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:


Alabama Launchpad Innovation Awards nomination deadline looms

BIRMINGHAM, Alabama - Nominations are open for the 2015 Alabama Launchpad Innovation Awards, which recognize significant contributions to the state's innovation economy.


Alabama Launchpad, a program of the Economic Development Partnership of Alabama, will accept nominations through May 17 for the annual awards.


Winners will be honored at the Fifth Annual Alabama Launchpad Innovation and Entrepreneurship Conference Sept. 2 in Birmingham.





Steel plate fabricator Blastech plans $4.5M expansion in Axis; payroll to more than double
on May 05, 2015

Steel plate fabricator Blastech Mobile LLC plans to build a new 21,000-square-foot facility on its existing Axis site, initiating a two-year expansion plan expected to more than double current employment from 57 to 133.


The $4.5 million project was granted a 10-year tax abatement totaling $356,150 recently by the Industrial Development Authority of Mobile County. Dunn Building Co. is the general contractor for the project. 


Troy Wayman, the Mobile Area Chamber of Commerce's vice president of economic development, said the 76 jobs created are expected to pay an average of about $41,000 annually.







Study: FDI projects continue to gain traction in Alabama
Digital Producer-Birmingham Business Journal
May 5, 2015

Foreign companies continue to bring jobs and employ workers in Alabama, and the most recent data shows this concept could be on the upswing.


Foreign Direct Investment, or FDI, projects have been a staple in the state economy in the last decade, primarily in the automotive components sector, which made up 35 percent of FDI projects in Alabama from 2003 to January 2015, according to data from the U.S. Bureau of Economic Analysis.


The role of FDI in the state economy is reflected in the number of workers employed by these majority-owned, U.S. affiliates of foreign companies. Currently, these firms employ 86,600 workers in Alabama



Meet north Alabama startups Thursday during Rocket Hatch's first 2015 Sip+Hatch
on May 06, 2015 

More than 100 artists, innovators and entrepreneurs across north Alabama will reunite Thursday during the first Sip+Hatch gathering of 2015 in Huntsville.


The events, which attracted more than 400 attendees last year, were started in 2014 by Rocket Hatch, a year-old organization that supports a thriving startup community in Huntsville/Madison County. Sip+Hatch began last summer at The Nook to allow entrepreneurs to network in a "casual setting."


This week's meetup will take place from 5:30-8 p.m. at the Davidson Center at the U.S. Space & Rocket Center off Interstate 565. 



Birmingham reports measurable economic momentum
Michael Tomberlin

Birmingham's employment is nearing levels prior to the Great Recession that began in 2007, the Birmingham Business Alliance (BBA) revealed.


Brian Hilson, chief executive of the BBA, delivered the organization's "2015 Regional Economic Growth Report," which he said measures both the seven-county region's economic health and BBA's own accountability to the businesses and governments that support the nonprofit group.


In 2014, the Birmingham area added 3,011 jobs and $370 million in capital investment from new and expanding industries. Hilson said a closer look at the numbers puts them in greater context.




 Alabama Automotive Manufacturers Association will hold a Risk Management Seminar in June 


The AAMA seminar is scheduled for Thursday, June 18, from 10 a.m. to 2 p.m. at The Club, 1 Roberts Smith Drive, Birmingham.


Topics include:

  • Risk  Analysis & Evaluation
  • Risk Control & Mitigation
  • Transferring Risk Through Insurance
  • Available Tax Credits

For more information and to register, please click here .




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