• Facebook
  • Twitter
  • LinkedIn

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

YOUR MAY 2021 NEWS BULLETIN BRIEF FROM THE…
KENTUCKY
CONTINENTAL REFINING CO’S $20 MILLION AGRITECH INVESTMENT WILL ADD SOYBEAN-BASED PRODUCTS IN SOMERSET, KY: Continental Refining Co. (CRC) plans to invest $20 million to add a soybean crushing, biodiesel refining and blending facility at its CRC oil refinery in Somerset, Ky., it announced today. The ability to produce biofuels and soy-based products in Somerset will open new markets while providing farmers, CRC’s customers, vendors, investors and the community a solid AgriTech business opportunity that provides a positive economic impact for the region. CRC has garnered the support of Agriculture Development Councils in Pulaski, Wayne and Adair counties.
SOURCE: CLICK HERE
TKT AND ASSOCIATES HONORS ITS FOUNDER WITH LOUISVILLE MINORITY ACCELERATOR AND GRANTS: When TKT & Associates founder and CEO Tierra Kavanaugh passed away unexpectedly on April 30, 2020, she left a void the Louisville business community can never fill. To honor her memory, TKT has created the Minority Business Accelerator program that will award two grants to early-stage, black-owned businesses.
SOURCE: CLICK HERE

TENNESSEE
ORACLE PLANS $1.2 BILLION CAMPUS IN NASHVILLE, CREATING 8,500 JOBS: Oracle Corp. plans to bring 8,500 jobs and a $1.2 billion investment to fast-growing Nashville, a deal Mayor John Cooper’s office announced Wednesday as unprecedented in the history of Tennessee economic development projects.Cooper’s office said the Austin, Texas-based computer technology company requested a public hearing for its economic impact plan with the Metro Industrial Development Board. That board and the Metro Council would need to finalize the deal. According to documents provided by Cooper’s office, the project would create 2,500 jobs in Nashville by the end of 2027, reaching the full 8,500 by the end of 2031, with an average salary of $110,000.
SOURCE: CLICK HERE
GM AND LG TO SPEND $2.3 BILLION ON SECOND EV BATTERY PLANT IN U.S.: General Motors and South Korea’s LG Chem will invest more than $2.3 billion in a second U.S. battery cell plant for electric vehicles in Tennessee, the companies announced Friday.The plant for their Ultium Cells LLC joint venture will be to support production of GM’s upcoming Cadillac Lyriq crossover and other future EVs at a nearby assembly plant.
SOURCE: CLICK HERE

WEST VIRGINIA
WALMART ISSUES CALL FOR WEST VIRGINIA BUSINESSES THAT WANT TO SELL THEIR PRODUCTS IN STORES: Only a few days remain for West Virginia entrepreneurs to apply for Walmart’s eighth annual Open Call for products made, grown or assembled in the United States. The deadline to apply is Friday, April 30. Entrepreneurs and small businesses with shelf-ready products can find the application and more information about the event, via Walmart-jump.com. For the second consecutive year, Walmart will hold its Open Call in a virtual format, and one-on-one opportunities to meet with company merchants remain available. So far, more than 2,900 businesses have applied for the chance to pitch their products, and more than 9,300 merchant meetings have been requested for the June 30 event.
SOURCE: CLICK HERE
GENEVA FINANCIAL ANNOUNCES 45TH STATE LICENSURE; OPENS FOR BUSINESS AND JOBS IN WEST VIRGINIA: Geneva Financial (Geneva) announced the company’s 45th state licensure today, effectively opening operations for the direct mortgage lender in West Virginia. ‘The Mountain State’ marks the second state addition to Geneva’s operations in 2021.”At Geneva, our mission is to ensure an unbeatable experience for our customers and the communities we serve. As we expand into new territories, we seek to share that mission and continue to deliver a higher level of human service for America’s homebuyers” states James Polinori, Chief Marketing Officer for the company. “our priorities are and always will be our originators, operations staff, and clients as we grow and continue revolutionizing mortgage origination”.
SOURCE: CLICK HERE

A SNAPSHOT OF WHAT’S HAPPENING NATIONALLY!
SBA LAUNCHES SUPPLEMENTAL TARGETED ADVANCE FOR SMALL BUSINESSES HARDEST HIT BY COVID-19: The U.S. Small Business Administration launched a new round of Economic Injury Disaster Loan (EIDL) assistance – called Supplemental Targeted Advances – on April 22, 2021 that will provide $5 billion in additional assistance to 1 million small businesses and nonprofit organizations that have been most severely affected by the economic effects of the COVID-19 pandemic. The Supplemental Targeted Advance program is the latest SBA relief program to launch as part of the American Rescue Plan Act on March 11, 2021. “Many of our nation’s small businesses are still struggling to recover from the economic impact of the COVID-19 pandemic, and we’ve found that the smallest businesses — the majority of which are minority-owned — are hurting the most…
SOURCE: CLICK HERE
AMERICAN EXPRESS PROVIDES $40 MILLION TO ACCION OPPORTUNITY FUND, AN EFFORT TO AID UNDERFUNDED BLACK BUSINESSES: Aiming to help support underfunded Black businesses, credit card giant American Express is providing the Accion Opportunity Fund (AOF) with a $40 million investment. Calling it the largest single investment the nonprofit lender has ever received, AOF reports the funding will be used for a new program to offer loans and other resources to small business owners in America that have faced insufficient capital issues historically.
With nearly 90% of its clients being people of color, immigrants, and women, AOF offers affordable capital and coaching. A Community Development Financial Institution (CDFI), AOC says the investment will allow it to offer more under-served small businesses access to loans.
SOURCE: CLICK HERE

SPECIAL FEATURE STORIES FROM AROUND THE WORLD!
AS SMALL BUSINESSES CONTINUES TO STRUGGLE GLOBALLY, WOMEN AND MINORITY-LED ONES ARE THE HARDEST HIT: Small businesses around the world have struggled since the start of the pandemic more than a year ago. While the roll-out of vaccines gives a reason to be hopeful, our latest Global State of Small Business Report is a timely reminder that many are still vulnerable and need support. And those feeling the impact of the pandemic the most are women and minority-owned businesses – a further reminder that whenever crises hit, it’s always the most vulnerable who are hit the hardest. For this report, we surveyed more than 35,000 small business leaders across 27 countries and territories in February. What they told us makes for sobering reading.
SOURCE: CLICK HERE
WHAT SKILLS STRATEGIES FOR THE NEW WORLD OF WORK?: Work is the engine at the center of our economies and skills are its most important ingredient. Work, and skills to fuel it, lie at the heart of the World Business Council for Sustainable Development’s Vision 2050 where over 9 billion people live well, within the limits of the planet, and is essential for the achievement of the Sustainable Development Goals (SDGs). Without the right skills, workers, particularly those from disadvantaged groups (women, young, ethnic minorities, low-skilled workers), will find it more and more difficult to find the work they need to live well. New technologies, socio-economic developments and critical events like COVID-19, are placing the world of work in a state of constant flux, creating opportunities but also exacerbating inequalities. As we begin to recover from the pandemic, many businesses will lack the relevant skills needed to be successful in the future.
SOURCE: CLICK HERE
TALKING NEWS SPONSOR
SOCIAL MEDIA SPONSOR
NO LIMITS… JUST OPPORTUNITIES!
© 2021 TSMSDC. All Rights Reserved..