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Southwest Alabama counties nabbed more than $1.57 billion in 2013 economic development investments
Houston-based Marine Well Containment Co. invested $1.4 billion in a new Theodore, Ala., facility to store its well containment equipment intended for use in the Gulf of Mexico. Here is a list of 2013 New and Expanding Industries: AL.com
Submitted 2 years 106 days ago

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That's The Randle Report for Thursday, May 15, 2014
Join us again tomorrow 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. Click on the headline to access Southern Business & Development magazine.
Submitted 2 years 107 days ago

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Nelson optimistic Northrop has edge in competition for bomber contract
WASHINGTON — Sen. Bill Nelson is scheduled to meet Tuesday with Northrop Grumman CEO Wes Bush to learn more about the company's newly announced plans to design the military's new long-range bomber at an expanded facility in Brevard County. The afternoon meeting in Nelson's Capitol Hill office may offer more clues about what was initially known as "Project Magellan," an expansion at Northrop's Melbourne International Airport facility that could bring as many as 1,800 high-paying jobs to the area. Nelson told reporters Friday the Air Force is expected to award a contract for its new Long Range Strike Bomber (LRS-B) "within a year" to either Northrop Grumman or a partnership between Boeing and Lockheed Martin. Florida Today
Submitted 2 years 107 days ago

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Fla. Sen. Bill Nelson to meet with CEO about Project Magellan plan
WASHINGTON – Sen. Bill Nelson is scheduled to meet today with Northrop Grumman CEO Wes Bush to learn more about the company’s newly announced plans to design the military’s new long-range bomber at an expanded facility at Melbourne International Airport. The afternoon meeting in Nelson’s Capitol Hill office may offer more clues about what was initially known as “Project Magellan,” an expansion at Northrop’s Melbourne International facility that could bring as many as 1,800 high-paying jobs to the area. Nelson told reporters Friday the Air Force is expected to award a contract for its new Long Range Strike Bomber (LRS-B) “within a year” to either Northrop Grumman or a partnership between Boeing and Lockheed Martin. Florida Today
Submitted 2 years 107 days ago

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Landing Magellan
It was a deal that almost didn't happen. Early on in Northrop Grumman Corp.'s two-year search for a place to expand for a new military aviation project, Brevard County was spiked from consideration. "We were eliminated in the first round," said Greg Weiner, senior director of business development for the Economic Development Commission of Florida's Space Coast. The company had been seeking 300 acres on an airport site for a project involving as many as 3,500 jobs, including manufacturing work. Melbourne International Airport didn't have that amount of land available, and Northrop wasn't interested in Space Coast Regional Airport in Titusville, which did have the land. The story could have ended there. Florida Today
Submitted 2 years 107 days ago

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Toyota plans make Texas a player in auto industry
After bagging Toyota’s North American headquarters and being picked as one of four states competing for a $5 billion Tesla “gigafactory,” Texas boosters are asserting the state’s emergence as a major player in the American auto industry. Even before Toyota’s bombshell announcement April 28 that it was moving its corporate nerve center from California to the Dallas suburb of Plano, the second-largest state already ranked No. 6 for automotive manufacturing employment, with 476 automotive manufacturing firms employing 33,800-plus workers, according to a 2013 state report. At the 60-year-old General Motors plant in Arlington, a new SUV rolls off the assembly line every minute. The Tennessean
Submitted 2 years 107 days ago

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VW looks ahead: Letter details expansion for 'existing and future product lines' in Chattanooga
Volkswagen officials told Chattanooga air pollution regulators in an April letter that they were moving ahead with an initial factory expansion to support "existing and future product lines" and start "Phase 2" of the plant's construction. The second phase at the plant could nearly double production to 300,000 units a year if it eventually is finished, the company has said. While Volkswagen officials said the addition cited in the letter to the Air Pollution Control Bureau relates to the existing Passat, it's seen as a positive sign that the automaker is eyeing Chattanooga as it considers where to put production of a new sport utility vehicle. Chattanooga Times Free Press
Submitted 2 years 107 days ago

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Higgins: 'Good Ole Boy' system is out of business
Golden Triangle Development LINK CEO Joe Max Higgins sternly warned Golden Triangle elected officials to stop pressuring companies for personal favors in job hires Monday. Higgins' comments came at the close of an independent economic development report given to about 35 city and county representatives from the Golden Triangle. As Raj Shaunak, vice president of workforce and community services at East Mississippi Community College, finished his own overview of the school's efforts to train local workers for incoming Yokohama Tire Corporation jobs, Higgins took aim at the elected officials and said companies have already begun complaining about facing pressure to make specific hires as favors. Columbus Dispatch
Submitted 2 years 107 days ago

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Ameriflight will relocate its headquarters to Dallas-Fort Worth from California
Ameriflight said today that it will relocate its headquarters and flight operations to Dallas/Fort Worth International Airport from Burbank, Calif. The international cargo carrier is relocating here “to better serve our customers throughout North and South America, as well as centralize our operations at a major international hub in the nation’s geographic core,” company president Andrew Lotter said in a statement. “It’s the right move for Ameriflight’s continued growth and expansion.” Dallas Morning News
Submitted 2 years 107 days ago

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Airbus ‘emerges’ victorious, high-gear hiring and tools of the trade(s) top Thursday’s Mobile business buzz
MOBILE, Alabama – It's been a whirlwind week for Airbus news, including several new job postings for the aircraft maker's $600 million A320 final assembly line in Mobile; the inside scoop on when the next hiring wave will start and what to expect when it does; and even a first look at AIDT's Alabama Aviation Training Center, designed specifically to prepare future Airbus employees. The good news continued Wednesday, though, when Airbus was crowned the "Emerging Manufacturer of the Year" by the Business Council of Alabama and the Alabama Technology Network. The accolade was announced during the 2014 Manufacturer of the Year Awards luncheon at the Alabama Activity Center in Montgomery. For the complete list of 2014 winners click here. AL.com
Submitted 2 years 107 days ago

 

 

 

Features & Opinion

 Randle Report - Business News in the South

For those who still languish over "losing to China" or believe that the economy is still in recession, wake up and smell the data. Economic development in the South was about as good as it gets in calendar year 2015 according to the data. And as for China, borrowing a quote from the late football coach Bear Bryant that he made in the half-time locker room down 15-0 to Georgia Tech in 1960, "We got 'em right where we want 'em." For those of you who don't know the rich history of Alabama Crimson Tide football, Bama scored all of its 16 points in the fourth quarter, kicking a field goal on the last play of the game to beat Tech 16-15.
 

 Randle Report - Business News in the South

 FEATURE  
By Mike Randle
Today, factories in the U.S. make twice as much product as they did in 1984. And they are doing it with one-third of the manufacturing workforce. In fact, the output of durable goods in 2015 was the highest in the nation's history. So, we do have a strong manufacturing base, at least in the South, much of the Midwest and parts of the West, and it is getting stronger because on a cost-basis, we can compete with any major manufacturing nation in the world.  
 

 Randle Report - Business News in the South

FEATURE     
The argument for or against a minimum wage hike continues between the reds and the blues, as well as within the economic development community in the South. Should we stay the course with a minimum wage under $8 an hour to better compete with Mexico, the South's biggest competitor for jobs, or set a minimum wage just over $10 an hour, a wage floor most centrists support? That $10 per hour is, according to the MIT Living Wage Calculator, about right in most states in the South for one adult to be able to cover basic expenses plus all relevant taxes.
 
 Randle Report - Business News in the South
Recent data from the Computing Technology Industry Association (Comp TIA) showed that the technology industry is one of the fastest growing job generators in the South and the nation. The report also indicated that technology job compensation is growing faster than any other sector.
 


 

 

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