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Huntsville among top 10 Most Promising U.S. Tech Hubs to watch in 2014 by Techie.com
HUNTSVILLE, Alabama – Huntsville was the only city in Alabama to make Techie.com's new Most Promising Tech Hubs of 2014 list. Other U.S. cities featured on the list, which was released Monday, were Atlanta; Burlington, Vt.; Fort Collins, Colo.; Champaign/Urbana, Ill.; Detroit; Kansas City, Mo.; Orlando, Fla.; Minneapolis/St. Paul; and Sioux Falls, S.D. "One of the most important factors in naming our most amazing tech hubs is the presence, or at least the emergence, of a tech and startup culture," said Dan Blacharski, Techie.com editor-in-chief. "Without the culture, the meetups, and the fun places to go in the city, tech startups just won't want to come." AL.com
Submitted 2 years 117 days ago

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Silicor project to reimburse Lowndes County, Miss.
COLUMBUS, MISS. — Mississippi Silicor’s proposed project in Lowndes County failed about a year ago. Now, Lowndes County, 4-County Electric Power Association and Lowndes County Industrial Development Authority will share in $238,000 in reimbursements for what they spent trying to lure the company to the area in 2012. The Commercial Dispatch reports that the county will receive $69,000, the Industrial Development Authority about $86,000 and 4-County about $82,500. Silicor missed a Dec. 31, 2012 deadline to put $150,000 in an escrow account for the plant in Lowndes County. The Silicor plant was initially forecast to employ 200. An additional phase of the project — a silicon metal purifying operation — was expected to provide 750 jobs. The Commercial Dispatch
Submitted 2 years 117 days ago

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Groups seek to stop Mississippi offshore drilling rules
JACKSON -- Environmental groups want a judge to stop rules setting a framework for offshore gas and oil exploration in parts of the Mississippi Sound.At a hearing Monday, the Sierra Club and the Gulf Restoration Network asked Hinds County Chancery Court Judge William Singletary to order the Mississippi Development Authority to reconsider the rules governing leasing certain tracts.The legal action centers not on whether drilling would be good for the state's environment and economy but on whether MDA properly drew up the rules to allow seismic testing and leasing of parts of the Mississippi Sound by oil and gas companies. MDA issued the rules in 2012 and ruled against an administrative appeal from opponents, with the case then moving into court.Drilling would be limited to areas seaward of the barrier islands, but closer to shore in the eastern edge of Mississippi waters near the Alabama state line. Experts say there's natural gas underthe Sound but little oil. Biloxi Sun-Herald
Submitted 2 years 117 days ago

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Shaw investing $100M to convert N. Georgia plant, hire 200
Dalton-based Shaw Industries said it is exiting the area rug business and investing more than $100 million to convert a Ringgold plant to produce luxury vinyl tile. The Shaw Living Rug Division employs 400, and the company said the majority of the workers will have opportunities in other parts of the company. A company spokeswoman said Shaw will be looking to hire at last 600 workers in the first half of this year. In addition to those jobs, the new luxury vinyl tile operation will employ about 200 workers when the retrofitted plant opens in the second quarter of 2015, spokeswoman Susan Rich said. AJC.com
Submitted 2 years 117 days ago

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McCrory touts ‘Carolina Comeback’ economy
DURHAM — Gov. Pat McCrory touted what he termed as the “Great Carolina Comeback” on Monday as evidence the state’s Republican-authored economic and tax reforms are working. McCrory was the keynote speaker at the Annual Economic Forecast Forum hosted by the North Carolina Bankers Association and North Carolina Chamber. The crowd of about 1,000 people at the luncheon were friendly to McCrory’s pro-business message, giving the governor a standing ovation as he took the stage. “We had the highest tax rates in the Southeast,” McCrory said. “…We think this tax reform, which lowered your corporate tax rates and lowered your income tax rate, will help existing businesses grow and help in the recruitment of new businesses and we’re already seeing a very positive impact.” Raleigh News & Observer
Submitted 2 years 117 days ago

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Veteran executive named interim CEO of NC’s new private economic development arm
State officials announced Tuesday morning that Richard Lindenmuth will be the first chief executive officer of the state's new private economic development arm. Lindenmuth, state officials said, has more than 30 years of management experience in domestic and international business operations. He has served as chief executive officer of more than 10 companies and a corporate performance adviser for several others. Lindenmuth was president of ITT’s Business and Consumer Communications Group in Raleigh. Lindenmuth will implement the transition of several Commerce Department divisions from the public side to the private Economic Development Partnership of North Carolina, which will assume all sales and marketing functions of the department. Charlotte Observer
Submitted 2 years 117 days ago

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U.S. Factories Begin to Hit Growth Stride
The nation's factories finished the year on a high note and looked to be building momentum heading into 2014. The Institute for Supply Management's monthly index, which is based on a survey of purchasing managers, hit 57 in December. That was down slightly from 2013's high of 57.3, registered in November. Readings above 50 indicate expansion. Manufacturing has expanded for the past seven months, according to ISM surveys, after slowing last spring. "I don't see any weaknesses," in the December survey, ISM Chairman Bradley J. Holcomb said Thursday. "I see a good, strong, balanced report…and a very promising start" for 2014. The Wall Street Journal
Submitted 2 years 117 days ago

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U.S. Oil Boom Changes Trade Trends
Booming U.S. oil production continues to narrow the trade deficit, as domestic supplies crowd out crude imports and refiners ship increasing amounts of gasoline and diesel abroad. The trade deficit in petroleum products hit a 2013 low in November, falling to $15.2 billion, according to seasonally adjusted data released by the Commerce Department on Tuesday. Adjusted for inflation in 2009 dollars, the gap between petroleum imports and exports is the lowest since at least 1994. Driving the trend is a surge in U.S. crude output, which has increased about 64% from five years ago, according to data from the U.S. Energy Information Administration. Drillers have unlocked copious amounts of oil from dense layers of rock, notably shale in Texas and North Dakota, giving refiners a closer, cheaper supply of crude. The Wall Street Journal
Submitted 2 years 117 days ago

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The 15 US Cities That Are Driving The Future, See Which Are Southern
The American economy is being reshaped along the booming industries of technology and energy, according to new rankings of America’s Best Performing Cities by the Milken Institute. Business Insider
Submitted 2 years 117 days ago

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STOCKS RALLY, DOW ADDS OVER 100 POINTS: Here's What You Need To Know
Stocks recovered some of their beginning-of-the-year losses. First, the scoreboard: Dow: 16,530.9 (+105.8, +0.6%) S&P 500: 1,837.8 (+11.0, +0.6%) Nasdaq: 4,153.1 (+39.5, +0.9%) And now the top stories: Business Insider
Submitted 2 years 117 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 Mike Randle
The belief that "80 percent of all new jobs come from existing business and industry" is an out-of-date, old-fashioned fabrication. I have no idea how it started, where it started, or who said it first, but there are professionals in economic development as well as leaders of government in the South who actually believe that each year, 80 percent (why 80 percent I don't know, either) of all new jobs are created by existing business and industry. I hear it all the time and I just roll my eyes. There is nothing static in economic development but this: 100 percent of all lost jobs come from existing business and industry. That, and of course 100 percent of the time site consultants never pay for a meal.
 

 Business News in the South - Randle Report

FEATURE     
According to Chinese theory, yin is a passive, negative force and yang is an active, positive force. Chinese philosophers believe that the opposing forces aren't really contradictory. Instead, they are interconnected and complimentary, interacting to create a balance in one's life. 
 
 Nashville Mayour Karl Dean
The Annie E. Casey Foundation's KIDS COUNT report was released in the summer quarter. I try to read it every time it comes out since I find it to be the best indicator of child poverty, a statistic everyone involved in economic development needs to be aware of. The Annie E. Casey Foundation is a charity that supports disadvantaged children. 
 


 

 

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