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:



EDPA elects five business and industry leaders to board of directors
Ryan Phillips Digital Producer-Birmingham Business Journal
March 11, 2015

The Economic Development Partnership of Alabama on Tuesday announced it has elected five new members to its board of directors.


The new leadership for EDPA includes five business and industry leaders from around the state, according to a release from EDPA. Three of the leaders come from the automotive sector, showing the role that automotive manufacturing plays in Alabama.


"EDPA is fortunate to have the expertise of these executives and automotive leaders as we continue to represent the private sector's interest in bringing jobs and investment to the state," EDPA President Bill Taylor said in a written statement.




[Birmingham Business Journal






3 economic incentives bills pass House

By Mary Sell | Montgomery Bureau 

 March 10, 2015 


MONTGOMERY - The Alabama House on Tuesday passed a trio of bills related to the economic incentives given to new and expanding businesses in the state.


House Bill 58, the "Alabama Jobs Act" sponsored by Rep. Alan Baker, R-Brewton, allows a company creating new jobs to receive a credit equal to 3 percent of its previous year's paid wages to new employees and a credit of 1.5 percent on capital investments. Both credits would be good for 10 years.


Supporters of the legislation said it rewards companies for new jobs only after they've been created and does not require the state to put up as much money up front.

"The old way (of offering incentives) was based on a capital credit," Baker said on the House floor. "This is pay-as-you-go."






Nominations Open 
March 30 for the 2015 Alabama Launchpad Innovation Awards



The Alabama Launchpad Innovation Awards celebrate and honor contributions to Alabama's innovation economy.


Nominations in five categories will be accepted March 30 through May 17. The categories are:

  • Corporate Innovator of the Year (small)
  • Corporate Innovator of the Year (large)
  • Outstanding Achievement in Innovative Manufacturing
  • Outstanding Innovative Public Private Partnership
  • Lifetime Achievement in Innovation

 Companies should demonstrate significant achievement specifically in the areas of job creation, commitment to innovation, and innovation that addresses a local or global need.


Have an idea of a company or person to submit? Click here to preview the nomination process.


All winners will be recognized at the 5th Annual Alabama Launchpad Innovation and Entrepreneurship Conference on Sept. 2 in Birmingham.


Click here to learn about the 2014 winners.


2014 Alabama Launchpad Innovation Award Winners






Alagasco names new president 
Ty West Managing editor-Birmingham Business Journal
March 11, 2015

An Alagasco veteran will succeed Dudley Reynolds as president of the natural gas provider.


Ken Smith, who has 34 years of experience and has been an officer at Alagasco for 17 years, will become president after Reynolds retires at the end of March.


Smith currently serves as vice president of system integrity for Alagasco, but has served in a number of other leadership roles since joining the company after graduating from Auburn University.




[Birmingham Business Journal]







SBA to offer Emerging Leaders Initiative in Birmingham in April

BIRMINGHAM, Alabama - The U.S. Small Business Administration is launching an intensive executive-level training series next month in Birmingham that's designed to accelerate the growth of high-potential small business enterprises.


This is the first time SBA has held its free Emerging Leaders Initiative in Alabama's largest city, but more than 2,400 small businesses across the nation have participated and benefited from the program. These participants have gone on to secure more than $1 billion in federal, state, local and tribal contracts, while also accessing over $73 million in new financing, according to SBA.


The course gives participants the opportunity to work with experienced mentors, attend specialized workshops, and develop connections with other entrepreneurs, city officials and contacts in the financial community.










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Val Walton
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