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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:
Commercial Jet Inc. to invest $12 million in Dale County aircraft maintenance operation
Alabama's key row crops grow to $1 billion industry
Alabama Senate gives final passage to Airbus bill; Gov. Robert Bentley signs into law
State shifts more focus to career development Working for a living
Expert: Industry diversity benefits Shoals, state
Hoover economy getting back to pre-recession levels, city official says
The times, and the Mobile region, are changing with Airbus (Frances Coleman column)
Regions creates new small business lending line

 


 

Commercial Jet Inc. to invest $12 million in Dale County aircraft maintenance operation
April 5, 2013

DOTHAN, Alabama - Governor Robert Bentley, House Speaker Mike Hubbard and Alabama Department of Commerce Secretary Greg Canfield joined company and community leaders here today in announcing that Commercial Jet Inc. will invest $12 million to open a new 400,000-square-foot facility at Dothan Regional Airport in Dale County.

 

 The facility will employ hundreds of people.

The opening of the new facility will more than triple the company's capacity to provide freighter conversion and maintenance, repair and overhaul, or MRO, services.

 

"I am proud that the State of Alabama could play a key role in providing hundreds of new jobs for the people of the Wiregrass area," Governor Bentley said. "We know that Alabama is the ideal location for the aerospace and aviation industries. This announcement further strengthens our emerging role as an aerospace leader in the Southeast."

 

"Because of hard work and a committed, skilled workforce, Alabama has enjoyed tremendous success in industrial recruitment and job creation over the past few years, and today's announcement is proof we are not ready to rest on our laurels," said Speaker Hubbard, R-Auburn. "If Alabama is going to remain competitive and continue its impressive track record, we must continue to focus on creating the 21st Century jobs that companies like Commercial Jet and fields like the aerospace industry provide. With vision and determination, I believe we can make the Wiregrass and the rest of Alabama a major aerospace hub for the nation."



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Alabama's key row crops grow to $1 billion industry
By Dawn Kent | dkent@al.com 
on April 05, 2013

The value of Alabama's principal row crops reached a record $1 billion last year, thanks to a combination of rising prices and more efficient farming practices.
 

The combined value of the state's wheat, corn, soybean, cotton and peanut crops rose nearly 23 percent from 2011, according to Max Runge, an Alabama Cooperative Extension System economist at Auburn University.

 

That happened even as the value of the wheat and cotton crops declined, he said. The increases for corn, soybeans and peanuts cancelled out those losses.

 

Runge said the numbers underscore the importance of row crops to Alabama's economy.


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[al.com]

 

 

 


 


 


 

 


 

 

 

 

Alabama Senate gives final passage to Airbus bill; Gov. Robert Bentley signs into law
By Mike Cason | mcason@al.com 
on April 04, 2013

MONTGOMERY, Alabama --- A bill that would set a time limit on legal liability for commercial aircraft manufacturers for defects that could give rise to lawsuits received final passage today in the Alabama Senate.

 

Gov. Robert Bentley signed the bill into law this afternoon.The bill is important to help recruit suppliers for the new Airbus plant being built in Mobile, according to supporters.

 

"This bill will make sure Alabama remains competitive with neighboring states in attracting supplier jobs," Bentley said in a statement. "Already, Airbus will directly provide 1,000 jobs in Mobile, and more than 3,000 people will be employed in the construction phase of the Airbus facility.  As suppliers move in, we can attract thousands of additional jobs as well.  We want those jobs for the people of Alabama.  This legislation will help us accomplish our goal."

 

It passed with bipartisan support and was co-sponsored by Sens. Vivian Davis Figures, D-Mobile and Cam Ward, R-Alabaster.

 

more...

 

[al.com]


 

 

 

 

 


 

 

 

 

State shifts more focus to career development Working for a living

Emily Hayes

Thursday, April 4, 2013 

 

RAINSVILLE - The director of Alabama Career and Technical Education recently addressed the DeKalb County Board of Education to talk about changes coming to all Alabama schools. Phillip Cleveland, PhD., spoke about the "total shift in thinking" when it comes to career training at the high school level.

 

"The state board of education is definitely taking a new approach to public education," Cleveland said. "We're recognizing the importance of, not only students that are preparing to go to college, but also students that are preparing to go to the workforce.

 

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[Times-Journal


 

 

 

 


 




Expert: Industry diversity benefits Shoals, state
By Russ Corey - TNValleyNow.com
4/5/13

FLORENCE - While other regions of the country continue to struggle economically, Alabama and the Shoals are doing relatively well, an economist with BBVA/Compass Bank said Thursday.

 

Nathaniel Karp, chief U.S. economist for BBVA/Compass Bank, discussed the state of the economy with about 50 Shoals business people and government leaders at the Marriott Shoals Conference Center.

 

Karp said new housing starts are picking up and home prices are increasing across the state. Karp said the Shoals enjoys a low cost of living, an educated workforce and a good geographic location.

 

Alabama's exports are strong and the state's unemployment rate is lower than the national average. The state exported more goods in 2012 from the transportation, minerals, chemical and machinery sectors than it did between 2006-10, Karp said.

 

"We're seeing the effect of the diversity of manufacturing," Karp said. "It's a benefit from the global transformation."


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[Decatur Daily]

 

 


 

Hoover economy getting back to pre-recession levels, city official says
By Jon Anderson | janderson@al.com 
on April 04, 2013

HOOVER, Alabama - The city of Hoover suffered through the most recent recession like most other cities in America but weathered the storm and now has recovered to pre-recession days, the city's assistant executive director told a group of business leaders today.

 

Tim Westhoven, who has been Hoover's assistant executive director since 2006, came loaded with statistics as he spoke today to the Hoover Area Chamber of Commerce Economic Development Committee.

 

The city of Hoover's general revenues fell from $96.4 million in fiscal 2007 to $87.7 million in 2009 but since that time have gradually climbed back up to $96.9 million in 2012, Westhoven said. That's a strong indicator of the economic recovery because 70 percent of Hoover's general revenues come from sales and use taxes, he said.



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The times, and the Mobile region, are changing with Airbus (Frances Coleman column)
By Frances Coleman 
on April 04, 2013 

 As we approach Monday's big ground-breaking ceremony for Airbus' first assembly plant on U.S. soil, the air is full of grand predictions about thousands of jobs, a global profile for Mobile and the transformation of an entire region.

But the truth is, hyperbole aside, it's impossible to fully gauge the long-range impact of the Airbus plant on the central Gulf Coast.

 

Who, for example, can accurately forecast the economy over the next 10, 20 or even 30 years? (Did any of us imagine a decade ago that today we'd be recovering from a worldwide recession?) And who can say how well local and state politicians will respond to a heightened demand for services - whether in the form of more schools, better roads, increased police protection or quality-of-life amenities?

 

What happens if down the road, for reasons beyond anyone's control locally, Airbus decides it can't justify a continued presence in south Alabama? (Remember the high hopes and glorious expectations when the German company ThyssenKrupp announced in 2007 that it would build its first U.S. steel mill 30 miles north of Mobile? A mere five years later, the company sold the Alabama mill at a brutal financial loss.)


 more...

 

[al.com]

 

 

 

 

 


 

Regions creates new small business lending line
Antrenise Cole Reporter-Birmingham Business Journal
Apr 4, 2013

Regions Bank said today it is creating a new business and community banking line of business that will serve businesses with up to $20 million in sales.

 

The Birmingham-based bank said it previously managed business and community banking as part of its business services group.

 

Regions (NYSE: RF) said the new division would allow it to boost its efforts on serving small businesses. John Asbury, head of business services, will now focus exclusively on Regions' commercial banking, treasury management, real estate banking, business capital, specialized industries and capital markets businesses, the bank said.

 

The bank has tapped veteran banker Joe DiNicolantonio to head the new division. He reports directly to John Owen, head of business lines.

 

more..

 

[Birmingham Business Journal]

 

 


 




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