U.S. Jobs Growth Set to Slow, Conference Board Says

Posted on by Michael Randle

U.S. jobs growth could stall in the second half of 2024, with signs of a slowing labor market, according to monthly gauge of employment trends

The Conference Board’s employment trends index fell to 111.25 in April from a downwardly revised 112.16 in March, the private-research group said Monday.

“The labor market is beginning to show signs of cooling following a period of very strong growth since the pandemic recession,” said Will Baltrus, associate economist at The Conference Board.

However, substantial job losses are unlikely to occur over the coming months, as employers are still facing labor shortages, Baltrus said.

The reading comes after Labor Department figures published last week that showed the U.S. added 175,000 more jobs in April, fewer than in March, with the unemployment rate ticking up to 3.9% from 3.8% in the prior month.

The Wall Street Journal

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JLL brokers analyze Atlanta’s emergence as a leading tech hub

Posted on by Michael Randle

Recent JLL research found that Atlanta is one of the fastest-growing cities for the technology industry today. We asked JLL office tenant representation brokers Brooke Gothard and Patrick Baughman for their take on the state of tech in the metro area and where the sector is headed.

What trends are you seeing in the technology industry today?

Patrick Baughman: Right now, one specific trend we’re seeing is a push toward agile, flexible workspaces. Tech companies understand employees value choice and collaboration, so they create environments that support various work styles: things like open plan layouts, dedicated collaboration areas and comfortable breakout spaces.

Brooke Gothard: Sustainability is another trend we’re seeing across the market, but particularly for companies in the tech space. More and more, they’re prioritizing green buildings, energy-efficient data centers and renewable energy sources.

Atlanta Business Chronicle

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‘People rather than equipment and robots’: Atlanta officials seek data center ban

Posted on by Michael Randle

A couple of Atlanta officials are leading an effort to prevent data centers from gobbling up prime real estate in the city.

Atlanta City Councilmembers Jason Dozier and Matt Westmoreland introduced two pieces of legislation on Monday that would ban data centers from being built within the BeltLine Overlay District and within a half-mile of transit stations.

“We want to make sure you have spaces that will be utilized by people rather than equipment and robots,” Dozier said.

Every councilmember is backing the legislation, which would not affect existing data centers nor those already approved for construction, Dozier said.

The proposal comes amid a data center boom sweeping across Atlanta. The region experienced a 211% increase in projects under construction between 2022 to 2023, the largest increase in the nation, according to a CBRE report.

This growth coincides with the increased digital demand and rise of artificial intelligence uses. Gordon Dolven, CBRE’s data center research leader, said the company considers these centers critical infrastructure like cell towers and fiber.

Dozier believes that data centers should be barred from claiming finite land around the BeltLine trail loop and MARTA rail stations that could otherwise be filled with affordable housing, green space and other appealing uses for walkable, transit-rich areas.

Atlanta Business Chronicle

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Can a “not Charlotte” recipe revive a region?

Posted on by Michael Randle

Scott Kidd didn’t expect a terribly busy job when he became the town manager of Liberty, N.C., a onetime furniture and textile hub whose rhythms more recently centered on a yearly antiques festival.

Those quiet times, less than three years ago, soon became a whirlwind. Toyota announced it was building a battery factory on the town’s rural outskirts for electric and hybrid vehicles, and since then Mr. Kidd has reviewed ordinances, met with housing developers and otherwise sought to meet the needs of a seven-million-square-foot facility.

The flurry of activity reflects new investments in a region of North Carolina that has lagged behind: the Triad. The average income in Randolph County, which includes Liberty, is $47,000, and some jobs at Toyota will offer an hourly wage comfortably above that. More people moving into the area could breathe life into Liberty’s downtown.

But the potential dividends for the area — which includes Greensboro, Winston-Salem and High Point, in the center of the state — depend on equipping its workers with the skills needed for those new jobs. Mr. Kidd worried that many local workers lacked the education and skills to work at the plant.

The New York Times

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Veteran-owned data sciences company JDSAT to expand operation in Virginia

Posted on by Michael Randle

RICHMOND, VA – Governor Glenn Youngkin today announced that JDSAT, Inc., a veteran-owned application development and data sciences firm, is investing $630,000 to expand its operations in Fairfax County. The company intends to invest in technical staff and analysts to support its growing artificial intelligence, cloud computing, and data science business. The project will create 60 new jobs.

“JDSAT, Inc., is a Virginia success story of a veteran coming home and starting his own company in one of the best business climates in the nation,” said Governor Glenn Youngkin. “This expansion in the artificial intelligence and data science sectors shows that the Commonwealth continues to grow in these rapidly evolving industries.”

“JDSAT’s decision to expand its operations in Fairfax County shows that Virginia is a strong, reliable business partner,” said Secretary of Commerce and Trade Caren Merrick. “The Commonwealth is a top state for tech talent that offers the location, infrastructure, and robust workforce that attract companies like JDSAT, and I congratulate all the partners involved on this expansion.”

VEDP

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Global clean energy manufacturer Topsoe to invest $400 million in Virginia

Posted on by Michael Randle

RICHMOND, VA – Governor Glenn Youngkin announced that Topsoe, a Danish manufacturer and global leader in carbon emission reduction technologies, plans to invest more than $400 million to build a factory at Meadowville Technology Park in Chesterfield County. Pending Final Investment Decision, the company will manufacture advanced, energy-efficient Solid Oxide Electrolyzer Cells (SOEC) that are essential in the production of clean hydrogen at the facility. Federal tax credits from the U.S. Department of Energy under the Qualifying Advanced Energy Project Credit (Section 48C) will support the construction of the facility, which would be Topsoe’s largest U.S. investment. The project is expected to create 150 new jobs.  

To support the next generation of innovators, Topsoe also plans to launch the “Topsoe STEM Scholarship” program which will award five $10,000 one-year scholarships to high school seniors from Chesterfield County high schools. These scholarships will be awarded to eligible high school seniors seeking to continue their education in a STEM major in college, with the first awards given in the spring of 2025 for the next academic year. Topsoe plans to continue this scholarship program in subsequent years.

“I am thrilled that Topsoe has chosen the Commonwealth of Virginia for its new, state-of-the-art factory that will be key to scaling clean hydrogen production,” said Governor Glenn Youngkin. “Virginia’s robust workforce, strategic location, and top business climate provide the necessary tools for Topsoe to continue to grow as a leader in the clean energy industry. I also applaud Topsoe’s commitment to the next generation of Virginians with the launch of the Topsoe STEM Scholarship program that will drive the innovation pipeline for years to come.”

VEDP

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A ‘slap in the face:’ Farmworker groups decry law preventing heat rules

Posted on by Michael Randle

Agriculture is the second-largest industry in Florida after tourism, and Central Florida has three of the state’s top 10 producing counties: Polk, Orange and Lake. Although states such as Washington, Minnesota, California, Oregon and Colorado have laws protecting those who toil in the heat, Florida lacks such standards for its 2 million outdoor workers.

A law that takes effect on July 1 will kill any chance that cities and counties can respond to the problem. Among other things, HB 433 prevents local governments from enacting heat protection requirements. Supporters say federal safety standards are sufficient and non-uniform local ordinances would burden employers.

The bill, backed by business groups and opposed by workers rights organizations, passed on the last day of the 2024 legislative session and signed into law by Gov. Ron DeSantis in April. The law’s passage was a “slap in the face” to farmworkers, said Jeannie Economos, who coordinates safety programs for the Farmworker Association of Florida. “Industry folks that pushed through this preemption bill … have been saying that employers already protect their workers,” said Economos. “If that were true, we wouldn’t be hearing complaints from workers all the time that they need protections.”

The State

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An electric vehicle manufacturer to open facility in South Carolina, plans to bring in 180 jobs

Posted on by Michael Randle

A company that makes various types of electric vehicles will establish a manufacturing facility in Aiken County. Columbia Vehicle Group plans to make a $12 million investment and bring in 180 jobs with the upcoming facility, according to a news release from S.C. Gov. Henry McMaster’s office.

The company will purchase a 155,000-square-foot facility at 2063 University Parkway in Aiken and will upfit the building for its needs. Columbia Vehicles is relocating manufacturing operations from Florida and Wisconsin to Aiken “for closer proximity to customers and its supply chain,” the release said.

“We’ve been investing in great communities since 1947 with Aiken being a superb fit to our continued global expansion of the Tomberlin and Columbia brands,” Columbia Vehicles CEO Michael Tomberlin said in a statement. The company manufactures a host of products including golf carts, utility vehicles, maintenance vehicles and e-bikes. Operations are expected to be phased in during the next 18 months in Aiken.

The State

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Is Tennessee small business friendly? These are the best and worst cities to start one, Forbes Advisor says

Posted on by Michael Randle

Thinking of starting a small business in Tennessee? Forbes Advisor says you may want to think twice depending on where you live.

Forbes Advisor recently released an analysis of “The Most and Least Risky Cities for Small Businesses.” In this study, they looked at factors like the local growth development rate, commercial property prices, property crime rates, natural disasters, cyber crimes and more to determine which cities had the most or least risk factors involved.

Here is what the list had to say about cities in Tennessee and across the country.

The Tennessean

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Nucor Steel Berkeley County, S.C. breaks ground on $425 million expansion project

Posted on by Michael Randle

Nucor Steel Berkeley broke ground on the construction of a new galvanizing line on Thursday, May 2.

The $425 million investment will create more than 50 new full-time jobs, according to a news release. The new galvanizing line is expected to start up in mid-2025.

Adding a new galvanizing line at the South Carolina sheet steel mill supports Nucor’s strategy to expand the company’s capabilities and grow its participation in the automotive and consumer durables markets, the release stated. The mill in Berkeley County produces flat-rolled steel which has hundreds of everyday uses, including parts for cars, water heaters, lawnmowers, appliances and more.

Nucor Steel Berkeley also produces steel beams that are used as support structures in bridges and buildings.

“This capability broadens the mix of higher margin value-added products that Nucor can provide to our customers,” Rex Query, Nucor’s executive vice president of sheet products, said during a groundbreaking ceremony. “It also allows us to take advantage of the need our customers have for sustainable steel — sustainable steel being something that Nucor excels at producing.”

Charleston Business Journal

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