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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



in this issue:
Tax increment finance bill would give Huntsville 'another tool' to attract large manufacturer
Medical college to spur widespread growth
Workers leave as incinerator closes



Tax increment finance bill would give Huntsville 'another tool' to attract large manufacturer
Published: Thursday, April 12, 2012, 6:40 AM

HUNTSVILLE, Alabama -- The City of Huntsville's quest to lure a major employer to a proposed TVA Megasite off Greenbrier Road may get a boost from Montgomery.

A state Senate budget panel unanimously approved a bill Wednesday that broadens current tax increment finance, or TIF, laws to include large industrial sites capable of attracting more than $100 million in private investment.

The bill would allow Huntsville to borrow money up front to buy land, improve roads, add water and sewer lines, and even construct manufacturing facilities at the 1,500-acre Sewell farm -- then use the anticipated increase in property tax collections to repay the loan.

"It just gives us another tool to attract industry," Huntsville Economic Development Director Michelle Jordan said Wednesday. "The hope for us is that we're now a little more competitive with our neighbors to the north, south, east and west."

Under the bill, any Alabama city could create a "Major 21st Century Manufacturing" TIF zone for automotive, aviation, medical, pharmaceutical, semiconductor, computer, electronics, energy conservation, cyber technology or biomedical companies willing to invest a minimum of $100 million on a site larger than 500 acres.


Huntsville Times



Medical college to spur widespread growth

By: Editor | Dothan Eagle
Published: April 11, 2012 Updated: April 11, 2012 - 10:49 AM

The Alabama College of Osteopathic Medicine will be a shot of adrenalin for the local economy.

According to a report by Tripp Umbach, a leading consulting firm that has provided economic impact studies for endeavors similar to the medical college, the ACOM will have a big impact on the local economy, creating 67 jobs in Houston County next year and about 400 by 2030. The ACOM will have an immediate statewide economic impact of $34.5 million in 2013 and an impact of $116 million by 2030.

College officials and Southeast Alabama Medical Center staff announced the results of an economic impact study Wednesday in a press conference.

"The exciting thing about this is that we're talking about real stuff that is going to happen," said Matt Parker, Dothan Area Chamber of Commerce executive director.

The school is currently under construction and is expected to open its doors to an initial class of 150 students in August 2013. It is the first medical college in the country to be developed by a regional non-profit hospital.



Dothan Eagle


Workers leave as incinerator closes
by Patrick McCreless
Anniston Star
Apr 12, 2012
Anniston chemical weapons incinerator workers are finding new jobs as the facility continues closing efforts, but not all the workers are staying in the area.

Hundreds of workers at the incinerator and the Anniston Army Depot proper are being laid off, or their positions ended through attrition, as the incinerator shuts down. And some economists say that while many will find new jobs, it is unlikely most will still be working in the area or even the state - a shift that will likely hurt the local economy.

The U.S. Army announced Wednesday that it had laid off one of 83 workers at the Anniston Chemical Activity or ANCA, which was responsible for the safe storage of chemical munitions at the depot. The facility destroyed the last of its chemical weapons stockpile last year. ANCA is currently ensuring the storage igloos for the weapons are clean enough for possible use in the future.

Army spokesman Mike Abrams said though one employee was laid off, several more have already been assigned other jobs or been lost to attrition. The ANCA at its peak once had more than 170 employees and maintained 661,529 chemical agent-filled munitions.

In addition to the ANCA workers, about 800 employees work for Army contractor Westinghouse at the incinerator.


Anniston Star

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