Economics

B2B Stories

Augusta Regional targets Midwest for new flight

Augusta Regional Airport leaders remain focused on bringing a third carrier to the Garden City and with that, service to the Windy City. Members of the Airline Service Committee of the Aviation Commission were updated by Airport Executive Director Herbert Judon, Jr. A highlight of his presentation was a plan to seek a grant from the U.S. Department of Transportation (USDOT). The Small Community Air Service Development Program (SCASDP) is designed to help smaller communities address air service and airfare issues. He said this is the same grant the airport

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B2B Stories

Make it 12 in a row for business success

On the heels of the $800 million impact of Aurubis and other recent CSRA business expansions comes word of yet another recognition. Governor Brian P. Kemp, in conjunction with the Georgia Department of Economic Development (GDEcD), has announced that the state has been recognized as the No. 1 state for business by Area Development magazine for the 12th year in a row, marking an unmatched record of success and consistency in economic development. “For 12 straight years, site selectors who decide where companies invest have voted Georgia as the ‘Top State for Business’

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B2B Stories

Up and running at Aurubis

An $800 million plant in the Augusta Corporate Park that employs more than 200 people is now fully operational. Aurubis Richmond, LLC held a ceremony to mark its “first melt,” the process of refining scrap metals for new uses. “We’re talking about a broad variety of recycling materials that are typically end-of-life or production scrap. We’re talking about electronic scrap, printed circuit boards, metal shredders,” David Schultheis, President and Managing Director of the plant, told ABD. “Our main products here are blister copper and then a lot of other metals,

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Progress but work remains one year later

Damaged buildings, thousands of trees lost, and a $6 million cleanup faced Augusta University one year ago. Hurricane Helene devastated parts of the CSRA as a full-strength hurricane, something the region had never experienced. The one-year anniversary is this Saturday. There are still areas of destruction and scars marking where trees and buildings once stood, but there are also signs of recovery. At the Summerville campus of Augusta University (AU), damaged roofs and facades have been repaired, but the decorative ironwork at the main entrance off of Walton Way is

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B2B Stories

Simon Says: Signs Augusta’s Economy is Weakening

4 of the 5 key indicators of the CSRA’s economy are not where they should be. Hence, the Augusta Leading Economic Index (LEI) fell 0.6 percent in July from June. It remains 0.3 percent higher than July 2024. Of the five components in the LEI, only the Dow Jones Industrial Average improved. The two indicators of future labor market vitality declined. Initial claims for unemployment insurance increased by 20 percent, and job openings fell by 4.3 percent. We have already seen a weakening of the local labor market in recent

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B2B Stories

Part 2: Impact of tariffs on imports, sales, and the Georgia Ports

Georgia’s deepwater ports are responsible for $174 billion in sales, representing 11% of the state’s total sales. That’s $77 billion in Gross Domestic Product (GDP), or 9% of Georgia’s total GDP. More than 650,000 jobs, full-time and part-time, are supported by the ports. High on the list of imports coming into the Georgia ports are retail consumer goods, including furniture, automotive, and electronics. Goods that are then distributed across the CSRA, Georgia, and the rest of the country, generating income for businesses. A recent report by the National Labor Federation

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Supply Chain Expert says CSRA businesses should use Georgia’s ports

Late last week, members of the Metro Augusta business community learned Georgia’s deepwater ports are a major driver of the state’s economy, accounting for $77 billion of the state’s Gross Domestic Product (GDP). That is 9% of Georgia’s total GDP. An Augusta Professor of Supply Chain Management and Operations says there are many benefits for local manufacturers and businesses to import and export their products through Savannah and Brunswick. Fabio Batista, Chief Commercial Officer for the Georgia Ports Authority (GPA), spoke at the September Member Economic Luncheon sponsored by the

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B2B Stories

Simon Says: Interest Rates Will Get Cut

The Federal Open Market Committee of the Federal Reserve (Fed) meets tomorrow and Wednesday to determine interest rates. Given recent economic news, most analysts expect the Fed to cut interest rates. The Fed has a dual mandate to ensure stable prices and maximum employment. In this respect, it is different than many other central banks, who are generally only tasked with keeping inflation low. To make the Fed’s task more difficult, they only have one tool, interest rates, to accomplish these dual goals. When you hold a hammer, everything looks

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B2B Stories

Fall in Augusta means art, music, and money

For more than 40 years, Arts in the Heart of Augusta (AITH) has had a growing impact on the local economy. This year, it is closing in on $2 million. Destination Augusta estimates AITH draws approximately 100,000 to Augusta, and the impact has grown exponentially. The 2023 AITH brought in $1,739,000. That grew to $1,849,000 in 2024. The tourism experts are predicting that this year could be bigger, with an estimated $1,872,000 impact. “Our hotels are full; our rental car agencies are full. We employ for the festival, a lot

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B2B Stories

The Fed again: The players, the game, and you

It was only two weeks ago in this space that I commented on the Federal Reserve’s symposium in Jackson Hole and what it might mean for interest rates and the U.S. economy. So, you might be surprised that I am addressing the Fed again so soon, especially since I am not an economist, finance expert, or banker. However, since there is so much happening with the Fed that will likely impact us as business people, consumers, and investors, I thought it might be helpful to summarize what is going on

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