Regional News - January  15, 2008

 

Economists Predict Gloomy 2008
The state's economy is barely growing, according to the Alaska Department of Labor, which gave its annual employment forecast to local chamber of commerce members last week. Last year, job growth statewide increased at the lowest rates since the 1990s -- around 1%. This year, new jobs will be even more scarce, in part because of the loss of nearly 900 construction jobs statewide over the past two years, according to the forecast.
Source: Anchorage Daily News

 

State Senator Introduces Anti-Immigrant Bill
Saying illegal immigrants come to Nebraska for jobs, State Sen. Gwen Howard (D) introduced a bill last week that would deny Nebraska business tax incentives to companies that knowingly hire illegal immigrants. "I want to look at all those who share responsibility for the problem," Howard said. "The burden can't only be on the individual. Clearly there's a point where employment is offered to that individual."
Source: Omaha World-Herald

 

City Sues Banks Over Subprime Crisis
The city of Cleveland has sued 21 banks involved in the subprime mortgage market, seeking monetary damages due to a huge spike in foreclosures. The lawsuit, filed in Cuyahoga County Common Pleas Court, claims the banks created a foreclosure crisis by being purveyors of subprime mortgages, leaving the city to "clean up the resulting mess," sustaining hundreds of millions of dollars in damages. The lawsuit uses Ohio's public nuisance law as a vehicle for seeking damages.
Source: Reuters

 

Businesses Say More Hiring, Spending in 2008
More than half of Philadelphia-area business leaders responding to a recent survey expect to increase their capital spending and hire more employees this year. The survey of about 300 members of the Greater Philadelphia Chamber of Commerce, which was conducted by Sovereign Bank, found that 55% of business leaders surveyed are expecting to see either a slight or significant increase in the size of their work forces. When it came to capital expenditures, 52% said they expect to increase spending in 2008. 
Source: Philadelphia Business Journal

 

Rebates Draw Filmmakers to State
State residents could be seeing a lot more of themselves and their home state in new film productions that have been in South Carolina in the past year, thanks in part to rebate incentive packages designed not just to get the companies to film there, but also to hire more local production workers and suppliers. Productions that spend at least $1 million can receive a 20% cash rebate on wages paid to South Carolinians and a 30% rebate on all goods and services bought from South Carolina suppliers. Productions also get a 20% rebate on performers' wages regardless of where they're from as long as they make less than $1 million.
Source: The State