Economics

B2B Stories

Local weather impact on the economy

Editor’s note: As a former meteorologist in Cincinnati, Nashville, and Columbus, GA, Simon Medcalfe’s story about climate change and future economic impacts in the CSRA intrigued me. I reached out to discuss the topic in depth with a current weather expert. If you are an Augustan or have lived in the CSRA long enough, you know that weather can have a huge financial impact. The first example that comes to mind, is the flooding of October 1990, when more than a foot of rain fell in two days, including 8

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B2B Stories

Augusta airport prepping for this year’s tournament

The countdown has started at Augusta Regional Airport heading into Masters Week 2024. The first indication of what to expect came in an announcement from Delta Airlines just days before the Aviation Commission’s monthly meeting. Delta, one of the two airlines that provides daily service at Augusta airport, announced nine routes, six of which are new, with more than 1,300 seats daily to Augusta. That represents nearly double the level of service. The expanded schedule will feature new routes from Washington, D.C., Boston, and Austin. There will be flights from

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B2B Stories

Providing Value: Order Qualifiers and Order Winners for a Target Market

After a very enjoyable first semester back in the classroom, I am now in the third week of classes for the Spring Semester at Augusta University. This semester, I am teaching two courses that focus on operations and supply chain management (O/SCM); one at the undergraduate level and one in the MBA program. While the study of O/SCM delves into such topics as process analysis and improvement, product and service design, capacity analysis and planning, quality management, inventory management, sourcing, and logistics, the essence of O/SCM in a business is

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B2B Stories

Simon Says: Improvements in the LEI

The Augusta Leading Economic Index (LEI) increased by 0.8% on a monthly basis and 0.2% on a three-month moving average in November. Overall, the LEI is 0.1% higher than a year ago, the first annual increase since October 2022. Four out of the five components in the index improved in November from October. Residential Building permits increased by 9.6% and initial claims for unemployment insurance fell by 6.8%. The Dow Jones Industrial Average had a strong end to the year, including an 8.4% gain in November. Inflation fell a little

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Simon Says: LMI shows signs of slowing

In November, employment in the Augusta Metropolitan Statistical Area (MSA) fell by 400 to 244,800. Unemployment remained at 3.8% for the seventh consecutive month. 170 persons left the workforce and average weekly earnings decreased by $8 to $980. The average hours worked fell to 34.1. Overall, the Labor Market Index (LMI), which is a component index of the five labor market indicators described above fell 0.2 percent. The three-month moving average continued to be positive, and the index is above the level of a year ago. However, the rate of

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B2B Stories

Georgia to follow suit in healthcare changes?

A recent change in a South Carolina law is credited with opening the door for a new, multi-million dollar healthcare facility in North Augusta. Now, Georgia is considering a similar change. The change was cited during Friday’s announcement of a new multispecialty clinic being developed by Augusta Oncology in the former Medac Building on Bluff Avenue. “That begins with the Lieutenant Governor and the legislators that you see behind me,” said Brett Brannon, President and CEO of Palmetto Peach Development, which is preparing the building. “Without their efforts over many

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B2B Stories

$3 million in dividends distributed to SRP members

It was an after-Christmas gift in the bank for SRP Credit Union members. A Loyalty Dividend was designed and paid out just after the holiday to reward SRP members and to recognize the financial strength of the Credit Union. In 2022, SRP’s Board also paid a Loyalty Dividend totaling over $1.5 million. This year, the amount has doubled to over $3 million. “The amount members received was based on the member’s account(s) relationship they have with SRP. All members did not receive the same amount of the Loyalty Dividend,” according

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B2B Stories

Medical/Economic partnership to create 250 jobs

An 8% increase in cancer patients over the last two years at Augusta Oncology Multispecialty Clinic is leading to a state-of-the-art cancer treatment center in the former Medac Building on Bluff Ave. A partnership with AOMSC, Coronis Health, and Palmetto Peach Development was announced there Friday afternoon in North Augusta. Medac, a medical billing company, opened in 2015. When Coronis acquired Medac, Brett Brannon (pictured at far left) saw an opportunity. He’s President of Palmetto Peach Development and also chairman of the board of the non-profit North Augusta Forward, which

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B2B Stories

Major investment in electric buses and training

Students in the Richmond County School System will benefit from a $1 billion federal investment in clean energy buses, while Goodwill prepares to train the workforce needed to support the electric vehicle industry. In a news release, Senator Raphael Warnock (D-Ga) and Environment Protection Agency (EPA) Administrator, Michael Regan said the money is through Warnock’s Clean Commute for Kids Act that was included in the Bipartisan Infrastructure Law. The bulk of the money, nearly $60 million, will go toward funding 25 of the buses for RCSS, along with buses for

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B2B Stories

Major project at Savannah River Site will create 1,000’s of jobs

Savannah River Nuclear Solutions (SRNS) continues to lay the groundwork to be ready to resume Pit production on-site by 2035. The immediate need will be to staff the Plutonium (PU) Modernization Program. Those individuals will develop and train the workforce needed for the Savannah River Plutonium Processing Facility (SRPPF). The National Nuclear Security Administration (NNSA) approved the Workforce Development Program Plan opening the way for scholarships to cover educational and training at area colleges and universities. “SRNS has recognized the need to engage in workforce planning for the plutonium pit

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