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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:
Pellet plant project to create 175 jobs in Selma
Birmingham City Council panel gives approval to Hardy Corp. incentives
Auburn City Council to discuss tax abatements for German automotive supplier
Output at Hyundai's Alabama plant is up 18.6 percent so far this year
Mayor Tommy Battle: Northern Bypass critical link for getting vehicles off parkway, spurring economic development
Mercedes' Alabama plant ranks high on list of top automotive firm 401k plans

 


Pellet plant project to create 175 jobs in Selma

on August 05, 2013 

SELMA, Alabama -- Zilkha Biomass Energy is renovating an existing facility in Selma in a project that will produce wood pellet fuel and create 175 jobs.
 

The company is moving in to the former Dixie Pellets plant, which it bought out of bankruptcy in 2010.

 

It will become the world's first full-scale plant to produceZilkha Black Pellets, which are an environmentally sustainable and low carbon fuel that can be transported and burned by coal plants using their existing equipment, a press release said. Unlike traditional compressed wood pellets, the hydrophobic Zilkha Black Pellets can't be damaged by water.

 

The facility itself is expected to have 55 jobs, with another 120 jobs in the trucking and forestry industries in the community. And during construction, about 380 jobs are expected.

 

more...

 

[al.com]

 

 

 

 

 


Birmingham City Council panel gives approval to Hardy Corp. incentives

on August 05, 2013 

BIRMINGHAM, Alabama - The Birmingham City Council's economic development committee approved plans to award $385,000 in incentives to Hardy Corp. to keep the mechanical contractor and its 60 jobs headquartered in the city.

The project agreement calls for Hardy to invest up to $6 million in a new headquarters when it moves from its current location at 430 12th St. South. Birmingham will incentivize the retention by paying $55,000 a year for seven years to help offset its expenses. The agreement also calls for the city to refund the company any payment in excess of $5,000 the company pays annually in business licenses for the next five years.

Griffin Lassiter, senior project manager with the Mayor's Office of Economic Development, said Birmingham should more than make its investment in Hardy back.

 

"The city revenues of Hardy being in the city are about four-times that much," he said.



more...

[al.com]

 

 

 

 


Auburn City Council to discuss tax abatements for German automotive supplier

Drew Taylor | Opelika-Auburn News

Aug. 5, 2103

 

The Auburn City Council will convene Tuesday night with a number of items to discuss, such as the approval of tax abatements for a new company and the postponement of sewer rate increases across the city.

 

The council will discuss a resolution regarding the approval of tax abatements for RAPA (Rausch & Pausch LP) in order for the company to purchase new equipment for its new facility in Auburn Technology Park West. According to the resolution summary, the German company, which makes automotive valves and control blocks, anticipates hiring 50 new employees over the next two years with a capital investment of an estimated $7.85 million. 

 

The company first announced plans to build an Auburn facility last December and to go into production by the fall.

 

more...

 

[Opelika-Auburn News]

 


Output at Hyundai's Alabama plant is up 18.6 percent so far this year

on August 05, 2013 

MONTGOMERY, Alabama -- Hyundai's Montgomery factory has produced 239,961 cars so far this year, a pace that puts the facility 18.6 percent ahead of this same time last year.

 

The plant, which added a third shift last fall, has been working to keep pace with demand for its products: the Sonata sedan and the Elantra compact.

 

Last month, U.S. sales of the Elantra rose 29.4 percentfrom a year ago, while sales of the Sonata fell 10 percent.

The Montgomery factory has not been building as many Sonatas as last year, to increase output of the Elantra, and Hyundai blames the Sonata's slipping sales on lower inventories. The sedan remains a top seller for the Korean automaker in the U.S.

 

more...

 

[al.com]

 

 


Mayor Tommy Battle: Northern Bypass critical link for getting vehicles off parkway, spurring economic development

on August 05, 2013 

 

HUNTSVILLE, Alabama - Showing up a few minutes late for Mayor Tommy Battle's "Restore Our Roads" press conference, Madison County Commissioner Phil Riddick may have illustrated the need for traffic relief better than anything said during the event Monday.

 

"I waited in line at that light for more than five minutes," Riddick, the District 5 representative, said of being stopped in the left-turn lane for two traffic signal cycles before he could turn from North Memorial Parkway onto Bob Wade Lane.

 

The heavy traffic at 4:30 p.m. illustrated why Battle and about two dozen officials and residents said the state needs to help this portion of Madison County with a Northern Bypass. The roadway would connect U.S. 72 East to Interstate 565 at Research Park Boulevard.

 

more...

 

[al.com]

 


 


Mercedes' Alabama plant ranks high on list of top automotive firm 401k plans
on August 06, 2013 

Mercedes-Benz U.S. International Inc., the official name of the automaker's Alabama operations, ranks No. 5 on a new list of the top automotive firm 401k plans.

 

Financial research firmBrightScope today announced the top 25 companies in the automotive industry with the highest-ranked 401k plans containing more than $100 million in assets.

 

The list features specific plans, so some companies are listed more than once for different plans. MBUSI ranks No. 5 for the Mercedes-Benz U.S. International Inc. Retirement and Savings Plan

.

Key statistics of the plans on the list include an average account balance of $92,025, an average participation of nearly 85 percent, an average company contribution of $2,580 and an average salary deferral of $5,326, a press release said.

 

more...

[al.com]

 

 




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