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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:
Forbes ranks Birmingham-Hoover in Top 10 of 'new industrial boomtowns'
Watch principals with Mobile startup, among 10 statewide vying for share of $300K Alabama Launchpad, explain what they do
Creating jobs to be focal point of new Business Development Center
Mercedes-Benz plans significant boost in Alabama auto output
Brookings: 14K in Birmingham employed by foreign companies
Alabama's May Unemployment Rate is 6.8%

 


Forbes ranks Birmingham-Hoover in Top 10 of 'new industrial boomtowns'


BIRMINGHAM, Alabama - Birmingham is among the Top 10 cities leading a new industrial revival in the U.S., according to a Forbes ranking.

 

The popular business magazine and website ranks the Birmingham-Hoover metro area sixth among large cities experiencing a manufacturing boom.


Birmingham's manufacturing employment growth last year is what helped land it on the Forbes list. In the rankings, noted economic journalist Joel Kotkin pointed to the metro area's 38,900 manufacturing jobs in 2013 as being 3.4 percent higher than the previous year. That recent growth was in spite of a 3.8 percent loss of jobs between 2008 and 2013.

 

Rick Davis, head of economic development at theBirmingham Business Alliance, said the Forbes ranking confirms what officials here have recognized.

 

more ....

 

[al.com]

 

 


 

 

Watch principals with Mobile startup, among 10 statewide vying for share of $300K Alabama Launchpad funding, explain what they do
on June 19, 2014
 

MOBILE, Alabama - Researchers with a Mobile startup affiliated with the University of South Alabama hope to shine a new a new light on cancer detection - among other applications - and are hopeful a little state-sponsored pre-seed money could be headed their way.

 

SpectraCyte was one of 10 teams selected by the Economic Development Partnership of Alabama Foundation Thursday to compete in the latest round of the Alabama Launchpad Start-Up Competition for a share of as much as $300,000.

 

The Mobile-based team is developing a high-speed, low-cost spectral imaging system for research microscopy and clinical endoscopy. The goal, according to team leader Silas Leavesley, is to use novel spectral technologies to detect differences in the abundancies of biomolecules associated with diseases such as colon cancer.

 

 more...

 

[al.com]

 

 


Creating jobs to be focal point of new Business Development Center

By Matt Cole

June 19, 2014


The Marengo County Business Development Center in Linden has already started helping new businesses even though it isn't quite ready for them to move in.

 

Center Director Brenda Tuck said when she arrived in Marengo County in April 2012, she received a call that the National Guard Armory in Linden was closing.

 

"When an armory closes, it either goes to the city its in or the county its in," she said. "When I came to the county with the idea for a business incubator, they were very interested in acquiring it."

 

Tuck partnered with Kathryn Friday, the director of the Marengo County Cooperative Extension Office, to share resources and costs to get the center going.

 

 more...

 

[The Demopolis Times]


 

 

 

 


 Mercedes-Benz plans significant boost in Alabama auto output

on June 20, 2014 

German automaker Mercedes-Benz plans a major hike in the production capacity of its Alabama plant, which last year turned out about 185,000 vehicles.

 

Reuters reported the news from Germany, saying the move follows rising car sales in the U.S., to levels seen before the world financial crisis of 2007.

 

It also follows this week's official production launch of the C-Class at the Tuscaloosa County factory. It is the first sedan produced by the plant, which had previously built only SUVs and crossovers.

 

 

more...

[al.com]

 

 

 

 


 


Brookings: 14K in Birmingham employed by foreign companies
 Jason Frost Editorial intern-Birmingham Business Journal
Jun 20, 2014

The Birmingham-Hoover area saw a 3.4 percent jump in employment by foreign-owned businesses, according to a new Brookings Institution report on jobs and foreign investment.

 

Birmingham had 13,949 jobs filled in foreign-owned establishments in 2011, which represented a 3.4 percent share of total private employment in foreign owned companies - up from 2.7 percent in 1991. Of these jobs, 42.7 percent were in goods-related fields, while 57.3 percent were in the service sector.

 

The Brookings Institute report released today looks at the geographical distribution of jobs in foreign-owned establishments (FOEs) and their financial direct investment (FDI) in metro areas, charting how much direct investment foreign companies have invested in local business.



more....

 

 

 


 

Alabama's May Unemployment Rate is 6.8%

MONTGOMERY - Governor Robert Bentley on Friday announced Alabama's preliminary seasonally adjusted May unemployment rate is 6.8%, down from April's rate of 6.9%.  May's rate represents 147,068 unemployed persons, compared to 147,229 in April and 138,432 in May 2013.

 

"My goal is for every Alabamian who wants a job to have the opportunity to find a job, and we are heading in the right direction," Governor Robert Bentley said. "Each month since I have been Governor, the number of jobs has increased when compared to the same month one year earlier, and initial unemployment claims continue to be the lowest in five years. While we still have a long way to go before Alabama is at full employment, we are making progress."

 

Wage and salary employment increased in May by 4,700, rising to 1,925,000.  Monthly gains were seen in the leisure and hospitality sector (+2,200), the manufacturing sector (+1,700), the professional and business services sector (+1,200), the government sector (+500), and the construction sector (+200), among others.  Over the year, wage and salary employment increased 12,200, with gains in the leisure and hospitality sector (+4,600), the professional and business services sector (+3,700), the manufacturing sector (+2,900), and the education and health services sector (+1,900), among others.



more...

 

 




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