EDPA NewsFlash


home       about edpa        relocation     resources for     resources for     entrepreneurship &
                                          assistance     companies        communities            technology    



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:
Precision High Voltage opens $4 million Birmingham facility
Limestone, Morgan officials say landing Remington a 'regional effort;' impact outside Madison County
$200,000 awarded to Good Hope for job creation, development
HSAA makes big jobs announcement for Enterprise plant
Shelby talks job creation, advises against over-regulation
Auburn receives three industrial development grants
Kirchner Board to be chaired by former President of largest independent investment bank in Canada


Precision High Voltage opens $4 million Birmingham facility
on February 19, 2014 

BIRMINGHAM, Alabama -Precision High Voltage Systems has opened its new $4 million manufacturing and testing facility in Birmingham, expected to create up to 20 jobs, the Birmingham Business Alliance announced today.


Precision High Voltage Systems, a division of Birmingham-based Jay Electric Co., manufactures formed coils for high voltage machinery used for industrial uses. The 15,000-square-foot facility at 3130 Third Ave. South in Birmingham is the former Mill & Textile Supply building.


The development also includes a testing facility for onsite quality testing of its products.


"The combination of the adapted facility and the latest technology in our production equipment gives Precision High Voltage the ability to be a leading U.S. producer of high voltage coils," Chad McCowan, chief operating officer of Jay Electric, said in a release. "We are very excited about this opportunity."




 Limestone, Morgan officials say landing Remington a 'regional effort;' impact outside Madison County is 'huge'

on February 19, 2014 

Area officials say Remington Arms adding a manufacturing plant in Huntsville will have a major impact on the economy of outlying communities, including Limestone and Morgan counties.

"It's huge for the whole area and we're glad to be a part of it," said Ray Long, chairman of the Morgan County Commission.


Gov. Robert Bentley announced Monday the company will expand into the former Continental Automotive Systems plant near Huntsville International Airport, creating about 2,000 jobs in 10 years.


Many of those jobs will be held by residents in nearby Limestone and Morgan counties, officials say. The influx of jobs brings hope to a region hit hard by the closing this year of International Paper in Courtland, said U.S. Rep. Mo Brooks, R-Huntsville.









$200,000 awarded to Good Hope for job creation, development
By Robyn Sirmans 
CULLMAN COUNTY, AL -The city of Good Hope is looking to complete some much needed citywide projects while creating jobs in the area.

The Alabama Department of Economic and Community Affairs has awarded Good Hope a $200,000 Community Development Block Grant.

State Representative Mac Buttram (R - Cullman) said the money will be used for various ongoing economic development projects.

"Since coming to Montgomery just a few years ago, creating jobs and new opportunities for the citizens of Cullman County has been among my top goals, and I am happy that this grant will assist in those efforts," Buttram said.  "The director and staff at ADECA have always had an open door for me, and I have utilized that access every chance possible. This grant will help provide jobs to those who need them, and I deeply appreciate the support that the state is providing."







HSAA makes big jobs announcement for Enterprise plant 

By Kyle Mooty

Feb. 19, 2014


In what had originally been a planned ribbon-cutting ceremony for HS Automotive Alabama as the Enterprise plant was ready to welcome 100 new jobs, the South Korean company made an even bigger announcement for the Wiregrass area with plans for at least 200 more jobs and an addition to the just completed facility.


Construction is expected to begin immediately on the automotive weather stripping plant that will eventually bring HSAA's total employees in Enterprise to about 600.


HSAA has contracts with Hyundai, Kia, Chrysler, General Motors and Mitsubishi. The Enterprise location manufactures brake hoses and air conditioner hoses. The new facility will include robotic assembly and a warehouse. The new addition was 117,000 square feet, but the new facility will be attached to it with an additional 50,000 square feet.




[Dothan Eagle]




Shelby talks job creation, advises against over-regulation

By Robert Hudson

Feb. 19, 2014


United States Sen. Richard Shelby stopped in Tallapoosa County Wednesday as a part of his annual statewide jobs and industry tour.


Each year Shelby travels to every county in the state, and Wednesday's stop took him to SL Alabama's plant in Alexander City.


"I thought that this year I would target businesses and visit a business in every county in the state," Shelby said. "I visit different business - small, large and medium, making different products - and ask them what are their problems and how can I help them. At the end of the day, we're talking about job creation for all of our citizens."

Shelby's visit included a tour of the SL Alabama plant.


Jack Coltrain, plant manager at SL Alabama, said the tour displayed the products of SL Alabama as Shelby extended his support.



[Alex. City Outlook]



Auburn receives three industrial development grants

Special to the News

February 19, 2014


The city of Auburn has received three industrial development grants from the State Industrial Development Authority.


Alabama House Speaker Mike Hubbard (R-Auburn) announced the grants Wednesday in a press release.


"My main focus as the State Representative for House District 79 has been creating jobs, recruiting industry, and growing the economy," said Hubbard. "Auburn is blessed to have incredible leadership on all levels of government and working together we will continue to have great success in attracting new industries and expanding existing ones. The selection of three Auburn projects proves that our efforts are working and are recognized across the state."




[Opelika-Auburn News]





Kirchner Board to be chaired by former President of largest independent investment bank in Canada

Birmingham, Alabama and Toronto, Ontario February 20 2014 - Kirchner Group today announced that Mark Maybank has joined Kirchner Group as the Executive Chairman of the Advisory Board. In this active role, Maybank will Chair the newly formed board whose mission is to further develop the platform by expanding the advisory, operational and asset management services provided by the group. Maybank brings to the Kirchner Group a wealth of experience as both a leader of an investment bank and also as an entrepreneur. 

 "Mark brings an unparalleled amount of directly relevant knowledge and experience to our group so we are very excited for him to become the first Executive Chairman of the Advisory Board" stated W.B. (Bud) Kirchner, Founder and CEO of Kirchner Group.
 "Our platform, people, brand, and track record are growing rapidly and require the leadership of someone of Mark's experience. With the Board chaired by Mark's energy and ambition, I am confident that the Board will play an active role in assisting our management in strengthening, building, and growing our platform as well as taking full advantage of the myriad growth opportunities we face today."

Maybank was recently the President and COO of Canaccord Genuity Corp. a global, full-service investment bank focused on growth companies, with operations in 11 countries worldwide. Maybank also served as the Chief Operating Officer and Director of Canaccord Financial Inc, the publicly-traded parent company.  Maybank also worked in various other capacities with Canaccord companies including Deputy Global Head of Capital Markets, Director of Canaccord's US and UK regulated subsidiaries and Executive VP, Managing Director, and Global Head of Research. Maybank is currently an active investor, entrepreneur, director and advisor.

"I am very proud to be named the Executive Chairman of Kirchner Group's Advisory Board. This is an exciting time for the Kirchner Group, and they have significant growth before them - I'm eager to contribute, partner and build all aspects of the business: advisory, operational and asset management services" added Maybank. "The professional and personal interactions I have had with Bud and his team so far have illustrated how aligned our values are and consequently what a strong cultural fit this is. I look forward to leveraging this unique platform through my existing and new relationships, as well as growing it to its full potential."

Kirchner Group
The Kirchner Group has provided traditional merchant banking services since 1985. The Company provides advisory, operational and transactional support to companies as well as asset management services for institutional investors. Kirchner Group's proprietary platform is built on the premise that pairing deep domain expertise with process experts provides superior results. Our clients and partners range from promising entrepreneurs to Fortune 500 companies and their investors. Kirchner Group also manages assets for some of the largest insurance companies, commercial banks and institutional investors in the world. www.kirchnergroup.com


Please feel free to forward along to someone who can use it by clicking on the "I'd like to forward this to a contact" link below the green bar. Note also, that you can now make changes to your e-mail address and contact information through the link at the bottom.    
If you have news or suggestions, please forward them along to me.
Enjoy the day, 

Val Walton
Join Our Mailing List