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University of South Carolina and Westinghouse to Partner on Nuclear Workforce Training

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The University of South Carolina and Westinghouse Electric Company announced that they will be partnering on nuclear industry education. According to the press release from the University, the two parties will “create a multidisciplinary nuclear workforce development program to support U.S. fleet deployment of AP1000® plants. The new program will be centered at the USC Molinaroli College of Engineering and Computing’s planned Nuclear Innovation Center”. The interesting twist here is that two Westinghouse AP1000 had been under construction in South Carolina but were cancelled in 2017 after delays and cost overruns. Westinghouse’s current parent company, Brookfield Asset Management, has been in negotiations with the South Carolina Public Service Authority to purchase and restart construction of those two units. Brookfield has until March 2028 to decide whether or not to move forward with the proposed purchase. It should be noted that two AP1000 units in Georgia were fully completed in A...
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Dallas Fed: Texas Service Sector Flat in September

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Continuing the pattern that we have seen in recent months, the Dallas Fed’s September Texas Service Sector Outlook Survey didn’t live up to the example set by its manufacturing counterpart. The top line revenue index tipped into negative territory in September, falling 7.5 points to -0.9. The business conditions indexes did the same, falling from slightly positive in August to slightly negative in September. The general business activity index fell 6 6 points to -1.8, while the company specific outlook fell 6.2 points to -3.2. The only bright spot was the employment index, which increased from +0.8 in August to +4.1 in September. Similarly the part-time employment index inched higher, but the hours worked index moved lower m/m. The six-month forward expectations indexes were generally flat to slightly higher m/m.  
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July Case-Shiller Ticks Higher

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Housing prices moved modestly higher in July according to the latest release of the S&P Cotality Case-Shiller Indices. The National Composite Index (NSA) increased 1.9% y/y in July, compared to the 1.6% annual gain reported in June. However, the press release notes that “home prices continued to decline in real terms in July 2026, marking the 14th consecutive month of real declines”. The largest eastern US metros continue to post the highest y/y growth rates in the 20-City Composite Index, led by Chicago (+6.86%), New York (+5.78%), Cleveland (+4.22%), Miami (+3.53%), and San Francisco (+3.48%).  The West and Sunbelt metros generally continue to post the largest y/y losses. Seattle saw the largest decline at -1.57%, followed by Las Vegas (-1.29%), Denver (-1.09%), Tampa (-0.73%), and Portland (-0.65%).
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Texas: Governor Issues Disaster Declaration the Price of Diesel

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Texas Governor Greg Abbott issued a 30-day disaster declaration on Monday over the price of diesel fuel. According to the press release from the Governor’s office, the declaration allows for the expanded use of dyed diesel on the state’s roads. As the press release explains, dyed diesel is an “off-road fuel marked red, typically used in agricultural operations, and sold without a motor-fuels tax”. The declaration also “suspends state oversize and overweight permitting requirements for vehicles loaded with fuel, agricultural, or timber products”. At the same time, Abbott has requested a waiver from the USEPA from “ultra-low sulfur diesel requirements”. This waiver would reportedly increase diesel fuel availability in the state. 
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Dallas Fed: Manufacturing Indexes Stronger in September

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The Texas manufacturing sector saw a strong increase in activity again in September according to the results of the Federal Reserve Bank of Dallas Texas Manufacturing Outlook Survey . The top line production index increased 13.4 points m/m to 29.5. This was the third consecutive monthly increase in this index and its highest reading since July 2021. Similarly, other indexes such as new orders, capacity utilization, and shipments all hit multi-year highs. Even the employment index moved 7.1 points higher m/m to 15.1. Despite these strong results, optimism among Texas manufacturers appears to have weakened somewhat, with the six-month forward expectations indexes all coming in flat to slightly lower m/m in September.  
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Georgia: Pirelli Announces $1.2 Billion Expansion

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Pirelli North America will invest $1.2 billion to expand its Rome, Georgia production facility according to a press release from the Georgia Governor’s office. The new facilities are expected to be fully operational by 2033 and are expected to generate 1,000 new jobs. The existing Pirelli Rome facility currently employs 234 people.
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Kentucky: Governor Creates Office of Music

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On Friday, September 25, Kentucky Governor Andy Beshear signed an executive order creating the Governor’s Office of Music to support the state’s music industry. The office will be charged with “highlighting Kentucky’s storied music legacy and to supporting Kentucky artists, venues, festivals and music businesses”. According to the press release , the arts industry in Kentucky generates $6.9 billion in economic activity and accounts for 51,000 jobs. 
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