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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:
Japanese parts supplier Toyota Boshoku will build parts for Mercedes
NASA's Marshall Space Center Considers its Past, Present, and Future
Huntsville-based Torch Technologies wins $70 million engineering support contract
Brock School of Business' students to get a first-hand look at angel investing
Airbus' Allan McArtor gets bird's-eye view of A320 final assembly line in Mobile
Which 9 Alabama attractions are among the South's most unique group adventures?

 


 Japanese parts supplier Toyota Boshoku will build parts for Mercedes 

By Patrick Rupinski
Business Editor
April 16, 2014 

VANCE | A Japanese automotive supplier is the latest company to join Tuscaloosa County's growing automotive industry.

 

Toyota Boshoku America announced that it will open a new production facility next year in an industrial park near Mercedes-Benz U.S. International in Vance. The company will make parts for a new model that Mercedes-Benz will add to its production lineup in Vance in 2015.

 

That new model has not been unveiled but has been described by Mercedes executives as a smaller, sportier sports utility vehicle. It will be the fifth model to be produced at MBUSI.

 

Shigetoshi Miyoshi, chairman of Toyota Boshoku America Inc., said his company will make an interior component for the new Mercedes model and that the plant will have 36 highly skilled employees.


more...

 

[Tuscaloosa News]


 

 

 

 

 


NASA's Marshall Space Center Considers its Past, Present, and Future


Thursday marks an annual event AT NASA'S Marshall Space Flight Center in Huntsville.  It's the so-called "Marshall 2014 Update."  Marshall Center Director Patrick Scheuermann will speak about the future of the center and its strong relationship with Alabama.  He'll also talk about the progression from the early Apollo rockets to the Space Shuttle to where we are now.

 

Patrick Scheuermann: "What we've embarked upon now is the next great ship that'll take us even further into the oceans of space, and that's the Space Launch System, an incredibly powerful rocket.  The most powerful rocket that will ever be built.  Even more powerful than the Apollo rocket. 

 

 And the purpose will be primarily to get us beyond lower Earth orbit.  These rockets are taller than the Statue of Liberty.  And if you can imagine putting rocket engines on the bottom of these big buildings and launching them into space, it's an incredible thing to see."

 

Scheuermann also plans to talk about the importance of science, technology, engineering, and math, or STEM fields.  Marshall is the 3rd largest employer in the Huntsville metro area with around 6,000 employees and contract workers.  It's responsible for around 20,000 jobs across the state of Alabama.  8700 are involved in work on the new SLS rocket.

 
more...

 


 Huntsville-based Torch Technologies wins $70 million engineering support contract

on April 16, 2014 

HUNTSVILLE, Alabama - Torch Technologies in Huntsville has won a $70 million Engineering Support Division Technical Support task order, the company announced today.

 

The task order, which was awarded on Torch's AMCOM Express Blanket Purchase Agreement and is managed by the Aviation and Missile Research Development and Engineering Center (AMRDEC) Engineering Directorate's Engineering Support Division on Redstone Arsenal, is valued at $70,925,491.

 

"Torch and our team members are privileged with the opportunity to support the Engineering Support Division's important mission keeping our soldiers' equipment safe, ready and effective," Torch Chief Executive Officer Bill Roark said in a news release.


more...

 

[al.com]


 

 


 

Brock School of Business' students to get a first-hand look at angel investing 
 Antrenise Cole Reporter-Birmingham Business Journal

Samford University's Brock School of Business has joined the Central Alabama Angel Network, a Birmingham-based investor network that invests in early stage companies, so its students can learn more about the process of raising capital to start a business.

 

Students will have the opportunity to attend monthly meetings to see how entrepreneurs pitch their businesses and how CAAN reviews its current investments, which range from $250,000 to $2 million per company.

 

"This membership will provide our students with opportunities to witness first-hand how entrepreneurs raise equity financing soon after starting their new companies," said Rusty Yerkes, assistant professor of finance at the Brock School of Business. "Angels must be 'accredited investors,' with $1 million net worth or annual household incomes above $300,000, and because of our CAAN membership, our students now have access to see how this important funding source works."


more...

 

[Birmingham Business Journal]

 

 


Airbus' Allan McArtor gets bird's-eye view of A320 final assembly line in Mobile

on April 16, 2014

MOBILE, Alabama - The Airbus A320 final assembly line under construction at Mobile Aeroplex at Brookley enjoyed a special visitor Wednesday.

 

Allan McArtor, chairman and chief executive officer of Airbus Group Inc., toured the facility with officials from Hoar Program Management for a firsthand look at the $600 million project's progress.

 

 Pictured above (from left to right) are James Adams, HPM Gulf Coast group leader; McArtor; Jared Scheeter, HPM senior project manager; and Mike McKenney, HPM Gulf Coast regional field coordinator.

 

more...

 

[al.com]

 

 


Which 9 Alabama attractions are among the South's most unique group adventures?

on April 17, 2014

Nine attractions across the state of Alabama were recently named to ConventionSouth magazine's annual most-unique group adventures list. 

 

ConventionSouth, a U.S. multimedia resource for event planning, reviewed hundreds of destinations while compiling the list, which features 99 attractions across 16 states in the South and the Caribbean Sea region.  

 

The following places in Alabama were featured in the ranking:

 

* 5 Rivers - Alabama Delta Resource Center, Spanish Fort

 

* Barber Vintage Motorsports Museum, Birmingham

 

* Bellingrath Gardens and Home, Theodore 

 

more...

 

[al.com]

 

 




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Val Walton
   
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