Legislature approves tax incentives for redevelopment of historic homes and commercial buildings
By Stan Diel | firstname.lastname@example.org
on May 09, 2013
BIRMINGHAM, Alabama - The Alabama House of Representatives has given final approval to the Historic Tax Credit, which will give developers a major incentive to rehabilitate historic homes and commercial buildings statewide.
The House unanimously approved the bill, which provides an income tax credit of up to $5 million over four years for qualified redevelopment projects. In order to qualify for the incentive the rehabilitation expenses for a property must exceed 50 percent of its purchase price or $25,000, whichever is greatest.
Structures certified as historic by the Alabama Historical Commission or those built before 1936 and that meet other requirements may qualify.
David Fleming, CEO of the development organization REV Birmingham, said the law will prove to be a useful tool in Birmingham, where it's likely to help make possible the renovation of homes in historic neighborhoods such as Norwood and bring new life to long-idle buildings downtown.
Alabama primed for more industrial recruitment (Guest column by Greg Canfield)
By Greg Canfield, Secretary
Alabama Department of Commerce
on May 09, 2013
Alabama's aggressive marketing efforts, combined with its Accelerate Alabama economic development plan, put the state in the driver's seat for recruiting companies and helping them expand within its borders.
In fact, a Wells-Fargo senior economist recently said the state is poised for even stronger gains in 2013. Mark Vitner, along with Wells-Fargo economic analyst Sara Silverman, outlined the projected gains in a recent economic report.
"Game changing industrial development triumphs, such as the Airbus assembly facility being developed in Mobile and the continued emergence of Alabama's automotive sector, are combining with catalysts such as Alabama's Industrial Training (AIDT) program and the key infrastructure improvements, such as those made at the Port of Mobile, to reposition Alabama's economy to better compete in the global marketplace," the report said.
Take a look at Alabama's 2012 New and Expanding Industry Report. It shows an incredible gain in investment in the state with a 148 percent increase as compared to 2010. In 2012, companies announced $5,405,382,649 in investment and 20,847 new jobs coming to Alabama. That was up from $4,083,056,603 and 17,248 jobs in 2011.
HTNA exec praises city, county
An executive with Hayashi Telempu North America (HTNA) told Rotary Club members earlier this week that Jasper has been a perfect fit for the company.
HTNA, formerly Amtex, first located in Jasper in 2011. The company is in the middle of a $27 million expansion in the city. Kazuo Moriya, HTNA's assistant project manager, said Tuesday said the company's locating in Jasper has an extremely positive experience.
Moriya said local economic officials, David Knight, of the Walker County Economic Development Authority, and David O'Mary, of the Jasper Industrial Development Board, played a pivotal role in HTNA originally locating in Jasper.
"They are wonderful people to work with," he said. "They won over our company's leaders with their personality and charm as well as with their hearts."
The company's experience in Jasper since 2011 is what led to the expansion locating here as well.
District to give Hexcel $200K
Money will help defray expansion costs
By Eric Fleischauer
The Decatur Daily
May 10, 2013
If it meets employment targets, Hexcel Corp. will receive $200,000 from the Morgan County Economic Development Cooperative District, the agency's board decided Thursday.
Hexcel is in the midst of an expansion on land it purchased at auction from the Tennessee Valley Authority. The Cooperative District board agreed to pay Hexcel $100,000 if the expansion adds 50 employees by Jan. 31. It will pay the company another $100,000 if it adds 50 more by Oct. 31, 2015.
Jeremy Nails, chairman of the Cooperative District, said he promised Hexcel to present the proposal to the board as part of the inducement for the company to purchase the 74 acres from TVA.
The company bought the land for $2.7 million in January 2012.Nails said the 74-acre tract has structural problems that must be fixed before construction can begin.The $200,000 is designed to defray Hexcel's expenses in preparing the land for expansion.
Brundidge grants SCFG tax abatement
By Jaine Treadwell
May 8, 2013
The Brundidge City Council voted Tuesday in favor of a 10-year abatement of ad valorem taxes for Southern Classic Food Group in Brundidge.
The tax abatement will also include non-educational sales and use taxes during the construction period, along with property taxes and mortgage and recording fees.
Britt Thomas, Brundidge city manager, said Chuck Caraway, SCFG owner, had been talking with the city and Pike County Economic Development Corporation about expansion plans for the food processing company if certain things fell into place.
"On Monday, Chuck Caraway presented the city with an application to consider the tax abatement," Thomas said. "The SCFG expansion will be a $2.8 million capital investment. Fifty-five additional employees will be hired over a four-year period with a $1.4 million payroll."
Birmingham breaks ground on new bicycle and pedestrian paths, expansion of Civil Rights Heritage Trail
By Mike D. Smith | email@example.com
on May 09, 2013
BIRMINGHAM, Alabama -- Federal Highway Administrator Victor Mendez, Birmingham Mayor William Bell and other city and community leaders broke ground Thursday on the first part of a 29-mile corridor of bicycle and pedestrian pathways through the city.
Part of the city's "Roads to Recovery" initiative, the pathways are part of the larger Red Rock Ridge and Valley Trail greenway plan developed by the city and the Freshwater Land Trust.
The improvements are covered in large part by a $10 million grant from the Transportation Investment Generating Economic Recovery, or TIGER, program through the U.S. Department of Transportation.
A coalition of community partners provided a $5 million local match for the project.
Forbes Ranks Auburn/Opelika in Top 10 Best Small Cities for Jobs
Auburn, AL, May 10, 2013, - Forbes.com has named the Auburn/Opelika Area number ten on this year's list of America's best small cities for jobs.
Forbes ranked 398 metropolitan statistical areas (MSAs), including 241 MSAs with less than 150,000 jobs. Rankings were based on employment data over more than a decade, growth trends and "the region's momentum." Forbes cites economic diversity, affordability and quality of life as key to job creation.
Auburn Mayor Bill Ham, Jr. said "This couldn't be a better follow-up to what our citizens told us in the Annual Citizen Survey. We've been working for decades to build a diverse, stable economy and rankings like this are a testament to the success of that approach. In Auburn, Alabama, we're dedicated to creating job opportunities and maintaining our excellent school system and quality of life."
Other recent Forbes rankings include the #6 "Best Small Place for Business and Careers in the U.S." in 2010, "#1 in Projected Job Growth in the U.S." in 2009 and the "6th Fastest Growing Small Metro in the U.S." in 2008.
For more information:
David Dorton, director of public affairs for Auburn,
COMMERCIAL JET's ALABAMA FACILITY SELECTED AS AEI's FOURTH
AUTHORIZED CONVERSION CENTER
MIAMI, FL., Aeronautical Engineers, Inc. (AEI), is pleased to announce that it has selected Commercial Jet's (CJ's) new 400,000 square-foot facility at the Dothan Regional Airport (DHN) in
Dale County, Alabama as its forth AEI Authorized Conversion Center (AACC). Commercial Jet's Alabama facility will provide 737-300SF, 737-400SF & MD80SF Passenger to Freighter Conversions and
Maintenance for AEI customers.
Commercial Jet's Alabama facility joins a growing number of AEI Authorized Conversion Centers which include Commercial Jet's Florida facility based in Miami Florida, Flightstar Aircraft Services, Inc. based in Jacksonville Florida and Boeing Shanghai Aviation Services based in Shanghai China.
Mr. Robert T. Convey, Vice President of Sales & Marketing for AEI stated that "It was critical that we secure another Authorized Conversion Center to keep up with ever increasing market demand. CJ's facility in Alabama will benefit from CJ's Miami conversion experience and be able to tap into a local work force that is traditionally strong in aircraft structures and MRO. After the completion of the twelve million dollar construction renovation, CJ's Alabama facility, with its planned six (6) conversion lines will become the largest passenger to freighter conversion facility in the world."
John Schildroth, Vice President and General Manager for the Dothan facility, said Commercial Jet plans
to hire several hundred trained and experienced aircraft technicians in the local market within the next
few years. "We are already getting a flow of new orders for our new facility, which will be open for business in the 2nd quarter of this year," Schildroth said.
Commercial Jet's Alabama facility will initially open three production lines capable of converting twelve
(12) AEI 737SF & MD80SF aircraft annually with the first three 737-400's expected to enter into conversion in the 2nd quarter of 2013. Based on the plans for 2014, capacity would reach twenty four (24) AEI
737SF & MD80SF conversions per year.
For more information:
Commercial Jet Inc, Alabama Facility
Vice President & General Manager
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