Texas job market growth slows in Q2, still outpaces national average

Texas job growth slowed in June, but it still beat the national average.

In the second quarter of 2024, job growth in Texas was at 2.1%, according to a report from the Federal Reserve Bank of Dallas using data from the Bureau of Labor Statistics and Texas Workforce Commission. The growth was lower than in May, with payrolls declining an annualized 0.2%, or the equivalent of 1,900 jobs.

Despite the lower job growth, Texas outpaced the national average by 0.7% for the first half of 2024. In June, the average job growth in the United States was 1.4%. The Texas unemployment rate was also stable at 4%.

San Antonio Business Journal

Electric vehicle battery maker Microvast suspends construction in Clarksville, Tenn.

Construction on a $300 million electric vehicle battery plant outside of Nashville is suspended, as the company behind the project confronts mounting lawsuits from contractors and former local employees.

New information on the Microvast Holdings Inc. (Nasdaq: MVST) factory in Clarksville came to light in the company’s second quarter earnings report this month.

Microvast announced it would produce a different kind of vehicle battery in Clarksville than first planned. “We continue to consolidate our operations across the U.S. to Clarksville,” the company said in a press release, including work previously done in Colorado.

Yet the company’s Clarksville-specific problems have only intensified as 2024 has gone on.

During the second quarter, executives decided to suspend construction in Clarksville. They’re still pursuing a loan that would allow them to finish construction, a shortfall previously identified as $150 million to $170 million. The company had hoped to begin operations last year.

“The timing of when this project will be resumed and completed remains uncertain,” the company said in an Aug. 8 filing with the U.S. Securities and Exchange Commission.

In that filing, Microvast identified at least seven lawsuits it’s facing tied to Clarksville. Most are from contractors alleging tens of millions of dollars in unpaid bills — as well as one lawsuit accusing the company of violating federal “WARN” laws regarding layoffs.

Nashville Business Journal

Made in Georgia: Charting the state’s manufacturing boom

The Atlanta Business Chronicle will gather leaders in manufacturing and economic development for its first-ever Made in Georgia event.

Made in Georgia/Building Tomorrow’s Economy Today will be held from 3 to 6 p.m. on Oct. 2 at the Signia by Hilton Atlanta Georgia World Congress Center.

The event intends to highlight a historic transformation underway within Georgia’s manufacturing sector. Pat Wilson, commissioner at the Georgia Department of Economic Development, calls this boom the state’s second industrial revolution.

The numbers tell the story. At least 40 e-mobility projects were announced between July 2018 and 2023, bringing more than 30,000 jobs and $25 billion in investments, according to Georgia Economic Development. In recent years, Georgia has landed $28.8 billion in clean energy and tech projects, the most of any state.

The expansion of Georgia’s aerospace manufacturing sector is another economic win. Civilian aircraft remains the state’s leading export, totaling $8.2 billion last year. This one industry has grown by 36% over the past 10 years.

Manufacturing growth is also adding pressure to Georgia’s energy grid. Those issues are compounded by a rapid influx of data centers.

Atlanta Business Chronicle

Nick Saban will headline big ticket Business Council of Alabama event

Recently retired University of Alabama football coach Nick Saban will be the featured speaker at the Business Council of Alabama’s annual ‘Evening for Progress’ in Birmingham on Oct. 16.

Proceeds will go to support ProgressPAC, the political arm of the Business Council.

BCA is currently selling corporate sponsorship tickets. Prices run from $2,500 for seating for two to $50,000 for a photo opportunity and seat at the table with Saban.

“The greatest football coach of all time, the legendary Coach Nick Saban, will be joining us in Birmingham at the Evening of Progress on October 16th in Birmingham,” Wilson said. “Now that Coach is retired, every chance we get to hear him is exciting, and trust me, this will be a night you don’t want to miss.”

The Evening for Progress is the premier fundraising event for BCA’s political action committee and raises money for ProgressPAC, which focuses on political activism to establish a favorable business climate and sustain jobs in Alabama, the group says.

The event is open to BCA members and invited business and government leaders. The venue has not yet been announced, but last year’s event was held at the Sheraton Hotel in Birmingham.

AL.com

Fear, anger follow Haitian immigrants working at an Alabama poultry plant: Here’s the reality

The appearance of buses in several north Alabama cities last week prompted questions and community meetings about Haitian immigration in the state.

Last week, photographs of people entering and exiting charter buses in Albertville were shared on Facebook, with users questioning what purpose the buses served, who was on them, and where they were coming from.

Pilgrim’s Pride later issued statements say it had chartered the buses for employees to and from its Russellville plant. The company then said it would no longer use charters.

But residents of several north Alabama communities have expressed anger over their presence.

One speaker at a meeting in Albertville said Haitians “have smells to them. They’re not like us. They’re not here to be Americanized. They don’t care about schools. They’re scary, folks.”

In Athens, City Councilman Chris Seibert was confronted at a council meeting about his renting properties to Haitian workers.

At the two meetings, people expressed concerns about the presence of Haitians in schools, and whether the immigrants work and vote illegally.

“I think I understand the real root of this, and maybe you guys need to do some soul searching,” Seibert said, according to The Decatur Daily.

Here is a look at some of those claims and the facts behind them:

Are these undocumented workers coming to Alabama?

Poultry processor Pilgrim’s Pride, the employer which originally chartered the buses that began the controversy, said the workers in question are eligible to work under U.S. law.

Can immigrants vote?

At Tuesday’s community meeting in Albertville, speaker Jay Palmer said one driving force behind immigration is “the left, which wants a new voting population.” There was no mention of a bipartisan immigration reform bill that died after opposition from former Trump.

AL.com

Arkansas Electric Cooperative Details Plans for New Generation Plant in Texas

Arkansas Electric Cooperative Inc.  plans to build a 900-megawatt gas-fueled power plant in Texas, citing a need for more baseload power.

The Little Rock cooperative proposed the next-generation plant for Morris County, Texas. With regulatory approval, construction could begin in summer 2026. The plant, on about 100 acres, could start generating commercial power by 2029.

The generation site fits into AECC’s plan to address wholesale generation needs, the nonprofit said in its announcement. AECC provides wholesale power to the state’s 17 local electric cooperatives.

The generator would be a two-turbine, simple cycle facility within the footprint of Southwest Power Pool. SPP is the regional transmission organization based in Little Rock. The Texas plant will “assist with reliability within the RTO,” AECC’s announcement said. “This new state-of-the-art asset will be among the highest-performing, lowest-emitting and most efficient natural gas plants in AECC’s fleet.”

Arkansas Business

Wild Pastures Locates Distribution Center in Clinton, Arkansas

The State of Arkansas announced that Wild Pastures, a national grass-fed and pasture-raised meat delivery service, is expanding into Arkansas. The company’s move into a 138,000-square-foot facility in Clinton will create 20 new jobs over the next two years. This expansion is a result of increased customer demand and a desire to deliver products more quickly to the growing Southeast market.

In 2013, husband and wife team Dr. Autumn and Chas Smith launched Paleovalley, a healthy food, drink, and supplement company dedicated to helping people get the essential nutrients they need, without added sugars, grains, and other harmful ingredients. In 2018, they launched Wild Pastures, a regenerative meat delivery service based in Erie, Colorado, that sends 100% grass-fed and pasture-raised meat directly to your doorstep.

Arkansas EDC

GSA awards $524M contract to build cybersecurity agency’s D.C. headquarters

Clark Construction Group has won the contract to build the Cybersecurity and Infrastructure Security Agency’s new headquarters on the St. Elizabeths West Campus in Southeast D.C.

Roughly 18 months after putting the project out for bid, the U.S. General Services Administration announced Monday that Clark has been awarded $524 million to construct the 10-story, 630,000-square-foot headquarters for the 6-year-old agency, an arm of Department of Homeland Security. The project is part of a broader consolidation of the Department of Homeland Security’s headquarters on the St. E’s campus that’s estimated to cost around $2.8 billion.

Washington Business Journal

AI is already fueling layoffs, but there’s a silver lining for some workers

Employee concerns about the impact of artificial intelligence on their career prospects have ramped up as generative AI tools like ChatGPT have taken center stage.

They have good reason to be concerned, according to a new survey of 984 business leaders by ResumeTemplates, which found 3 in 10 companies said they have replaced workers with AI this year. Additionally, 38% of companies that said they will use AI in 2025 will replace workers with the technology next year. 

“AI technology is advancing quickly, and one of the main selling points is efficiency,” said Julia Toothacre, ResumeTemplates’ chief career strategist. “There are many AI programs out there that supplement or do the work of positions that don’t require significant human interaction.”

The Business Journals