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:

 


 

New facility keeps HomTex at home


After three years of trying to find a new facility, Homtex, a homegrown company and major manufacturer of sheets, will be staying in Cullman County and adding additional jobs.


 

With 105 employees at stake, HomTex chief executive officer Jerry Wootten said at a press conference today at Cullman City Hall, attended by Gov. Robert Bentley and a host of local officials, that the $4 million investment at the former Nicholson File/Apex Tools building would preserve those jobs and open the door to adding 30 to 40 more positions.


 

Editor's Note: The City of Cullman approved a $3.85 million tax abatement for HomTex, Inc. for the renovation of a vacant facility and to purchase new equipment. The Cullman County Commission confirmed the tax incentive Tuesday.


 

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BBVA Compass is looking for the next great small biz idea
Michael Seale Reporter -Birmingham Business Journal
May 1, 2015

BBVA Compass is launching a contest for potential entrepreneurs with a good business idea.

 

The bank has launched Great Ideas for Small Business, which award a total of $20,000 to winners.

 

Small business owners and entrepreneurs can submit their ideas using the #GIFSBcontest hashtag on Twitter and Instagram or by uploading their photos and short descriptions of their ideas to the contest website.



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Indy races shift into new gear

Michael Tomberlin

 

Last weekend's Honda Indy Grand Prix of Alabama proved again that open-wheel racing prompts visitors to open their wallets, boosting the Birmingham area economy by an estimated $33 million.

 

More than 75,000 fans came to Barber Motorsports Park April 24-26, a slight increase over 2014.

 

"We sold tickets in 48 states and five countries," said Gene Hallman, CEO of Bruno Event Team, whose Zoom Motorsports handles marketing and management for Barber Motorsports Park. "The economic impact of the race was carefully estimated by the Greater Birmingham Convention & Visitors Bureau at $33 million. The race is used by Honda, our title sponsor, to highlight the great work that is being done by Alabamians in Lincoln."

 

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TW Metals - owned by Birmingham's O'Neal Industries - gets federal contract for Southeast

on April 30, 2015 
  

A Pennsylvania metals distributor owned by O'Neal Industries of Birmingham has been awarded a lucrative new five-year federal contract as a Metals Prime Vendor forDefense Logistics Agency (DLA)Troop Support.

 

The Government Business Unit of TW Metals in Exton, Pa., will provide a variety of products -- pipe and tube, bar and rods, wire, sheet, plate, valves and fittings -- to defense-related customers in an eight-state Southeast region, according to a recent news release from the firm.

 

The firm's projected revenue could exceed $20 million annually, with a maximum of $40 million.

 

more...

 

[al.com]

 


 

Monroeville/Monroe County Chamber of Commerce To Host Small Business Appreciation Breakfast on May 5

 

Small businesses are the backbone of the community.  This is why the U. S. Small Business Administration hosts an annual National Small Business Week.  This year's theme is "Dream Big, Start Small." 


 

The Monroeville/Monroe County Chamber of Commerce, with this theme in mind,  will recognize its small business community with an appreciation breakfast on Tuesday, May 5th, beginning at 7:30 a.m. at the Water Tower Conference Center. 


 

 Guest Speaker is Neal Wade, Director of the University of Alabama Economic Development Academy, who grew up in Monroeville and whose father managed a small business on Monroeville's downtown square.  Wade has over twenty-five years of economic development experience at the private, state and local levels. 


 

For more information, please click here

 

 

 

 

 



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