JUNE 2022… TRISTATE TALKING NEWS – REGIONAL, NATIONAL AND GLOBAL SNAPSHOTS

YOUR JUNE 2022 NEWS BULLETIN BRIEF FROM THE…

KENTUCKY

STARTUP OBT ASHLAND TO CREATE 55 JOBS WITH $45.5 MILLION INVESTMENT IN GREENUP COUNTY: Omnis Building Technologies (OBT) Ashland, a startup manufacturer of economical, sustainable and fire-resistant doors and cabinetry, announced it will invest $45.5 million into the commonwealth and create 55 well-paying jobs with a new facility in Greenup County.Using renewable resources and advanced materials, OBT Ashland will manufacture doors and cabinets with the construction of a 100,000-square-foot facility at the Wurtland Riverport.

SOURCE: CLICK HERE

KENTUCKY REPORTS LOWEST MONTHLY JOBLESS RATE SINCE 1976 IN LATEST STATE UNEMPLOYMENT REPORT:  Kentucky’s seasonally adjusted preliminary April 2022 unemployment rate was 3.9%, according to the Kentucky Center for Statistics (KYSTATS). The preliminary April 2022 jobless rate was down 0.1 percentage points from the 4% reported in March 2022 and down 0.8 percentage points from the 4.7% recorded for the state one year ago.

The U.S. seasonally adjusted jobless rate for April 2022 was 3.6%, which was unchanged from March 2022, according to the U.S. Department of Labor.

SOURCE: CLICK HERE



TENNESSEE

NISSAN MULLING THIRD AUTO PLANT IN US TO MEET ELECTRIC VEHICLE DEMAND: Nissan is considering adding a new auto plant in the U.S. to keep up with growing demand for electric vehicles, a top executive at the Japanese automaker said Friday. “It may not be a surprise that we go for a third plant,” Chief Operating Officer Ashwani Gupta told reporters at Yokohama headquarters.  Nissan Motor Co. now has two auto plants in the U.S. One in Canton, Mississippi, makes the Titan pickup truck and Altima sedan, among other models. The other in Smyrna, Tennessee, makes the Leaf electric car, Pathfinder sport utility vehicle and other models.

More: Smyrna factory: Nissan gains 20-year deal with 50% tax reduction on new investments.

SOURCE: CLICK HERE

TENNESSEE SENATOR AMONG THOSE WHO HELP DEFEAT SMALL BUSINESS COVID RELIEF ACT: The Small Business COVID Relief Act is struck down by the US Senate on Thursday.  It was supposed to give $48 billion to small businesses across the country. The result is leaving some owners feeling like they’ve been left in the dust.  The bill meant to help out small businesses like restaurants, bars, and gyms was shut down by the Senate, in a 52 to 43 vote.  “It was much of a letdown, we were hoping for a little bit of help, for an incentive, not only for the business, but for all the workers, you know, to make it a better place for the workers, for the people,” said Gilda Rubio, Germantown Pub general manager.

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WEST VIRGINIA

VERANO ANNOUNCES THE OPENING OF ZEN LEAF WESTOVER, THE COMPANY’S SECOND WEST VIRGINIA DISPENSARY AND 99TH LOCATION NATIONWIDE:

  • Zen Leaf Westover is located on Fairmont Road, part of U.S. Route 19, a highly traveled highway which can see up to 49,000 vehicles per day1
  • West Virginia medical cannabis sales are projected to potentially reach $49 million by 2026, according to the MJBiz Factbook 2022
  • Verano’s active operations span 13 states, comprised of 99 dispensaries and 12 cultivation and processing facilities with more than 1 million square feet of cultivation capacity



SOURCE: CLICK HERE

DEFENSE INDUSTRY THRIVES IN WEST VIRGINIA, EXPERTS PREDICT CONTINUED GROWTH: Despite pandemic-related hardships affecting economies across the planet, West Virginia’s defense industry continues to stay strong. To put into context what the defense industry consists of, it pertains to a wide net of contractors and manufacturers that produce goods of many kinds for the military sector. 



SOURCE: CLICK HERE

A SNAPSHOT OF WHAT’S HAPPENING NATIONALLY!

SUPPLY CHAIN WOES ARE FORCING MORE OF AMERICA’S TRADE ONTO PLANES: For passengers arriving at the rather faded terminals at Chicago O’Hare, it may not feel like it. But as of last year they are landing at America’s most important port, measured by value of trade. In the north-eastern corner of the airport, a stately if ageing Korean Boeing 747 lands and within ten minutes moves into position outside a giant warehouse. On board, bound in plastic and cord, are 115 tonnes of cargo—mostly consumer electronics, but also pharmaceuticals, food and more. In an hour it will be unloaded, and will soon be on trucks heading around the country. If the cargo is worth the average of cargo processed at O’Hare, that one flight will have brought $14m of imports into America.



SOURCE: CLICK HERE

DEPRESSION, ANXIETY HIT MINORITIES HARDEST DURING PANDEMIC: Americans’ rates of depression and anxiety spiked during the first year of the pandemic, but the increases were much more pronounced among Black, Hispanic and Asian people than among white people, new research shows. From April 2020 to April 2021, the overall incidence of depression or anxiety in the United States rose from about 11% to close to 40%, but there were significant racial differences, according to the research team from the University of Alabama at Birmingham.



SOURCE: CLICK HERE



SPECIAL FEATURE STORIES FROM AROUND THE WORLD!

HOW TO REINVENT SUPPLY CHAINS IN A NEW GLOBAL ECONOMIC ORDER:

  • The COVID-19 pandemic and the war in Ukraine have caused significant disruption to supply chains as well as economic losses.
  • Supply chains are critical to European growth so solving any issues that impact them is vital to rebuilding economies post-pandemic.
  • A supply chain reinvention is required to make them more resilient and future ready as a new economic order takes shape.
  • The combination of COVID-19 and the war in Ukraine has the potential to significantly impact Europe’s economy. Despite expert consensus being that Europe will avoid recession this year, the war is expected to cause a material deceleration in growth.

SOURCE: CLICK HERE


ADVANCING THE GROWTH POTENTIAL OF UK’S ETHNIC MINORITY BUSINESSES: A new report from Aston University has set out a blueprint for advancing the growth potential of Ethnic Minority businesses (EMBs) in the UK. The Centre for Research in Ethnic Minority Entrepreneurship (CREME) has partnered with NatWest for the Time to Change report which sets out ten evidence-based recommendations to promote greater success and inclusion of Ethnic Minority businesses (EMBs) in finance and business support in the UK.



SOURCE: CLICK HERE

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