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Greetings!

 

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:
Next-generation NASA rocket booster to be developed at Marshall Space Flight Center
Hyundai aims to produce nearly 37,000 vehicles in Alabama this month, a new plant record
ATK gets $50M contract to help NASA develop Space Launch System (updated)
EADS-BAE Systems merger collapse not expected to impact existing local operations
Lunch & Learn: Alabama New Market Tax Credits


 

 

Next-generation NASA rocket booster to be developed at Marshall Space Flight Center

Published: Tuesday, October 09, 2012
By Martin Swant | mswant@al.com
 
HUNTSVILLE, Alabama -- The core booster for NASA's next-generation rocket will be developed at the
Marshall Space Flight Center in Huntsville.
 
This morning, ATK -- which will be utilizing the center's facilities and engineers -- announced it's won a $50-million contract from NASA as part of a 30-month contract. The total contract is valued at $137.3 million

 

The purpose of NASA's efforts is to get feedback on high-risk areas in order to work on solutions or mitigation strategies before the advanced booster is designed around 2016, according to Paul Karner, program manager for the advanced booster development effort. That way the project can avoid having "money pits." Karner said ATK also plans to identify technological advances that have come about since the last booster was designed four decades ago.

 

The majority of the work will take place between June 2014 and February 2015.

 

 

more...

 

[al.com]

 

 

 

 





 



Hyundai aims to produce nearly 37,000 vehicles in Alabama this month, a new plant record

Published: Tuesday, October 10,2012
By Dawn Kent | dkent@al.com

MONTGOMERY, Alabama -- Hyundai's Montgomery auto plant is expected to produce nearly 37,000 vehicles this month - yet another production record for the facility - as the company tries to keep pace with the popularity of its cars.

The last record-setting month was August, when the plant turned out 35,254 vehicles, a new high for the Korean automaker's Alabama operations.
 
There were 24 production days that month, which contributed to the high total. There also was ongoing training of new employees for the third shift that started Sept. 4, with many hands on the assembly lines.

 

Despite the startup of the third shift, September's production total dipped from August, to 30,951 vehicles.



more...


 




 ATK gets $50M contract to help NASA develop Space Launch System (updated)

Published: Tuesday, October 09, 2012
By Lee Roop | lroop@al.com

ARLINGTON, Va. -- ATK said today that NASA has awarded the company a $50 million contract to help develop future generations of its heavy-lift rocket called the Space Launch System. The core booster for the rocket is being developed at Huntsville's Marshall Space Flight Center.

The first of the rockets in the system will use solid-fuel boosters strapped on the side of the central core, but future generations could use different methods to generate more power. The rocket will eventually scale up from 70-metric-ton lifting capability to 130-metric-ton. The bigger version will have enough power and fuel for deep-space destinations such as Mars.
 
ATK says it will focus on technological challenges to the bigger boosters, including "development of a lithium-ion battery-powered electric thrust vector control system; high-performance propellant; lightweight composite rocket motor case; and an advanced nozzle." At the end of the contract, ATK will test fire an integrated booster containing the technologies it develops.


more...




 



 

EADS-BAE Systems merger collapse not expected to impact existing local operations

Published: Wednesday, October 10, 2012
By Kelli Dugan | kdugan@al.com

MOBILE, Alabama - A proposed $45 billion merger between British defense contractor BAE Systems PLC and the European Aeronautic Defence and Space Co. collapsed Wednesday under the weight of conflicting governmental interests, the Associated Press reported.

 

"It has become clear that the interests of the parties' government stakeholders cannot be adequately reconciled with each other or with the objectives that BAE Systems and EADS established for the merger," the companies said in a joint statement.

 

Had it proceeded, the merger would have created a global aerospace and arms juggernaut analysts anticipate would have easily eclipsed U.S. rival Boeing Co. The combined company would have employed about 220,000 worldwide, including 45,000 in the United States.

 

"It is, of course, a pity we didn't succeed but I'm glad we tried," EADS chief executive Tom Enders told the AP. 


more...


 



 

Understanding Alabama NMTC law
Lunch & Learn: Alabama New Market Tax Credits
How Can They Benefit Your Project?

11:30 a.m. to 12:00 p.m. - Lunch & Registration
12 p.m. to 1 p.m. -Presentation

Oct 30, 2012
Bradley Arant Boult Cummings LLP
One Federal Place
1819 Fifth Avenue North
Birmingham, Al 35203


  Featured Speakers

Linda Swann- Assistant Secretary, Alabama Department of Commerce
Ed Briscoe - Managing Director, Weave Social Finance, LLC
Beau Byrd - Partner, Bradly Arant Boult Cummings LLP

During this seminar, attendees will learn how Alabama New Market Tax Credits (NMTC) can make your project a reality and supplement your incentives

  • What makes a good NMTC deal?
  • Is Alabama NMTC right for your project?

RSVP to reserve your seat. Seating is limited, so RSVP by Tuesday, October 23rd.

If you have any questions, contact Joslyn Smith at jsmith@babc.com or 205.521.8631.  

 





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Enjoy the day, 

Val Walton
   
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