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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:
Toyota in Huntsville gearing up for V-6 engine assembly at new facility in January (photos)
SCA plant reinvigorated Shoals
UAB microbiologist's DNA sequencing technology gets licensed
Angel investment network provides $3.2 million in 2013's first nine months
Stimpson on cultivating a business-friendly climate: 'You will see some changes at City Hall'
Opelika will host veteran entrepreneur workshop this Tuesday

 


 

 

Toyota in Huntsville gearing up for V-6 engine assembly at new facility in January (photos)

on October 17, 2013 

 

HUNTSVILLE, Alabama - Following a big announcement in 2012 that Toyota would invest $80 million in a V-6 engine assembly expansion in Huntsville, the Japanese automaker revealed in June it would spend an additional $150 million at its Huntsville engine plant, bringing total employment to 1,150 jobs.

 

The most recent announcement, which marked Toyota's fifth significant investment in its Huntsville operations since the plant launched in 2003, is a testament of the automaker's confidence in North Alabama, said Lucia Cape, vice president of economic development for the Chamber of Commerce of Huntsville/Madison County.

 

"To have a company like Toyota investing in Alabama and investing in Huntsville and Madison County, and for them to be growing the way they've grown since they were first established here, speaks so highly of our workforce and our business environment," she said. "Toyota is obviously a big draw for employees who want to work there."

 

 

more...

 

[al.com]

 

 

 

 

 


SCA plant reinvigorated Shoals

By Bernie Delinski Staff Writer |

Oct. 17, 2013

 

BARTON - Shoals Economic Development Authority President Forrest Wright remembers a time when the Shoals had convinced itself it was a "can't-do" community.

 

Job losses, closings and reductions in employment at major plants, as well as major hits on the local garment industry after jobs were outsourced in the 1990s, had local leaders worried about the area's future.

 

Then SCA came along, showing tremendous interest in a location in the tiny Colbert County community of Barton. The company had other prospects, however.

 

So, local leaders - working as one Shoals rather than individual cities and counties - came together. Their unified efforts helped bring the plant to Barton.

 

"Then we became a can-do community," Wright said.

 
more...

 

 

 


 


UAB microbiologist's DNA sequencing technology gets licensed
 Yann Ranaivo Reporter-Birmingham Business Journal
Oct. 17, 2013

San Diego-based Illumina Inc. has licensed the rights to a DNA sequencing technology developed by a University of Alabama at Birmingham microbiologist and a University of Washington physicist. 

 

UAB said in a news release this week that the technology revolves around nanopores that were first studied as a potential weakness in the tuberculosis bacteria. UAB, however, said the technology has now joined efforts to speed up and the lower the costs of sequencing.

 

Sequencing reveals genetic information that partly determines a person's risk to many diseases and helps identify which drugs will work for him or her. For example, UAB said cancer centers are sequencing tumors in search of variations that make some resistant to chemotherapy.

 

more...

 

[Birmingham Business Journal]

 

 


Angel investment network provides $3.2 million in 2013's first nine months

on October 17, 2013 
 

MOBILE, Alabama - The Angel Investor Management Group closed recently its fifth deal of 2013, bringing the statewide investment engine's year-to-date total to nearly $3.2 million.

 

The nine-month total represents a 10 percent increase compared with the $2.9 million invested in all of 2012, and the group appears on track to finish 2013 strong.

 

The two-year-old network was founded to identify and pursue investment opportunities among high-growth and high-revenue businesses capable of delivering a three- to 10-time return-on-investment within three to seven years.

Mobile's Gulf Coast Angel Network - one of four independent regional hubs alongside Auburn, Huntsville and Birmingham comprising the statewide group - met Wednesday to vet the next possible deal, a $700,000 capital investment request from Tennessee-based NewsBreak.

 

more...

[al.com]

 



 

 

 


Stimpson on cultivating a business-friendly climate: 'You will see some changes at City Hall'

on October 17, 2013

MOBILE, Alabama -Mobile Mayor-elect Sandy Stimpsonmight not take office for another two weeks, but his push to streamline the permitting process and boost other business-friendly practices is already being felt.

 

"You will see some changes at City Hall, I hope, starting pretty soon," Stimpson told a crowd of more than 50 gathered Wednesday for the Gulf Coast Angel Network.

 

The local investor network, launched about one year ago, is part of the larger, statewideAngel Investor Management Group created to identify and pursue investment opportunities among high-growth and high-revenue businesses.

 

more...

 

[al.com]

 

 

 


Opelika will host veteran entrepreneur workshop this Tuesday

October 17, 2013 

 

Veterans are 45 percent more likely than non-veterans to become an entrepreneur according to the U.S. Small Business Administration (SBA).

 

An event scheduled for Tuesday in Opelika will help many area veterans learn how to become an entrepreneur and manage their own businesses successfully.

 

The SBA, the Veterans Business Outreach Center and the National Leadership Congress are hosting the Entrepreneur Small Business Workshop for Veterans. The event's aim is to provide veterans, spouses, National Guard and reserve members along with survivors information about starting and financing their own veteran-owned small business.

 

The event will be held Tuesday from 9 a.m. until 3 p.m. at the Event Center Downtown, located at 614 N. Railroad Ave. in Opelika. There is no cost to attend and nothing will be sold, according to event organizers. Lunch will be provided.

 

The event will include several local and national presenters. The goal is to help veterans who want to start or develop their own business - no matter the size.

 
more...

 

 




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