YOUR SEPTEMBER 2021 NEWS BULLETIN BRIEF FROM THE…
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BIGELOW TEA CO. INVESTING $53 MILLION TO GROW IN JEFFERSONTOWN: Bigelow Tea Co. announced plans to relocate and expand in Jeffersontown with a $53 million investment that will create 31 quality jobs for Kentucky residents.Currently located in an 85,000-s.f. facility on Constant Comment Place in Jeffersontown, Bigelow will construct a new, 334,000-s.f. operation across two phases on nearby Blankenbaker Road.
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FEDEX PLANS TO HIRE 3,000 IN MEMPHIS, 80,000 NATIONWIDE: FedEx’s massive employee count is about to get even bigger. According to a press release, the delivery services giant is set to hire 80,000 people nationwide across its subsidiaries, amid an increased demand for residential service deliveries during the e-commerce boom. A spokesperson told MBJ that over 3,000 of those hires will be in Memphis.
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TENNESSEE CONTINUES RECORD-SHATTERING RISE IN NEW BUSINESS FILINGS: New business filings in the second quarter of 2021 grew a remarkable 61.6 percent from second quarter filings in 2020. This marks the second quarter in a row where Tennessee broke the previous record of year-over-year gain in the 28-year history of the data being collected. The Tennessee Quarterly Business and Economic Indicators report issued by Secretary of State Tre Hargett’s office shows that 70,118 businesses filed over the past year and 19,983 entities filed in the second quarter of 2021, the highest quarterly total ever recorded.
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COAL IS STILL A DRIVER FOR WEST VIRGINIA: When we talk about coal’s impact on the Mountain State economy, some are tempted to boil it down to a matter of the more than 13,000 West Virginia workers directly employed in coal mines. When you throw that number around, it does not seem as though coal should cast the shadow over our economy that it does. But it’s not that simple. “The fact is, it’s still an important force in our state,” said John Deskins, director of the Bureau of Business and Economic Research in West Virginia University’s College of Business and Economics.
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FRONTIER COMMUNICATIONS HIRING 100 WORKERS IN WEST VIRGINIA: Frontier Communications plans to hire 100 employees in West Virginia by the end of the year to support the company’s upcoming network expansion. Frontier said in a news release that it will hire cable splicers and outside plant technicians throughout the state. It’s part of the company’s national fiber-optic network expansion over the next three years. “Frontier is making substantial investments in fiber-optic technology, which requires hiring the best talent that will help us achieve our growth plans,” Verizon chief network officer Veronica Bloodworth said.
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A SNAPSHOT OF WHAT’S HAPPENING NATIONALLY!
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AUTO MAKERS WARN CHIP SHORTAGE WILL CONTINUE TO IMPACT VEHICLE PRODUCTION: The global computer-chip shortage continues to trip up the world’s largest car makers with some executives predicting it could weigh on operations well into the second half of this year.
Stellantis NV, the maker of Jeep, Ram and Chrysler, reported strong first-half earnings on Tuesday and raised its profitability goal for the year, boosted by a rise in demand and pricing.
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U.S.’S WHITE POPULATION DECLINES FOR FIRST TIME EVER, 2020 CENSUS FINDS: America’s white population declined for the first time while US metro areas were responsible for almost all of the country’s population growth, according to groundbreaking new data released on Thursday by the US Census Bureau. Overall, the white-alone population fell by 8.6% since 2010, the bureau said on Thursday. Non-Hispanic whites now account for around 58% of America’s population, a drop from 2010 when they made up 63.7% of the population. It was the first time that the non-Hispanic white population has fallen below 60% since the census began.
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SPECIAL FEATURE STORIES FROM AROUND THE WORLD!
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ADB TO PROVIDE $60 MILLION TO IMPROVE CLIMATE RESILIENCE FOR ETHNIC MINORITIES: The Asian Development Bank has approved a $60-million loan to improve the climate resilience of infrastructure in two central Vietnamese provinces to benefit local ethnic populations. The Climate Resilient Inclusive Infrastructure for Ethnic Minorities Project will be undertaken in Binh Dinh and Quang Nam, with a focus on remote upland districts with large ethnic minority populations.
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WHY PAYTECH IS THE KEY TO UNLOCKING AFRICA’S NEW FREE TRADE ZONE: Optimistic, the world holds its breath for the African Continental Free Trade Agreement (AfCFTA) as it seeks to redefine African markets. It will create uniform rules to guide trade, dispute settlement, investments, competition and intellectual property rights across the continent.
According to the World Bank, AfCFTA will lift 30 million people out of extreme poverty and raise the incomes of 68 million more. Intra-African trade was around 2% of the continent’s total trade between 2015 and 2017, while comparative figures for America, Asia, Europe and Oceania were, respectively, 47%, 61%, 67% and 7%.
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NO LIMITS… JUST OPPORTUNITIES!
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