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Economics
B2B Stories

CSRA receives big boost for STEM workforce readiness

Science, technology, engineering, and math may not be your cup of tea, but the CSRA thrives on STEM. Look no further than the economic impact of the Savannah River Site. As ABD has previously reported, the facility delivers an estimated $2.2 billion to the CSRA economy which includes support of almost 16,000 jobs. USC Aiken will be able to secure more equipment and attract more students in STEM fields with $830,000 in funding from Congressionally Directed Community Project Funds (“CDCPF”). The money will be used for the purchase of engineering

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Mitzi Oxford May 30, 2023 No Comments
B2B Stories

Should businesses embrace ESG?

ESG. Three simple letters with complicated connotations. What is it and who is driving it? Environmental, Social, and Governance (ESG) initiatives have gained prominence as some say, they aim to create sustained outcomes that drive value and fuel growth, all while strengthening our environment and societies. In Augusta, we witness ESG in action when influential organizations such as Augusta National Golf Club invests in the Harrisburg neighborhood and supports the Girls and Boys Club, or when WJBF-TV and Murphy Auto Group team up to donate to the school system to

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Mike Petchenik and Mitzi Oxford May 29, 2023 No Comments
B2B Stories

Pioneering women honored for blazing a trail in local history

Art and commerce met on James Brown and Laney Walker boulevards in an area that was once vibrant with black-owned businesses. The art featured a mural by artist, Salonika Rhyne, honoring a group of six pioneering women who helped shape those neighborhoods. The “Women of Empowerment” mural features the faces of Ursula Collins, Rosa Tutt, Marjorie Carter, Margaret Louise Laney, and Rosa Beard, all of whom are no longer alive. The sixth woman was Ruth Crawford, who, at age 108, attended the event and was honored by the crowd. The

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Dana Lynn McIntyre May 29, 2023 No Comments
B2B Stories

“Hub City” designation results in billion-dollar investment

Augusta is one of only five cities chosen for President Joe Biden’s Investment in America project. Fort Gordon, the Medical College of Georgia, and the SRS were cited in the announcement as forming the communities around Augusta, as part of the “Hub City” designation which will result in $1.4 billion in private-sector investments. The goal of the program is to train workers and connect them to jobs. In addition to Augusta, Baltimore, Maryland, Columbus, Ohio, Phoenix, Arizona, and Pittsburgh, Pennsylvania will be part of the regional push to ensure a

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Dana Lynn McIntyre May 22, 2023 No Comments
ABD Extra

Economic Update: ABD Extra Conference and Expo Edition

In this week’s economic update, we take a look at the employee recruitment and retention panel discussion from ABD’s Conference and Expo last week! Darin Myers, who is co-owner of TAB CSRA, speaks about interviewing job candidates and creating company values. This panel was moderated by Mike Petchenik who creates the weekly Georgia Business Minutes and other media for Augusta Business Daily.

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Darin Myers May 22, 2023 No Comments
ABD Extra

Simon Says: Looking at the labor market

The Augusta Metropolitan Statistical Area had the worst labor market over the last year of all metro areas in the state of Georgia. The Labor Market Index (LMI) for Augusta fell 0.4 percent from March 2022 through March 2023. Only Hinesville and Warner Robins also saw declining LMIs. The Georgia LMI grew by 0.9 percent over the past year. Columbus had the best labor market over the last year. Across the state, employment increased by 2.8 percent, or 133,400 jobs over the last year. By contrast, Augusta lost 1,100 jobs

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Dr. Simon Medcalfe May 22, 2023 No Comments
B2B Stories

Georgia and South Carolina among top states with highest job resignation rates

As the economy has continued to recover from the effects of the COVID-19 pandemic, there has been a surge in job openings, with some employers having a difficult time filling all their open positions. Millions of Americans are quitting their jobs each month, even in the face of high inflation. The incentives available from changing jobs, as well as a desire to get away from careers impacted most by COVID-19, are two big factors driving what’s been dubbed the “Great Resignation.” As a result, new job applicants have a lot

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Staff Report May 17, 2023 No Comments
B2B Stories

IRS tax rates for 2023 reflect inflation

After a year of soaring inflation, the IRS has raised the dollar amounts needed to qualify in each tax bracket for 2023, along with increases in standard deductions and other areas. The IRS has seven tax rates based on income levels – 10 percent, 12 percent, 22 percent, 24 percent, 32 percent, 35 percent, and 37 percent. The rates for 2023 have remained the same but the amounts needed to qualify for each bracket have increased. For example, in 2022, the 22 percent bracket for those married and filing jointly

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Gary Kauffman May 15, 2023 No Comments
ABD Extra

Simon Says: Here’s the latest numbers on recruitment and retention

I am looking forward to the Augusta Business Daily Conference and Expo on Wednesday. As a primer for the recruitment and retention panel discussion at 11 a.m., I wanted to provide statistics from the Bureau of Labor Statistics (BLS) on recruitment and retention. By far, the most popular strategy for recruiting is higher pay, with 7.1 percent of firms in Georgia and 7.6 percent of firms in South Carolina using this strategy. Offering higher pay is the most popular choice across all industries. The next most popular strategy is expanded

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Dr. Simon Medcalfe May 15, 2023 No Comments
B2B Stories

The 411 on the CSRA labor market

Most local businesses have experienced employee shortages. Why are they continuing and what is the solution if any solution exists? Those were the million-dollar questions and the focus of the Augusta Metro Chamber of Commerce’s member economic luncheon. It came as no surprise when guest speaker, Dr. Melinda Pitts, Research Center Director from the Center for Human Capital Studies at the Federal Reserve Bank in Atlanta, pointed to the COVID-19 pandemic as being responsible for the upheaval in America’s economy. Even with the end of the public health emergency on

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Dana Lynn McIntyre May 11, 2023 No Comments
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