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Greetings!
 
Here is today's summary of economic development news, presented by the Economic Development Partnership of Alabama. 
 
in this issue:
ama economic development plans revealed - Birmingham News
Metals USA to build $10 million, 30-job plant in Thomasville after signing deal with Lakeside - Press Register
New Alabama immigration law raises concerns with employers, lawyers
Thomasville courting third metals company
Jefferson County industrial authority seeks new leader in uncertain times
Alabama gets a 'B' for manufacturing...
Area Development Recognizes States and Metro Areas for Economic Development Achievements
Alabama ranks 29th for GDP growth

      

Alabama economic development plans revealed

 

BIRMINGHAM, Alabama -- Details of a new sweeping realignment of Alabama industry-hunting efforts have emerged days after an invitation-only meeting in Montgomery saw local economic developers voice concerns over their level of involvement in shaping the new strategy.

 

The Alabama Development Office and the Economic Development Partnership of Alabamaare advancing a new approach to economic development with the first step being to define the roles of all of the players through formalized, written understandings.

 

Those agreements will help create a new entity, the Alabama Economic Development Alliance, meant to establish a new level of statewide collaboration "to ensure the recruitment, retention and renewal of business and industry in Alabama," according to a document prepared by ADO for the meeting and obtained by The Birmingham News.

 

 

more...

Birmingham News

 

    

Metals USA to build $10 million, 30-job plant in Thomasville after signing deal with Lakeside

 

Metals USA will invest $10 million to build a 30-job steel service center in Thomasville, after signing a deal to cut metal for pipemaker Lakeside Steel.


 

Officials plan a ceremony at the Thomasville Civic Center at 4 p.m. today.


 

Lakeside Steel and Metals USA saidTuesday that they had signed a four-year contract for Metals USA to slit and warehouse steel for Lakeside's Thomasville unit.


 

Lakeside, a Canadian firm, is spending $57.5 million on plants to make and process steel pipe in the Clarke County town. It plans to start its pipe mill on the south end of town in December, with its pipe finishing plant north of town to open next spring.

 

 

 

 

 

more...

 

 

Press Register 

 

 

 

    

New Alabama immigration law raises concerns with employers, lawyers
 

BIRMINGHAM, Alabama -- Employers and workplace lawyers are sizing up the effects of Alabama's tough new immigration law, and one question is its impact on who gets jobs.


 

Jeremy Thornton, an associate professor of economics at Samford University's Brock School of Business, said from an economist's perspective, it is probably a fallacy for people to believe cracking down on immigrants will create that many jobs for Alabamians.


 

In reality, he said, immigrants tend to take low-paid manual labor or hard-working construction jobs that many no longer desire.

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 more...

Birmingham News 

 

 

 

 

    

Thomasville courting third metals company

 

Thomasville officials are recruiting a third metals-related firm to the Clarke County town.

The city's Industrial Development Board last week requested $10 million in tax-free bonds from the state for a location of Metals USA, which processes and distributes steel and other metals.

A state Finance Department document shows that the state has approved the allotment of $10 million in Gulf Opportunity Zone bonds for Metals USA. GO Zone bonds, created by Congress after 2005's hurricanes, allow companies to sell tax-free bonds, borrowing money at lower interest rates than they otherwise could. Companies must borrow on their own credit. 

 

more...

 

 

Press Register 

 

 

 

 
 

    

Jefferson County industrial authority seeks new leader in uncertain times


 


 

The executive director of the Jefferson County Economic and Industrial Development Authority is resigning, forcing the organization to find a new full-time leader amidst the county's own uncertain economic future.


 

Carma Jude submitted her resignation to the authority's board at a special meeting Monday afternoon. Her husband has taken a position in Mississippi and her family is moving there in early July.


 

"I love my job. I love what I do," Jude said in an interview after the meeting. "I was not looking to leave."


 

Jude's departure announcement Monday coincided with a shift in the board's leadership. Deborah Byrd Walker replaced Tim Thornton as the board's chairman. Thornton has moved away from Birmingham to take a position with another company and submitted his resignation to County Commissioner Jimmie Stephens, who will now appoint a replacement.

 

 

 

more...

 

Birmingham News 

 

 

 

 

  

Alabama gets a 'B' for manufacturing

 


 

Alabama received a "B" in a new report from Ball State University that grades states on several factors that relate to success in manufacturing and logistics.


 

According to the 2011 Manufacturing and Logistics Report Card prepared by Ball State's Center for Business and Economic Research, Alabama received its highest marks for manufacturing, benefit costs, global reach, tax climate and diversification.

 

 

more...

 

Birmingham Business Journal 

 

  

Area Development Recognizes States and Metro Areas for Economic Development Achievements in Two Recently Released Reports

 

WESTBURY, NY--(Marketwire - Jun 16, 2011) - Area Development, the leading publication covering site selection and facility planning for business (http://www.areadevelopment.com), has announced the winners of the 2011 Gold & Silver Shovel Awards, recognizing states for achievements in attracting investment that creates a significant number of high-value-added new jobs regionally. Additionally, we have recently published a report, "100 Leading Locations", that ranks metro areas based on their performance across 13 highly regarded industry reports and studies.


 

Gold Shovel Awards (http://www.areadevelopment.com/awards)

This year, three states -- Indiana, Michigan, and South Carolina -- were awarded Gold Shovels in recognition of projects undertaken in 2010 creating a significant number of high-value-added new jobs as well as investment. Silver Shovels were awarded to nine other states in three population categories.


 

Our Annual Shovel Awards recognize state economic development agencies that drive significant job creation through innovative policies, infrastructure improvements, processes and promotions that attract new employers as well as investments in expanded facilities. The Gold Shovels are presented annually to the states that have achieved the most success in terms of new job creation and economic impact.


 

For the Silver Shovel Awards, the states were compared only to other states in their population tier. This year, Texas, North Carolina, and Georgia received Silver Shovels in the 9+ million population group; Alabama, Kentucky, Louisiana, and Tennessee were awarded Silver Shovels in the 4 to 9 million population category; and Kansas and Mississippi were honored in the fewer than 4 million population group.

 

 

more...

 

 

via MarketWire 

 

  

Alabama ranks 29th for GDP growth

 

Alabama ranked 29 out of 50 states in growth of gross state product, or GSP, according to the latest On Numbers study of data from the U.S. Bureau of Labor Statistics.

The study looks at GSP from 2009 to 2010, adjusted for inflation. Alabama's GSP increased 2 percent over the year, from $151 billion to $154 billion.

Among Alabama's neighbors, Tennessee ranked No. 7 (3.52 percent growth), Florida ranked No. 40 (1.4 percent growth) and Mississippi ranked No. 45 (1.14 percent growth).

Only two states in the nation did not experience economic growth: Nevada and Wyoming.

North Dakota and New York recorded the highest growth. 

 

more...

 

 

 

 

Birmingham Business Journal 

 

 

 

 




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Wendy Wallace Johnson
 
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