The State of Georgia broke records for the third year in a row in regards to economic development as total investments in facility expansions and new locations totaled more than $24 billion during fiscal year 2023 (FY23).
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Six Regions in Virginia to Receive Economic Development Funding
Economic development organizations throughout the commonwealth are receiving $2.9 million in eight grant awards through Growth and Opportunity for Virginia, an organization that focuses on fostering sustainable regional economic growth in the commonwealth.
“These GO Virginia projects exemplify our commitment to fostering economic growth and creating opportunities across various regions,” said Gov. Glenn Youngkin. “By removing barriers to entrepreneurship, improving industrial sites and increasing the number of Virginia’s shovel-ready sites, we are propelling the growth of targeted industries and clearing pathways for sustainable employment.”
Read the full storyGovernor Lee Delivers Annual Address to the Nashville Area Chamber of Commerce
Tennessee Governor Bill Lee addressed the Nashville Area Chamber of Commerce on Thursday at the JW Marriott in Nashville. In attendance of the annual event were Chamber members, economic development investors, and other Nashvillians.
Read the full storyArizona Sees Record Number of Jobs in the State
The Arizona Commerce Authority (ACA) revealed Monday that efforts to work with companies to bring jobs to Arizona have paid off, bringing in the most jobs seen by the organization in a single year.
“For the second year in a row, Arizona economic development efforts broke records. During the 12-month fiscal period that ended June 30, 2022, the Arizona Commerce Authority (ACA) and local economic development agencies successfully worked with companies that committed to creating a projected 24,186 new Arizona jobs – a single year record. Those companies also committed to investing $10.75 billion in local communities,” according to the ACA.
Read the full storyState of Tennessee Wins First-Ever ‘Platinum Shovel Award’ for Outstanding Economic Development Efforts
The State of Tennessee was recently honored at Area Development’s annual Shovel Awards by being the recipient of the first-ever ‘Platinum Shovel’ which “recognizes states that went beyond the Gold standard for job creation and investment.”
Read the full storyCommunities Grant Program to Send $45 Million to 12 Connecticut Cities for Improvement Projects
A total of 12 cities will be receiving funding through Connecticut Gov. Ned Lamont’s new grant program.
The governor announced $45 million will be awarded through the Connecticut Communities Challenge Grant Program, which works to leverage $74 million in nonstate, private funding to prop up projects aimed at improving livability and vibrance of cities.
“Investing in our communities is a key part of our plan to accelerate long-lasting and equitable economic development in Connecticut,” Lamont said in a release. “This new grant program we launched will have wide-ranging impacts as we emerge stronger than ever from the pandemic, creating new jobs, improving the vibrancy and quality of life in our neighborhoods, and making all corners of the state even more attractive for investment and opportunity.”
Read the full storyTennessee Coalition for Open Government Director Deborah Fisher Talks About the Tri-State Pact and Gives an Update on McKinsey Report Open Records
Friday morning on The Tennessee Star Report, host Leahy welcomed Tennessee Coalition for Open Government Director Deborah Fisher to the newsmakers line to discuss the status of the McKinsey COVID response open records request and the Tri-state Pact economic development plans.
Read the full storyCommentary: Be Grateful for Global Warming
Present-day warming has been termed a crisis, and modern economic development a cancer. But what if I told you that much of the recent advancement in human prosperity would have been impossible without the temperature increases of the last several hundred years?
A key to the sustenance of any society is food security. Today’s world should be grateful for today’s relative warmth as well as higher levels of atmospheric carbon dioxide levels because both have been instrumental in propelling plant growth globally.
A review of human and climate history reveals a strong link between the rise and fall of temperature and the rise and fall of civilization—just opposite of what the climate doomsayers are telling you.
Read the full storyState of Tennessee Awards $8 Million in Grants to Assist Economic Development Projects
Governor Lee and the Tennessee Department of Economic and Community Development awarded a dozen grants to communities across the state to assist economic development programs.
The grants, which total $8 million, are to be used for infrastructure and engineering improvements on industrial sites throughout the state.
Read the full storyTennessee Coalition for Open Government Executive Director Deborah Fisher Talks Lack of Transparency and the Uncollected Clawbacks
Thursday morning on the Tennessee Star Report, host Michael Patrick Leahy welcomed Executive Director of Tennessee Coalition for Open Government, Deborah Fisher in studio to discuss reports lacking information on clawbacks yet redeemed.
Read the full storyNew Georgia Report Shows Investments, Job Creation Increasing Around the State
Georgia officials have announced that economic development projects throughout the state during fiscal year 2021 have delivered record-setting jobs and investments. This, according to a press release that Georgia Gov. Brian Kemp and officials with the Georgia Department of Economic Development (GDEcD) published this week.
Read the full storyEconomic Development Roundup: Green Hydrogen Fuel Production Plant Slated for Georgia
Hydrogen solutions provider Plug Power will invest $84 million to open a green hydrogen fuel production plant in Kingsland, Georgia, Gov. Brian Kemp’s office said.
The investment is expected to create 24 jobs in Camden County. Plug Power’s GenKey solution combines critical elements to power and fuel and provides services to Amazon, BMW, Southern Company, The Home Depot, Group Carrefour and Walmart.
“With this hydrogen production plant, we are expanding our green hydrogen network to provide zero-emissions fuel to customers in Georgia and across the Southeast,” Plug Power CEO Andy Marsh said. “Investing in Camden County is the right choice to support Plug Power’s continued growth.”
Read the full storyFlorida Job Growth Grant Fund Accepting Applications
The Florida Department of Economic Opportunity (DEO) tweeted on Monday they are accepting proposals for new projects to be a part of the Job Growth Grant Fund. DEO is accepting applications coming off Florida Governor Ron DeSantis signing Florida’s $101.5 billion budget last week.
The grant program is getting an extra $50 million from this year’s budget and over $24 million left unspent from 2019. In all, the program will have over $74 million to spend on communities seeking “workforce training and public infrastructure projects to support growth and employment in Florida.”
Critics Question Gov. Whitmer’s $1.3 Million Spending on Holland Private Sector Jobs
Gov. Gretchen Whitmer announced Thursday the Michigan Economic Development Corporation (MEDC) is spending taxpayer money on private business Mission Design and Automation in Holland Charter Township.
Mission will house new large-scale automation projects and space for offices and meeting rooms, but critics argue government funds shouldn’t be used to subsidize private enterprises.
Michigan awarded the private company $400,000 in taxpayer money through the Jobs Ready Michigan Program grant. The project is expected to generate a total private investment of $5.3 million and create 109 well-paying new jobs over two years.
Read the full storyBlue State Blues: All-Star Panelist Clint Brewer Talks About the Consistent Migration to Tennessee
Thursday morning on the Tennessee Star Report, host Michael Patrick Leahy welcomed all-star panelist Clint Brewer in studio to discuss the influx of blue state refugees into Tennessee and signs of economic growth in Metro government decisions.
Read the full storyCrom Carmichael Examines Foreign Economic Development with Dictators and Lobbyist Cronies and Predicts a Republican 2022 Candidate
Wednesday morning on the Tennessee Star Report, host Michael Patrick Leahy welcomed the original all-star panelist Crom Carmichael in studio to discuss the United State’s foreign economic development policy, cronyism, and lobbyists of Washington and speculates the Republican candidate for 2022.
Read the full storySpirit Airlines Moving Control Center to Williamson County to Escape South Florida’s Hurricanes
Miramar, Florida-based Spirit Airlines decided it likes the Volunteer State’s spirit and has decided to move its control center to Franklin.
Read the full storyOhio Governor’s Office of Workforce Transformation Seeks Businesses Who Want Up to $2K to Help Train Workers in Credentialed Technical Skills
A state program that helps businesses find and train employees with the skills they need is accepting applications from employers interested in joining the effort.
Read the full storyJobsOhio Receives ‘Clean’ Audit Scrubbed of Information Such as Who Gets Money
JobsOhio has received a clean audit for its most recent fiscal year, but what does that mean?
Read the full storyFranklin Lands Mitsubishi Motors Headquarters With 200 Jobs Moving Here Beginning in August
Mitsubishi is saying “buh bye” to California’s high taxes and moving its headquarters to Franklin, multiple media outlets report. Mitsubishi was one of two final Japanese car manufacturers to have its headquarters in California, CNET said. Honda will be the lone Japanese holdout. Moving to Franklin will allow the company to be closer to its Alliance partner Nissan, which moved there around 13 years ago. Nashville Business Journal added that other Middle Tennessee automotive brand names include Bridgestone, General Motors, Hankook and suppliers and other related companies. The move will include about 200 jobs and an $18.25 million investment in corporate jobs including legal, finance, IT, sales and dealer operations. Mitsubishi is negotiating a long-term office lease plus a lease for interim use. A move to a temporary space will start in August and be done by the end of the year, Nashville Business Journal said. Automotive News said Mitsubishi cited Franklin’s high-tech community, cost savings, business-friendly work environment and, again, proximity to Nissan. Mitsubishi’s decision is yet another loss for Southern California, referred to in 2000 as “Motown West” for the concentration of automotive brands that based their U.S. operations there. Since then, the brands under Ford’s former…
Read the full storyNashville Draws $70 Million Corporate Finance Headquarters
A global asset management firm will build a $70 million corporate headquarters in Nashville, the state announced in a press release Wednesday, May 2. Tennessee Gov. Bill Haslam, Department of Economic and Community Development Commissioner Bob Rolfe and AllianceBernstein L.P. (AB) officials made the announcement. The relocation of its company headquarters will create more than 1,000 corporate jobs, including positions in finance, IT, operations, legal, compliance, internal audit, human resources, sales and marketing, WSMV reported. “Tennessee is home to many world-renowned brands and we’re extremely proud to welcome AllianceBernstein, a global financial leader, to Nashville,” Haslam said in a press release. “Tennessee’s pro-growth policies continue to attract international companies to our state, providing fantastic job opportunities for our citizens. AB’s decision to bring 1,050 corporate office jobs to Nashville is an incredible win for our state and shows that Tennessee will lead in creating high quality jobs.” Rolfe said in the press release, “Since 2011, Tennessee’s financial industry has grown at the second fastest rate in the Southeast, creating approximately 24,500 jobs.” The year-long search for a new location started with 30 cities. In the end, Bernstein said Nashville was the clear choice, WSMV reported. AllianceBernstein’s headquarters are currently in New York…
Read the full storyDiane Black Challenges Memphis Regional Megasite
Diane Black is taking on a sprawling West Tennessee industrial site that includes a 35-mile-long wastewater pipeline. The Republican gubernatorial candidate blasted the Memphis Regional Megasite in an op-ed that appeared in the April 25 Commercial Appeal. The state government has left West Tennessee “behind” through neglect, she wrote. “Infrastructure is a big part of that,” Black wrote. “It is hugely important both to Memphis and to rural West Tennessee. I’ve spoken with representatives from the Trump Administration and my congressional colleagues about finishing I-69 and I-22. These projects are almost complete, they simply require a governor committed to getting it done. “I will continue to work with the President and Vice President to make sure West Tennessee gets the federal infrastructure dollars it needs to complete road projects and bring broadband to rural counties.” The megasite consists of 4,100 acres of industrial real estate, according to the Tennessee Department of Economic and Community Development website. Black calls the megasite a “boondoggle” 13 years in the making that has cost $140 million and needs an additional $100 million and still is a few years from having completed infrastructure. The wastewater pipeline will cost at least $75 million, she said, and some estimate the…
Read the full storyHaslam’s IMPROVE Act Includes Same ‘Economic Development’ That Lost Millions in TNInvestco
“A performance audit from the Tennessee Comptroller’s Office has revealed the State of Tennessee has only recovered $5.3 million of its initial $200 million investment in the TNInvestco program,” according to a statement dated November 10, 2016, under the name of Justin P. Wilson, Comptroller, referring to a performance audit report. The statement from the Comptroller focused primarily on the TNInvestco program from the 60-page October 2016 “Performance Audit Report” produced by the state’s Comptroller’s office on Governor Haslam’s Department of Economic Development and Tennessee Technology Development Corporation. The Report was conducted by the Comptroller’s Department of Audit, Division of State Audit, with the report dated October 25, 2016, signed by Director, Deborah V. Loveless, CPA and addressed to The Honorable Ron Ramsey, Speaker of the Senate; The Honorable Beth Harwell, Speaker of the House of Representatives; The Honorable Mike Bell, Chair, Senate Committee on Government Operations; The Honorable Jeremy Faison, Chair, House Committee on Government Operations; and, Members of the General Assembly; and The Honorable Randy Boyd, Commissioner, Department of Economic and Community Development. At the time of the audit, the program was in in its sixth year, having been approved by the Tennessee legislature in 2009. With…
Read the full storyPure Foods Goes Bankrupt After Benefiting From $1.2 Million in Tennessee State Economic Development Funds
Less than two weeks before Governor Haslam introduced his IMPROVE Act centered on a gas tax increase for road funding, Pure Foods, Inc., a recipient of $1.2 million in state economic development funds, filed for bankruptcy. The $1. 2 million from the state’s FastTrack Economic Development (ED) Fund did not go directly to Pure Foods. Instead, it was allocated for use by KEDB for construction of a speculative building that Pure Foods leased for 10 years. According to the Kingsport Tennessee Times News, in March 2015, the Canadian based gluten-free snack food company, Pure Foods, Inc., was set to establish its U.S. headquarters at the Gateway Commerce Park in Kingsport, Sullivan County. The deal included an investment of $22 million, an 80,000-plus square foot facility, and the creation of 273 new jobs generating an annual a payroll of $8 million. The Kingsport Economic Development Board (KEDB) and the Kingsport Chamber of Commerce also supported the project by providing financial assistance and various incentives, including the purchase of 33 acres of land in the Gateway Commerce Park for $6.5 million borrowed from First Tennessee Bank. According to the Transparent Tennessee website’s FastTrack Project Database, ED grants provide additional support for…
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