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Economics
B2B Stories

Looking back and forward with Columbia County Chamber

The Vice President and Managing Director of Government Affairs at the U.S. Chamber of Commerce helped the Columbia County Chamber of Commerce wrap up the 2024 Executive Luncheon series. Tim Monahan offered a glimpse into what he anticipates the first 100 days of the 119th Congress will look like on Capitol Hill as 2025 begins. Up first will be the change in leadership, with Senator John Thune (R-S.D.) stepping in as the new Senate Majority leader. The first chore facing the Senate will be confirmation hearings for income President Trump’s

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Dana Lynn McIntyre December 9, 2024 No Comments
B2B Stories

Augusta’s overall economy in good shape, despite Hurricane Helene

The state of Metro Augusta’s economy is good. That was the overarching message at the annual economic briefing sponsored by Augusta University. Led by Dr. Mark Thompson, Dean of the Hull College of Business, and Dr. Simon Medcalfe, Professor with the Hull College of Business and an ABD contributor, the report is a year-end tradition. “It’s an opportunity to really bring the business community together with the academic community to provide insights on what’s going on in the local economy,” Thompson explained for ABD. “It’s networking but it’s also an

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Dana Lynn McIntyre December 5, 2024 No Comments
B2B Stories

Record-breaking holiday spending expected

The just-wrapped-up five-day holiday shopping kickoff over Thanksgiving shows promise for the rest of the period. The National Retail Federation (NRF) reported an estimated 197 million shoppers participated in the traditional start of the holiday shopping season. That surpasses the prediction of 183.4 million shoppers. The full holiday shopping season is Nov. 1 through Dec. 31. The findings were in a survey conducted for NRF by Prosper Insights and Analytics. ABD joined a virtual briefing NRF and Prosper Insights organized for news reporters. “Thanksgiving is a single five-day shopping period

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Dana Lynn McIntyre December 4, 2024 No Comments
B2B Stories

“Who Got the Truth…Is It You?”

One of my favorite podcasts these days is one called “Acquired.” I started listening to Acquired back in May of this year after reading an article about it in the Wall Street Journal entitled, “The Smartest People in the Room Are All Listening to the Same Podcast.” In each episode, Acquired’s co-hosts, Ben Gilbert and David Rosenthal, take you on a journey through the backstories of well-known companies and brands. The episodes are long (a nominal company deep-dive is 3 to 5 hours), but compelling and highly instructive on how

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Dr. Rick Franza December 3, 2024 No Comments
B2B Stories

$3 million project building for the future

Construction on a project that will help young adults prepare for their future and contribute to the economy is underway on Merry Street in Augusta. Demolition has started on a building at a former Augusta park, clearing the way for a tiny homes community. It is for young people who are aging out of the foster care system with little or no ability to transition into society. Spearheading the project is Bridge Builders Communities, Inc. (BBC). Penny Wasden with First Citizens Bank is on BBC’s Board of Directors. She told

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Dana Lynn McIntyre December 3, 2024 No Comments
B2B Stories

Near $25 Million “Artconomic” benefit in CSRA

An annual event sponsored by the Greater Augusta Arts Council (GAAC) highlighted the impact the arts community has on Augusta’s image and as a magnet for tourists. The Arts Day Luncheon featured guest speaker, Susan Irish, National Association of Women Artists, South Carolina Board. Joining Irish was Bennish Brown, President and CEO of Destination Augusta, who stressed the importance of public arts. The numbers tell the story. A 2022 study by Americans for the Arts, a Washington, D.D.-based nonprofit organization, reported a $24.6 million economic impact in Richmond County from

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Dana Lynn McIntyre December 2, 2024 No Comments
B2B Stories

Simon Says: Helene’s Impact on Business

The first economic data since Hurricane Helene hit Augusta and other parts of Georgia is now available. I will provide an analysis of this data in my annual economic forecast breakfast this Thursday, December 5th at 7:30 am in the JSAC Roscoe Williams Ballroom on the Augusta University Summerville Campus. The event is free and open to the public but registration is required. There is a small amount of academic literature on the labor market impact of hurricanes. In fact, Mark Thompson, the Dean of the Hull College of Business

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Dr. Simon Medcalfe December 2, 2024 No Comments
B2B Stories

Simon Says: What you need to know about the FED… and Augusta ties

On Thursday, November 7, the chair of the Federal Reserve (Fed), Jerome Powell, announced an interest rate cut of a quarter of one percent. That news was expected, but asked if he would leave the Fed if President-elect Trump asked him to, Powell responded simply “no.” Further, he said it is “not permitted under the law” for the president to remove members of the central bank. To understand why, we need to dig back into some Georgia history. The Federal Reserve was founded in 1913 after a group of bankers

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Dr. Simon Medcalfe November 25, 2024 No Comments
B2B Stories

More than $13 Million to SRP Members for Helene Relief

Almost two months after Hurricane Helene slammed the CSRA with 100 mph winds, signs of the storm to homes and businesses are still a reminder of the initial devastation. All ten counties served by SRP Federal Credit Union were significantly impacted. Recovery is a slow process, but SRP has stepped up to support both its member-owners and team members during the aftermath. The company has provided Emergency Relief Loans, Skip-a-Pay options on consumer loans, and waived or refunded various operational fees in the amount of $13.6 million in total relief.

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Staff Report November 20, 2024 No Comments
B2B Stories

Divvying up tax $ for CSRA tourism

The committee that oversees income collected through the accommodations tax heard from North Augusta organizations hoping for a financial boost for next year. Members of the Accommodations Tax Advisory Committee received 13 requests from nonprofit organizations and the city’s Parks, Recreation, and Tourism (PRT) departments. The city’s 3% tax is collected from people who visit the city and stay in local accommodations. Some events attract major crowds with people staying one or more nights. John Felak, owner of Lookaway Inn and Chairman of the committee, told ABD the city is

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Dana Lynn McIntyre November 20, 2024 No Comments
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