Economics

B2B Stories

Multimillion-dollar projects announced in South Carolina

Two recently announced economic development projects will mean a combined $333.7 million investment and create 225 new jobs for two counties. In Bamberg County, Circular Composite Solutions (CCS) has committed $53.7 million to a facility that will create recycled wood and plastic pallet components, creating 70 jobs. In neighboring Orangeburg County, a $280 million project by Carolina Renewable Products (CRP) will add 155 new jobs. It will be a next-generation biomass-to-renewable diesel facility. Will Williams, President and CEO of Western SC, said the developments will impact more than just Bamberg

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Simon Says: Augusta growing economy over last 5 years

Publisher’s Note: One of the impacts of the government shutdown is that the Bureau of Labor Statistics has not released any economic data this month. It is only scheduled to release the Consumer Price Index on October 24th to meet statutory deadlines necessary to ensure timely payment of social security benefits. That didn’t stop AU/ABD Economist, Dr. Simon Medcalfe from digging into other numbers. Other economic data is available from the Federal Reserve Bank of Atlanta, although this is based on a range of government data and is unlikely to

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Simon Says: How Helene impacted job and rate of pay

Publisher’s Note: As you probably witnessed in the months following Helene’s wrath, workers were out and about helping rebuild. Damaged homes, businesses, and public infrastructure were getting rebuilt. Demand was created for construction, engineering, skilled trades, and logistical movers. Federal and relief funds stimulated recovery efforts, but how much? The numbers may surprise you. In terms of employment, both Columbia County in Georgia and Aiken County in South Carolina saw employment increase from December to March by 1.89% and 0.1% respectively. Moreover, March employment in both counties was higher than

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Progress on $184 million business development

A building that will house 350 new jobs is taking shape in the Augusta Corporate Park off Mike Padgett Highway. GF Casting Solutions will produce lightweight components made from aluminum, iron, and other metals for the mobility and energy industries. Situated across Valencia Way from Aurubis Richmond, LLC, GF Casting will be the third major employer to open in the park, along with Starbucks. The 1,800-acre park in South Augusta is essentially full, with one more site being prepared for future use. “The site at the end (of Valencia Way),

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Simon Says: Finally, some good news on the employment front

After three consecutive months of job losses, employment rose by 800 in August from July. July’s number was revised upwards by 1,100, although it was still lower than June. Professional and Business services saw the largest increase in employment in August, at over 550. Manufacturing also saw a small increase, and manufacturing employment is the highest since November 2024 at 24,085. The government sector saw large employment losses in August across all three levels of government. Federal employment fell by 200 and has fallen by 500, or 6%, since February,

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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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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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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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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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