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Here is today's summary of economic development news, presented by the Economic Development Partnership of Alabama.
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Hyundai's Alabama factory hits production record
Published: Monday, July 12, 2010, 12:14 PM Updated: Monday, July 12, 2010, 12:21 PM
Dawn Kent -- The Birmingham News
Hyundai's Montgomery plant set a new production total last month, as sales of the Sonata sedan and Santa Fe SUV, shown here on the assembly line, continue to rise. Hyundai's Alabama auto factory set a record for monthly output in June, as workers built 31,500 Sonata sedans and Santa Fe SUVs.
The facility has been on overdrive all year as it tries to keep pace with strong demand for the redesigned 2011 Sonata. Santa Fe sales also are on the rise. Read a story on Sonata sales.
Last month, the plant produced 19,681 Sonatas, along with 11,819 Santa Fes. The total -- 31,500 -- is a 12.5 percent increase from May's output. It also surpasses the last monthly production record of 28,350 vehicles, set in March.
Employees have been working overtime to meet demand for the vehicles built in Montgomery, which are sold across the United States and also exported to Canada, Guam and Puerto Rico.
more...
Birmingham News link
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Gov. Bob Riley aims to land handful of major industrial projects
Published: Monday, July 12, 2010, 11:32 AM Updated: Monday, July 12, 2010, 11:55 AM
Michael Tomberlin -- The Birmingham News
- Gov. Bob Riley told economic developers at a conference today that he hopes to land four or five projects that are close to announcing new manufacturing, aviation, distribution and locomotive facilities -- capping off his administration's history of industry-hunting success.
Some of the projects could land in the Birmingham area, he added.
Riley also used his appearance at the summer meeting of the Economic Development Association of Alabama meeting to make a bold prediction.
"We are going to win the Air Force tanker project and I hope we do it before I get out of here," Riley told the crowd, to great applause.
Riley was leaving the conference to go to Mobile for a meeting regarding the project. European defense contractor EADS, which is competing against Boeing for the $35 billion contract, has promised to build a 1,600-worker plant in Mobile to assemble the plane.
"We've shown the American public that this is a superior plane at a superior price," Riley said. "That should be the basis for the decision."
The Pentagon awarded the contract to EADS and partner Northrop Grumman in 2008, but the decision was overturned on appeal and the contest reopened for bidding.
Riley called on economic developers to help the next governor and Legislature continue with the initiatives and the policies that promote economic development.
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UA center raises growth estimate for Alabama economy
Published: Monday, July 12, 2010, 9:16 AM Updated: Monday, July 12, 2010, 9:30 AM
Jerry Underwood -- The Birmingham News
Economists at the University of Alabama have boosted their growth forecast for the state's economy.
The University of Alabama's Center for Business and Economic Research said this morning it expects Alabama's gross state product to expand by 2.5 percent this year, up from an earlier estimate of 2.2 percent. It also expects job gains, with the state's employment base to expand by 0.7 percent.
The center's economists say Alabama's economy still faces challenging circumstances.
"While the state's economy is now rebounding, the course of recovery will not be smooth. Economic development prospects are picking up, projects are coming online, and BRAC-related growth is ongoing," they write. "However, challenges to state revenues and the impacts of the Gulf oil spill will present challenges in the coming months."
Huntsville is benefiting from jobs attracted by the government's Base Realignment and Closure program.
more...
Birmingham News link
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Baron Services opens manufacturing facility for radar upgrade work
Published: Monday, July 12, 2010, 7:49 AM Updated: Monday, July 12, 2010, 7:58 AM
Marian Accardi, The Huntsville Times
HUNTSVILLE, AL -- Baron Services, a Huntsville-based company that specializes in weather detection and forecasting technologies, has opened a manufacturing facility in Madison for its National Weather Service NEXRAD upgrade work.
Through its partnership with L-3 STRATIS, Baron Services was part of a team winning a five-year contract in late 2007 to upgrade 171 National Weather Service, Federal Aviation Administration and Department of Defense NEXRAD (Next Generation Radars.) The radars will be converted to what is called dual-polarization Doppler capability, which enables meteorologists to receive twice as much data as conventional systems.
The technology improves hail detection, rainfall estimates and rain/snow discrimination.
"This continues to be a really exciting endeavor for us," said Bob Baron, president and CEO of Baron Services.
more...
Huntsville Times link
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Montgomery has much to offer in bid to land manufacturer
By Cosby Woodruff · July 11, 2010
Caterpillar does not expect to select a site for a new manufacturing plant until sometime next month, but a look at the three finalists shows that each of them has plenty to offer the company.
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SurModics signs license agreement for UV treatment technology
Birmingham Business Journal - by Ben Piper Staff SurModics Pharmaceuticals, a Birmingham subsidiary of SurModics Inc., has agreed to license a biodegradable polymer implant technology being developed to treat sun-induced skin disorders to an Australian pharmaceutical firm. SurModics licensed the SCENESSE implant formula to Australian-based Clinuvel Pharmaceuticals. The two companies have collaborated on developing the formula that is a prophylactic treatment for a range of UV and light-related skin disorders for several years. "We are very pleased to announce the execution of this important license agreement with Clinuvel," said Phil Ankeny, interim CEO of SurModics. "This announcement demonstrates the value of our sustained drug delivery technologies and reinforces how we partner with our customers to develop and bring to market compelling products that leverage our core technologies." more... Birmingham Business Journal link |
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