Economics

B2B Stories

Zipping over the Savannah River

A plan by Destination Augusta to create a recreation facility along the Savannah River was approved by an Augusta-Richmond County Commission committee. Members of the Public Services Committee gave the green light for a proposed management and operations agreement with The Forge for the Outdoor Urban Adventure Center. The company operates a 300-acre adventure park in Lemont, Ill. “Finding the right group with the right vision to make this attraction a reality was the first step,” said Destination Augusta President & CEO Bennish Brown in a news release announcing the

Read More »
B2B Stories

Simon Says: Big employment dip

Employment in the Augusta Metropolitan Statistical Area (MSA) fell by 1,200 in May compared to April. There are two reasons for this fall that I can see in the data. First, although the employment data is seasonally adjusted by the Federal Reserve Economic Data team at the St. Louis Fed, the hangover effect of the Masters golf tournament can be seen in the leisure and hospitality and other services sectors. Employment in leisure and hospitality fell by 600, and other services by 1,100. Second, we may be beginning to see

Read More »
B2B Stories

$225 million investment for the CSRA outskirts

A leading producer of sustainable building materials is establishing its first sawmill in the southeast. Hampton Lumber will invest $225 million in its latest operation in nearby Allendale County, SC, and is expected to create 125 jobs. Headquartered in Oregon, Hampton Lumber is a fourth-generation, family-owned producer of high-quality wood products sourced from sustainably managed forest resources. Operating nine sawmills in Oregon, Washington, and British Columbia, Canada, the company markets and sells building materials worldwide. Hampton Lumber will construct a state-of-the-art, 375,000-square-foot lumber mill located at Highway 321 and Barker

Read More »
B2B Stories

Pricey transportation projects underway in the CSRA

The Georgia Department of Transportation (GDOT) has released a report showing the impact the Transportation Investment Act (TIA) has on the CSRA. TIA is a 1% special-purpose tax designed to fund transportation programs in GDOT districts that approved it. In 2012, voters in District 2, which includes the CSRA, were one of only three districts to approve the tax. That 10-year term, now called TIA 1, raised $746.9 million for 84 projects across the district. Kyle Titus, Columbia County Engineering Services Director, told ABD that the TIA funding has been

Read More »
B2B Stories

Burke County part of $18 million grant program

The Development Authority of Burke County (DABC) is one of three organizations in the CSRA that will receive funds through the Georgia OneGeorgia Authority’s Rural Site Development Initiative. The program gives rural counties financial support to identify and establish ready-for-development industrial sites. “Georgia offers the workforce, connectivity, and business-friendly environment for companies to be successful in every corner of the state, which is why we’ve been named the top state for business for over a decade,” said Governor Brian Kemp in the news release announcing the grants. “The Rural Site

Read More »
B2B Stories

PSC freezes Georgia Power rates for three years

In a move that should benefit both businesses and consumers alike, the Georgia Public Service Commission (PSC) has approved a plan to keep Georgia Power’s base rates stable and predictable through at least the end of 2028. Storm costs from Hurricane Helene will be considered separately at the beginning of 2026. After seven hours of testimony, the freeze approval follows a stipulated agreement reached between Georgia Power and Georgia PSC Public Interest Advocacy Staff in May, which recommended an extension of the existing alternate rate plan previously approved by the

Read More »
B2B Stories

2025 Predictions Update: Mid-Year Status

Today, July 2, we officially move into the second half of 2025. Therefore, I thought it would be a good time to perform a “mid-year check” of the predictions I made for the year in this space on December 18, 2024. As a reminder, the title of that column was “2025 Predictions:  Trump Policies Edition.” So, in the remainder of this column, I will evaluate each of my predictions based on the promises President Trump made prior to returning to the White House by giving myself a “midterm grade,” a

Read More »
B2B Stories

July brings sizzling economic impact

More than 9,000 visitors, generating almost $1.5 million, are expected in the River Region for meetings, reunions, events, and sporting events this month. One of the largest events kicks off July 7 with the Nike EYBL Peach Jam, which results in the largest chunk of attendance and economic impact. Destination Augusta and the Augusta Sports Council work together on recruiting and hosting these various activities, which play a critical role in sustaining the nearly 30,000 jobs that are part of the Leisure and Hospitality Industry, the fourth largest employment sector

Read More »
B2B Stories

Airport’s wish list of new airline and projects

Augusta Regional Airport presented its proposed list to the Finance Committee members of the Augusta-Richmond County Commissioners in hopes of receiving Special Purpose Local Option Sales Tax (SPLOST) funds. The update included some interest from a new airline in working with Augusta Regional Airport. The list outlined by Herbert Judon, Jr., Executive Director of Augusta Regional Airport, was brief, just two items. One is a $6 million expansion of ramp space on the airport’s southeast side. The other, $20 million, would be for the construction of two additional hangars. While

Read More »
B2B Stories

Time for Social Security reform…avoid the iceberg!

Last Wednesday (June 18), the Social Security Trustees released their annual report on the financial status of the program. The 2025 report projects that Social Security will become insolvent in 2033. Such insolvency means that the Social Security trust funds will not have enough money to pay promised benefits in full and on time. If this insolvency is not addressed, in 2033, retirees will face an automatic 23% benefit cut under the law. The problem will continue to get worse as more and more baby boomers like me continue to

Read More »