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.
ThyssenKrupp Materials will build $13 million facility in Woodstock, Alabama
Published: Tuesday, September 25, 2012
By Jerry Underwood -- The Birmingham News
BIRMINGHAM, Alabama --ThyssenKrupp Materials North America Inc. said Tuesday that it will invest $13 million to build a materials processing and distribution center in Woodstock, Ala.
Construction of the new facility, which initially will employ 20 people and as many as 45 within five years, is scheduled to begin this month. Hiring for positions that include machine operations, material handling, logistics and sales is scheduled to begin early next year.
"This project is extremely important for the Birmingham region and Alabama. ThyssenKrupp Materials is an internationally recognized company and is especially recognizable here in Alabama," said Brian Hilson, CEO of the Birmingham Business Alliance. "It's also significant because of the jobs and capital investment and because this development is in Bibb County. This can generate more attention for Bibb County as a future business location for other companies."
Southfield, Mich.-based ThyssenKrupp Materials North America processes and distributes a full line of aluminum, stainless, copper, brass, specialty metals, steel and plastics products that are used in the production of automobiles, commercial food equipment, HVAC equipment and more. The Alabama center will be operated by the company's Coil Processing Group.
Toyota breaks ground for V6 engine expansion at Huntsville plant
Published: Tuesday, September 25, 2012
By Marian Accardi, The Huntsville Times
HUNTSVILLE, Alabama -- Construction starts in a few weeks for a 300,000-square-foot expansion at the Huntsville Toyota engine plant so more V6 engines can be built there, and production is expected to begin in March 2014.
With the expansion at the facility's southeast corner, the plant will produce 3.5-litre V6 engines for Highlander SUVs assembled at a Princeton, Ind., plant. Engines built in Huntsville will go into nine of the 12 vehicles that Toyota builds in North America.
The latest expansion "means 125 new jobs" and will push employment there by almost 10 percent to 1,150, said Mark Brazeal, the plant's general manager of administration, at a ground-breaking ceremony today.
The project brings Toyota's total investment in the facility at North Huntsville Industrial Park to more than $700 million, he said, and employees will be building 216,000 more V6 engines each year. Total V6 annual capacity will then reach 362,000.
Strange's highest priority as AG is economic development
By Will Heath
Sep 26, 2012
PELL CITY - Since taking the job as Attorney General for the state of Alabama, Luther Strange's office has dealt with the BP oil spill, gambling operations around the state, the state's new illegal immigration policy and a challenge to the new federal health care law.
And Strange has only been on the job since January 2011.
"I don't know of one person that's faced more in his first term," District Attorney Richard Minor said Tuesday. "At least in my lifetime, and maybe in the history of the office.
"I think, as Attorney General, I don't think we could have anybody better - a man of character and integrity."
Strange spoke Tuesday to the St. Clair County Mayor's Association at the offices of the county Economic Development Council. He said that his highest priority as AG is economic development.
Launchpad participant receives angel funding
by Evan Belanger, Reporter
Date: Friday, September 21, 2012
A Birmingham-based startup company has commercially launched a new medical technology with funds from a joint investment by the Central Alabama Angel Network and a local venture capital fund, Power Ten Medical Ventures.
The investment in VIPAAR, founded in 2010 and housed at Birmingham's Innovation Depot, marks CAAN's first venture in a Birmingham-based company since the local network's formation in February.
VIPAAR would not disclose specific details of the deal for competitive reasons, but CEO Drew Deaton said the infusion of capital would fund the company's initial sales and marketing efforts and further the engineering of products customers are seeking.
[Birmingham Business Journal]
TWO DAYS LEFT TO REGISTER!
Place: Wynfrey Hotel, Birmingham, Ala.
$250.00 - Full Conference for October 2 & 3:
$75.00 - Oct. 2 Dinner Event Only
$175.00 - Oct. 3 Full Conference Day Only
Please feel free to forward along to someone who can use it by clicking on the "I'd like to forward this to a contact" link below the green bar. Note also, that you can now make changes to your e-mail address and contact information through the link at the bottom.
If you have news or suggestions, please forward them along to me.
Enjoy the day,