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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:
Seven start-ups advance in Alabama Launchpad competition (video)
Department of Defense announced $682 million Austal USA awards
Macon County receives CSX Select Site
Schmitz: Talks continue to lure potential industry
Magazine honors Decatur for business recruitment
Hall to shareholders: 'Regions has a clear path forward'
New local angel network invested $428K in first year
Raytheon invests in next generation of scientists and engineers with donation to Free 2 Teach
Gov. Robert Bentley and First Lady Dianne Bentley to attend the AlabamaGermany Partnership's Annual Dinner

 


 

 

Seven start-ups advance in Alabama Launchpad competition (video)
By Stan Diel | sdiel@al.com 
on March 04, 2013

BIRMINGHAM, Alabama - A panel of judges today heard pitches from a dozen potential start-ups competing in theAlabama Launchpad competition and narrowed the field of contenders to seven.
 

The competition continues through May, when four or five winners are expected to split $100,000 in start-up capital.

 

 All of the seven start-ups that advanced today will get an assessment of their business model by a third-party firm, said Angela Wier, vice president at the Economic Development Partnership of Alabama.

 

"That is effectively a prize in itself," Wier said.

 

more...

 

[al.com]

 

 

 

 

 

 

 

 

 

 

 

 


 

 

 


 

 

 

 

 

 

 

 


 

 

Department of Defense announced $682 million Austal USA awards
By Leada Gore | lgore@al.com 
on March 04, 2013

Department of Defense contracts announced March 4:

Austal USA of Mobile was awarded $682 million under a previously awarded contract for construction of two Littoral Combat Ships. The majority of the work will be performed in Mobile and is expected to be complete by June 2018.

 

Also as part of that award,Lockheed Martin will receive $697 million under a previously awarded contract for the construction of two Littoral Combat Ships. The majority of that work will take place in Marinette, Wisc. Work is expected to be complete by July 2018.

 

Bath Iron Works of Bath, Maine was awarded a $12 million modification to a previously awarded contract for post-delivery support on the USS Coronado. Bath Iron Works will plan and implement design changes identified during the construction period.

 

The majority of the work will be performed in Mobile and is expected to be complete by February 2014.

 

more...

 

[al.com]


 

 

 

 

 

 

 

 

 


 

 

 


 

 

 

 

 

 

 

 


 

 

Macon County receives CSX Select Site
Drew Taylor | Opelika-Auburn News
Monday, March 4, 2013 

 

NOTASULGA-With the closing of VictoryLand, Macon County now has a new lead on new business and jobs in the area.

 

On Monday morning, Gov. Robert Bentley and local officials gathered at Beck's Turf Farm in Notasulga, located near Interstate 85, to unveil the new CSX Select Site, which has the potential of bringing in hundreds of jobs to the area.

 

The Select Site program was started in 2012 to work with economic developers in generating a list of properties with the potential for development that have direct rail service by CSX. The Macon County Select Site is only one of eight sites nationwide.


 more

 

[Opelika Auburn News]

 

 

 

 

 

 

 

 

 


 

 

 


 

 

 

 

 

 

 

 


 

 

 

Schmitz: Talks continue to lure potential industry

by Lance Griffin

Posted: Monday, March 4, 2013 

 

Dothan Mayor Mike Schmitz said he and city officials are exploring all possible avenues to satisfy the concerns of a potential employer who has shied away from a jobs announcement due to potential effects of sequestration on Dothan's air traffic control tower.

 

Schmitz said talks continue with the business, who has asked not to be identified until, or if, a public announcement is made about relocation.

 

"I do believe we will have some solution in the next couple of weeks. I hope," Schmitz said Monday.

 

Schmitz met with U.S. Sen. Richard Shelby, R-Tuscaloosa, on Monday to discuss the issue. He said he has discussed worst-case scenarios with the prospective employer to assure them that - even if sequestration does claim the Dothan control tower - the industry will still be able to operate unencumbered.

 

more...

 

[Dothan Eagle]


 

 


 

 

 

 

 

 

 

 

 

 

 

 


 

 

 


 

 

 

 

 

 

 

 


 

 

 

 

Magazine honors Decatur for business recruitment
By Eric Fleischauer
The Decatur Daily
March 4, 2013

The Decatur metropolitan area received a Top 10 metro ranking from Site Selection Magazine for the second year in a row for its ability to attract business.

 

Decatur earned the ranking in the category of "Metros of Less than 200,000 Population" in the March 2013 issue.

The Decatur area was ranked in a five-way tie for the seventh position for the number of projects announced in 2012.

 

In 2011, the magazine named Decatur No. 1 nationally among metropolitan areas of population below 200,000. Decatur was the only metropolitan area in the state to receive a ranking.

 

"Decatur, Alabama, has a long track record of proven performance when it comes to attracting corporate facility investments," said Ron Starner, executive vice president of Site Selection Magazine. "Corporate executives know that Decatur delivers on its promises when it comes to supporting industry with all of the assets needed to excel, including an exemplary work force."

 

more...

 

[Decatur Daily]



 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

 

 


 

 

 

 

 

 

 

 


 

 

Hall to shareholders: 'Regions has a clear path forward'

Antrenise Cole

Reporter-Birmingham Business Journal

March 4, 2013

 

Regions Financial Corp.'s CEO Grayson Hall said today in a letter to shareholders the bank holding company is moving forward from a better position of strength after returning to profitability in 2012.

 

"To use a sports analogy, after being forced to play defense for some time now, 2012 was the year when we began to play offense," Hall wrote.

 

Hall touted the Birmingham banking giant's milestones in 2012, which include: raising new equity capital, selling off its Morgan Keegan brokerage unit, repaying $3.5 billion in TARP obligation, receiving upgrades in its credit ratings, investing in new risk-management resources and making further improvements in its loan portfolio.

 

Regions reported $1.1 billion from continuing operations in 2012, or $0.76 per diluted share, in 2012. Hall noted that Regions progress is reflected in its stock price, which rebounded 66 percent during the year.

 

more...

 

[Birmingham Business Journal]


 

 

 

 

 

 

 

 

 

 

 

 

  

 


 

 

New local angel network invested $428K in first year
Yann Ranaivo
Reporter-Birmingham Business Journal
Mar 4, 2013

A Birmingham network that invests in startups pumped roughly $428,000 into five businesses during its first year.

Jennifer Skjellum, executive director of the Central Alabama Angel Network, told me recently that members of her group, organized about a year ago, provided the investments to five companies, including one from Birmingham.

 

 She said the other companies are from Tennessee and Atlanta.

 

Skjellum said the network, which invests in startups and early-stage companies, is looking to strike seven or eight deals this year, including one with an Orlando, Fla.-based company that is in the process of being closed

 She said the network plans to provide from $250,000 to $1.5 million in investments for the year that started last month.

 

The Birmingham startup that received an investment from the network last year is VIPAAR. The company, based at Innovation Depot, specializes in technology that allows several surgeons to get training on procedures without having to be in the same room.

 

more...

 

[Birmingham Business Journal]



 

 

 

 

 

 

 

 

 

 

 

 

 

  

 


 

 

Raytheon invests in next generation of scientists and engineers with donation to Free 2 Teach
By Leada Gore | lgore@al.com 
on March 05, 2013

It's hard to train the next generation of scientists and engineers without a calculator or a pencil. That's why Raytheon Company decided Free 2 Teach, a Huntsville-based organization that puts supplies in the hands of students, was the perfect organization to support.

 

Raytheon donated $30,000 to Free 2 Teach, a non-profit organization that supplies classroom and educational materials to teachers in Huntsville and Madison County. The organization operates a resource store stocked with free supplies with a goal of ensuring 3,500 teachers and more than 50,000 students in the 84 public schools have the resources they need.

 

"We've learned that students who could someday be our next scientists or engineers often don't have the supplies they need," Dr. Taylor Lawrence, president of Raytheon Missile Systems said when announcing the donation. "Free 2 Teach helps students get the right materials they need."

 

more...

 

[al.com]


 

 


 

 

 

 

 

 

 

 

 

 

 

 

 

  

 


 

 

Gov. Robert Bentley and First Lady Dianne Bentley to attend the AlabamaGermany Partnership's Annual Dinner in Hunstville

 

 

This is the 15th Annual Dinner of the AlabamaGermany Partnership. The program  will furthermore include 3 special guests; Consul General of Federal Republic of Germany Christoph Sander, Secretary of Commerce Greg Canfield and Colonel Jim Halsell, USAF, Retired - Retired NASA Astronaut and Veteran of 5 Space Shuttle Missions.

 

AlabamaGermany Partnership's (AGP) Board of Directors will recognize 17 German companies with recent investments and expansions in Alabama, at their Annual Dinner to be held in Huntsville on March 7th at the U.S. Space and Rocket Center.  Two other awards will as well be presented at the dinner - Dr. Barbara Fischer Award and Rainer Bauer Award. To register for the Annual Dinner please to go: www.alabamagermany.org.

 

About AlabamaGermany Partnership

The AlabamaGermany Partnership is an Alabama non-profit corporation formed in 1998 to "develop and support relationships and friendships between organizations and individuals in Alabama and Germany". The membership of the AlabamaGermany Partnership is comprised of German companies with location in Alabama, companies and entities that want to do business with German companies, academic and cultural institutions with interest in the German culture and language throughout the State. For more information visit: www.alabamagermany.org

 

Contact:

Tine Hoffmeister, Executive Director, AlabamaGermany Partnership

Phone: 205.943.4772, director@alabamagermany.org

www.AlabamaGermany.org

 

 


 

 

 

 

 

 

 

 

 

 

 

 

 

  




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Val Walton
   
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