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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:
Alabama's economy a top 5 performer to close out 2012
Two-year college chancellor wants to make college courses free for high school students
Mobile Chamber's 176th annual meeting highlights job growth, fast-paced recruitment

 


 

Alabama's economy a top 5 performer to close out 2012, report says

By Alex Walsh | awalsh@al.com 
January 22, 2013 at 10:35 AM

 

Alabama's economy saw some of the most dramatic improvements of any state over the last three months of 2012, one study shows.

 

From September to December, Alabama saw a 1.23 percent increase in its coincident index -- a statistic designed and tracked by the Federal Reserve Bank of Philadelphia. The coincident index combines four factors -- total jobs, unemployment, total wages, and hours worked in manufacturing -- to come up with one number to assess the health of each state's economy.

 

Over the last three months of 2012, only four other states -- Utah, South Carolina, Idaho, and Nevada -- saw stronger growth than Alabama.

 

A sharp decrease in Alabama's unemployment rate at the end of the year likely fueled the state's improved score. After peaking at 8.5 percent in August, Alabama's unemployment rate dropped dramatically over the last four months of the year, falling to 7.1 percent in December.

 

more...

 

[al.com]

 


 

Two-year college chancellor wants to make college courses free for high school students

By Evan Belanger | ebelanger@al.com 
January 22, 2013 at 2:17 PM

 

MONTGOMERY, Alabama -- Alabama's two-year college chancellor wants to make enrollment in community college courses free for high school students.

 

Speaking today at the Economic Development Association of Alabama's winter conference, Community College System Chancellor Mark Heinrich said he is working with legislators to bring a bill as early as the 2013 session that would make dual enrollment in community college courses free to high school students.

 

"What I'm suggesting at this point is that state of Alabama work out some sort of situation that would allow any high school student who is interested in dual enrollment to participate in that," he said.

 

Heinrich said after the meeting dual enrollment gives high school students a head start on college and technical school or better prepares them for immediate entry into the workforce. Making it free, he said, would increase participation.

 

"The suggestion from some of the folks at the high schools is that we would go from about 10 percent participation to maybe 40 or 50 percent in dual enrollment," he said.

 

more...

 

[al.com] 

 


 

Mobile Chamber's 176th annual meeting highlights job growth, fast-paced recruitment

By Kelli Dugan | kdugan@al.com 
January 22, 2013 at 8:22 PM

 

MOBILE, Alabama - With 2012 fading in the rearview mirror, the Mobile Area Chamber of Commerce's leadership took time Tuesday to reflect on its successes before turning its sights to even more ambitious goals for the year ahead.

Laughter and chatter echoed through the Mobile Civic Center for one solid hour before the chamber's 176th annual meeting took center stage, leaving no room for speculation about the tenacity of and results obtained by what has affectionately become known as Team Mobile.

 

"I'm confident the gains made over the last year are setting us up for an even better 2013," said Michael Pierce, the chamber's outgoing chairman whose praises colleagues sang before presenting him with a plaque commemorating his service.

 

Meanwhile, Win Hallett, the chamber's president, laid out several of the benchmarks achieved and exceeded by the organization's Partners for Growth campaign for which the second five-year cycle concluded in 2012. The program brings together 175 public and private entities united by the shared goal of seeing Mobile's economy grow & strengthen, he said.

 

Specifically, economic development goals for the five-year period ending at the close of 2012 was to create 3,750 new jobs with an average annual salary of $38,000, representing total capital investments of $1 billion.

Two of those three goals were more than doubled, Hallett said, with the program generating 8,000 jobs with an average annual salary of $48,000, representing $2.2 billion in capital investments. In 2012, alone, the program created 2,116 jobs, representing capital investment of $753 million, he said.

 

more...

 

[al.com]




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