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APRIL’S TRISTATE TALKING NEWS – REGIONAL, NATIONAL AND GLOBAL SNAPSHOTS

YOUR APRIL 2021 NEWS BULLETIN BRIEF FROM THE…
TENNESSEE
GOOGLE SAYS IT CONTRIBUTED $4.6 BILLION TO TENNESSEE’S ECONOMY IN 2020, HERE’S HOW IT BREAKS DOWN: Google’s U.S. economic impact totals $50 billion more than Tennessee’s entire gross domestic product, according to the tech company’s annual evaluation. Nationwide, $426 billion was generated by Google and its subsidiaries, its new 2020 Economic Development Report states. Google ad revenue, payments to YouTube creators and other publishers, and charitable donations totaled $4.6 billion in the Volunteer State in 2020.
SOURCE: CLICK HERE
TENNESSEE BUSINESS LEADERS JOIN FORCES TO PROMOTE AUTOMOTIVE INDUSTRY GROWTH: A new partnership among Tennessee business and automotive leaders could mean good things for the automotive industries that have been locating and expanding in Clarksville. Tennessee Chamber of of Commerce and Industry President & CEO Bradley Jackson recently announced a strategic partnership with the Tennessee Automotive Manufacturers Association (TAMA), aimed to increase and enhance services for Tennessee’s automotive manufacturers.
SOURCE: CLICK HERE

KENTUCKY
NUCOR TO BUILD $164 MILLION TUBE MILL, CREATE 72 WELL-PAYING JOBS IN GALLATIN COUNTY: Today, Gov. Andy Beshear announced Nucor Tubular Products, a division of steel products manufacturer Nucor Corp., plans to build a $164 million tube mill and create 72 full-time jobs in Gallatin County.“Nucor continues making a tremendous impact in our state, serving as both a great corporate citizen and a committed partner in providing meaningful opportunities for Kentuckians,” Beshear said. “Today’s announcement that the company will create 70-plus Kentucky-resident jobs boasting average salaries over $70,000 is very encouraging news for the families in Gallatin County and the surrounding region. I appreciate Nucor’s commitment to Kentucky during such an important year for the commonwealth.”
SOURCE: CLICK HERE
AUTO SUPPLIER EBERSPAECHER NORTH AMERICA PLANS 214 JOBS WITH NEW KENTUCKY FACILITY: Eberspaecher North America Inc., a system developer and supplier of exhaust technology, thermal management systems, and automotive electronics, is expected to create 214 jobs with a more than $30 million investment to establish a new operation in Louisville. Eberspaecher North America, founded in 1973 and headquartered in Novi, Mich., is a subsidiary of Germany-based Eberspächer Group, a global automotive supplier that specializes in exhaust technology, climate control systems, and automotive controls. Eberspächer has operated since 1865, and currently has 80 locations in 29 countries, employing approximately 10,000 people around the world. The new plant increases the company’s footprint in the U.S. to seven sites.
SOURCE: CLICK HERE

WEST VIRGINIA
CAMPING WORLD HOLDINGS CONTINUES EXPANSION WITH WEST VIRGINIA ACQUISITION: Camping World Holdings, Inc., America’s Recreation Dealer, announced an agreement to acquire Trailer City RV dealership in Fairmont, WV. The acquisition agreement is anticipated to close in May 2021 and will be the Company’s first location in the state of West Virginia. Camping World Holdings, the nation’s largest network of RV and outdoor lifestyle centric locations, currently owns and operates over 170 SuperCenters nationwide and a comprehensive e-commerce platform, specializing in RV sales and service, RV parts and accessories, outdoor lifestyle products and its entire portfolio of Good Sam products and services.
SOURCE: CLICK HERE
PEOPLES BANCORP ACQUIRES PREMIER BANCORP IN $292.3 MILLION DEAL: Peoples Bancorp Inc. of Marietta, Ohio, has agreed to acquire Premier Financial Bancorp of Huntington in an all-stock transaction valued at $292.3 million. Premier Bancorp is the parent company of Premier Bank and Citizens Deposit Bank & Trust. The two banks operate 48 branches in 38 communities in five states. Citizens Deposit Bank is based in Vanceburg, Kentucky. It has a branch at 2600 5th Ave. in Huntington and branches in Ironton and Proctorville, Ohio. Premier Bank has a branch in Charleston, and it has branches in Lincoln, Logan and Boone counties. Peoples Bank has a branch at 101 5th Ave. in Huntington. It formerly had one at 1126 20th St.
SOURCE: CLICK HERE

A SNAPSHOT OF WHAT’S HAPPENING NATIONALLY!
GOLDMAN SACHS PLEDGES $10 BILLION TO SUPPORT ADVANCEMENT OF BLACK WOMEN:
  • Goldman Sachs is pledging $10 billion over 10 years to advance racial equity and economic opportunity for Black women.
  • The new initiative is called “One Million Black Women.”
  • The firm noted that reducing the earnings gap for Black women could create up to 1.7 million jobs and add as much as $450 billion to U.S. GDP annually.
SOURCE: CLICK HERE
CONTINUED RACIAL INEQUALITY COULD COST THE US ECONOMY MORE THAN $1 TRILLION OVER THE NEXT DECADE – BofA: The Bank of America Global Research team says the continued lack of diversity inside of corporate America could prove very costly to the U.S. economy in the long-run. “Continued racial inequality could cost the U.S. economy US $1-1.5 trillion in lost consumption and investment over the next decade,” BofA’s team led by Haim Israel said in an exhaustive new piece of research. Israel’s team highlights some bleak stats on where things stand on corporate diversity. Ultimately, the numbers suggest the U.S. economy could see those lost trillions referenced by BofA if leaders don’t more forcefully step up diversity efforts.
SOURCE: CLICK HERE

SPECIAL FEATURE STORIES FROM AROUND THE WORLD!
CORPORATE INVESTORS HOLD THE KEY TO FOSTERING INCLUSIVE ENTREPRENEURSHIP:
Alarming headlines about women leaving the workforce during the pandemic abound. A quick Google on the topic will yield results including How COVID-19 Sent Women’s Workforce Progress Backward”, “Women’s COVID-Fueled Exodus from the Workplace Hurts Us All”, “Why COVID-19 Could Force Millions of Women to Quit Work – and How to Support Them” from American Progress, Time and the Forum, respectively. A side story which is not being so widely reported is how the pandemic reverse the meager gains women entrepreneurs have made in recent years.
SOURCE: CLICK HERE
YOUR DIVERSITY, EQUITY AND INCLUSION INITIATIVES ARE MISSING THE POINT. HERE’S HOW TO FIX THEM:
  • Diversity, equity, and inclusion (DEI) initiatives are crucial to our pandemic response but have been among the first to be cut;
  • Minorities and the economically vulnerable have suffered the most from the virus and its economic impacts;
  • Tying DEI initiatives to business outcomes will ensure their robustness in times of crisis.
Governments have always had to deal with complex and conflicting criteria in their decision-making processes. Take cost versus the quality of services, for example. Increasingly we are seeing private enterprises grappling with similar issues under the label of ESG (environmental, social and governance factors).
SOURCE: CLICK HERE
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