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Duke Energy names recruitment manager
Duke Energy said Tuesday it has named John Fremstad as manager for its business development and economic development team. Fremstad will be based in Orlando, Fla., and be responsible for recruiting companies in the data-center sector in the Carolinas, Florida, Indiana, Kentucky and Ohio. The company has formed partnerships with local, regional and state economic development organizations, as well as has a specialized enterprise-wide business development team that identifies and proactively recruits large national and international companies to its entire service footprint. Site Selection magazine recognized Duke Energy as one of the nation's 10 best utility companies in promoting business and economic development. It has received the recognition in 14 consecutive years. Energybiz.com
Submitted 2 years 145 days ago

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Seaholm project groundbreaking is imminent
The long wait for the Seaholm Power Plant project to begin construction appears to be over. Developer Southwest Strategies Group Inc. — which formed Seaholm Power Development LLC to oversee the office-residential-retail project — confirmed Thursday afternoon that the associated real estate transactions with the city of Austin will close Friday or Monday at the latest. Austin Business Journal
Submitted 2 years 145 days ago

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IRS Says It Can Read Your Emails
The Internal Revenue Service believes it doesn’t need permission to root through emails, texts or other forms of electronic correspondence, according to recently released internal agency documents. Fox News
Submitted 2 years 145 days ago

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Boom in Bourbon Leads to Dry Glasses as Supply Catches Up
When someone tells you customers are buying your product almost as fast as you can make it, that’s a good problem and a bad problem. After all, who complains about healthy sales? At the same time, shortages of your product may prompt customers to look elsewhere. That’s the dilemma facing Kentucky’s popular bourbon industry. Sales are strong, but careful management of the product is essential. “Times continue to be good. Sales were up again across the board in 2012,” said Eric Gregory, spokesman for the Kentucky Distillers Association. “Premiums, super-premium brands and the small-batch and single-barrel brands continue to drive growth globally, not just here in the United States.” A recent Makers Mark bourbon shortage drew world attention. The company announced it would lower its alcohol content from 45 percent to 42 percent due to supply-and-demand issues. Customers were outraged. The response was so sharp chief operating officer Rob Samuels quickly reversed the plan and offered a mea culpa. Business Lexington
Submitted 2 years 145 days ago

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Reports says Pascagoula, Miss., No. 1 in the country in new construction job growth
PASCAGOULA, Mississippi -- Pascagoula is No. 1 in the country in the highest percentage of new construction jobs, according to a report released today by the Associated General Contractors of America. From February 2012 to February 2013, Pascagoula added 1,800 new construction jobs, an increase of 51 percent. Pascagoula was followed by El Centro, Calif. (23 percent, 300 jobs); Anchorage, Alaska (22 percent, 1,800 jobs), Fargo, N.D. (20 percent, 1,200 jobs) and Merced, Calif. (20 percent, 300 jobs). Houston-Sugar Land-Baytown, Texas (13,200 jobs, 8 percent) added the most jobs. Other areas adding a large number of jobs included Dallas-Plano-Irving, Texas (10,700 jobs, 10 percent); Los Angeles-Long Beach-Glendale, Calif. (8,500 jobs, 8 percent) and Fort Worth-Arlington, Texas (7,200 jobs, 12 percent). Construction employment increased in 158 out of 339 metropolitan areas, declined in 132 and was stagnant in 49, the report stated. Mississippi Press
Submitted 2 years 145 days ago

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Boeing expansion could turn SC into ‘aerospace hub’
Boeing’s new $1 billion investment to its North Charleston jet manufacturing plant could help South Carolina land more suppliers, a leading state lawmaker said Tuesday.“Our state could become the aerospace hub,” Senate Finance Chairman Hugh Leatherman, R-Florence, said from the Senate floor after a bill to give the aircraft maker $120 million in incentives was introduced.Boeing said Tuesday that it plans to add 2,000 jobs by 2020 to the more than 6,000 workers now at the Lowcountry plant. Leatherman said he expects Boeing to add another 2,000 jobs on top of what it has announced, bringing the total workforce at North Charleston to 10,000. The State
Submitted 2 years 145 days ago

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Ala. joins automotive technology innovation effort
MONTGOMERY, Ala. — The state of Alabama has joined an alliance of Southern states working to bolster the region's effort to develop technology in the automotive manufacturing industry. The state has joined the Automotive Accelerator Alliance, which already includes Tennessee, South Carolina, Georgia and Mississippi. The accelerator aims to run a 13-week program to identify and commercialize technology that can be used in the automotive manufacturing industry. The first accelerator will begin May 13 in Spring Hill, Tenn. and will end Aug. 8 with pitch presentations to investors. Cullman Times
Submitted 2 years 145 days ago

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High-speed celebration: Austin lands super-fast Google Fiber network
Austin took a glimpse into its future Tuesday through a looking glass supplied by Google Inc. The governor showed up. The mayor was there. Local politicians, techies, entrepreneurs and community leaders all showed up at Brazos Hall downtown because they knew Google’ssuper-fast Internet network — called Google Fiber — was being announced for Austin, and they thought that history was being made. “The next big thing in Austin!” exclaimed Eugene Sepulveda, CEO of the Entrepreneurs Foundation of Central Texas, after he heard Google will build in Austin a 1 gigabit broadband network — a network that will be more than 100 times faster than today’s typical broadband Internet access. Austin American-Statesman
Submitted 2 years 145 days ago

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Georgia medical device makers call health care tax unfair
Georgia medical device manufacturers say a 2.3 percent industry-wide federal tax on their sales revenue will jeopardize jobs and force them to pull back on crucial research. The manufacturers argue that the tax — expected to raise about $30 billion over ten years that will go toward health care reform — is unfair. Bills to repeal the tax have been introduced in Congress, and U.S. Sen. Johnny Isakson is among those behind it. The tax went into effect Jan. 1. Supporters of the levy say manufacturers’ concerns are exaggerated and point out that hospitals and drug makers are being taxed, too. Both sides downplay the direct impact on consumers. AJC.com
Submitted 2 years 145 days ago

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Arkansas spill: ExxonMobil Oil Pipeline Gash 22 Feet Long
LITTLE ROCK - An ExxonMobil pipeline that ruptured last month and spilled thousands of barrels of oil in central Arkansas has a gash in it that is 22 feet long and 2 inches wide, state Attorney General Dustin McDaniel said Wednesday. "The pipeline rupture is substantially larger than many of us initially thought," McDaniel told reporters Wednesday evening. McDaniel's update on the March 29 oil spill in Mayflower, about 25 miles northwest of Little Rock, comes as lawyers and investigators review more than 12,500 pages of documents his office received from ExxonMobil. McDaniel sent a subpoena to ExxonMobil, seeking inspection records, investigative documents and maintenance records related to its Pegasus pipeline that ruptured in Mayflower. Arkansas Business
Submitted 2 years 145 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     
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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