Economics

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Simon Says: Employment declines in the CSRA

Last week, I reported an improvement in the labor market variables in the Leading Economic Index (LEI). After falling from mid-summer 2022, there was an improvement in the first two months of this year. Unfortunately, the main indicator of labor market health, employment, has yet to show signs of recovery. As suggested by the decline in the LEI since mid-summer, employment in the Augusta MSA has fallen from 245,200 in November to 241,000 in March (see graph). Education and health services, professional and business services and transportation and utilities all

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B2B Stories

Virtual summit highlights Small Business Week

A weeklong event kicked off yesterday afternoon at 1028 Broad Street, at the home of 10Twenty-Eight, a new membership and networking lounge. They are in partnership with the Downtown Development Authority this week to showcase small businesses via social media and the week ends on 1st Friday with a shop small business day. It hardly comes as a surprise that a national survey of small business owners found that their top concerns are the economic impact of inflation and interest rates. This week (April 30-May 6) is National Small Business

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B2B Stories

$7.6 Million grant spurs economic development in CSRA

Communities across South Carolina will share in a more than $1.36 billion pot of grant money from the American Rescue Plan Act (ARPA). Some of the largest grants are coming to local governments in Aiken, Edgefield, and surrounding counties. The funds are being distributed by the South Carolina Rural Infrastructure Authority through its South Carolina Infrastructure Investment Program (SCIIP). The program was created by RIA to be a one-time initiative to invest in water, wastewater, and stormwater systems across the Palmetto State. “The vital infrastructure improvements these funds will deliver

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Bill levels playing field in competition for state contracts

During his visit to Augusta on Monday, Governor Brian Kemp signed House Bill 128 which ensures equity for minority, women, and veteran owned businesses vying for state contracts. “It is going to streamline and expand access to state certifications for minority, women and veteran owned businesses as they navigate the procurement process for contracts,” Kemp explained. “This bill came out of the executive order issued last July directing the Department of Administrative Services to address the challenges these businesses faced in the procurement process. The shared goal of that executive

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Kemp visits Augusta and signs off on legislation to build new James Brown Arena

Gov. Brian Kemp was in Augusta yesterday to sign House Bill 230, which clears the way for a referendum where Richmond County voters can fund an Augusta Entertainment Complex, anchored by a new James Brown Arena. The bill, passed during the 2023 session of Georgia General Assembly, clears the way for a referendum to go before Richmond County voters creating a half cent Coliseum Special Purpose Local Option Sales Tax, or C-SPLOST that will be added to goods and services purchased in the county. “That facility, well over four decades

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Economic Update: Sweet Sound of Success

Who’s causing all that racket? Sounds like Columbia County! Coach Dave Holdeman from The Alternative Board of the CSRA and Augusta Business Daily publisher Neil Gordon discuss a new deal that will allow for a public tennis court in the area. If you have a sweet tooth, you might want to check out Alumni Cookie Dough’s new location with a local coffee shop. In addition, Holdeman reviews three tips to help businesses create welcoming environments for employees. Be the first to get a big, cookie dough-sized scoop on these tips

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Simon Says: Receding Recession?

The Augusta Leading Economics Index has reversed its slide from the summer of 2022 to the end of the year. The latest data for February 2023 shows the index up 0.6 percent using a three-month moving average. The unadjusted change from January is much bigger at 1.9 percent. However, given the fall witnessed in the last two quarters of 2022, the index is below February 2022 levels. Residential building permits increased in both January and February suggesting improvement in the overall housing market, including suppliers such as lumber, masonry and

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B2B Stories

Experts share advice on growing Augusta’s economic base and workforce

The tournament has ended and golf patrons have left town. Now, the focus returns to growing Augusta the other 51 weeks of the year. That was the message to the Women in Business luncheon on April 18, sponsored by the Greater Augusta Chamber of Commerce. Three experts who well know hospitality, downtown development, and economic growth brought their expertise to the luncheon. Bennish Brown, President of Destination Augusta, Margaret Woodard, Executive Director of the Downtown Development Authority, and Cal Wray, President of the Augusta Economic Development Authority explained the selling

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How health (good and bad) impacts your business in the CSRA

Are employees in the CSRA unhealthy? That’s a big yes from a recent study by WalletHub. Not one single southern city made the list for healthiest places to live, but almost all the unhealthiest locations were in the southeast including two in Georgia. Columbus came in at #4 and Augusta was #5 in the Top 10 unhealthy cities. WalletHub’s analysis used 43 metrics to rank the cities, including the cost of medical care, residents’ diets, levels of physical activity, and access to green space. Improving our unhealthy ranking has the

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University to address supply chain cyberattacks

Supply chain leaders predict that food, gas, and computer chips are most at risk of impact in 2023. Who does that impact? Every business and consumer, in other words, all of us. USC Aiken will host a virtual panel discussion to discuss those concerns led by Dr. Hala Strohmier Berry, Assistant Professor of Computer Science and Director of the university’s Center for Cyber Initiatives and Awareness. “Supply chain cyberattacks have been a concern for cybersecurity experts for many years, mainly due to the chain reaction triggered by one attack on a single

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