An Illinois real estate company has purchased the former Cooper Tire and Rubber Company plant in Albany for $8.5 million. Ray Kaye, executive vice president of Hilco, confirmed the purchase Wednesday and says the company is already working with prospective tenants.
The federal government is awarding $18 million in nationwide grants to get more young people into farming. In Georgia, two organizations will spend that money to boost—and create—new programs. The USDA says the average age of a farmer is 57 years old. And to keep the food pipeline sustainable, the nation needs more young people to get into the business.
The Georgia Ports Authority is expanding the Port of Savannah's refrigerated storage space for poultry and other cargo that needs to be kept cold. The agency's board approved the $4.75 million project Monday. It will consist of 20 container racks, each four stories tall, that will power refrigerated containers.
Friday night football is a tradition in Georgia communities. And it’s not just a big deal for sports fans. It’s also big for local businesses. Folkston is one such example. The town of 2,800 people is in southeast Georgia, between Waycross and the Florida line. And when the Charlton County High School Indians play home games, the community comes alive.
Delta Air Lines Inc. is laying off 200 workers, most of them at its headquarters in Atlanta. The world's second-biggest airline said in July that 2,000 workers were taking voluntary buyouts. It is cutting its fall schedule more than expected and has said it needs to reduce costs to match. Airlines have been coping with unusually high fuel prices and lukewarm demand from business travelers.
Coca-Cola released a strong earnings report this week. The Atlanta-based company says it had a nearly 50-percent spike in revenue for its second quarter. Revenue totaled $12.7 billion. On the strength of that news, Coke’s stock is at a 12-year high.
A Chinese aviation leasing company has announced a deal with Gulfstream Aerospace to buy 50 high-end business jets for more than $2.5 billion. Gulfstream spokesman Jeff Miller has confirmed the deal with Minsheng Banking Corp. The deal is expected to be converted into firm orders over the next three to five years.
Not even three months since landing in Savannah, Vision Airlines is leaving the market. Savannah airport officials never really saw the regional carrier as a good fit. Vision offered flights three times a week to Destin/Fort Walton Beach for a total of 90 seats of weekly service.
Georgia's new immigration law is affecting businesses beyond those in agriculture and other industries that rely on immigrant labor. Shops catering to Hispanics say, their customer base is drying up, leaving them worried about their future. One such store owner says, she might close up shop -- leaving her town with one more shuttered small business.