Penny Whiteheart, who is now in the process of transitioning from her role as executive vice president of the Piedmont Triad Partnership to managing director of the new nonprofit group. Triad Business Journal
Submitted 19 hours ago

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Forbes: Raleigh is No. 2 for young professionals
Raleigh received some national attention for what old curmudgeons in the Triangle already know: It is a hot spot for young professionals. So hot, in fact, that Forbes ranked the city as the No. 2 best city for young professionals, behind only Des Moines, Iowa. Austin, Texas, which ranks slightly ahead of Raleigh in many of these kinds of rankings, ranked as the No. 8 city. Raleigh ranked No. 2 in this same list three years ago when Forbes first put it out and called the City of Oaks the “college town turned boom town.” The rankings come down in large part to the employment rates of those aged 25 to 34. Triad Business Journal
Submitted 19 hours ago

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Virginia Port sinks to sixth straight fiscal-year loss
NORFOLK--The Virginia Port Authority on Monday reported an operating loss of $17.1 million for the fiscal year that ended June 30 - its sixth consecutive fiscal-year loss. While the loss was less than the $23.4 million that had been projected earlier this year, it was $4.7 million more than had been projected just three months ago in a draft budget released at the authority's May meeting of its Board of Commissioners. The authority posted an operating loss of $15.5 million in the previous fiscal year. The latest loss comes at a time of transition for the authority. It has been going through a major reorganization in which its functions are being more closely integrated with those of its operating company, Virginia International Terminals LLC. Virginian-Pilot
Submitted 19 hours ago

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Virginia unemployment rate up slightly in July
Virginia’s unemployment rate rose slightly in July to 5.4 percent, up from 5.3 percent in June, as the state’s job growth rate continued to lag behind the national rate. The bump in the jobless rate for July was the third consecutive monthly increase for Virginia. The rate had increased by two-tenths of a percentage point in May and again in June. The rates have been adjusted for seasonal factors such as school closings. The state’s labor force also contracted by about 23,795 in July compared with June, the Virginia Employment Commission reported Monday. “It is kind of a mixed report,” for July, said Ann Lang, senior economist for the commission. Richmond Times-Dispatch
Submitted 19 hours ago

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New Advanced Training Center focuses on West Virginia’s workforce of the future
The new Advanced Technology Center at the South Charleston Tech Park was dedicated on Tuesday. The facility will house programs to train the a more cutting-edge, manufacturing workforce in the state. Toyota Motor Manufacturing of West Virginia on Tuesday pledged to spend $1 million over the next five years to support training programs at the new Advanced Technology Center during a dedication ceremony for the new facility. Located in the West Virginia Regional Technology Park in South Charleston, the $15 million, 55,000-square-foot facility is the first of two that will open in the state. The second facility is under construction in Fairmont. Charleston Daily Mail
Submitted 19 hours ago

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Texas Chainsaw Prosecution
Prosecutorial abuse for partisan purposes is common these days, and the latest display is taking place in the all-too-familiar venue of Austin, Texas. On Friday a Travis County prosecutor indicted Governor Rick Perry for the high crime of exercising his constitutional right to free speech and his legal power to veto legislation. Lest you think we oversimplify, read the two-count indictment. It's all of two pages. It charges Mr. Perry with abusing his office by "threatening to veto legislation that had been approved and authorized by the Legislature of the State of Texas to provide funding for the continued operation of the Public Integrity Unit of the Travis County District Attorney's office unless Travis County District Attorney Rosemary Lehmberg resigned from her official position as elected District Attorney." Yes, that's all they've got. The Wall Street Journal
Submitted 19 hours ago

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Charlotte-based Bank Of America Reaches Record Settlement
WASHINGTON (AP) — Officials familiar with the deal say Bank of America has reached a record $17 billion settlement with federal and state authorities over its role in the sale of mortgage-backed securities in the run-up to the 2008 financial crisis. The officials say the bank will pay $10 billion in cash and provide consumer relief valued at $7 billion. Huffington Post
Submitted 20 hours ago

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Glades Drugs opening headquarters in Lake Worth FL, adding 100 jobs
Glades Drugs, a pharmacy retailer owned and operated by pharmacists, is opening new headquarters in Lake Worth. The new 8,000-square-foot location at 4560 Lantana Road will feature office space, a lab and pharmacy. Glades Drugs, now based in Boca Raton, plans to move to its new location in November. Sun-Sentinel
Submitted 20 hours ago

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Features & Opinion

 Top Ten Places in the South for Relocating California Companies

The America South is home to almost as many residents as the Northeast and the Midwest combined, but even that statistical record is about to be broken. According to a new Census Bureau study that came out in April, 51 percent of the nation's population jump occurred in the South from 2010 to 2013.
 

 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     
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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