Some fear that the addition of two new nuclear reactors to the Alvin W. Vogtle Electric Generating Plant might be derailed because of environmental concerns that the facility’s draw from the Savannah River would increase from 1 percent of the river’s annual flow to 2 percent.
Supporters of what would be the region’s biggest construction project since Vogtle Version 1.0, however, should be more worried about this: Can the power plant’s owners afford the expansion?
Not long ago, I wrote about my belief that Richmond County’s political engine was starting to fire on all cylinders (the analogy actually involved a transmission ’ s gears shifting, but you get the point).
Despite the county’s dysfunctional coliseum authority – and some minor hand-wringing over whether the Downtown Development Authority should expand its boundaries and whether south Augusta needs a DDA of its own – I still believe the county’s leadership is pretty much all “on the same page.”
The next natural step? Seeking unity beyond the county line.
Remember when I told you I could predict the future (Scuttlebiz, Dec. 30)?
“The following events will occur somewhere in our metro area during 2008 … A longtime local business, which some residents consider an 'institution,’ will close.”
“The owners of Fat Man’s Forest announced they plan to close the well-known store and restaurant on Laney-Walker Boulevard … The business was started in 1948 … and became a retail institution in Augusta.” – The Augusta Chronicle, Feb. 5 .
I did something I wasn’t proud of the other day – I booked a flight out of Columbia Metropolitan Airport.
What made me feel even worse was that I clicked the “accept” button on my computer to buy for a round-trip ticket to Phoenix while ink was still wet on the invitations to Augusta Regional Airport’s new-and-improved terminal building – a facility specifically designed to encourage greater use of the airport.
As a more-than-casual observer and sometimes critic of Augusta’s* politico-business establishment, I am comfortable making this statement: The city is moving forward.
In fact, I’d say Augusta’s leadership is about to shift into second gear**.
That’s an accomplishment, considering that it wasn’t all that long ago the city was stuck in neutral, with occasional shifts into reverse.
Augusta State University economics professor Mark Thompson last week unveiled the Greater Augusta Economic Activity Index, a statistical measurement of the region’s economic health based on a variety of economic indicators, including wage growth, unemployment and construction activity.
One noticeably absent component to the index is new-job announcements. I consider the omission a good thing because new-job announcements are one of the most unreliable economic indicators.
boon·dog·gle (bün’-däg-el) n. work or activity that is wasteful or pointless but gives the appearance of having value
No one in our area, particularly readers of this column, should have been surprised at the revelation last week that alternative energy company Xethanol Corp. might sell its Augusta plant.
You know, the plant it said would be employing more than 100 people and producing 50 million gallons of ethanol by now.
“Right now, the rest of the world owns $3 trillion more of us than we own of them.”
– Warren Buffett, Jan. 17, 2006
Chances are, you enjoy a better standard of living than your parents, certainly much better than your grandparents or great-grandparents. As an American, it is normal to expect that your children and grandchildren will have a higher standard of living than what you enjoy today.
What if the opposite were to happen?
Psst. I have a little secret I’d like to share with you – I can predict the future.
The following events will occur somewhere in our metro area during 2008:
- A longtime local business, which some residents consider an “institution,” will close.
- A local entrepreneur you’ve never heard of will open a business.
- A large national company will announce plans for a major operation in the area that will create hundreds of jobs.
A civic club recently asked me to speak on the topic of the local economy.
I’m not an economist, but I accepted the offer because communicating economic news is a good part of what I do for a living. I speak to economists, analyze economic data and translate it into language that the average person can (I hope) understand.
I also knew accepting the offer would get me a free breakfast and a nifty pen.