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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:
Alabama awards $4 million for 15 higher education R&D projects
Huffington Post business editor talks Alabama innovation
Alabama added 11K jobs over past year
BayFest packs $38 million punch for city of Mobile's economy


 

 

Alabama awards $4 million for 15 higher education R&D projects

Published: Wednesday, October 03, 2012
ByMartin Swant | mswant@al.com

BIRMINGHAM, Alabama -- Fifteen research, innovation and job creation projects at Alabama universities won a collective $4 million in funding from Gov. Robert Bentley'sAlabama Innovation Fund.

The projects -- announced this morning by at the Economic Development Parternship of Alabama's second annual Innovation and Development Conference at the Wynfrey Hotel in Hoover -- is the first round of state-funded grants to support research and economic development.

The projects winning money from the state's Education Trust Fund's budget were chosen based on the likelihood of successful commercialization, further research and job creation.

The governororiginally asked for $10 million for the program, which was reduced in the budget to just $4 million. During a speech at the EDPA conference, Bentley said he doesn't expect additional money next year but will push for further funding in 2014.

more...

[al.com]




 

 

 

 

 

Huffington Post business editor talks Alabama innovation

Published: Wednesday, October 03, 2012 
ByMartin Swant | mswant@al.com

BIRMINGHAM, Alabama -- Alabama should first build innovative industries based on the state's core strengths even before "chasing the flavor of the moment,"The Huffington Post's executive business editor told Alabama entrepreneurs today.

Peter Goodman -- a business journalist, author and editor -- said innovation should embrace a global mindset of innovation with ideas, commercialization, job creation, exports and education. Goodman spoke at the
Economic Development Partnership of Alabama's Alabama Launchpad Innovation and Entrepreneurship Conference.

"It is the antidote to the downsides of globalization and automation," he said
.
Americans too often see globalization as synonymous with Americanization, he said. They can be wrongly defensive when international companies and foreign brands move into the U.S. Rather than seeing this as an intrusion, the U.S. should welcome them as investors in job creation and capital that will benefit the nation's workers.

 



more ...

[al.com] 


 

Alabama added 11K jobs over past year

Birmingham Business Journal
Wednesday, October 3, 2012

Alabama ranks 37th for employment growth over the past 12 months, according to a new report from On Numbers.

 

Based on data from the Bureau of Labor Statistics, the state added 11,300 jobs between August 2011 and August 2012, bringing total nonfarm employment in the state to 1,876,100.

 

Despite the 0.6 percent growth, Alabama's total nonfarm employment remains well below its pre-recession total, as we noted earlier today.  

 


more...

 

[Business Journal

 

 

 


 


BayFest packs $38 million punch for city of Mobile's economy

Published: Wednesday, October 03, 2012
By Kelli Dugan | kdugan@al.com

MOBILE, Alabama - BayFest generated more than $38 million in total economic impact for the city of Mobile in 2011, and created the equivalent of 140 full-time jobs, according to the most recent financial study available.

 

And with barely 48 hours until the 18th annual music festival overtakes downtown Mobile's entertainment district, organizers are confident its reputation and strong lineup will provide yet another economic boost for the city it celebrates.

 

Stacy Hamilton, spokesperson for the Mobile Bay Convention and Visitors Bureau, said BayFest traditionally attracts a diverse crowd of locals and tourists alike.

 

"It's a three-day event that generates a significant amount of the city's tourism revenue, similar to Mardi Gras and the Senior Bowl. We hope it's as successful this year as it has been in the past," Hamilton said.

 

 

more...
[al.com]





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