Economics

Employment in the Augusta Metropolitan Statistical Area ended in 2023 pretty much where it started. In December, employment was 244,000, down just 100 jobs from December 2022 (see below). Mining, logging, and construction were the industry sectors that saw the largest increase in employment over the last calendar year, increasing by 5.8 percent, or about 1,000 jobs. Construction activity bodes well for 2024, as firms invest in new or expanded facilities and residential construction reflects consumer confidence. Leisure and hospitality also ended the year 3.5 percent higher, almost 1,000 jobs.

Voter approval of the $250 million bond issue for the construction of a new James Brown Arena was just the first step in a long process. Augusta Richmond County Coliseum Authority members this week approved an intergovernmental agreement clearing the way for the funds. Attorney Ed Enoch, the authority’s legal counsel, explained the sales tax funds for the project will be collected by the city of Augusta. To access the money, both the commission and authority must approve the agreement. “Once the intergovernmental agreement is signed, there’ll be a process

Several weeks ago, I attended the American Economic Association annual meeting in San Antonio. As economists, we always have our annual meeting over the first weekend of the year, because who else wants to go to a conference at that time? We get great deals on hotel rooms ($115 per night!). As well as presenting a paper on Name Image and Likeness, I attended several other sessions. One presentation I heard was from Daniel Wilson from the Federal Reserve Bank of San Francisco. He and a colleague analyzed the long-run

Students at Augusta University’s (AU) Health Sciences campus will soon spend more time in classrooms and less time searching for parking. A groundbreaking ceremony for an on-campus parking deck was held on Monday near Elm Hall, just off R.A. Dent Blvd. Yvonne Turner, Executive Vice President for Finance, said the university needs modern facilities to support students, faculty, and staff. “The construction of this parking deck is a significant step in meeting those needs and ensuring that our university remains a place where academic pursuits and campus life can thrive,”