From February to May, businesses hired about 4.5 million new workers who had been unemployed for eight weeks or longer, enticed by billions in tax credits, according to a report released this morning by the U.S. Treasury Department.

Those employers are eligible for tax exemptions and credits worth up to $8.5 billion under the Hiring Incentives to Restore Employment Act, which President Obama signed in March.

Treasury chief economist Alan B. Krueger released the report today in Sanford, where he visited a yarn factory that Parkdale Mills recently reopened. The company has hired about 30 workers at the plant so far and expects to add more.

"This new tax credit provided a powerful incentive to grow our business and was a major factor in our decision to re-open the plant in Sanford," said Parkdale CEO Andy Warlick, in a prepared statement.

Now that Silicon Valley businesses have started aggressively hiring again, companies in "second-tier" high-tech locations such as Raleigh are facing tougher competition for talent, the Wall Street Journal reports.

As a main example, the newspaper points to Red Hat.

The Raleigh-based software company is responding by retraining its hiring managers to portray Red Hat as a more entrepreneurial place to build a career than rivals in California.

That's partly because the company can't compete on pay and benefits, said DeLisa Alexander, left, Red Hat's senior vice president of people and brand. The hiring managers are trained to discuss their career histories, the variety of projects they work on and the autonomy Red Hat provides.

Best Buy may be a good bet for people looking for a holiday job this year.

In New York today, CEO Brian Dunn said the electronics retailer will hire more workers this year to meet demand for Internet-connected flat-screen TVs and mobile phones. 

Like most retailers, the fourth quarter is the strongest for Best Buy. Some retailers make as much as 40 or 50 percent of their annual sales in the final months of the year.

Best Buy is one of many retailers already starting its holiday hiring efforts. If you are looking for seasonal employment, now is the time to apply. Read our story from Saturday about holiday hiring this year.