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:
Airbus plans to start first U.S. factory with larger A321 jet
Remington Outdoor seeks north Alabama suppliers for upcoming Industry Day
Experts: State must shift focus to end unemployment
Standard & Poor's affirms A-rating for Alabama State Port Authority
BL Harbert International awarded $33 million Army Corps of Engineers contract

 


Airbus plans to start first U.S. factory with larger A321 jet

Oct. 28, 2014

 

(Reuters) - Airbus Group (AIR.PA) said on Tuesday it plans to start production at its first U.S. factory with the larger A321 jetliner instead of the A320 as originally planned, a move that reflects rising demand for the bigger jet.

 

Airbus Americas President Barry Eccleston told an audience in Seattle that the European aircraft maker was switching the plans for the plant in Mobile, Alabama, to accommodate growth in orders for the larger plane.

 

The first one off the line will be the A321ceo, or "current engine option" in April 2016, with "new engine option" or A321neos, to follow later, he said, according to the company.

 

more...

 

[Reuters]


 


Remington Outdoor seeks north Alabama suppliers for upcoming Industry Day 
on October 29, 2014

HUNTSVILLE, Alabama - North Alabama businesses are invited to apply to participate in an upcoming Industry Day event hosted by Remington Outdoor Co. in Huntsville.

 

Few details are known at this time about the event, but Remington will begin meetings with applicants Nov. 13 at its $110 million facility in Jetplex Industrial Park. Companies interested in attending Industry Day should fill out an online form by 5 p.m. CST Nov. 4.

 

Remington is seeking suppliers that offer the following services and products: CNC lathes, multi-axis machining, precision machining, plating/finishing/coating, light assembly (small businesses only), packaging, fasteners, and/or raw materials (steel, lead, brass, resin, etc.).


more....




 

  


Experts: State must shift focus to end unemployment

Brad Harper, Montgomery Advertiser
October 28, 2014

That was the message Tuesday at a summit focused on the vast number of enterprises with five or fewer employees. These "microbusinesses" make up about 88 percent of all businesses in the state, said one of the event's organizers.

 

"If you're an attorney and you have a paralegal and a receptionist, that's a microbusiness," said Gaynell Jackson, president of the Alabama MicroEnterprise Network. "If there's a grocery store that has two clerks, that's a microbusiness. You see them every day.

"That's the group that's going to change the economic structure."

 

more...

 

[Montgomery Advertiser]

 

 

  


 

 Standard & Poor's affirms A-rating for Alabama State Port Authority

 

 

MOBILE, AL - October 29, 2014 - Standard & Poor's affirmed its "A-' rating for the Alabama State Port Authority's (ASPA) outstanding dock facilities revenue bonds. The rating agency's endorsement recognized the Port Authority's diversification of revenue sources in recent years, increasing cargo trends, and strong financial margins. "We're very pleased that Standard & Poor's has recognized the substantial improvements in the port's financial position," said James K. Lyons, director and chief executive for the Port Authority. 

 

Standard & Poor's rating reflects the Port Authority's success in diversifying the Authority's revenue stream, its increased debt service coverage and cash flow coverage, and the Port's limited competition from other U.S. Gulf Ports and strong niche position in the coal trade.  Standard & Poor's stable outlook reflects the Alabama State Port Authority's increased financial margins and low liquidity levels.   "Our management team has been highly focused on securing new business streams and alternative forms of financing our capital programs short of entering the bond market," Lyons stated.  "This strategy has met our objectives to modernize terminals and expand our services, service our debt, and maintain a strong cash position."

 

 

 

  


 

BL Harbert International awarded $33 million Army Corps of Engineers contract
Bryan Davis Reporter-Birmingham Business Journal
Oct 28, 2014
 

Birmingham-based BL Harbert International has been tapped to build a new facility for the Army Corps of Engineers in South Korea.

 

BL Harbert was awarded the $33.3 million contract to construct a 14,500-square-foot secure facility for the Army Corps of Engineers, Far East District in Camp Humphreys, South Korea.

 

"Our company looks forward to the successful completion of this important project, and to forging a strong relationship with the U.S. Army Corps of Engineers' Far East District," said Chuck Bohn, international group president for BL Harbert International in a release.

 

more...

 

[Birmingham Business Journal]

 

 




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