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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:
Auburn City Council OKs incentives for 'Project Special K'
Wise, Toyota could become partners
Mayor Tommy Battle: Huntsville courting 34 companies with potential to create more than 10,000 new jobs
5 questions with Mobile Mayor Sandy Stimpson: Coastal Innovation Hub's grand opening
Southern Energy Homes to relocate in Russellville
$2.5 million railroad improvement project underway
L.B. Foster upgrades Alabama facility
Opening its doors

 


 

Auburn City Council OKs incentives for 'Project Special K'

From staff reports

November 6, 2013

 

The Auburn City Council approved an incentives package at its regular meeting Tuesday in the hopes of locating a company currently called "Project Special K" in Auburn Technology Park West.

 

The incentives package involves utilizing funds from the revolving loan fund or the Industrial Development Board's own resources to locate the company in lot seven of the technology park. The resolution approving the package also stipulated the Industrial Development Board's design/build and construction/financing program would be utilized for an approximately 63,000 square-foot manufacturing facility.

 

The board will secure financing up to $7 million for the project and enter into a lease agreement in the facility with the project. The city would also provide a 10-year tax abatement, up to $15,000 for relocation assistance of key personnel and up to $54,450 for training assistance through the Auburn Training Connection.

 

more...

 

[Opelika-Auburn News]

 

 


Wise, Toyota could become partners

By Bernie Delinski and Mike Goens Of the TimesDaily 

Nov. 7, 2013

 

MUSCLE SHOALS - Wise Alloys and Toyota Tsusho Corp. are studying a possible partnership that would make the local aluminum sheet producing company a major player in the evolving automobile manufacturing industry.

 

Wise officials announced Wednesday the companies entered into a memorandum of understanding to study the feasibility of a joint venture.

 

If the study, which is to be completed by March, shows a partnership is beneficial to both companies, Toyota could sign a contract with Wise to provide aluminum for use in manufacturing Toyota vehicles. It was unclear Wednesday how many or which Toyota models would be involved in the potential project with Wise.

 

The partnership would produce numerous jobs at Wise, but company officials made it clear it's too early to speculate about how jobs would be created or the total financial investment involved in the project.



more...

 

 

 


Mayor Tommy Battle: Huntsville courting 34 companies with potential to create more than 10,000 new jobs

on November 06, 2013

 

HUNTSVILLE, Alabama - Huntsville Mayor Tommy Battle revealed Wednesday that the city is courting 34 new or expanding companies with the potential of employing more than 10,000 people.

 

During his annual "State of the City" speech, Battle said the firms showing interest in the Rocket City represent a variety of fields: high-tech, of course, but also manufacturing and health care.

 

All the companies are impressed with Huntsville's ability to deliver an "educated, tech-savvy workforce," he said, but none of them are quite ready to commit.

 

more...

 

[al.com]

 


 

 

 


5 questions with Mobile Mayor Sandy Stimpson: Coastal Innovation Hub's grand opening

on November 06, 2013 

 

MOBILE, Alabama - Mobile Mayor Sandy Stimpson took a few minutes ahead of the grand opening for the University of South Alabama's Coastal Innovation Hub to talk about the significance of supporting the entrepreneurial community.

 

Q: Business ventures are started every single day. Why should the citizens of Mobile stop and take notice of what's going on at the Coastal Innovation Hub?

 

Stimpson: To me, it's very difficult to put a price tag on the value of something like this. There are so many things startups need to be successful - whether its contacts or guidance or feedback - and it can be difficult to find those things when whatever you're doing is in its earliest stages. What they've done here with the Hub is create an environment that provides easy access to those things and things they haven't even thought about yet.

 

more...

[al.com]

 

 

 


Southern Energy Homes to relocate in Russellville

By Kellie Singleton

November 5, 2013

 

After months of searching for a buyer for the empty Franklin Homes property in Russellville Industrial Park #2, officials recently found a buyer that will offer a much-needed boost to the local economy.

According to officials, Southern Energy Homes finalized closing agreements on Friday, Oct. 11, to acquire the 27-acre property and accompanying buildings that will house the Southern Homes division of the company, which is relocating from its current location in Double Springs.

 

"This was a good move for us because we were looking to expand, and building a new facility would have taken a year to a year and a half to complete," Southern Homes division manager David Brewer said.

 

"This facility is already available, and it fits all of our needs. It is a bigger, better, newer facility than the one we are currently in, and it will be better for our team members in terms of safety because of the availability of newer technology.



more...

 

 


 

$2.5 million railroad improvement project underway
By Emily McLain
Nov 06, 2013
 
SYLACAUGA - The long-awaited railroad relocation and rehabilitation project is finally underway in Sylacauga, and the railroad company is now adding to the work.

Genesee and Wyoming Inc., owner of Eastern Alabama Railway, will provide an additional $187,000 for rail replacement upgrades and construction of a gabion retaining wall. This is in addition to the roughly $1.6 million Federal Railroad Administration grant awarded to the city for this project and a $758,000 match already provided by the railway.

The project includes relocation of the railway's interchange activities from the main intersection of Broadway Avenue and West Fourth Street to a location near U.S. 280 at the Industrial Park, providing increased access to local industries and relieving downtown traffic flow issues caused by train frequent crossings.


more...

 

 

 

 

 

 


 

 
L.B. Foster upgrades Alabama facility
Paul J. Gough Digital Producer-Pittsburgh Business Times
Nov. 6, 2013

L.B. Foster Co. has upgraded its pipe-coating plant in Birmingham, Ala., the Pittsburgh-based manufacturer said.

L.B. Foster (Nasdaq: FSTR) said the upgrade was needed because of an expansion at American Steel Pipe, which has a plant in the same Birmingham location. American Cast Iron Pipe Co. is adding 700,000 net tons of production of steel pipe, and L.B. Foster executives said its own upgrade will help American Cast Iron Pipe.

 

"We asked L.B. Foster to increase pipe-coating capacity to accommodate the new world class production levels anticipated by American's expansion," American Steel Pipe's Jon Noland said in a prepared statement.


more...

 

[Pittsburgh Business Times]

 

 

 


 

Opening its doors

By Wes Mayberry 

November 7, 2013 

 

Nearing its 25th year in operation, local precision machine shop Avans Machine Inc. hosted an educational event Wednesday morning to provide Alabama A&M University students with firsthand knowledge of the machining industry to better prepare them for their professional careers.

 

According to a press release, Aerojet Rocketdyne, a rocket and missile propulsion manufacturer based in Canoga Park, Calif., is in a NASA mentor-protégé agreement with Huntsville-based Alabama A&M University.

 

 The agreement is administered through NASA headquarters and is sponsored by the Marshall Space Flight Center in Huntsville. 

 

As part of this two-year agreement that began in 2012, Aerojet will mentor A&M students and provide business and technical development, workforce readiness workshops, job search and career education advice, job shadowing, lectures, engineering-knowledge transfer opportunities and other career-readiness activities, the release said.


 more...


 




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