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Fed’s interest rate hike will trickle down to affect CSRA businesses

Raising interest rates to prod people into spending less to fight inflation may sound counterintuitive, but that’s what the nation’s Federal Reserve System is attempting. While the increments may seem small, they will affect local businesses and consumers. “Raising interest rates is the Fed’s main tool to deal with inflation,” said retired banker Dan Blanton, who had served as CEO of Georgia Bank & Trust (now South State). “The historic data bears out that it does work if you give it time.” On March 16, the Federal Reserve Board decided

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B2B Stories

Simon Says: Glimmer of good news for jobs but inflation still a fear

The New Year brought some cheer to several sectors of the Augusta Metropolitan Statistical Area economy.  The retail sector continued to gain jobs, employment in this sector was up 400 and is close to providing 30,000 jobs. Reassuringly, leisure and hospitality added almost 400 jobs as well. Manufacturing added a further 250 jobs and mining, logging, and construction added 400 jobs. Professional and business services saw an increase of over 600 jobs, following five consecutive months of declining jobs. These job gains were offset by losses of about 400 jobs

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Consumer Stories

AU Health finally gets the green light to build Columbia County hospital

Between 2010 and 2020, Columbia County’s population grew by more than 25 percent, according to the U.S. Census Bureau. Despite this growth, the county still doesn’t have its hospital. The closest hospital is Doctor’s Hospital, which depending on where you live in the county could mean a half-hour drive. But that won’t be the case much longer. Augusta University Health System CEO, Katrina Keefer said she and her staff are currently in the design phase for a new five-floor, 100-bed hospital in Grovetown. It will be located just off Exit

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B2B Stories

Incubator under contract while business tenants are forced to move

The carousel of owners, managers, and tenants will continue to change again at 901 Greene Street in downtown Augusta. Allen Childs and his crew at Roof Savers Georgia, Jeff Brotherton from E35 Media, and other entrepreneurs have 30 days to find a new office as the owner of the building has the business incubator under contract. “We loved it,” Childs said. “The building is beautiful and we like the amenities.” “I loved having a personal office here in Augusta with a modern, industrial style. I’m going to miss the space

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Consumer Stories

Masks are coming off at local businesses

To mask or not to mask – that is the question. Because the number of COVID-19 cases has declined in recent weeks, ABD contacted local business leaders to find out if they have relaxed or even eliminated their mask policies. When the pandemic officially hit the United States in March 2020, most grocery stores, retail shops, and restaurants required everyone, including employees, to wear a mask. While some national businesses haven’t changed their policies yet, many local businesses have. Robyn Kelley, the owner of Trendz Salon located on Riverwatch Parkway

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B2B Stories

Simon Says: More than a third of Georgians worked from home during a pandemic

The Bureau of Labor Statistics has just released the results of a survey of private-sector establishments about their response to the COVID-19 pandemic, which began two years ago. The survey was conducted between July and September 2021 and found that 34.5 percent of firms nationally increased telework. This is the same percentage as in Georgia; in South Carolina, it was 31.2 percent. More than 60 percent of firms plan on keeping the increases permanent once the pandemic is over. Firms also increased their offering of flexible work hours (24.6 percent

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B2B Stories

Mondays with Rick: Protecting our country through economic policies

  Dr. Rick Franza is the Dean of the Hull College of Business who discusses a different, timely business topic each Monday in this column. This week, we take a look at how our national security policy has to involve our economic policy. The interview has been edited for clarity and impact. ABD: When we think of national security, we generally think about the military. But what is the economy’s role in protecting us? Rick: Our national security policy and our economic policy have to be intertwined. You’ve got to

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B2B Stories

Don’t let news headlines dictate your investment strategy, the local financial planner says

Kurt Mueller’s personal investment strategy hasn’t changed a bit since Russia invaded Ukraine, and he has helped his clients avoid panicking about the current uncertainty surrounding the stock market. Mueller, the certified financial planner for Apollon Wealth Management’s Augusta office, called each client to discuss the situation and ease their anxiety. His advice on investment strategy varies based on a client’s age, risk tolerance, and financial goals, among other factors. “Some investors make major changes based on news headlines,” he said. “I’m not sure that’s the correct approach.” In the

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