News
Georgia’s foreign manufacturing rises
Atlanta Business Chronicle by Jacques Couret
May 14, 2012
Foreign-owned companies that have manufacturing operations in Georgia ramped up their production in the first quarter, the Econometric Center at Kennesaw State University’s Michael J. Coles College of Business reported Friday evening.
The Georgia International Business Index (GIBI) — a reading of economic activity in the state’s foreign-owned manufacturing sector — rose 5.9 points to 69.2, on the strength of new orders and production.
A GIBI reading above 50 shows manufacturing activity is expanding, while a reading below 50 shows it is contracting.
- New orders jumped 8.2 points to 76.9
- Production increased 7.5 points to 73.1
- Employment grew 5.3 points to 61.5
- Capital spending rose 2.9 points to 65.4
- Exports as a percent of sales inched up 1.7 percent to 11.3 percent
“The first quarter GIBI and its underlying components suggest that foreign-owned manufacturers’ business remains strong,” said Don Sabbarese, professor of economics and director of the Econometric Center at the Coles College of Business. “Respondents reported higher new orders and production, and employment was up too.”
EDC embarks on long-range planning
By J.D. Sumner, The Albany Herald
ALBANY — The heads of the Albany-Dougherty Economic Development Commission voted Wednesday to allow staff to begin developing a long-range strategic plan designed to show the board and the community where the organization should be in the next five to 10 years.
“I think we’re already doing a pretty good job managing ourselves on a year-to-year basis, but where we’re lacking is having a more long-range look at where we’re going,” EDC President Ted Clem said.
The immediate goal is to use the EDC’s staff to develop a five-year strategic plan through a series of phases.
Albany Dougherty Economic Development Commission President Ted Clem speaks about plans to develop a strategic plan to help the board determine “Where they want to be when they grow up.”
The first phase would be an EDC board retreat, which will likely happen this summer and will challenge board members to define and set goals for what the EDC should be and should be doing.
Phase II involves pulling together representatives from the Georgia Department of Labor, the Dougherty County School System, higher education institutions, Marine Corps Logistics Base-Albany, local utilities, small businesses, industry, regional partners and relevant stakeholders for analysis of the area’s strengths, weaknesses and opportunities for growth.
“The underlying goal here is to talk to different groups. The (Albany) City Commission may have one idea on how they want to do things, the (Dougherty) County Commission may have a different plan, and the business community may have another idea altogether,” Clem said. “When we go through this process, we hope to gain some sort of community consensus on what the main initiatives and goals of our organization should be.”
Phase III would be another EDC board retreat that would be used to analyze and refine the EDC’s priorities and direction.
Phase IV would be a meeting of the EDC stakeholders — the city and county commissions and the Albany Area Chamber of Commerce — to discuss their priorities and gain feedback.
Finally, the last phase would be to present the plan to the community in hopes of earning support and buy-in.
The EDC also learned Wednesday that staff picked up two new business prospect referrals from the state Department of Economic Development and said that there are at least two companies considered as finalists for relocating or expanding business into the area.
Clem said he’s hopeful for an announcement by the end of the month on at least one of those companies.
EDC staff will also soon be heading to the world’s largest retail business trade show in Las Vegas. Clem said the EDC and Electric Cities of Georgia have a booth set up at the trade shows and have already pre-arranged a series of meetings with prospective businesses.
State export directory links businesses with opportunities
By Jennifer Emert, WALB News Channel 10
May 1, 2012
ALBANY, GA - Georgia companies now have a new tool to help them sell their products overseas and it will cost them nothing.
Foreign companies frequently ask the state about import opportunities. Several south Georgia businesses are already taking advantage of the state’s new online export directory.
Sasco Chemical on Pine Avenue was recently awarded the global commerce award by the Albany-Dougherty Economic Development Commission. Its activity overseas helped the company expand here in Albany and add jobs.
“Sasco, Equinox Chemicals, several others are really boosting their sales by finding markets outside of their own country,” said Ted Clem, president of the Albany-Dougherty Economic Development Commission.
The Georgia Department of Economic Development has launched a new tool to help other small businesses do the same. It’s a free online export directory that points foreign companies to others looking for export opportunities to market their products worldwide.
“It really behooves any company to try to promote themselves internationally; there’s great opportunities there for products and services beyond Georgia, beyond the southeastern states,” said Clem.
But it can be tough for small businesses like Equinox and others to do. Economic development officials say the state has resources to help. Digging deeper we found the International Trade team provides Georgia companies with know-how, in-country contacts, and international opportunities.
“How do I find those people and companies to do business with, different currency exchanges, how can I make sure that I get paid at the end of the day, all of those are hurdles,” said Clem.
Economic Development officials encourage businesses to take advantage of opportunities the state offers to introduce Georgia businesses to foreign markets.
“Perhaps they may want to participate in some of the state’s trade missions that go all around the world in different regions, helping to promote the goods and products and services made and provided here in the state of Georgia,” said Clem.
Clem knows if businesses can add new sales it helps the local economy, by adding more employees making everyone a winner.
In 2010, Georgia had a record $28.9 billion in products and services exported to more than 200 countries and territories.
Education critical to TSPLOST vote
WALB NEWS Channel 10
ALBANY, GA -
In a few months you’ll get to vote on a new sales tax that will pay for transportation projects in our area.
Today officials held a meeting for folks in the community to help better inform the public on just what the TSPLOST is.
It’s a one percent sales tax that will keep the money in the regions that approve it.
Dan Bollinger, Director SW GA Regional Commission says each project, no matter what county, will serve each person in the region one way or another.
A good example is the widening of highway 133 from Albany to Valdosta.
“Jobs get tied to transportation, if you have the four lane..good transpiration network available you’ll be able to attract those jobs.”
It will be on the ballot on July 31st. They start collecting tax in 2013, and folks will see some of the benefits of these projects in 2014.
To learn more about TSPLOST and Southwest Georgia projects, click here.
TSPLOST set to bring millions to SWGA
TSPLOST set to bring millions to SWGA
By Jessica Fairley, WFLX
April 23, 2012
ALBANY, GA. - In July voters will head to the polls to vote for the one cent transportation tax. Representatives with the Georgia Chamber were in Albany Monday afternoon to gain financial support for the cause.
The Transportation Special Local Option Sales Tax (TSPLOST) is set up to improve Georgia road conditions over the next 10 years by providing funds to local governments for projects.
The money is expected to help with economic development and public safety.
Representatives with the chamber say this is an opportunity that Georgia can’t afford to pass up.
“This is one of those things where we are 49th in the nation per capita spending on transportation. Other states are beating us every day for projects because of this issue. We’ve got to invest in our infrastructure if we’re going to grow as a state,” says Chris Clark, President and CEO for the Georgia Chamber.
If passed, the TSPLOST is expected to create over 14,000 jobs right away and raise over $500 million for southwest Georgia over the next 10 years.
To learn more about TSPLOST and Southwest Georgia projects, click here.