May 21, 2012

You are here: Home / Archives for Economy

First Dreamliner rolls out of North Charleston

April 27, 2012 By

The Dreamliner, destined for Air India, exits Boeing assembly plant Friday

The Boeing plant in North Charleston rolled out its first brand new 787 in a festive ceremony Friday. Scores of dignitaries, including Governor Nikki Haley and former Gov. Mark Sanford, gathered with thousands employees to celebrate the occasion.

It’s the first time Boeing has assembled an aircraft outside of its manufacturing base in Washington.

The $750 million plant opened last year after the political controversy brought on by the National Labor Relations Board alleging that the aircraft manufacturer was building the nonunion South Carolina plant in retribution to the union strikes at the Washington State Boeing plant.

The controversy ended after the Machinists Union approved a four-year contract extension and the company promised that they would a build a new version of the 787’s in Washington.

Filed Under: Business, Economy, Featured, News, Transportation

SC Senate approves paying for Federal portion of harbor deepening

April 25, 2012 By

South Carolina state senators have approved legislation that would borrow money to pay for the federal portion of the Charleston Harbor deepening if the government does not keep its end of a cost-sharing agreement. The bill passed 40-3 late Wednesday.

Sen. Hugh Leatherman is pushing for the bonds as a backup plan (File)

The Army Corps of Engineers is supposed to put forward $120 million to match South Carolina’s $180 million for the harbor dredging project. But fears about federal budget cutbacks leave many South Carolina lawmakers concerned that Congress may not come through with the money five years from now. As a solution, Sen. Hugh Leatherman (R-Florence) proposed issuing bonds as an emergency backup.

Leatherman says the project is too critical for any uncertainty over funding. He says the bonds are also a good marketing move, helping State Ports Authority president Jim Newsome recruit businesses to use the Port of Charleston.

“If he’s got this, he can go to the shipping lines and companies and say South Carolina is serious,” Leatherman said.

The bill received second reading after Sen. Kevin Bryant (R-Anderson) dropped his objection. Bryant said he was worried the state would be taking on too much debt, but agreed to work with Leatherman and other Senate leaders on a compromise that could set aside $120 million pay off some of the state’s existing debt.

[Read more...]

Filed Under: Business, Economy, Featured, Legislature, News

Winthrop Poll split on Haley, upbeat on economy (AUDIO)

April 24, 2012 By

The results of the latest Winthrop Poll are out and they show that respondents are split almost down the middle in their opinion on how Governor Nikki Haley is handing her job as the state’s chief executive.

Gov. Nikki Haley's approval and disapproval ratings are almost exactly the same (File)

37 percent of all respondents say they approve of the governor’s work performance, while 36.5 percent disapprove of the job she’s doing. Poll Director and Winthrop Political Science professor Dr. Scott Huffmon says it’s impossible for Haley to get majority approval when nearly a quarter of the respondents expressed they are not sure about her performance.

Huffmon says opinions about the state legislature’s performance were a couple of percentage points below Haley’s numbers. Among Republicans and independent registered voters that lean Republican, Haley received rousing thumbs up approval rating 59.8 percent.

AUDIO: Huffmon says state citizens split on performance by Haley and General Assembly (:23)

[Read more...]

Filed Under: Economy, News, Politics & Government

Unemployment rate dips below 9 percent

April 20, 2012 By

South Carolina’s unemployment rate dropped slightly last month to fall below nine percent, the lowest level since November 2008.

The rate dropped from 9.1 percent in February to 8.9 percent in March, according to data from the state Department of Employment and Workforce. The number of employed South Carolinians increased by about 3,600 while the number of those listed as “unemployed” dropped by more than 4,300. The state’s workforce shrank slightly by about 800 people (it is still higher than March 2011). The numbers are not seasonally adjusted, according to the agency.

When compared to March of last year, over 30,000 more people are working now. However, the unemployment rate is still nowhere close to pre-recession levels.

Every county saw its jobless rate decrease.

The biggest gains came in the leisure and hospitality industry, with a net increase of 8,400 jobs. The trade, transportation, and utilities sector also had a strong month as its employee rolls grew in the retail sector by 3,800. Education and health services saw the biggest loss in jobs, with 900 fewer than February.

Nationally, the jobless rate dropped to 8.2 percent from 8.3 percent.

Filed Under: Business, Economy, Featured, News

Spirit Airlines offers new flights from Myrtle Beach

April 19, 2012 By

Spirit Airlines says it’s adding new direct flights from Myrtle Beach.

The airline plans to add new flights to Washington, D.C. and additional flights to New York and Florida.

Myrtle Beach International Airport lost a number of flights last month when Direct Airlines suspended service and filed for bankruptcy.

The Myrtle Beach Sun News reports Spirit will add the flights beginning in June.

The airline will also increase its existing service to Niagara Falls and Plattsburgh in upstate New York and Fort Lauderdale, Florida.

An airport spokesperson says the new flights will help counter the loss of service from Direct Airlines.

Spirit carries about half the passengers who travel from Myrtle Beach.

Filed Under: Business, Economy, News
« Older Posts
Newer Posts »