Latest news with #SierraNevadaCorporation
Yahoo
3 days ago
- Business
- Yahoo
$100M investment to bring hundreds of jobs to Dayton International Airport
The Dayton International Airport is receiving a large investment that could create hundreds of new jobs. [DOWNLOAD: Free WHIO-TV News app for alerts as news breaks] As reported on News Center 7 at 6:00, Sierra Nevada Corporation will invest almost $100 million into Dayton International Airport. TRENDING STORIES: Man found with over 200 grams of heroin, cocaine during traffic stop Deputies searching for man accused of stealing a package from someone's porch in Greene County Mom attacks 12-year-old daughter inside nature preserve, investigators say The corporation is building two more hangars, in addition to its two existing hangars, at the airport for its federal government contracts. This addition means more planes owned by the government will be landing here. City commissioners recently approved $2 million to help Sierra Nevada Corporation grow at the airport. The company does maintenance in its hangars, updating and improving the federal government's fleet of aircraft, including the largest 747s. 'To access those hangars, you need ramp repairs. A lot of concrete has deteriorated over the years since Emery left about 20 years ago,' Dayton Aviation Director Gil Turner said. Turner added that the work the city does for smooth runways and access brings large benefits. Each of the two new hangars that the corporation is building carries about a $47 million price tag in construction spending. 'They're creating jobs for the community. Each hangar represents about 100 jobs per hangar. So, four hangars, almost 400 jobs that will be created,' Turner said. News Center 7 was there when the corporation dedicated its second hangar last October. Now they hope to have this third hangar done by this October and a fourth completed by Spring 2026. It's bringing this side of the airport back to life, and city leaders hope it might even bring more investments from other companies. 'The Sierra Nevada only occupies about 25% of that ramp, so that's 75% more that could be leased for more development, more hangars could be built on that site,' Turner said. The corporation calls its growing campus in Dayton the Aviation Innovation and Technology Center. [SIGN UP: WHIO-TV Daily Headlines Newsletter]
Al Jazeera
10-04-2025
- Business
- Al Jazeera
China's 84 percent retaliatory tariff on US goods takes effect
A steep 84 percent tariff on all United States goods entering China has kicked in, ratcheting up a trade war with Washington while calling for a dialogue 'on the basis of mutual respect and equality'. The new rate – a 50 percent hike on Beijing's previous 34 percent levy on US goods – took effect at 12:01am Eastern Time [04:00 GMT] on Thursday, according to China's State Administration Council. It applies to all US products entering the world's second-largest economy, which, according to the office of the US Trade Representative, totalled $143.5bn last year. This marks China's second retaliatory tariff hike in response to US duties on Chinese imports, which now stand at 125 percent. Alongside the new tariffs, Beijing has also blacklisted 18 US companies, including aerospace manufacturer Sierra Nevada Corporation. Also on Thursday, China's Ministry of Commerce said that China is open to a dialogue with the US but this must be on the basis of mutual respect and equality. Pressure, threats and blackmail are not the right way to deal with China, ministry spokesperson He Yongqian told a press briefing when asked about whether the world's two largest economies have started tariff negotiations. China will 'follow through to the end' if the US insists on its own way, He added. World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala warned that the escalating trade feud could slash US-China trade by as much as 80 percent, with grave implications for the global economy. 'Of particular concern is the potential fragmentation of global trade along geopolitical lines,' she said. 'A division of the global economy into two blocs could lead to a long-term reduction in global real GDP by nearly 7 percent.' The US-China tit for tat comes as US President Donald Trump walks back a broader set of global tariffs that had triggered a sharp stock market selloff and stoked fears of a recession. On Wednesday, Trump announced a 90-day pause on previously announced 'reciprocal' tariffs targeting about 60 countries – excluding China – while leaving a 10 percent baseline tariff in place. Markets responded with relief: the US's benchmark S&P 500 and Nasdaq stock indexes surged 9.5 percent and 12.16 percent respectively, snapping a brutal weeklong decline. Stocks across Asia also rallied on Thursday, with gains in Hong Kong, Tokyo, Taipei, Australia, Indonesia and Singapore. The White House said the tariff pause was a reward for countries that refrained from retaliating against US trade moves. Trump, meanwhile, blasted China for showing 'a lack of respect' towards global markets and for 'ripping off' the US. However, later in the day, Trump struck a more conciliatory tone and left the door open for a deal with China. 'Look, nothing's over yet, but we have tremendous amount of spirit from other countries, including China,' Trump said outside the White House. He insisted that Beijing 'wants to make a deal' but 'just don't know quite how to go about it'. 'It's one of those things. They're proud people,' said Trump. Still, analysts warned that Trump's hardline approach towards China could prolong the standoff. 'I think if the current pattern stands, China will continue to retaliate until there starts to be some kind of progress,' said Sophia Busch, the assistant director at the Atlantic Council's GeoEconomics Center. 'We've seen that Beijing is very comfortable and has plenty of practice with these kinds of coercive economic tools.' 'Trump's singling out of China will likely reinforce the view in Beijing that there is a coherent strategic plan to contain and suppress China,' said Bill Bishop, an American journalist and China analyst. Trump has defended his tariff policy as a way to revive US manufacturing by pressuring companies to bring production back to the country. He argues that China, in particular, is undercutting US industries by 'dumping' cheap, excess goods onto global markets. With tensions still high, China on Wednesday warned its citizens to 'fully assess the risks' before travelling to the US.
Yahoo
13-02-2025
- Business
- Yahoo
Dayton State of the City address highlights protecting youth, job growth
DAYTON, Ohio (WDTN) — Dayton city leaders are looking ahead to 2025, addressing residents during their annual State of the City address. During the address, leaders looked back on issues the city faced over the last year, before covering the plan to start fixing those issues and what lays ahead. Creating a safer community was the cornerstone as Dayton Mayor Jeffrey Mims Jr. spoke to residents on Wednesday night. Mayor Mims highlighted plans for economic development but focused on a new peace initiative to combat gun violence in the city — something that he says deserves undivided attention. Community activists inspiring youth with Dayton's history: 'the City of Peace' The main way Mims is looking to enact change is through a new peace campaign that launched at the end of January. It aims to protect young people in the city from gun violence and bolster Dayton's residents economically. 'I want to create a type of space in Dayton as if every person and child and every citizen were my own relative or my own child,' said Mims. The city of Dayton saw a massive increase in youth gun violence in 2024, with over two dozen young people being killed over the course of the year. City leaders say that policies directly addressing the violence are key, but that supporting residents and the city's economic growth is the best long-term solution. One way is through raising the median income. 'We've been able to raise our median income by at least $11,000 in the last ten years,' said Mims. 'I want that to continue. I want to continue at a faster pace.' Other initiatives are in place to make the city attractive for investors and create job growth. Projects like On Main and incoming companies like the Sierra Nevada Corporation and Joby Aviation will bring hundreds of millions of dollars and hundreds of jobs to the Gem City — something Commissioner Chris Shaw is working specifically toward. 'We're excited about the opportunity for other high tech manufacturing companies willing to come to our area, staying in our area and building,' said Dayton City Commissioner Christopher Shaw. 'Those are ongoing, they never stop.' Dayton is cleaning up downtown ahead of NATO assembly in May 2 NEWS spoke to residents who were in attendance Wednesday night, saying while these projects are ambitious, Dayton should not lose sight on the people who need help the most. 'How exactly are we going to save our neighborhoods?' asked one resident, who goes by Mama. 'Everything sounds good, but we have to have specifics. What specific steps are we going to take?' Mayor Mims says the city plans on staying aggressive on policies combatting gun violence and protecting the city's youth. The full rundown of plans highlighted during the address can be found on Dayton's website. Dayton's next city commission meeting will be Wednesday, Feb. 19. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
