Across the state
• Tennessee's unemployment rate for May 2009 was 10.7 percent, which was 0.8 percent higher than the April rate of 9.9 percent. The United States’ unemployment rate for May was 9.4 percent. Lincoln County registered the state's lowest county unemployment rate at 6.5 percent. Perry County had the state’s highest unemployment rate at 24.6 percent. Knox County had the state’s lowest major metropolitan rate at 8.0 percent. Davidson County was 8.6 percent.
• The Washington Continent reported that marketing and advertising company Quebecor World Inc. would invest $35.2 million to expand in Frederick County, Va., with two new printing presses that will retain 150 existing jobs and create 30 new positions. According to the report, Virginia beat out Pennsylvania and Tennessee for the project.
ArvinMeritor announced it had reached an agreement to divest automobile shock absorber and strut assembly maker Gabriel Ride Control Products North America, which is based in Williamson County. The buyer was OpenGate Capital, a California private equity firm.
According to new figures released by the U.S. Census Bureau, the city of Murfreesboro, with its population of 101,753 is the 12th-fastest growing U.S. city with a population in excess of 100,000. Murfreesboro’s population jumped 3.5% between July 2007 and July 2008 and has increased 44.7% since 2000.
Gestamp Corp., which has secured a contract to supply structural components for the production of the new mid-sized sedan that Volkswagen has designed specifically for the U.S. market, announced plans to invest $90 million to build a new automotive parts stamping operation at Enterprise South Industrial Park creating at least 230 new jobs within three years.
Memphis’ first elected black mayor, Willie Herenton, resigned following 17 years in office. Herenton recently launched a campaign for the Ninth Congressional District seat held by incumbent congressman Steve Cohen.
Former Tennessee Republican Party Chairman Robin Smith announced her candidacy for Tennessee's Third Congressional District seat replacing gubernatorial candidate Zach Wamp. Bradley County Sheriff Tim Gobble and Chattanooga lawyer Chuck Fleischmann are also GOP candidates. Paula Flowers, former state commissioner of commerce and insurance is seeking the Democratic nomination.
Nuclear Fuel Services, whose parent corporation is Babcock & Wilcox, received a $209 million federal contract to downblend 12 tons of highly enriched uranium from the Y-12 complex in Oak Ridge.
— For more statewide business news, visit www.businesstn.com.
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