NSBE - March/April 2008 - (Page 29)

REGIONALNEWS Region III Economic Overview B y B r i d g e t m c Cr e a The Southeast, Weathering the Storm? W ith much of the country struggling with economic woes and a faltering housing market, states in the Southeast, NSBE’s Region III, have remained solid over the last year, adding jobs and attracting new residents to their warm climate. According to the Federal Reserve’s most recent “Beige Book” report on the Southeastern states, the economic picture in the region is a “mixed bag” characterized by an increase in retail sales, lower vehicle sales and positive tourism growth. New and existing homes sales were consistent with those in the rest of the nation, remaining well behind the 2006 pace. The Fed reports that production slowed for most manufacturers linked to residential housing but remained strong for firms connected to energy, medical and defense-related industries. Exceptional drought conditions in areas of Alabama, Georgia and Tennessee hampered crop production, while firms producing for the export market noted improved business and a positive outlook. Unemployment remained low in most parts of the region, with employers noting a continued shortage of skilled labor. In this article, we look at each of the states in Region III, discuss the general economic climate and major industries, and reveal key areas of career opportunity for engineering students and professionals. in the state; the medical, biotech and laboratory-based operations that exist throughout Florida; and tourism-sector employers such as Disney Imagineering. The state’s top employers include Publix Supermarkets, Tech Data Corporation and AmeriPlan Corporation. More than $500 million is funneled annually into sponsored research at the state’s institutions of higher education, including the University of Florida, Florida A&M University, the University of South Florida and the University of Miami. georgia Agriculture makes up a large part of Georgia’s economy, and its expansive pine tree forests produce a significant portion of the world’s resins and turpentine. Georgia is also a leading producer of marble. But throughout the state, manufacturing facilities turn out textiles, paper, food, transportation equipment, chemicals and clothing. Georgia offers a wide range of job opportunities for skilled engineers looking for jobs in both traditional and emerging industries. Think Energy Group, Inc., Robert Half Technology, CH2M Hill and Gulfstream Aerospace Corporation are among the largest engineering employers in the state. Key contributors to the state’s economy include the Centers for Disease Control and Prevention, Fort Benning and Kings Bay Naval Base. The automobile industry is thriving in the state, where Saab, Porsche, Hella and Daewoo have headquarters. Leading educational institutions in Georgia include the University of Georgia, Georgia Tech, Mercer University and Wesleyan College, as well as 10 historically black schools, among them Clark Atlanta University and Morehouse and Spelman Colleges. Maxwell Air Force Base, Fort Rucker and Fort McClellan, all of which make significant contributions to the economy and create jobs for the state’s residents. Higher education institutions include Alabama State University, Auburn University, Troy University, Tuskegee University and the University of Alabama. Florida Once largely dependent on the orange and phosphate industries, Florida’s economy has expanded to include a wide range of enterprises. And while tourism continues to be a central focus of the Sunshine State’s new economy, manufacturing and agriculture are also prominent, with industries such as electronics, plastics, construction, real estate and international banking industries coming into their own. About 40 percent of all U.S. exports to Latin and South America pass over Florida’s borders. So international trade plays a significant role in the state’s economy. The space industry represents about $4.5 billion in economic impact, with more than 15,000 employed at NASA Kennedy Space Center alone. In fact, Florida ranks fourth in the U.S. in aerospace employment, with about 23,000 total jobs in the sector. Other areas of interest to engineers include the many independent software and technology firms that have set up alaBama Manufacturing is the name of the business game in Alabama, a leading supplier of paper, chemicals, rubber, plastics, apparel, textiles, primary metals and automobiles to the world. With the Tennessee River traversing its northern section, Alabama is also the site of three Tennessee Valley Authority hydroelectric power plants, located on land once devoted to agriculture. With top employers such as Honda, Hyundai and The Boeing Company, the state is also home of NASA Marshall Space Flight Center, Redstone Arsenal, www.nsbe.org KentucKy Historically dependent on the agricultural and mining industries, Kentucky’s economy has diversified in recent years to include other significant sectors, such as manufacturing; finance, insurance and real estate; retail Continued on page 30 • march/april Kennedy space center 2008 • 29 http://www.nsbe.org

Table of Contents for the Digital Edition of NSBE - March/April 2008

NSBE - March/April 2008
Contents
The Flame of Change
What Is Your Smile Saying?
International News: Telecom Training In Nigeria
Get Involved, Get International!
NSBE International, History in Brief
Truth Power!
Is Government Work for You?
Partners for Positive Impact
Regional News: Region III Economic Overview
GM Flexes Its Green
NSBE Calendar
Hot…Not
A Well-Deserved Break
Goodness Ikeri of Caterpillar
Tonya Erwin of Toyota
Albert Rodriques of Lehman Brothers
Igniting the Torch
Finding Career Fair Success
The AE Niche
Working in Harm’s Way
Reality Check
AE Members on the Move
Advertisers Index

NSBE - March/April 2008