IAMC News Briefs—Week of February 6, 2023
By John Salustri
US BUREAU OF LABOR STATISTICS-The unemployment rate slipped to 3.4% in January, down from 3.5%, as 517,000 jobs were added to US payrolls. This was a milestone of sorts, in that the month’s unemployment figures proffered by BLS hit a level unseen since May of 1969. What’s more, the jobs figure more than doubled economists’ expectations. Some 19,000 of those jobs were in manufacturing. “In 2022,” reports BLS, “manufacturing added an average of 33,000 jobs per month.”
https://www.bls.gov/news.release/empsit.nr0.htm
SUPPLY CHAIN DIVE—Small shippers will now have access to retailer Gap’s fulfillment and distribution services through a deal forged with UPS. Small businesses will be able to take advantage of the Gap’s 35 warehouse and distribution centers through the UPS Ware2Go digital platform, providing “one-day click-to-door fulfillment.” The retailer’s supply chain capabilities were previously offered only to “billion-dollar brands,” the retailer stated in a release.
https://www.supplychaindive.com/news/gap-ups-logistics-small-business-supply-chain-gps/642070/?utm_source=Sailthru&utm_medium=email&utm_campaign=Issue:%202023-02-06%20Supply%20Chain%20Dive%20%5Bissue:47845%5D&utm_term=Supply%20Chain%20Dive
COMMERCIAL PROPERTY EXECUTIVE—Supply chain solutions provider NFI Industries has renewed its lease at the Perris (CA) Distribution Center. The 864,000-square-foot deal helps solidify the Inland Empire’s boast of having the Number One lowest vacancy—only 1.1%--in the nation. Newmark spoke for the landlord, Ares Management.
https://www.commercialsearch.com/news/nfi-industries-extends-864-ksf-inland-empire-lease/
COMMERCIAL OBSERVER—The rising interest-rate picture didn’t dissuade Brookfield from plucking down $328.7 million for a newly completed distribution center in Southern California’s Cherry Valley. The two-building, 1.8-million-square-foot complex, fully leased to fashion company Shein, was previously owned by Shopoff Realty Investments and Artemis Real Estate Partners. CBRE spoke for Brookfield in the deal.
https://commercialobserver.com/2023/02/california-brookfield-shein-sale-industrial/?utm_source=Sailthru&utm_medium=Email&utm_campaign=DailyRU&utm_term=2023-03-02-30440650
TRANSPORT DIVE—The Department of Energy is distributing $118 million to boost the production of biofuel for transportation and manufacturing needs. The department’s Bioenergy Technologies Office will handle the funding of some 17 projects being spearheaded by universities and private companies. The grants will range from $453,000 to $80 million, and dovetails with the Biden Administration’s net-zero emissions deadline of 2050 as well as its target of a 100% clean electrical grid by 2035.
https://www.transportdive.com/news/energy-dept-17-projects-biofuel/642189/?utm_source=Sailthru&utm_medium=email&utm_campaign=Issue:%202023-02-07%20Transport%20Dive%20%5Bissue:47885%5D&utm_term=Transport%20Dive