Economics

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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B2B Stories

Simon Says: Augusta Labor Market is improving

The Augusta Labor Market Index remained unchanged in July from June. It is 1.0 percent higher than a year ago. As previously reported in this column, employment fell in July, but other measures of labor market activity remained strong. Average weekly earnings rose by 2.6 percent ($30.70) over the month, and average weekly hours worked increased by 36 minutes. The unemployment rate remained at 4.2% and the labor force fell by just 0.1 percent. Since the beginning of the year, the Augusta LMI has increased by 0.5 percent, faster than

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B2B Stories

EXCLUSIVE: Airport leader reacts to “deep negotiations” with prospective airline

A curious removal on the Tuesday, September 2nd agenda at the Augusta Richmond County Commission meeting is shedding light on efforts to bring a 3rd airline to the Augusta Regional Airport. ABD received a copy of the agenda, which read in part: “Currently, AGS staff are in advanced negotiations with a prospective airline,” read the agenda item. “If this comes to fruition, the prospective airline will provide direct service to/from Augusta to two new markets with the possibility of additional future routes. Following a Wednesday, September 3rd meeting of an

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B2B Stories

New tenant moved into the former Procter and Gamble Building

A new sign has been installed on the former Procter and Gamble building on Mike Padgett Highway and Marvin Griffin Road, announcing the arrival of Richmond County’s newest corporate citizen. Generac, the Wisconsin-based manufacturer of portable and backup generators for residential and commercial use, has opened a distribution center. The 500,000 sq. ft. center joins E-Z-Go Textron on the old P&G property. “Our newest facility here in Augusta, Georgia, today is a big reflection point. This has been a large investment for us as we’ve cemented our south and Southeast,”

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B2B Stories

Simon Says: CSRA housing getting expensive

When I moved to Augusta over 20 years ago, one of the selling points was its affordability, especially for housing. Unfortunately, that may be changing. According to the Home Ownership Affordability Monitor tracked by the Federal Reserve Bank of Atlanta, housing in the Augusta Metropolitan Statistical Area (MSA) has been unaffordable since May 2022. Housing unaffordability is defined by the US Department of Housing and Urban Development as annual costs of home ownership exceed 30 percent of the annual household income. Costs include principal and interest on mortgage loans, associated

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B2B Stories

Celebrating a $33 million expansion at Augusta airport

A dedication ceremony was held for a major expansion to a legacy business at Augusta Regional Airport (AGS), just a year after construction began. The expansion includes a new hangar at StandardAero, an aircraft maintenance, repair, and overhaul services business that has been at the airport for over 50 years. Russell Ford, Chairman and CEO of StandardAero, said the team in Augusta is part of an industry he believes is one of the most impactful in recent history. “Without the aerospace industry, there wouldn’t be a lot of materials and

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B2B Stories

Businesses welcome athletes with special perks

One of Metro Augusta’s largest sporting events is offering local businesses an opportunity to welcome participants and volunteers. The Augusta Sports Council is inviting businesses in Georgia and South Carolina to participate in this year’s IM Local program. It is connected to the annual IRONMAN 70.3 Augusta triathlon, set for Sept. 28 this year. “We saw a need and an opportunity to promote what we have locally, to the athletes that were coming, the family and friends that they were bringing with them, but also for the volunteers that were

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B2B Stories

CSRA’s current and future growth needs

An examination of economic development and growth in metro Augusta today and for the future is the focus of an event planned in Columbia County. Future Forward: A CSRA Development Summit, organized by the Columbia County Chamber of Commerce, is set for Sept. 4 at the Columbia County Exhibition Center in Grovetown. “I think it’s an opportunity for us to really look at the future of not only Columbia County, but our region, and how that’s going to impact our business community, and our community at large,” Russell Lahodny, President

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B2B Stories

Jackson Hole: Beautiful Economic Views?

At the end of last week, the Federal Reserve held its annual “Jackson Hole Economic Symposium,” a three-day conference hosted by the Federal Reserve Bank of Kansas City. The conference is attended by central banker leaders, academics, financial industry leaders, journalists, and government officials to discuss world events and financial trends and potentially provide insights on the direction of interest rates. The symposium is held at the Jackson Lake Lodge in Grand Teton National Park in Jackson, Wyoming. I had the pleasure of spending a few days in Jackson and

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