Who owns America's businesses?

As America's population has become more diverse, so has ownership of the nation’s businesses. There were more Hispanic-owned businesses overall and more minority-owned businesses in various sectors in 2020 than a decade earlier, according to the Census Bureau’s 2021 Annual Business Survey (ABS). The diversity of business owners mirrors the changing profile of the nation’s population. The 2020 Census found that the population of nearly all race and ethnicity groups in the United States had grown since 2010 with the exception of the White alone population declined during the decade. The ABS includes annual business statistics and demographic characteristics of employer firms such as owners’ race, ethnicity, sex and veteran status. In 2020, there were a total 5,775,258 U.S. firms in all sectors. They employed about 129.3M workers and had total annual payroll of $7.3T. About 20% or 1.2M of these employer-businesses were owned by minorities. They employed about 9.9M employees and had annual payroll of $357.4B. According to the ABS, business ownership among some racial and ethnic groups was concentrated in certain industries. (US Census 01/06/23) Who Owns America’s Businesses? (census.gov)

Census Academy data workshops

The U.S. Census Academy's "It's All in the Tools" webinar series, which begins Jan. 12, offers hands-on workshops in accessing topical exercises in locating Census Bureau data tools. It's an opportunity for the inexperienced to the advanced people/companies to walk through the tools with experienced staff. Each webinar will have one or more required prerequisite(s) for data users to review before attending. The goal is to get the tools and locating the data for specific topics or activities. Each webinar is scheduled to last 90 minutes and will start at 1 p.m. CT. All webinars are free and open to the public. Registration is limited and will be available on a first-come first-served basis. (US Census 01/06/2) It’s All in the Tools Webinar Series (census.gov)

Bryan Foods' prez has died

West Point, Miss., businessman George W. Bryan, with a long history of community service has died at age 78. Bryan, who served as president of Bryan Foods, CEO for Sara Lee Foods and founder of Old Waverly Golf Club died Jan. 6 of natural causes. Bryan's father John H. Bryan Sr. founded Bryan Foods in the 1930s. George Bryan obtained a degree in Business Administration from Mississippi State University in 1968. (Clarion Ledger 01/06/22)

HII earns DDG modernization pact

HII (formerly Huntington Ingalls Industries) of Pascagoula, Mississippi, is awarded a $10,516,400 cost-plus-fixed-fee contract (N00024-23-C-2324) for the DDG 1000 and DDG 1001 modernization period planning. Work will be performed in Pascagoula and is expected to be completed by December 2023. FY 2023 other Navy procurement funds in the amount of $9,744,650 (100%) will be obligated at time of award and will not expire at the end of the current fiscal year. This contract was not competitively procured in accordance with 10 U.S. Code 2304(c)(1) - only one responsible source and no other supplies or services will satisfy agency requirements. Naval Sea Systems Command, Washington, D.C., is the contracting activity. (DoD 01/06/23)

Mississippi's green hydrogen hub

Hy Stor Energy is building a green hydrogen hub in Mississippi to generate zero-emission hydrogen energy while creating a new industry with hundreds of jobs and economic growth, according to the company. The project will be the largest of its kind in the U.S. and will produce clean energy at scale that can be used as an alternative to fossil fuels in industries that are hard to decarbonize. Hy Stor is Jackson-based but has land across the state, all the way down to their office in Gulfport. The company has acquired 70,000+ acres in south Mississippi.

(Green hydrogen is a form of renewable energy that is produced by splitting a water molecule into hydrogen and oxygen parts via electrolysis. When powered it uses renewable energy sources, such as solar and wind, that has zero carbon and zero methane emissions.)

Hydrogen energy is a part of bringing flexibility and reliability to the energy grid because it can be used as an alternative to fossil fuels or electricity. Hy Stor is partnering with the Port of Gulfport and Hancock County Port and Harbor Commission (HCPHC) to help bring renewable hydrogen energy to the Gulf Coast region. HCPHC is home to Port of Bienville Industrial Park and Stennis International Airport. This partnership will allow Port Bienville to be the first Gulf Region port to use renewable hydrogen fuel in its daily operations. (Sun Herald 12/30/22)

Regional energy forecast for '23

The LSU Center for Energy Studies released its 2023 edition of the Gulf Coast Energy Outlook (GCEO) forecast and overview of the region’s energy industry. The 2023 GCEO addresses numerous the potential: 

* By 2Q, Louisiana is expected to gain about 3,500 jobs. Texas is forecasted to gain about 12,200. The model does not anticipate employment in either state to reach pre-COVID levels. 

* Drilling activity will increase somewhat. Oil production is expected to reach pre-pandemic levels.

* Both O&G prices will likely fall. Oil prices are anticipated to converge back to pre-Russia invasion levels. Natural gas will likely settle at average levels but higher than over the last decade. 

* Regional oil and natural gas production is anticipated to experience a decade of growth but expected to decline by the end of the year. 

* Long-run energy demand will lead to increased U.S. energy exports but a global recession would reduce demand. 

• The Russian war will force supply adjustments. Crude oil prices will gradually attenuate over the next few years. Gulf Coast natural gas prices will likely remain elevated (post-2008 trends) due to LNG export pressures. 

* Decarbonization policies will challenge Gulf Coast energy manufacturing but will likely create opportunities to take the lead in developing low- and net-zero emissions products. GCEO sees decarbonization creating considerable regional capital investment opportunities. 

* Solar capacity will see significant growth but will only be a small share of total electricity generated for the near future. 

* As much as $175.4B in new energy manufacturing investment activity will occur through 2030.

* Production in the refining industry has rebounded and is anticipated to continue although downward revisions may be needed if a serious global economic contraction arises in the upcoming year. (Work Boat 01/05/23) Louisiana, Texas to see increase in oil and gas industry job opportunities | WorkBoat

Special election in MS District 23

JACKSON, Miss. - Voters in House District 23 in North Mississippi will go to the polls Jan. 10 for a special legislative election to fill the current term of State Rep. Jim Beckett. Becket resigned last year to become director of the Mississippi Public Utilities. District 23 covers Calhoun, along with parts of Webster, Grenada and Lafayette counties. Polls will open from 7 a.m. to 7 p.m. (WTVA 01/05/23)

MSU to lead UAS research for DHS

STARKVILLE, Miss. - Mississippi State University was selected again to lead a major uncrewed aircraft systems (UAS) research, testing and evaluation project on behalf of the federal Department of Homeland Security (DHS). The award was a 5-year contract with a ceiling of $18.7M, including about $4M in funding awarded in FY 2022. MSU’s Raspet Flight Research Laboratory will spearhead the effort. Under the new contract, MSU will continue to scout, evaluate and test emerging UAS technologies; developing a cost-effective prototype UAS customized for DHS; and to conduct cybersecurity vulnerability assessments for UAS aircraft. “This project is a great example of how MSU can leverage internal strengths and external relationships to deliver full solutions in support of national security,” said MSU Vice President for Research and Economic Development Julie Jordan. MSU was selected in 2017 to lead Homeland’s Common UAS Test Site in conjunction with multiple state partners. (MSU 01/06/23) MSU continues UAS research, testing and evaluation for U.S. Homeland Security with $18.7 million contract | Mississippi State University (msstate.edu)

Fed's fight cooling labor market

WASHINGTON - U.S. employers added 223,000 jobs in December, which is evidence the economy remains healthy even as the Federal Reserve is raising interest rates to slow economic growth and hiring. As companies added jobs, the unemployment rate fell one-tenth of a percent to 3.5%, matching a 53-year low, according to the Labor Department. The December report suggests the labor market may be cooling in a way that could aid the Fed’s fight against high inflation. Last month’s gain was the smallest in two years. Average hourly pay growth eased to its slowest pace in 16 months, which may reduce pressure on employers to raise prices to offset labor costs. Average hourly wage growth was up 4.6% from December 2021. It peaked at 5.6% in March. Wall Street appears encouraged by the report’s milder pay growth and sent stock market futures toward gains. Some economists foresee a recession in the second half of 2023, a consequence of the Fed’s multiple rate hikes. Central bank officials are projecting unemployment rate to reach 4.6%. Higher pay typically fuels consumer spending, which can keep inflation up. (The AP 01/05/23) Cooler hiring and milder pay gains could aid inflation fight | AP News

Take a 2-minute internet speed test

Mississippians can assist the Office of Broadband Expansion and Accessibility of Mississippi (BEAM) in providing better broadband service throughout the state by taking a 2-minute speed test. The state is expected to receive a large amount of federal funding for broadband expansion and BEAM's office is going to administer the grant monies, according to Director Sally Burchfield Doty. A major portion of that grant will be determined by the number of unserved/underserved broadband locations in the state. Currently, an FCC map shows 100% of Mississippi has broadband coverage. But BEAM says data shows the state is underserved. BEAM must file a challenge to the FCC’s map by Jan. 13. BEAM encourages residents experiencing slow internet service to visit broadbandms.com. The website runs three separate speed tests and asks survey questions about internet usage. (City of Meridian 01/05/23) Broadband agency seeks public's help | Local News | meridianstar.com

McCarthy makes gains, voting tonight

WASHINGTON - While Republicans continue to squabble over who will be the next speaker, there are no members in the U.S. House of Representatives - only members-elect. Without a speaker, none can be sworn in, and the 118th Congress can’t convene or vote on any rules. Parliamentary procedure has been jettisoned. Members of both parties are unsure whether they can call votes or make motions because there is no speaker to rule on their requests. The rule-less/member-less House may only be a blip in history if Republicans find speaker this week, which is a possibility, but seemed distant Jan. 4 as Rep. Kevin McCarthy (R-Calif.) lost a second roll call of votes on the floor. In 1923, the process of selecting a speaker lasted three days. In 1855, it dragged on for two months and 133 ballots. (The AP 01/05/23) US House has no members, no rules as speaker race drags on | AP News  

UPDATE: The standoff is stretching into a third day on Jan. 5 after six failed votes to decide on a House speaker.

UPDATE2: 

EZELL PLEDGES SUPPORT OF MCCARTHY

WASHINGTON, D.C. (WLOX) - In a statement released by Mike Ezell on Jan. 5, Ezell pledged his support for Rep. Kevin McCarthy to become the Speaker of the House. Ezell was originally to be sworn in as Mississippi’s newest Congressman on Tuesday. However, due to a historically long vote for a new Speaker of the House, his oath has been postponed until the vote can reach its conclusion.

UPDATE3:

MCCARTHY MAKES GAINS, VOTING AGAIN TONIGHT

WASHINGTON (AP) — Republican leader Kevin McCarthy flipped 15 colleagues to support him in dramatic votes for House speaker on Jan. 6 making extraordinary gains on the fourth day and the 12th and 13th ballots in a historic standoff testing American democracy and the GOP majority’s ability to govern. The switched votes from conservative holdouts put McCarthy closer to seizing the gavel for the new Congress — but not yet. Republicans voted to adjourn until 10 p.m. to try again. “I believe at that time we’ll have the votes to finish this once and for all,” McCarthy told reporters. The turnaround came after McCarthy agreed some of the detractors’ demands, including the reinstatement of a longstanding House rule that would allow any single member to call a vote to oust him from office.

New: Won't ovverride Guv vetoes

JACKSON, Miss. - There is tension in the air between Mississippi's legislators and Gov. Tate Reeves that may lead lawmakers to override the governor's 2022 vetoes of 10 project passed by the legislature. The state Supreme Court considered the idea of line-item vetoes in 2020, but ruled the governor was within authority to partially veto appropriation bills. In Week #1 of 2023, the governor delivered 10 line-item vetoes made last April, four that affect Jackson-area projects. “I think that we have the votes override,” House Minority Leader Rep. Robert Johnson told WLBT. Reeves referenced a section of the state Constitution that states he may veto parts of any appropriation bill. But Sen. John Horhn says the bill in question is a transfer bill. That means, according to Hohn, it shouldn't fall under the purview. “We have checks and balances," said Rep. Chris Bell, and this is" one of the checks and balances that we’re going to work through and see if we can get things right.” The clock is ticking. Lawmakers have a short time to decide whether to take a vote at overriding Reeves' vetoes. (WLBT 01/04/23) Legislature discussing possible override of Governor’s line-item vetoes (wdam.com) 

LAWMAKERS DON'T HAVE VOTES IN SENATE TO OVERRIDE GUV

UPDATE: JACKSON, Miss. (AP) - Mississippi lawmakers will not try to override Gov. Reeves' vetoes of spending for 10 projects, including improvements to a state-owned golf course in Jackson. Reeves struck down nearly $27 million worth of projects last April, after lawmakers had left the Capitol. That pushed talks of an override into the 2023 session, which began Jan. 3. Overriding a governor's veto takes a two-thirds majority in both chambers. House Speaker Philip Gunn told reporters on Jan. 5 they had the support to override ... "But the Senate ... tells us they do not.”

Delta to add larger jets to GTRA

Delta Air Lines will begin using larger 76-seat Bombardier CRJ-900 jets with two round-trip flights between Atlanta and the Golden Triangle Regional Airport (GTRA) in Columbus, Miss., beginning in April. The flight times are arranged to maximize connections for travelers based on current patterns. GTR passenger numbers have returned to pre-pandemic levels with year-over-year growth since 2020. GTRA Executive Director Matt Dowell said the larger jets are part of a long-term plan to meet the regional community’s needs. (GTRA 01/03/23) GTR adds larger jets - Golden Triangle Regional Airport

Gruenberg is chair of FDIC board

Martin J. Gruenberg was sworn in as Chairman of the FDIC Board of Directors on Jan. 5. He has been a member of the FDIC Board since August 2005. He previously served as Vice Chair from August 2005 to July 2011 and as Chairman from November 2012 to mid-2018. Gruenberg. joined the FDIC Board after congressional experience in financial services and regulatory arenas. He was senior counsel to Sen. Paul Sarbanes (D-Md.) on the staff of the Senate Committee on Banking, Housing, and Urban Affairs from 1993-2005. Gruenberg served as Chairman of the Executive Council and President of the International Association of Deposit Insurers (IADI) from November 2007-12. In addition, he served as Chairman of the Federal Financial Institutions Examination Council from April 2017 to June 2018. (FDIC 01/05/23) FDIC: Martin J. Gruenberg

MSPA board to meet Jan. 26

The Mississippi State Port Authority board of commissioners will meet on Jan. 26 at 9 a.m. at the Port’s administrative office on the 14th floor of the Hancock Bank Plaza, located at 2510 14th Street in Gulfport. Meeting times are subject to change. Please visit the Calendar of Events page for the most up-to-date information. Board meetings are open to the public. (MSPA 01/04/23)

Regional DoD contract 4 Jan.

BAE Systems – San Diego Ship Repair, San Diego, California (N00024-18-D-4325); Vigor Marine LLC, Portland, Oregon (N00024-18-D-4326); General Dynamics – National Steel and Shipbuilding Co. (NASSCO), San Diego, California (N00024-18-D-4327); Marine Group Boat Works LLC,* Chula Vista, California (N00024-18-D-4328); Pacific Ship Repair and Fabrication Inc.,* San Diego, California (N00024-18-D-4329); East Coast Repair and Fabrication,* Norfolk, Virginia (N00024-18-D-4330); Austal USA LLC, Mobile, Alabama (N00024-21-D-4443); Epsilon Systems Solutions Inc., Portsmouth, Virginia (N00024-21-D-4444); and Continental Marine of San Diego LLC, San Diego, California (N00024-21-D-4445), are awarded a combined $389,000,000 in firm-fixed-price, cost-plus-fixed-fee, indefinite-delivery/indefinite-quantity modifications to the previously awarded multiple award contract for maintenance, modernization and repair requirements for littoral combat ships homeported in San Diego, California. Work will be performed on the West Coast of the continental U.S. (95%); and outside the continental U.S. (OCONUS) (5%). Of the work performed OCONUS, the country included is Singapore. Work is expected to be completed by October 2023. No funding will be obligated at time of award. Naval Sea Systems Command, Washington, D.C., is the contracting activity. (DoD 01/04/23)

Mardi Gras season in south MS

BILOXI, Miss. - The 2023 Mardi Gras carnival season is underway and South Mississippi is ready to let the good times roll. (WLOX 01/02/23) LIST: 2023 Mardi Gras Parade Schedule (wlox.com) 

Senior advisor to CBRNE command

Hickory, Miss., native Charles Hughes, a retired senior noncommissioned officer and Army civilian became the Deputy to the Commanding General and senior U.S. Army civilian for the Aberdeen (Md.) Proving Ground-HQ of the 020th Chemical, Biological, Radiological, Nuclear, Explosives (CBRNE) Command. Hughes is the former deputy operations officer for the command. He's served there since 2010. The 20th CBRNE is home to 75% of the active-duty Army’s Explosive Ordnance Disposal technicians and CBRN specialists. Hughes retired from the Army as a master sergeant. In his new position, Hughes will exercise broad authority to formulate strategic plans, policies and programs in support of CBRNE operations, readiness and force structure, as well as technical and civilian workforce acquisition, development, employment and recruitment. (US Army 12/30/22)

Germany gets 1st La. LNG shipment

Germany received its first import of liquefied natural gas (LNG) on Jan. 3 from Louisiana's export terminal in Cameron Parish, according to Venture Global LNG. The Calcasieu Pass terminal loaded roughly 170,000 cubic meters of LNG onto the Maria Energy, a tanker owned by the Greek firm Tsakos Energy Navigation. The shipment arrived in Germany at the Uniper LNG terminal in Wilhelmshaven, a city situated on its northern coast. The cargo is enough to power 50,000 German households for a year, the company reported. Some European countries have been seeking new sources of LNG since Russia, its primary supplier, invaded Ukraine in February. 

As European nations beefed up LNG import capacity, U.S. export infrastructure has ballooned - particularly along Louisiana’s coast. LNG industry leaders believe international buyers are eager to sign long-term contracts for the fuel due to events in Ukraine and Russia's blocking of its natural its gas lines to Europe, according to the Gulf Coast Energy Outlook from LSU's Center for Energy Studies. 

Feeding the demand for U.S. natural gas is its abundant supply and low price compared Europe or Asian markets. Both U.S. and Europe prices have both recently fallen. Futures for Henry Hub, the U.S. benchmark for LNG, were trading around $4 per million BTUs on Jan. 3. Futures for Dutch TTF, the European benchmark, were trading at roughly $24 per MMBtu as of the same day. (NOLA.com 01/04/23) Germany’s first LNG shipment came from Louisiana terminal | Business News | nola.com

Madison building on '22 success

After a stellar 2022 economic development year, the Madison County Economic Development Authority (MCEDA) is looking to build on its successes this year. MCEDA is working on eight projects that could be announced by the end of the year. Two may make decisions in the 1Q of 2023, according to Executive Director Joey Deason. Madison County was selected for nine projects in 2022 with a committed investment of $585B, the majority of which was with Nissan. Those nine projects created 413 jobs. The estimated revenue from the corporate investment would be a recurring $4.1M for the county tax books. Those eight projects, should all choose Mississippi, would total $6.9B in investments and a total of 7,600 jobs. Deason said the projects cover a variety of industries. Two of those eight projects are already in the final stages of competitions ($181M investment/450 jobs). "I think we are in a good position for both," Deason told the Clarion Ledger. 

Nissan announced it is investing $500M to transform the Canton (Miss.) Assembly Plant to build the company’s new electric vehicle line in 2025, its COO Ashwani Gupta said batteries for the new EVs will be assembled in Canton in the future. Most car plants converting to EVs have a battery facility locate nearby. Envision now partners with Nissan in England and does batteries in Smyrna, Tenn. But there hasn't been a battery partner selected for Canton. A major win for MCEDA in 2022 was Amazon, which completed its transformation in August into Mississippi's first robotic sorting center in Canton that may employ upwards of 1,500 people. (Clarion Ledger 01/02/23)