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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:
Dec. 17 trade symposium in Mobile to focus on exports, job creation
ArcelorMittal Deal for Plant Signals Faith in a Recovery
State automakers on the way to another record year (Driving Alabama)
Lieutenant governor visits Piedmont High School
Raytheon lands $16 million Army contract for work on standard missile program
Eastaboga's Bridgewater Interiors recognized as National Minority Manufacturer of the Year
Hangout Festival injects $31 million into local economy, study finds

 


 

Dec. 17 trade symposium in Mobile to focus on exports, job creation

on December 02, 2013


MOBILE, Alabama - The Alabama Department of Commerce and Mobile Area Chamber of Commerce will host "How Exports Create Jobs: A Conversation with Greg Canfield" at 8 a.m. Tuesday, Dec. 17.

 

The trade discussion will feature the Alabama commerce secretary alongside Jimmy Lyons, director and chief executive officer of theAlabama State Port Authority.

 

In addition, Christina Stimpson, the chamber's director of international trade, will moderate a panel discussion with members of the Export Alabama Alliance, offering resources to help "you, your community and your constituents achieve global success and create jobs through exports."

 

more...

 

[al.com]

 

 


 

 

ArcelorMittal Deal for Plant Signals Faith in a Recovery

By Stanley Reed

December 1, 2013

 

LONDON - ArcelorMittal's acquisition of an ailing rival's steel plant in Alabama signals confidence in the economic recovery and may herald a resurgence of deal-making by ArcelorMittal, the world's largest steel maker, its chief executive suggested on Sunday.

 

ArcelorMittal announced on Friday that it would join the Nippon Steel & Sumitomo Metal Corporation to buy the steel-finishing plant in Calvert, Ala., from a European rival, ThyssenKrupp, for $1.55 billion. In a conference call with reporters on Sunday, ArcelorMittal's chief executive and chairman, Lakshmi N. Mittal, said the plant would serve auto factories in the Southern United States, where his company does not have a major presence.

 

The global financial crisis sharply curtailed demand for steel in much of the world, but Mr. Mittal said consumption was again growing, though the recovery was more advanced in the United States than in Europe.

 

 

more...

 

[New York Times]


 

 


State automakers on the way to another record year (Driving Alabama)

on December 02, 2013

Alabama's automakers are poised to achieve another production record this year, surpassing last year's record output of more than 880,000 vehicles.

 

Through last week, the three auto assembly plants in the state had produced a combined 854,330 vehicles. During the same period last year, the automakers turned out close to 825,000 vehicles.

 

The numbers come from Hyundai, which announces its monthly production totals, and Automotive News Data Center estimates for Mercedes-Benz and Honda.

 

more...

[al.com]

 

 

 


 

Lieutenant governor visits Piedmont High School
By Robert Richardson 
Dec 02, 2013

PIEDMONT, Ala. -Lieutenant governor Kay Ivey paid a visit to Piedmont High School Monday to learn about the school's technology initiative.

Ivey said the program is doing an ideal job in maximizing different learning opportunities for students.

 

"I am thrilled with the progress they've made with all the science, technology, mathematics, and engineering courses," Ivey said.

 

"This is learning of the future.  This is the way the real world operates.  We're in the global economy and it's time we help our students."


more...

 

 


Raytheon lands $16 million Army contract for work on standard missile program

on December 02, 2013 

Raytheon Missile Systems has been awarded a $16 million modification to a previous Navy contract for engineering and technical support services for the standard missile program.

 

A portion of the work will be done at Raytheon's missile testing and integration plant at Redstone Arsenal.

Raytheon was also awarded a $98 million Army contract for the design, building, integration, testing, and delivery of the Electronic Warfare Planning and Management Tool. The contract covers work through 2018.


Also, Austal USA LLC of Mobile was awarded a $8.2 million modification to an existing Navy contract for work on the littoral combat ship.  

 

 

more...

 

[al.com]


 

 

 

 

 


Eastaboga's Bridgewater Interiors recognized as National Minority Manufacturer of the Year

on December 02, 2013 

EASTABOGA, Alabama -- Bridgewater Interiors, an automotive seating, interiors and electronics supplier, was named Minority Manufacturer of the Year, as part of the 2013 National Minority Enterprise Development Awards from the U.S. Department of Commerce.  

 

The Eastaboga company was one of 12 organizations, businesses and individuals to receive the honor, awarded for leadership and advancement of minority businesses.

  

The awards were presented by U.S. Secretary of Commerce Penny Pritzker today at a ceremony in Washington, D.C. 

 

The award is chosen based on total revenues, challenges, total jobs created and a business' economic impact. 

 

more...

[al.com]

 

 

 

 

 

 


Hangout Festival injects $31 million into local economy, study finds

on December 02, 2013 

GULF SHORES, Alabama -- Proving its worth, the three-day Hangout Music Festival has essentially extended the summer season on the Alabama Gulf Coast by infusing more than $31 million into the local economy during the traditional tourist "shoulder season" in May, according to results of an Auburn professor's study.

 

M. Keivan Deravi, a professor of economics at Auburn University in Montgomery, revealed the city-funded study's finding during Monday's City Council meeting.

 

"I just looked at the Gulf Shores-Orange Beach area and the numbers are pretty impressive to be honest with you," Deravi said.

 

Having done numerous economic impact studies across the state, including Airbus, Deravi said the Hangout Festival was a "unique event" that reaches well beyond the local economy.

 

more...

 

[al.com]

 

 

 

 




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