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Michigan Making Movies

Governor Jennifer M. Granholm announced on Tuesday Michigan’s aggressive film production attraction efforts will create 5,993 new jobs in Michigan, including 4,066 new film, animation and programming jobs. Three companies, Wonderstruck Studios, Motown Motion Pictures and Stardock Systems, plan to invest more than $156 million in Detroit, Pontiac and Plymouth locations. “We are working hard to build a divers ...

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Munich Airport Touts Job Growth

Even under difficult economic conditions, Munich Airport remains a reliable engine for growth and employment. The three biggest companies at the airport - the Lufthansa Group, the Munich Airport operating company and its subsidiaries (FMG), and the airport security company (SGM) - alone have increased their total workforce by 2,800 to more than 18,300 since the summer of 2006. At the FMG annual press confer ...

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ConvaTec to Expand in Greensboro

The Greensboro Economic Development Alliance just announced a significant expansion by ConvaTec, a global medical device manufacturer and long-time Greensboro employer. The company will expand its ostomy wafer line and attract a new ostomy pouch operation to its 211 American Avenue plant. ConvaTec plans to hire 30 machine operators and mechanics at an average wage of more than $44,000 per year. The company ...

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California Boosts Its Bond Program

The California Enterprise Development Authority (CEDA) has praised the State Treasurer’s office for increasing the funding allocation  from approximately $120 million to $150 million for the 2009 Industrial Development Bond (IDB) program. This annual IDB issuing volume, which funds projects for California manufacturers, is established by the State Treasurer and represents a $30-million, or a 25%, increase, ...

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Blago gets the boot

The tawdry saga of Gov. Rod Blagojevich concluded on schedule this week, when the Illinois State Senate unanimously ousted the helmet-haired governor after a brief trial in which Blagojevich was the most damning witness against himself, courtesy of wiretaps provided by a federal prosecutor. U.S. attorney Patrick Fitzgerald's impulsive decision two months ago to publicly reveal Hot Rod's efforts to peddle Ba ...

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Fighting Back Against Job Slashing

After yesterday's employment massacre--more than 70,000 job cuts announced across various U.S. industries--the role of economic development and the importance of economic developers, have reached new heights. Before slumping my shoulders in response to the crush of job losses, I was emboldened by news out of North Carolina. EDGE4, a five-year economic development program designed to benefit Raleigh, Wake Co ...

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Where the pain is (and isn’t)

A state-by-state breakdown of unemployment, budget deficit and foreclosure statistics, jointly produced by CNN, Fortune and Money magazines, clearly illustrates which states are getting hit the hardest by the recession. Here are the states that appear to be in the worst shape, economically, according to an aggregate of these indicators: California -- 8.4 percent unemployment, $14 billion deficit, 3.9 percen ...

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Wind Farms Whistle Across North America

Valero Energy Corporation, one of the largest oil and gas refiners in North America, has begun its Phase I operation of a 50-megawatt (MW) windfarm located in McKee, TX. Just north of Amarillo, the McKee Windfarm will be constructed in two phases. Initiated in December 2008, energy production from six General Electric (GE) 1.5-MW wind turbines of Phase I has been commissioned for startup.  Phase II will con ...

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“Gray Lady” Battles Red Ink

With its stock price plunging more than 60 percent in the past year, its print advertising sales collapsing, and a reported $1 billion in debt, The New York Times Co. is urgently trying to raise $225 million by offering a sale-leaseback deal on its new 52-story headquarters building in midtown Manhattan. The move to sell a portion of its gleaming new skyscraper, designed by architect Renzo Piano, is the lat ...

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