A defense tech company invests $60 million in a facility in Fulton County and Home Depot scares up some Halloween business with inflatables. – Augusta Business Daily by Mike Petchenik
According to the Guinness Book of World Records, the largest tyre (tire) manufacturer in the world is Lego! Although Lego did not start producing tires for their sets until 1962, by 2010 they were producing more than 380 million tires. The largest real tire manufacturer in the world by revenue is Michelin, which overtook Bridgestone in 2021. Bridgestone had previously held the No. 1 spot for 11 years. Bridgestone opened its off-the-road radial tire plant in Aiken in 2014. At that time, there were 6,818 manufacturing jobs in Aiken County
South Georgia County is worried about a rocket launching site and Stranger Things adds millions to the state’s coffers. – Augusta Business Daily by Mike Petchenik
Last week, I compared the labor market in Augusta to other metro areas in Georgia. However, two counties in the August metro area are in South Carolina (Aiken and Edgefield), so how does Augusta stack up against South Carolina cities? Like Georgia, the fastest-growing labor markets in South Carolina are on the coast. The Labor Market Index (LMI) for Charleston grew at 2.5 percent over the last year and by a whopping 4.7 percent in Myrtle Beach. (The fastest growth in Georgia was Savannah at 3.6 percent). Over the past
Data through the first quarter of 2022 suggests that the Georgia economy remains strong. The Labor Market Index (LMI) for Georgia increased by 2.4 percent in March 2022 from March 2021. The corresponding number for the fourth quarter of 2021 was 2.2 percent. Savannah saw the largest year-on-year increase at 3.6 percent. All metro areas, except Hinesville, saw improved labor market conditions in the first quarter of 2022. The LMI for Augusta increased by 0.8 percent. Employment has increased by 2,300 over the last year and the unemployment rate has
Georgia Power is being sued over Plant Vogtle for cost overruns and Georgia-based restaurants show financial gains. – Augusta Business Daily by Mike Petchenik
Georgia is having a record-breaking year for job creation and USPS is uniquely fighting gas prices. – Augusta Business Daily by Mike Petchenik
Edgefield County in South Carolina had the largest increase in average weekly wage in 2021 for the seven-county Augusta metro area. Wages there increased from $802 per week in 2020 to $874 in 2021, based on recently released data from the Bureau of Labor Statistics. That equates to a 9 percent increase, just enough to compensate for inflation running at 8.6 percent. All counties in the Augusta Metropolitan Statistical Area (MSA) saw increases in average weekly wages, but not enough to keep up with inflation. Burke County in Georgia had
Chip shortages drop several car imports in Brunswick and Georgia leaders woo tech companies from California. – Augusta Business Daily by Mike Petchenik
Dr. Rick Franza, Dean of the Hull College of Business, discusses a different, timely business topic each Monday in this column. This week he talks about preparing to successfully survive a recession. The interview has been edited for clarity and impact. ABD: In a recent survey of CFOs, 100 percent believe we’ll be in a recession in the next 9-12 months. There seems to be no question of if there will be a recession, just how bad it’ll be. How should businesses approach this? Rick: The lesson we learned
