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Incentives necessary, appropriate to lure Alabama jobs
Since the 1930s, incentives have been a part of the U.S. site selection equation. While incentives are only one component of a company's location decision, the subject has caused much debate about whether a government should be using incentives and inducements to attract major employers to their state. Based on the economic, social and moral impact of new quality jobs and taxes, the resounding answer is "yes." AL.com
Submitted 22 hours ago

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Incentives don't make sense, economically or morally
A Mercedes automotive parts supplier is coming to T-Town. Unlike Santa Claus, however, its gifts aren't free. Economic incentive deals, like this $27 million going to Samvardhana Motherson Group — on the heels of the $80 million deal to bring a Google data center to Stevenson, come on the backs of Alabama's already burdened taxpayers. AL.com
Submitted 22 hours ago

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Does Friday's job report really hold the answers?
"Most important jobs report ever" screams the crawl as it slides across the business channel TV screen also filled with flashing red stock quotes that reflect billions of dollars in losses for the day. Indeed, Friday morning's jobs report, which will have the August employment data including the latest jobless rate, is being widely reported as playing a key role in the interest rate decision the Federal Reserve will make at its next meeting Sept. 16 and 17. CBS News
Submitted 2 days ago

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Small manufacturers key to building a nation of makers
A panel of scholars from the University of Virginia's Miller Center on Friday returned to what the leaders often call the center's birthplace in Chattanooga to outline their recommendations for making America's small and midsized manufacturers stronger in the global marketplace. Chattanooga Times Free-Press
Submitted 3 days ago

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Developing the Cure for Corporate Welfare
Philadelphians don’t exactly need another reason to love the Reading Terminal Market, the city’s one-hundred-plus-year-old iconic public market, but here it is anyway: The whole place is 100 percent self-financed. Not only are the tenant vendors local, independent businesses, tenant rents and sales cuts fund 90 percent of the Market’s budget. The rest comes mostly from an annual fundraiser that brings in about $100,000. Contrast that with General Motors, Ford, Chrysler, General Electric, Boeing, Amazon and 42 other companies that received more than $100 million each in state or local incentives from 2007 to 2012, according to an independent study by the New York Times. The study found that state and local governments gave up $80.4 billion in incentives to “attract and retain” businesses for the purposes of “creating jobs.” Nextcity.org
Submitted 3 days ago

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Rethinking Work
HOW satisfied are we with our jobs? Gallup regularly polls workers around the world to find out. Its survey last year found that almost 90 percent of workers were either “not engaged” with or “actively disengaged” from their jobs. Think about that: Nine out of 10 workers spend half their waking lives doing things they don’t really want to do in places they don’t particularly want to be. Why? New York Times
Submitted 4 days ago

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Strengthening America’s economy
America’s national debt sits above a staggering $18 trillion. That’s math we literally can’t even begin to comprehend, yet it’s not hard to understand why we should worry. A big reason to worry is looking at who holds our debt. It’s not stakeholders in the US, but countries like Japan and China. Just look at the large drop in the stock market last week in reaction to China’s devaluation of its currency. In the 21st century, the health of China’s economy is closely linked to the health of our economy. Yourhostonnews.com
Submitted 6 days ago

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A dangerously misleading idea threatens to derail the American economy
The US economy got some great news Thursday morning when revised numbers indicated that the economy grew 3.7 percent in the second quarter. That same report carried zero indication that inflation is getting out of hand, but nonetheless was greeted with speculation that it might induce the Federal Reserve to raise interest rates sooner rather than later. After all, good news indicates that the economy can survive without life support. Vox.com
Submitted 7 days ago

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Louisiana Gov. Bobby Jindal: How Government Made Our Healthcare System Unaffordable
I’m going to say something which will surprise a lot of people: American healthcare is the best in the world. It is, to paraphrase Churchill, the worst system of all, except for every other. Forbes
Submitted 9 days ago

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Robert Reich: The sharing economy will be our undoing
As Labor Day looms, more Americans than ever don’t know how much they’ll be earning next week or even tomorrow. This varied group includes independent contractors, temporary workers, the self-employed, part-timers, freelancers, and free agents. Most file 1099s rather than W2s, for tax purposes. On demand and on call – in the “share” economy, the “gig” economy, or, more prosaically, the “irregular” economy – the result is the same: no predictable earnings or hours. Salon
Submitted 10 days ago

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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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