Rapaport, October 13, 2010: Diamond District Creates Manufacturing Jobs

RAPAPORT… The New York diamond industry’s premier building, 580 Fifth Avenue, constructed space for a new polishing facility, which is now operating under the direction of Diamex Inc. The effort to build and open this new cutting and polishing facility in Manhattan was part of an ongoing plan, by which the partners of 580 Fifth Avenue work to reinvigorate diamond manufacturing in New York City’s historic Diamond District. “Diamond and jewelry manufacturing in the US has almost completely been transplanted to countries where it’s become more cost effective to do business,” said Kenneth Kahn, executive manager for 580. He explains the building’s commitment to the industry in this week’s Rapaport Diamond News Broadcast. The new cutting and polishing shop resides on the ninth floor and occupies an approximately 2500-square-feet. It already houses 18 master cutter artisans. “Arthur Margolin and Kenneth Kahn have been instrumental in setting up the new factory, so we can restore life to a business in these most challenging economic times,” said Ronnie VanderLinden, president of Diamex. “In this country, there’s been too much emphasis on the benefits of outsourcing to the detriment of an entire industry. It’s time to insource. The professionals in our business need to stick together and 580 Fifth Avenue is allowing us to take a big step in that direction.” 580 Fifth Avenue is owned and managed by descendants of the original owners. The building is completing a million …
Video Rating: 5 / 5

The upgrading construction launched at Jimma Airport at a cost of over 298 million birr is well in progress, the Ethiopian Airports Enterprise (EAE) said. EAE General Manager Shiferaw Alemu told ENA that the construction of 3.4 concrete runway that accommodate Boeing 737 aircrafts. The government has allocated over 195 million birr for the construction of the runway, he said. The manager said EAE has allocated over 103 million birr to construct passengers terminal. The airport will accommodate four being 737 aircrafts at a time and have taxiway, he said. He said the terminal, which consists of waiting room, bank, restaurant, offices and other facilities, will accommodate 220 passengers at a time. Up going fully operational at the end of 2003 EC, the airport will be upgraded to international airport, he said. Some of the residents near the airport said the upgrading construction have created jobs for the youths. He said the airport will enhance further the ever increasing product and productivity as well as tourist flow in the locality, according to EAE public relations office.