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Business & Finance stories related to Southern Middle Tennessee

455 New Jobs Coming to Tennessee

Schneider Electric, the global leader in the digital transformation of energy management and automation, announced plans to invest $140 million in its U.S. manufacturing operations in 2024. The company will invest $85 million initially to transform and equip an existing 500,000-square-foot building in Mt. Juliet, Tennessee, and upgrade its existing Smyrna, Tennessee, manufacturing operations. Both …

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Joann’s Fabric and Crafts Files for Bankruptcy; Stores to Remain Open

Joann’s Fabric and Crafts, the 81-year-old fabric and craft retailer, has filed for bankruptcy as it struggles with customers cutting back on discretionary spending. In a statement Monday, the Ohio-based company said it filed for Chapter 11 bankruptcy protection and has secured $132 million in fresh funding, which will help reduce its debt by half, …

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AEDC Awards New Test Operations and Sustainment Contract

On March 14, the Arnold Air Force Base contracting office awarded the Test Operations and Sustainment (TOS) II contract, valued at more than $3.7 billion. This contract will ensure the continuity of the Arnold Engineering Development Complex (AEDC) ground test mission for the next several years. Beyond New Horizons, LLC (BNH), Huntsville, AL, a joint …

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1,000 Family Dollar Stores to Close

Family Dollar plans to close about 1,000 stores nationwide as inflation takes a bite out of consumers’ wallets and low-cost-retailers’ profits. Family Dollar will close 600 locations in the first half of this year and 370 stores over the next several years as store leases expire. Also, Dollar Tree, which owns Family Dollar, reports it …

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Three Expensive Vehicles Stolen from Dealership

It’s one of the biggest thefts that longtime Lawrenceburg officers can remember. Three expensive vehicles were allegedly stolen recently from a dealership, including a brand-new Corvette driven right off the showroom floor. The three vehicles are worth more than $300,000. That includes a $148,000 new Z06 Corvette, a 2024 GMC Sierra HD 2500 Denali pickup …

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Proposal to Stop Grocery Tax in Tennessee

An effort to alleviate financial burdens on Tennessee families is moving forward as the state House advanced a bill that would eliminate the state’s grocery tax. Tennessee’s sales tax rate on food currently stands at 4%, with local jurisdictions able to add up to an additional 2.75% in local sales taxes. The proposed legislation prohibits …

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Humble Baron to Celebrate 1st Anniversary

On March 23, 2023, Humble Baron debuted at Nearest Green Distillery, home of Uncle Nearest Premium Whiskey, winning the GUINNESS WORLD RECORDS title for the Longest Bar in The World. Conceived by Keith Weaver, former Sony Entertainment Executive and Co-Founder of Uncle Nearest, Humble Baron brings the vibrant spirit of Music City to Tennessee whiskey …

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Unemployment Rates Up in 93 of 95 Tennessee Counties

Holiday employment that ended at the start of the new year is one of the leading factors that caused an increase in county unemployment rates across Tennessee in January 2024. While statewide unemployment numbers are adjusted to consider the impacts of seasonal labor, county unemployment rates are not adjusted. Ninety-three of Tennessee’s 95 counties experienced …

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Tullahoma Utilities Authority Receives State Funding

Tennessee Gov. Bill Lee and Department of Economic and Community Development Commissioner Stuart C. McWhorter have announced the 50 recipients receiving funding through the Infrastructure Planning Grant (IPG) program.  The $10.7 million in funding is part of the Rural Economic Opportunity Act and will assist communities and utility districts across Tennessee with long-term planning for …

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Tennessee Starts New Year with Continued Low Unemployment

Tennessee started the new year with little movement in its seasonally adjusted unemployment rate. New data from the Department of Labor and Workforce Development (TDLWD) showed the statewide jobless number inched up only 0.1 of a percentage point to 3.5%. December’s revised rate was 3.4%. In a year-to-year comparison, the statewide unemployment rate increased by …

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