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Georgia’s inflation-adjusted gross state product is expected to increase 3.3 percent this year, Benson said. That is 1 percent lower than the state’s anticipated growth for the past year, but it’s also 1 percent better than the national projected growth.
Georgia’s job growth is expected to slow down this year, Benson said. State employment grew 2.5 percent in 2005, but job growth is projected to be 2 percent for 2006 and to shrink to 1.5 percent this year. At that rate, Georgia is expected to rank among the top 10 states for job growth this year, he said.
The state likely will move back into the top 10 states for economic growth when 2006 results are complete, Benson said.
According to recent news reports, Chattanooga’s Enterprise South Industrial Park is one of two sites the giant company is considering for its eighth North American auto plant. The other location is in Marion, Ark.
“We are indeed studying whether we will expand our manufacturing capacity here in North America. We are looking at sites, but as a matter of policy we don’t discuss where we are looking,” Dan Sieger, spokesman for Toyota’s North American Manufacturing Headquarters in Erlanger, KY, said Tuesday.
US Airways’ top executive is sounding a little less confident about his company’s takeover bid for Delta Air Lines.
In an interview Tuesday, CEO Doug Parker said that the recently sweetened bid for Delta by US Airways has generated little response from the Atlanta carrier’s bankruptcy creditors and that time is running out on the offer.