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:
Tennessee medical device company to spend $6 million on new Florence operation
Chinese firm creates US jobs in rural Alabama
Alabama recovery council directs first $56 million to economic and infrastructure projects
2 Tuscaloosa companies among 2015 launchpad competitors
UAB's annual NIH funding up 20 percent
Commission meets with Bentley about using park as mega site
UA StartUp Finishes Second at International Innovation Conference

 


Tennessee medical device company to spend $6 million on new Florence operation

on December 17, 2014 

FLORENCE, Alabama - A Tennessee medical device manufacturer is expanding to the Shoals and creating 44 positions during the next five years, officials confirmed this afternoon.

 

Forrest Wright, president of the Shoals Economic Development Authority, said Elite-Medical is on track to open a new Florence operation early next year in Florence-Lauderdale Industrial Park. The formerly-vacant building on Helton Drive is undergoing renovations to produce orthopedic devices, Wright said.

 

Wright said the $6 million capital expansion, which has been in the works for a year, won't affect Elite-Medical's Bartlett, Tenn., operation.

 

 

more...

 

[al.com]

 

 

 


Chinese firm creates US jobs in rural Alabama

December 17, 2014

Time seemed to have forgotten Pine Hill, in the years since a timber scout first named it in the 1830s. But now, this town in the poorest part of this state is boasting 150 new jobs, with the promise of hundreds more from China.

 

Golden Dragon Copper makes copper tubing for heating and air conditioning units and has been selling to American customers for 10 years. It takes nearly the whole length of its production facility to stretch copper as thin as it needs.

 

A factory in the U.S. allows Golden Dragon to cut down it's transport time, from weeks, when it was transported from China, to just days, now that they are in Alabama.

 

"So we're closer to the source of copper and not too far away from the customers, generally within 1,000 miles," Keith Weil, Golden Dragon Copper's North American vice president, said.

 

more..

 

[CCTV]

 

 


 

Alabama recovery council directs first $56 million to economic and infrastructure projects

on December 17, 2014 

MOBILE, Alabama -- The Alabama Gulf Coast Recovery Council will direct the first round of oil spill penalties under its control toward economic and infrastructure projects, using money from the fines paid by Transocean, a cash amount that will reach $56 million by March 2015.  

 

There's about $44 million in the gulf restoration trust fund to date.

 

The body of local officials from Mobile and Baldwin counties also moved this week to clarify the process they will use to vet and select projects, formally announcing the Alabama Department of Conservation and Natural Resources as the adminstrator for the council.

 

more....

 

[al.com]

 


2 Tuscaloosa companies among 2015 launchpad competitors 

By Patrick Rupinski
Business Editor
 December 17, 2014 

Two early-stage companies from Tuscaloosa are among 11 such state companies selected for the 2015 Alabama Launchpad Start-Up Competition.

 

The competition, sponsored by the Economic Development Partnership of Alabama Foundation, will award up to $250,000 to the winning companies to further their business development.

 

The Tuscaloosa companies are:

 

more...

 

[Tuscaloosa News]

 

 

 

 



UAB's annual NIH funding up 20 percent
Alan Alexander Reporter-Birmingham Business Journal
Dec. 17, 2014

The University of Alabama at Birmingham received $225 million in federal research funding from the National Institutes of Health during the 2014 fiscal year, which places the school 10th in NIH funding among public universities.

That total is up 20 percent from last yearwhen UAB secured $188 million in NIH funding.

 

The UAB School of Medicine received $156.3 million in grants, followed by the School of Public Health at $28.9 million and the School of Dentistry at $11.7 million.


more....

 


Commission meets with Bentley about using park as mega site
Times Staff Writer
 December 16, 2014

If Gov. Robert Bentley wasn't aware of a potential location for a large new industry in Northeast Alabama, he is now.

 

Officials from Etowah and St. Clair counties met last week with the governor to pitch the Little Canoe Creek Industrial Park as a mega site.

 

The property is between Interstate 59 and U.S. Highway 11, about 4 miles from the Steele exit on I-59. The site will be accessible from Steele Station Road, I-59, U.S. Highway 11 and by rail. The Gadsden and Birmingham airports are nearby.


more...

[Gadsden Times]

 


UA StartUp Finishes Second at International Innovation Conference

Dec 16, 2014 

 

TUSCALOOSA, Ala. - A University of Alabama-based startup company that specializes in biodegradable medical implants recently placed second at the International Innovation in Materials Science Competition in Boston, Mass.

 

Surface Integrity LLC, which has a patent pending for controlling the degradation of magnesium orthopedic implants, survived two rounds of elimination and was one of 26 finalists from six countries selected to demonstrate inventions.

 

The International Innovation in Materials Science Competition, known as iMatSci, provides a demonstration platform for technology providers across all science, technology, engineering and mathematics departments at universities and startups to demonstrate their newest materials-focused technologies in practical applications.

 

 



more....




Please feel free to forward along to someone who can use it by clicking on the "forward email" link below. 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.

Follow us on Twitter
 
Enjoy the day, 

Val Walton
   
Join Our Mailing List