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:
Birmingham beats Huntsville, Nashville in bid to land Oxford Pharmaceuticals
Four questions with Alabama Power's Julia Segars
Alabama not just focused on growing manufacturing jobs
Key takeaways from the 2015 Economic Forecast panel
Economic development expert joins University of Alabama
Prospective entrepreneurs show off products to judges
PROJECTXYZ subsidiary buys BizTech building in Huntsville, plans to maintain startup incubator

 


Birmingham beats Huntsville, Nashville in bid to land Oxford Pharmaceuticals
Bryan Davis Reporter-Birmingham Business Journal
November 18, 2014

Birmingham beat out two Southeastern cities in its bid to land Oxford Pharmaceuticals.

The Oxford, England-based start-up, which will manufacture generic drugs, announced Tuesday it will make a $29 million capital investment in a new facility at Jefferson Metropolitan Lakeshore Industrial Park that will serve as the company's U.S. headquarters.

 

Oxford Pharmaceuticals President John Schultz said after the official announcement Tuesday Birmingham was chosen atop a short list that included Huntsville and Nashville. 

 

"There was a tremendous recruiting effort by the state, the county, the city and the different organizations," said Schultz after the Birmingham Business Alliance's annual Governor's Luncheon on Tuesday. "We did the research into the different areas and what the different areas have to offer, but in terms of an employment base, support, either with the Innovation Depot and the Universities that are available for help, those all factored into the decision."


more...


 


Four questions with Alabama Power's Julia Segars
Bryan Davis Reporter-Birmingham Business Journal
November 18, 2014

Four Counties in eastern Alabama have come together to form an economic development partnership.

One of those co

unties, St. Clair, is part of the Birmingham seven-county metropolitan area. St. Clair, as well as Clebourne, Calhoun and Talladega came together to form Core4 to better strengthen their chances to attract industry to the I-20 corridor.

 

Alabama Power Vice President, Eastern Division Julia Segars got the ball rolling on this initiative last year, holding a number of events promoting regionalism in economic development.

 

Segars recently responded to questions about the Core4 initiative and the importance of regional development.



more...

 


Alabama not just focused on growing manufacturing jobs
Bryan Davis Reporter-Birmingham Business Journal
Nov. 17, 2014

Alabama is looking to shake off the Great Recession, which led to over 150,000 lost jobs in the state.

 

Secretary of Commerce Greg Canfield said Friday during the CCIM/NAIOP Market Symposium the state has not recovered all of the 154,800 jobs lost during the economic downturn, but it is off to a good start.

 

"Alabama sustained more job loss than any similarly sized Southeastern state," Canfield said, comparing Alabama's job loss to Kentucky, Mississippi and Arkansas.

 

Since January 2011, Canfield said the state has recovered 98,400 of those lost jobs.



more....

 


Key takeaways from the 2015 Economic Forecast panel
Alan Alexander Reporter-Birmingham Business Journal
Nov. 18, 2014

Increasing manufacturing, collaboration among local governments, the congressional election and Birmingham's population growth and economic diversity were a few of the many topics discussed at the Birmingham Business Journal's 2015 Economic Forecast panel.

 

Panelists included Sam Addy, associate dean for research and outreach for the Culverhouse College of Business and Business Administration at the University of Alabama, Alex Leath, a partner withinBradley Arant Boult Cummings' economic development practice group, and Jeremy Thornton, associate professor of economics at Samford University.

 

The 2015 outlook on the state and national economy was positive and most of the risks to continued growth are external, Addy said, noting that the results of the recent congressional election will lead to a more stable economy moving forward into 2015.



more...

 


Economic development expert joins University of Alabama
Staff report
November 17, 2014 

The former director of the Alabama Development Office has been named the director of the Economic Development Academy at the University of Alabama.


Neal Wade's appointment is effective immediately, according to a Monday news release from UA.

 

"In the expanded responsibilities of the Office of the Vice President for Research and Economic Development, Mr. Wade joins an established economic development organization," said UA President Judy Bonner in the release.


more..

 


Prospective entrepreneurs show off products to judges

By Bernie Delinski Staff Writer | 

November 18, 2014

 

FLORENCE - Messages in bottles, a recycled automobile part looking for a new owner and even an image of Will Ferrell carved into an empty propane tank were on display Tuesday night.

 

But what truly left an impression on those at the inaugural Shoals Idea Audition were the creative business minds of local residents who dream of becoming entrepreneurs.

"I am blown away at the amount of talent in the area and the true entrepreneurial spirit that we have here," said Mary Marshall VanSant, vice president for Investor Relations and Public Policy for the Shoals Chamber of Commerce.

 

The chamber and University of North Alabama sponsored the event, which invited local residents who have business ideas to pitch them to a group of local business leaders. The winner received $5,000.

 

more...

 

[Times Daily]

 


PROJECTXYZ subsidiary buys BizTech building in Huntsville, plans to maintain startup incubator

on November 18, 2014 

HUNTSVILLE, Alabama - The building where BizTech operates a startup incubator in Cummings Research Park is now under new ownership.

 

Creekwater Investments, a subsidiary of Huntsville-based PROJECTXYZ, closed on the 20,832-square-foot facility Friday and will act as landlord to BizTech, the Women's Business Center of North Alabama and Rocket City Launch. PROJECTXYZ Chief Executive Officer Kimberly Lewis and company President Larry Lewis confirmed the deal Tuesday morning.

 

The office building, which is directly across from the University of Alabama in Huntsville and minutes from Redstone Arsenal, will continue to be an entrepreneurial center for the local startup community.

 

more....

[al.com]

 




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