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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:
Gov. Robert Bentley says Alabama will have a 'good proposal' for Boeing
Honda hits another milestone at its Alabama factory: By the Numbers
Biggest Bankruptcy Before Detroit, Alabama County Stages Comeback
Report: Alabama's creative industries make $8.7B
Expert: Alabama economy to improve while national recovery 'painfully sluggish'
Instagift to expand due to rapid business growth
"What's Working?" Shelby Co. touted for the best livable towns, education and jobs
U.S. unemployment rate falls to 7 percent, lowest point in 5 years
TAX STRATEGIES FOR EXPORTERS

 


Gov. Robert Bentley says Alabama will have a 'good proposal' for Boeing

on December 06, 2013

MONTGOMERY, Alabama -- Gov. Robert Bentley said Alabama will have a good proposal for Boeing as the state seeks to land a new 777x assembly plant.  

 

A question during the industry hunt is how much the state can offer after a $158 million enticement package to bring Airbus to Mobile last year.  Bentley said they are looking at other possible incentives, but did not elaborate. 

 

"We are looking at that right now. That's one of the things we are working through. We worked on it all day yesterday. We worked on it this morning. We will continue to work through the weekend," Bentley said.  

 

"We will put together a good proposal," Bentley said.



more...

[al.com]

 

 


 

 Honda hits another milestone at its Alabama factory: By the Numbers
on December 05, 2013 

LINCOLN, Alabama --Honda's auto assembly operations in Talladega County marked another milestone today, as workers celebrated production of the factory's 3 millionth vehicle.

 

The Japanese automaker did not identify which model was the milestone vehicle that rolled off the line this week. The plant currently produces Honda's Odyssey minivan, Pilot SUV, Ridgeline pickup and Acura's MDX SUV, as well as the V-6 engines that power each.

 

Tom Shoupe, president of Honda Manufacturing of Alabama, credited the workers.


 more....

 

[al.com]

 


 

 

Biggest Bankruptcy Before Detroit, Alabama County Stages Comeback 

By Dan Alexander

Dec. 5, 2013

When Detroit filed for bankruptcy in July, it hit home for David Fleming, CEO of REV Birmingham, an economic development organization in Birmingham, Alabama.

 

"Well I could feel for them," Fleming said. "I never did look at it and say Detroit is done. I was sure they weren't done."


He would know. In 2011, Fleming watched from an uncomfortably close position as Jefferson County, Alabama, which contains Birmingham, made national news by declaring the largest municipal bankruptcy in U.S. history before Detroit. The story that has gotten far less attention is the area's dramatic economic comeback since.

 

 

He would know. In 2011, Fleming watched from an uncomfortably close position as Jefferson County, Alabama, which contains Birmingham, made national news by declaring the largest municipal bankruptcy in U.S. history before Detroit. The story that has gotten far less attention is the area's dramatic economic comeback since.

 

more...

 

[Forbes]



 

 

 

 

 

 


 

Report: Alabama's creative industries make $8.7B
Written by Brad Harper

A new study paints a clear picture of the role the creative industries play in Alabama's economy. That's by design.

From architecture to theater, nonprofit and for-profit groups combine to employ more than 2 million people statewide and generate nearly $8.7 billion in revenue each year, according to a report released Thursday.

 

The Alabama State Council on the Arts released the study, in part to give policymakers and industry recruiters more appreciation for the creative industries beyond what they add to the quality of life.

 

"We have used a lot of adjectives in the past like 'important,' and 'significant' and 'meaningful,' but we want to start being able to talk about numbers," ASCA Executive Director Al Head said.



more...

 

 


Expert: Alabama economy to improve while national recovery 'painfully sluggish'


BIRMINGHAM, Alabama - Pessimism reigns for the national economic outlook but optimism exists for Alabama's economy, an economics expert told officials this morning.

 

Albert Niemi, dean of the Cox School of Business at Southern Methodist University, told Birmingham business leaders the national economy is in a "painfully sluggish recovery," the most sluggish in U.S. history, hampered by poor federal fiscal policy and a lack of middle-class jobs.

 

"There will be nobody in your lifetime who has ever see as tepid a recovery as we are in now," Niemi said, noting that at the current pace it could take another 10 or 15 years to be back to pre-recession levels when it comes to employment.

 

 

more...

 

[al.com]

 

 

 

 


 


Instagift to expand due to rapid business growth
 Yann Ranaivo 
Reporter-Birmingham Business Journal

Rapid growth in the number of new merchants has prompted Instagift to acquire additional space and make plans to double its staff next year.

I met with Instagift's director of business development Greg Wingo this week to discuss some of the latest deals the Birmingham-based digital gift card developer is offering. We also spoke about the firm's future growth plans.

 

"We're getting new merchants every day," Wingo said, adding that the firm has close to 100 local merchants and more than 5,000 national merchants.

 

more...

 

 

 


 

 "What's Working?" Shelby Co. touted for the best livable towns, education and jobs

Dec. 5, 2013

 

SHELBY COUNTY, AL -

Just south of Jefferson County and at times minutes from the busiest parts of Birmingham, you'll find Shelby County.  With a population of little more than 200,941, the county is fastest growing county, in terms of population,  in the state of Alabama.  The county seat is the City of Columbiana, known for it quiet and southern charm.

 

Pelham, Alabaster and Helena are just  a few  among many family-oriented communities that boast excellence school,  attractive recreations parks and  other public amenities  that have garnered national distinctions for being some of the best places to live.

 

On the job front, the Alabama Department of Labor August 2013 data lists the county's unemployment rate at 4.3% which is significantly lower than that state's non-seasonally adjusted rate of 6.7%.  From attracting and retaining a wide range of industries and major companies;  leaders in Shelby County are working together with locals and leaders of municipalities to attract more jobs, support  schools and promote an overall good quality of life that is attractive to families and companies.

 

more...

 

[www.alabamas13.com]

 

 

 

 

 

 


U.S. unemployment rate falls to 7 percent, lowest point in 5 years

on December 06, 2013 

The official U.S. unemployment rate fell to 7 percent in November, down from 7.3 percent in October, marking a new five-year low. 

Employers added 203,000 jobs over the last month, a higher pace than had been seen on average over the past two years. Construction and manufacturing saw substantial job growth, as did the retail trade industry. Employment in the financial activities industry fell slightly.

Out of a labor force of 155.3 million Americans, 10.9 million are officially unemployed as of November -- that is, those Americans do not have a job of any kind, despite the fact that they are actively seeking work. Americans with part-time jobs are considered employed, even if they want full-time work, while Americans not looking for work do not count against the unemployment rate, as they are not considered part of the labor force.
 

 

 more...

[al.com]

 

 

 

 

 

 


 

 TAX STRATEGIES FOR EXPORTERS

 

Please join us at the Birmingham Business Alliance next Wednesday, December 11, from 11:45am-2:15pm, to learn about Tax Strategies for Exporters: The IC-DISC.  This training is provided at no cost (rsvp required), and has been approved for 3 hours of CPE credit.

 

The Alabama International Trade Center, in conjunction with BBA and the Export Alabama Alliance, is pleased to sponsor an important educational workshop on the prolific tax benefits offered to exporters under the Internal Revenue Code's Interest Charge Domestic International Sales Corporation (IC-DISC) provisions. Exporting companies (C Corps & especially LLCs and S Corps) for many years have been allowed to establish an IC-DISC to in effect cut their tax rate on exports by at least 10 percentage points. Yet these export tax incentives provided in the tax law have often been overlooked by many qualified companies.

 

If you (or your client) are exporting U. S. products (min. 50% U. S. content) or providing U. S. based engineering or architectural services to international markets, you and/or your tax advisor should plan to attend this workshop in Birmingham on 12/11 or in Mobile on 12/18. This event is a must for executives and their accounting support staff at companies engaged in exporting. CPA's and Tax Advisors are encouraged to attend.

 

Space is limited; Please register today.  http://aitc.ua.edu/ic-disc

 

Alabama International Trade Center

The University of Alabama

 

 

 

 

 

 




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Val Walton
   
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