Here is today's summary of economic development news, a free service of the Economic Development Partnership of Alabama, representing Alabama's private sector investment in economic development. If you enjoy NewsFlash, thank an EDPA Partner.
Kia completes expansion of west Georgia plant
Published: Friday, January 06, 2012, 10:16 AM Updated: Friday, January 06, 2012, 10:19 AM
WEST POINT, Georgia - Executives with Kia Motors Manufacturing Georgia Inc. say a $100 million expansion to the company's West Point plant has been completed.
Company officials say the expansion, which included the addition of employees, increased the plant's capacity to a total of 360,000 vehicles per year.
The LaGrange Daily News reports the expansion includes a 5,400-ton transfer press, additional robots in the welding shop and enlargements to the paint shop, production line and railroad spur.
The move was in preparation for production of the Kia Optima, which rolled off the assembly lines in September. The plant started hiring in April and brought its total workforce to more than 3,000.
SBA Deadline for Economic Injury Disaster Loans in Alabama is January 30
"Businesses that suffered economic losses as a result of the disaster and want to apply for low-interest loans from the SBA are urged to do so before the Jan. 30 deadline," said Frank Skaggs, director of SBA Field Operations Center East.
Economic Injury Disaster Loans (EIDLs) up to $2 million are available at 4 percent for small businesses and 3 percent for private nonprofit organizations of all sizes, with terms up to 30 years. The loans are intended to pay fixed debts, payroll, accounts payable, and other expenses that could have been paid had the disaster not occurred. To be considered for this assistance, disaster victims need to apply by the deadline.
These EIDLs are available to businesses and nonprofits in the counties of Autauga, Baldwin, Bibb, Blount, Butler, Calhoun, Chambers, Cherokee, Chilton, Choctaw, Clarke, Clay, Cleburne, Colbert, Conecuh, Coosa, Covington, Cullman, Dallas, DeKalb, Elmore, Escambia, Etowah, Fayette, Franklin, Greene, Hale, Jackson, Jefferson, Lamar, Lauderdale, Lawrence, Lee, Limestone, Lowndes, Macon, Madison, Marengo, Marion, Marshall, Mobile, Monroe, Montgomery, Morgan, Perry, Pickens, Randolph, Saint Clair, Shelby, Sumter, Talladega, Tallapoosa, Tuscaloosa, Walker, Washington, Wilcox and Winston in Alabama.
To obtain disaster loan information and application forms, call the SBA's Customer Service Center at 800-659-2955 or send an email to firstname.lastname@example.org. Loan application forms can also be downloaded from www.sba.gov.
Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
Those affected by the disaster may also apply for disaster loans electronically from the SBA's website at https://disasterloan.sba.gov/ela/
The deadline for economic injury applications is January 30, 2012.
Lakeside Steel receives buyout offer
Published: Friday, January 06, 2012, 10:52 AM Updated: Friday, January 06, 2012, 10:59 AM
The Welland, Ontario-based company is investing about $57.5 million into two facilities near Thomasville that will employ about 280 people.
When fully developed, its Thomasville operations will give it the ability to make, heat-treat and finish the ends of piping sold largely to the oil and gas industry.
According to the Naiagara Falls Review, Lakeside Chief Executive Officer Ron Bedard would not name the prospective purchaser, but said the offer "is being seriously considered."
India opens consulate in Atlanta for Southeast Published: Friday, January 06, 2012, 6:41 AM ATLANTA - The government of India has opened a new consulate to serve the Southeast.
Georgia Gov. Nathan Deal and Consul General of India in Atlanta Ajit Kumar on Thursday announced the consulate's opening.
In addition to Georgia, the office will serve the states of Alabama, Florida, Mississippi, South Carolina and Tennessee, as well as the U.S. Virgin Islands and the U.S. commonwealth of Puerto Rico.
Kumar previously served as the Indian consul general in Frankfurt, Germany, and Durban, South Africa, and as Ambassador of India to the Republic of Zimbabwe. In Atlanta, he will lead a team of 20 full-time employees.
The consulate will serve the approximately 100,000 Indian nationals living in Georgia and roughly 290,000 across the Southeast with services such as visas, passports and other documents.
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Wendy Wallace Johnson