Economics

B2B Stories

Union workers in CSRA and across the South still on strike

The work stoppage pitting members of the Communications Workers of America (CWA) District 3 against AT&T continues for a third week. The walkout began when talks between the company and the union broke down after two months of negotiations. Both the company and the union have sometimes posted daily updates on their respective websites. Both say talks resumed over the weekend. That followed the union’s September 2nd decision to step away from talks that included the Federal Mediation and Conciliation Service. CWA District 3 Vice President, Richard Honeycutt called the

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Opportunities ahead: Business growth in Augusta

As the second largest metro area in Georgia with more than 600,000 residents, Augusta continues to grow. In fact, Augusta has experienced a notable 26% population growth over the past two decades. There are several business trends and economic factors attracting more and more people to the area. One of the largest economic drivers in Augusta is the government. Fort Eisenhower has long played a significant role in spurring local growth as it brings military families, contractors, and other skilled workers to the area. Fort Eisenhower’s population has doubled over

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New business guidelines for some Augusta businesses

Minority and women-owned businesses are encouraged to attend a public meeting to learn about the recently adopted Business Enterprise Program (M/WBE). Augusta commissioners approved an amendment to the city code to add the program. The meeting will include details on how to apply for certification to be part of the program. “It’s really an opportunity for us to let the community know what’s going on with this program, but more specifically, to let them know that the program now exists and has been approved and what the next steps would

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Simon Says: Positive Labor News in CSRA

Last week, I reported that the unemployment rate in Augusta had risen to 4.1% in July, but what about other measures of the labor market? Employment increased by 500 to exceed 247,000 for the first time. Rising unemployment and more jobs are due to an increase in the labor force of a little over 700 people. Additionally, average weekly earnings were over $1,000 for the first time since December and average hours worked increased by 24 minutes in July from June. Overall, the three-month moving average Labor Market Index (LMI)

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More than $12 million expected in River Region coffers this month

A full slate of meetings, sports competitions, and other events are expected to draw more than 114,000 visitors to the CSRA in September, with an estimated economic impact of at least $12,564,076. Both Destination Augusta and the Augusta Sports Council agree that recruiting and hosting these various activities 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 in the metro area. Total EEI is calculated based on research commissioned by both Explore Georgia and Destinations International

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Augusta businesses poised for continued long-term growth

Augusta remains one of Georgia’s economic success stories, having steady population growth, strong employment numbers, and a sturdy real estate market. Alongside this, a robust private sector and a prominent government presence in Fort Eisenhower contribute to the area’s success. The local business scene continues to thrive post-pandemic thanks to growth in private industry, government, and healthcare. While there is much to be optimistic about in and around Augusta, business owners are keeping an eye on a few trends that might impact their businesses in the coming months. Based on

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Facebook parent company coming to Aiken County

Meta, one of the top five U.S.-based information technology companies, will build a new data center in Sage Mill Industrial Park. Rounding out the top five are Alphabet (Google), Amazon, Apple and Microsoft. “Meta’s decision to locate its newest operation in Aiken County is a major win for South Carolina’s thriving technology industry. Meta’s $800 million investment will significantly impact our economy, creating valuable jobs and further driving innovation. We look forward to building a strong partnership with Meta that will benefit our communities and enhance our state’s reputation as

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Simon Says: SAHM rule and recession

The “SAHM” rule is named for economist, Claudia Sahm. The national U.S. unemployment rate rose to 4.3% in July, the highest since 2021. It also marked another milestone. According to the Sahm indicator, the U.S. economy is now in recession. The Sahm indicator says that if the three-month average unemployment rate rises by more than a half percentage point above the lowest three-month average for the previous 12 months, then the economy is in recession. By this measure, the Sahm indicator hit 0.53 in July. The unemployment rate for July

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Augusta business celebrates its first 50 years

A company that has been part of Augusta-Richmond County for half a century celebrated that milestone yesterday morning. StandardAero first opened in 1974. It moved its operations to Augusta Regional Airport about 15 years ago. Russell Ford, CEO of StandardAero, sent a video greeting to the dozens of employees and guests. He said they built StandardAero as a family, and it now has the highest credibility across the aerospace industry. “When I think about our culture and justice, the phrase private workmanship comes to mind,” he began, “The intense focus

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New insurance costs may impact your business

Georgia’s governor is holding a series of roundtable discussions to understand the impact insurance costs are having on the state’s businesses. The first of the three scheduled sessions focused on the impact the state’s civil litigation climate, along with the cost and availability of coverage, has on the businesses. Gov. Brian Kemp (R) said the ultimate goal of tort reform is to stabilize the costs for Georgia citizens and businesses, as well as ensuring multiple insurance companies are providing coverage in the state. “Right now, everyone across the country, including

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