Economics

I gave a talk to the Kiwanis Club of Augusta a couple of weeks ago and one question I received was, “How does Augusta compare to other areas of the state?” At the time, I mentioned the strength of Atlanta and Savannah, but am now in a position to present a more complete picture. Using the Labor Market Index (LMI) for all metropolitan areas in the state, and for the state as a whole, Augusta is in the middle of the pack. Over the last year (November 2021-November 2022, the

Everyone knows the name Dr. Martin Luther King, Jr. and his lifelong devotion to the ministry, advocacy, and leadership. Just this week, he was honored with a federal holiday bearing his name. You might not be as familiar with Lessie Price, but she embodies many of the trailblazing traits that shaped the life of Dr. King. As he had a dream embraced by all of America, Price has contributed to fulfilling the dreams of many Aikenites. “I can’t adequately express how much this means to me as the first local

With almost weekly announcements of a new business coming to the state, it’s no surprise that Georgia is consistently ranked as one of the best states for business. WalletHub, a personal finance website, recently ranked Georgia as the sixth-best state to start a business in 2023. WalletHub ranked states in various categories and Georgia ranked in the top 10 in three of them – eighth in growth in number of small businesses, and 10th in cost of living and the average length of work week. The biggest drawback for the

As I reported last week, the Augusta Metropolitan Statistical Area had a strong jobs report for November with employment increasing by 1,300 jobs. Heading into the holiday season, it was no surprise to see that half the jobs were in the leisure and hospitality industry. Retail establishments also increased employment by 100 to a record high of 30,360. That equates to an additional 3,600 jobs from pre-pandemic levels. Professional and business services increased employment by 600 jobs, to a total of 34,250 in that sector. That is a post-pandemic peak,

As more companies and jobs come to Augusta, the need for affordable housing is now more important than ever, according to Janie Terrell Peel. Peel, Director of Sales and Commercial Leasing with Auben Realty, an Augusta-based investment real estate firm, was one of the panelists at a special event hosted for local large and medium-sized businesses, such as SME CPA’s, Augusta Industrial Services, and Azalea Investments, hosted by Augusta Business Daily yesterday. The other two panelists were Augusta Economic Development Authority President, Cal Wray, and ADP’s Augusta Division Vice President

In the first week of 2023, we now know how the Augusta economy did in 2021. The Augusta Metropolitan Statistical Area’s real Gross Domestic Product (GDP) grew by 3.1 percent. Real GDP is the final value of all goods and services produced in the economy in a year, adjusted for inflation. Some sectors of the economy enjoyed strong growth, admittedly from a covid-depleted 2020. For example, durable goods manufacturing was up 20 percent, and educational services by 11.1 percent. Not surprisingly, arts, entertainment, recreation, accommodation, and food services increased by