Construction, US News

Rise in infrastructure deals may boost domestic market

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Infrastructure DealsA recent boost in infrastructure deals may be indicative of trends in the market about the market.

Currently, many infrastructure deals have been made outside the U.S., decreasing the value of the domestic market and taking jobs overseas. However, a recent trend in deals within the U.S. may suggest the tides are about to turn, Pensions and Investments noted.

Marietta Moshiashvili, managing director and group head of energy and infrastructure private markets at New York-based TIAA-CREF Asset Management, noted that as the U.S. market grows overall, they expect the same to happen to the infrastructure market.

While there is a difference between making deals and actually creating new infrastructure, experts are hopeful that the market will increase as many states consider the idea of allowing private capital to fund infrastructure projects. While President Obama is pushing for clean energy, which may hinder the market, there are still plenty of deals being made.

In June, the Global Infrastructure Partners II fund bought 50 percent interest in Hess Corp.’s Hess Infrastructure Partners for $2.7 billion. One section of New York’s La Guardia Airport will be built for $3.6 billion by a group including construction company Skanska USA and Vantage Airport Group.

These deals and others to come may help boost the number of jobs in the infrastructure market.

However, the only security for job creation in this market may be to pass a bill through Congress. In July, the U.S. Bureau of Labor Statistics reported that jobs in the manufacturing industry slightly rose and ones in the construction industry remained unchanged. Adding a long-term infrastructure bill could boost wages and add jobs, U.S. deputy labor secretary Chris Lu told the Guardian. Having a bill in place may help keep jobs in the U.S. instead of sending them overseas.

– See more at: http://mrinetwork.com/resources/article-archive/articles/rise-in-infrastructure-deals-may-boost-domestic-market/#sthash.VbfjaM4G.dpuf

US News

List reveals top jobs for millennials

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Millennials

People between the ages of 18 and 34, currently referred to as the millennial generation, face modern-day challenges that older demographics may be unfamiliar with. Because of rapidly changing technologies and fluctuating economies – among other factors – many millennials are struggling to pin down which careers will be able to offer long-term job security and financial support.

Professional advocacy group Young Invincibles recently published a list that it hopes will help take some of the guesswork out of selecting a gainful profession. Every job on the list was carefully analyzed using a set of criteria. The organization took into account each position’s median salary, projected growth and the seeker’s chances of securing the job before the age of 35.

High salaries and potential for growth fuel top spots 
Physician assistant took the number 1 spot, with a median salary of over $90,000 per year and a projected growth rate of 38 percent. Notably, this position requires extensive training, which could drive millennials deeper into debt. Second on the list was actuary, a job with a median annual salary of about $94,000 and a projected growth rate of 26 percent. Third place was a tie between two careers: statistician and biomedical engineer. Each job earns median wages of over $75,000 each year and both have growth rates of 27 percent. The top five was rounded out with computer and information research scientists, who make median annual incomes of over $100,000 and have a projected growth of 15 percent.

STEM trend dominates report
The overwhelming trend that presents itself throughout the list is that positions in the science, technology, engineering and mathematics fields have the highest salaries and largest potentials for growth. This is clearly evident in the list’s top five careers, all of which fall somewhere on the STEM spectrum. Other jobs on the list that adhere to this trend include nuclear engineer, petroleum engineer, dental hygienist, therapist, logistician, financial analyst and adviser, software developer, pharmacist, credit analyst, dietician, geological technician and medical scientist.

Of course, not everyone is inclined toward math- and science-based careers, and there are still somewhat lucrative options outside the STEM realm, according to the list. Marketing specialist earned the number 6 spot on the list, making a median annual salary of $60,300 with a projected growth rate of 32 percent. Elevator installer was also included in the top 10, coming in at number 8. Other jobs not requiring STEM degrees included public relations and fundraising manager, public relations specialist, agent and business manager.

Midwest US, Software

Minnesota named fastest growing state for tech employment

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Minnesota named fastest growing state for tech employment

The employment landscape across the U.S. is constantly changing, especially when it comes to the nation’s tech jobs. This ever-evolving industry remains a major sector for traditionally cutting edge areas like California and New York, but as tech work becomes increasingly ubiquitous, more up-and-coming regions are experiencing tremendous amounts of growth.

Dice.com recently published a list of the states that are rapidly expanding their tech hiring practices, and the top spots went to areas that are not usually associated with digital employment growth. Minnesota earned the No.1 place on the list as the fastest growing state for tech employment, mostly due to the amount of company headquarters that call the region home.

Forbes magazine explained that UnitedHealth Group, 3M, General Mills, Target, Bankcorp, Medtronic, Boston Scientific and St. Jude Medical are all based out of Minnesota, and they are in the process of rapidly expanding their tech departments. The source also noted that Minnesota is becoming a popular location for startups specifically focused on tech work, like software organizations and companies focused on Apple integration.

CBS Minnesota reported that the state has expanded its tech hiring by 8.26 percent in the past six months. And while the area is still home to fewer tech positions than California and New York, the news source explained that hiring practices in these states have slowed significantly, while they only show signs of expanding in Minnesota.

Forbes spoke to Margaret Anderson Kelliher, president and CEO of the Minnesota High Tech Association, who pointed to the region’s quality of life as a central reason organizations are establishing headquarters there. She explained that a highly educated pool of qualified applicants, paired with low housing prices, makes Minnesota an enticing location for companies big and small.

Banking, Financial Services, Lending Services, Placement Annoucements

Jon Burkhart & TRG Commercial Banking Complete Senior Business Banker Search

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(Richmond, VA) August 14, 2015 – Jon Burkhart and the Commercial Banking Team of The Richmond Group USA (TRG) are pleased to announce the successful conclusion of a Senior Business Banker search for a successful and established Los Angeles-based regional bank.

Our client-company had been looking for a senior business banker in the Los Angeles marketplace unsuccessfully for several months prior to engaging us.  They needed someone who had an extensive network of COI’s throughout the central and eastern Los Angeles marketplace, knew how to underwrite loans, and could quickly bring in new relationships to the bank without much of a ramping-up period.

Due to the specific qualifications this role required, a comprehensive search was conducted to uncover and attract a pool of qualified candidates throughout the greater Los Angeles marketplace.  Using our network of knowledgeable COI’s familiar with the area, we were able to identify, qualify and attract a high-performing lower middle-market lender who was extremely passive in his search for another opportunity, but was starting to become frustrated with his current bank’s cumbersome and overly-conservative lending process.

With this exciting opportunity, this new senior business banker now has the ability to hit the ground running with a bank that has the appetite and capacity for large C&I and CRE loans throughout Los Angeles .  The bank now has a proven and high performing senior business banker who has already developed a pipeline of over 10MM in new loans and relationships that is set to close between now and the end of the year.

As your business continues to grow, so does your need for talented individuals. What are you doing today to secure the future talent needs?

Should you desire additional information about this successful search or about our firm please contact Jon Burkhart and the Commercial Banking division at 804-285-2071 or email Jon at jonb@richgroupusa.com

Food & Beverage, Uncategorized, US News

North Carolina’s wine industry continues to grow

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North Carolina WineNorth Carolina’s wine industry continues to grow, following in the spirited footsteps of its immensely successful craft beer sector.

The Charlotte Observer reported that just six years ago, the state’s wine industry was raking in $1.28 billion. Current numbers, which refer to 2013 sales, peg wine as a $1.7 billion industry for the region. Overall, 569,000 cases of vino were produced in 2013. North Carolina is currently home to 159 vineyards, which do more than simply produce full-bodied vintages, explained the Triangle Business Journal. The news source reported that the sector contributes nearly 8,000 jobs to the state, which are spread among the growing number of wineries and the 525 commercial grape-growing organizations that supply them.

North Carolina’s wineries are also reaping the benefits of an increased interest in food and wine tourism. According to the source, general North Carolina tourism expanded by 65 percent between 2009 and 2013. Over this time, vineyard tourism jumped by 500,000 visitors to over 1,700,000 visitors. TWC News noted that many of the area’s wineries have made focused efforts to attract wine enthusiasts by holding festivals and events and making themselves available for weddings.

Central US, Contract Staffing, Engineering, Heavy Equipment, International News, Manufacturing, Marketing, Midwest US, North America, Northeast US, Pacific US, Southeast US, Southwest US, US News

Fundamental Economic Data Still Strong

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US Unemployment is at record lows, but may be sneaking up a little in the next few weeks as global markets fluctuate a bit.  At 5.3%, unemployment is now almost half of its peak of 10% in October 2009.  The Center for American Progress reported that “There were 10.9 million more jobs in June 2015 than in June 2009. During this same time period, the private sector added 11.6 million jobs. In June 2015 alone, the private sector added 223,000 jobs to the economy, marking 64 months of consecutive private sector job growth.”  Employment is still strong, and with the ISM Manufacturing index reporting that the “Economic activity in the manufacturing sector expanded in July for the 31st consecutive month, and the overall economy grew for the 74th consecutive month”.  It is still a robust market for professionals to explore their career options.

Bruce Peacock
Vice President of Business Development              
The Richmond Group USA