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Legislation would make Enterprise Florida president be confirmed by Senate
The Florida Senate would get a say the next time Enterprise Florida appoints a president, under a measure filed Tuesday by Sen. Jack Latvala, R-Clearwater. The measure (SB 1214) would make the Enterprise Florida president subject to Senate confirmation. It also would place a lobbying restriction on former Enterprise Florida presidents for the first two years after they leave the job. Sarasota Herald-Tribune
Submitted 34 minutes ago

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Judge Dismisses Nucor's Federal Lawsuit Against Big River Steel
LITTLE ROCK - A lawsuit seeking to stop construction of a steel mill in northeast Arkansas has been dismissed. U.S. District Judge Leon Holmes on Wednesday dismissed the lawsuit by Nucor Steel against Big River Steel. Holmes ruled that the citizen lawsuit under the federal Clean Air Act is not authorized and that his court has no jurisdiction. Nucor claimed Big River Steel has violated the Clean Air Act. Big River Steel countered that the mill is still under construction and not operational, so it can't be emitting anything to violate the act. Nucor operates a steel mill in Blytheville, about 20 miles from where Big River Steel broke ground in September on a $1.3 million mill in Osceola. Arkansas Business
Submitted 1 hour ago

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Obama thanks Wal-Mart chief for raising wages
President Obama called Wal-Mart CEO Doug McMillon on Wednesday to commend him for raising employees’ wages, a move that is prompting other retailers to follow suit. Mr. Obama phoned Mr. McMillon from Air Force One on his way to Miami, where he was holding a town-hall-style meeting on the immigration issue. The president also renewed his call for Congress to raise the federal minimum wage. Wal-Mart Stores Inc. said last week that it will raise pay to at least $9 an hour by April and $10 by February. The White House cited a move by TJK Cos., which owns T.J. Maxx, Marshalls and Home Goods, to raise wages by June as a sign of momentum for boosting pay above minimum wage. The Washington Times
Submitted 2 hours ago

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Fed funds futures now point to best chance of rate hike in October (was September)
Fed funds futures are now pointing to the best chance of the first U.S. interest rate hike being in October, as dovish comments by Fed Chair Janet Yellen lowered expectations. Futures now assign a 48 percent probability to a rate hike in September and a 69 percent probability for October, according to CME Group data. The odds for a September hike were 54 percent on Tuesday morning, before Yellen started delivering her semiannual prepared remarks to the U.S. Senate. CNBC
Submitted 3 hours ago

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Go big or go home: Texas Senate pegs $4.6B in tax relief this session
Lt. Gov. Dan Patrick described a $4.6 billion tax-cut package unveiled Tuesday as the kind of tax relief that has been "long overdue" in Texas. The Senate will combine three bills and a ballot measure to address tax relief this session for both home and business owners. The property tax relief, an increased homestead exemption, is contained in Senate Bill 1. To make it permanent, voters will have to approve a ballot measure. Austin Business Journal
Submitted 3 hours ago

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The Suspense Is Gone: Hillary Clinton Is Running and Everyone Knows It
Hillary Clinton closed her Tuesday speech to 5,000 women in Silicon Valley by delivering a line about what women can do to help other women. "What you do does not have to be big and dramatic. You don't have to run for office …" she trailed off, smiling and pausing as the audience laughed and cheered. Then she added: "Although if you do, more power to you." Clinton's jokes landed because, at this point, everyone is in on it: the audience, the media and the rest of the political world all know that she plans to run for president in 2016. National Journal
Submitted 4 hours ago

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Could Too Many Cities Hurt Metro Atlanta's Regional Economy?
In an article for the Washington Post's "Wonkblog," reporter Emily Badger asks, "What happens when a metropolitan area has too many governments?" She looks at St. Louis County, with its 91 separate municipalities, as an example of how having too many individual cities can weaken a regional economy. Badger writes that smaller economies have led to some of the policies that have been scrutinized over the past year since the riots in Ferguson, Mo. WABE
Submitted 4 hours ago

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U.S. can rejuvenate manufacturing -- and here's how, federal official says
Exporting goods made in the United States may be the saving grace for U.S. manufacturers, says Jay Williams, the country's assistant secretary of commerce for economic development. So the Obama administration still has some work to do to create a level playing field for U.S. exporters, Williams said Wednesday in Concord. "The president realizes that previous trade agreements didn't live up to the hype," Williams says. "They left too much wiggle room." Charlotte Business Journal
Submitted 5 hours ago

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Gov. Nikki Haley: SC should not borrow $500 million
Gov. Nikki Haley accused the S.C. House’s chief budget writer Wednesday of trying to run up the state’s debt with a proposed $500 million borrowing plan to pay for college and job-training projects, building maintenance and economic development. “We’ve got an issue of a chairman of Ways and Means who wants to ... run up the credit-card debt just because he can,” Haley told reporters, referring to House Ways and Means Committee chairman Brian White, R-Anderson. The State
Submitted 5 hours ago

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What backup plan? Tennessee bill would help kill Affordable Care Act, should Supreme Court rule against Obama administration
In the months since the Supreme Court decided to hear the King v. Burwell case challenging federal subsidies under the Affordable Care Act, industry experts and players — while acknowledging that a pro-plaintiff decision would have far-reaching consequences— have generally expressed confidence that some sort of workaround will be found should the court rule subsidies cannot be offered to the majority of Obamacare enrollees. Memphis Business Journal
Submitted 5 hours ago

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Features & Opinion

 Top Ten Places in the South for Relocating California Companies

Just look around at what's happening in the aerospace industry in the American South. Aerospace is really making a move to become one of the region's top two industry sectors. It’s not there yet, but if large project counts are any indication, aerospace may soon challenge the petrochemicals sector as the second largest industry in the region. Never before has the aerospace industry been so important to the South's economy. Oh, what's the No. 1 industry sector in the South? Automotive is, of course. That industry hasn't been challenged much for 25 years in this region, or since we’ve been counting.

 

 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     
This is our annual "Made in the South" issue and it's timely because there is a new player in the South's manufacturing universe. For almost two decades, economic developers and politicos in the South and the U.S. have been chasing Chinese projects with little or nothing to show. Want proof we've been chasing ghosts in China for years? Okay, go ahead and name a Chinese brand that's made in the South? Tick. . .tick. . .tick. Give up?
 
 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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