The weather outside was not frightful and the shopping was delightful for retailers between Black Friday and Cyber Monday. Mike Petchenik has a sled full of good news in today’s Biz Bits.
Editor’s note: If you read Dana Lynn McIntyre’s story from the Georgia Chamber Foundation, you know the struggle is real for finding workers. However, there is a bright spot in the latest employment numbers for Augusta. The Augusta Labor Market Index increased 0.2 percent in October from September. This constitutes five consecutive months of growth. The index now stands 0.3 percent higher than a year ago, the first time it has shown year-on-year growth since October 2022. Three components of the index grew month-on-month. Employment increased by 1,000 to stand
Gloomy predictions for a less-than-healthy holiday sales season were dispelled by a report this week from the National Retail Federation (NRF). During the five-day period from Black Friday through Cyber Monday, NRF found a record 200.4 million consumers hit stores and websites. That surpasses last year’s 196.7 million and far exceeds the NRF’s prediction of 182 million shoppers. “We attribute that turnout to a number of factors certainly,” said NRF President and CEO, Matthew Shay. “It speaks to the way consumers are feeling, but also the deals that were out
That’s just the question Norman Aldredge, owner and chef at Zip Chef, asked at ABD’s October Conference and Expo. See what Angela Swarts, franchise owner of Spherion Augusta, says employers need to know.
There’s no doubt that tax incentives have been effective in attracting new businesses in the CSRA and across the state, but a panel of Georgia lawmakers is holding meetings to make sure there is a balance. The Joint Tax Credit Review panel is an offshoot of the 2023 legislative session. The credits are to attract new businesses to locate in the Peach State. Elected officials want to determine which credits are working, which aren’t, and if any need to be revised or terminated. “They are designed to stimulate economic growth.
Given my record in forecasting sporting events, I may not be the best person to provide an economic forecast. Nevertheless, that is what I will be doing at 7:30 am on Thursday, December 7th, in the Roscoe Ballroom on the Augusta University Summerville Campus. The event is free and open to the public, but we ask that you register by emailing hull@augusta.edu, so we can manage the food and beverages appropriately. Last year, I presented four indicators of recession and two of them indicated an economic downturn and two did
CSRA small businesses hope shoppers will remember the old saying, “Home is where the heart is,” and support local merchants this season. The biggest shopping day of the year is Black Friday, the day after Thanksgiving when the Christmas shopping season officially begins. Traditionally, shoppers head to the big box stores to score bargains. But a day later, the spotlight turns to small, local businesses for Small Business Saturday. More than a dozen businesses in downtown Augusta will participate in the third annual Small Business Saturday (SBS) Crawl, sponsored by
It’s clear that workforce attitudes are evolving. Look back at ABD’s October Conference and Expo where Angela Swarts, franchise owner for Spherion Augusta, speaks about what companies should consider as more employees demand flexible schedules.
A robust economy paved the way for South Carolina to ease a tax paid by businesses. For the third year in a row, the state’s unemployment insurance (UI) tax rates will decrease or hold steady in 2024. Gov. Henry McMaster (R) made the announcement earlier this month, saying there is no better time to be in business in the Palmetto State. “The state’s leadership has worked hard to make strong financial decisions that maintain a healthy unemployment insurance trust fund which will benefit employers in the coming year,” said McMaster.
It’s been a banner year for events in the CSRA and with that comes a healthy chunk of money collected through accommodation taxes. Building on those success stories and creating a new event resulted in requests for dividing up the bounty. The funds are collected through the state’s 2% accommodations tax (ATAX) from visitors staying in hotels and similar lodgings. North Augusta’s pot has grown steadily. In 2021, the city had $76,065 to distribute. That climbed to $140,450 last year. Members of the North Augusta Accommodations Tax Advisory Committee reviewed
