Economics

B2B Stories

Out to pasture after running a successful business?

Imagine for a moment that your business contributes more than $70 million to the local economy, not to mention other support businesses that grow and reap the rewards in the entire CSRA. When you are ready to hang up the reins, what happens next? Aiken is horse country, and the real estate investments for horse farms, the events and visitors they attract, the trainers, farriers, veterinarians, and feed suppliers are all part of the economic equation. What happens to the retired thoroughbreds that provided years of excitement for the Aiken

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B2B Stories

Report showcases impact of AI and high tech on job market

The importance of being tech-savvy about cutting-edge technology and artificial intelligence (AI) is the focus of the latest report from the Georgia Chamber Foundation. Titled “Fostering Innovation and Entrepreneurship,” the Q2 report breaks down how the state’s economy will be impacted by AI, new technologies, and STEM (Science, Technology, Engineering, and Math) careers. This is one of the five Prosperity Pillars in the Chamber’s Georgia/2050 strategic plan. The report found that STEM is a significant contribution to the innovation economy. It finds that Georgia has more than 2.1 million STEM

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B2B Stories

$12 million investment in CSRA

A manufacturer of paper towels and toilet paper is set to move into a South Carolina plant once occupied by another manufacturer producing similar products. Barnwell Tissues Solution’s $12 million investment will restore 50 new jobs at 285 Midfield Road in Barnwell. That is the former home of the Cascades Tissue Plant. It’s also good news for Barnwell County, which has struggled with a 4.9% unemployment rate, compared to Aiken County with a 3.8% rate and Edgefield County, which is 3.4%. Cascades used to employ 300 workers. Cascades Tissue Plant

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B2B Stories

Roadmap to development in the River Region and the state

Georgia makes it easy for companies wishing to locate in the state to find the perfect location with a simple search. The Georgia Department of Economic Development (GDEcD) website has a page dedicated to guiding companies to a location that will check all the boxes on their wish list. The site selector map allows the user to search by multiple tools, including location, workforce, and demographics. “It’s kind of our best-kept secret, and it’s really on us to kind of spread that word honestly,” Bob Kosek, Division Director of Global

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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

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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

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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

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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

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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

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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

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