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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.
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Long-time local manufacturer Metal Research, Inc. to expand in Guntersville
JULY 7, 2015
GUNTERSVILLE, Ala. - Metal Research Inc. will be a new tenant in Conners Island Business Park in Guntersville. The new expansion will cost $2 million.
The long-time local manufacturer was founded in 1964 in the city's original industrial park at Signal Point. The new expansion is needed to support the growth of the aerospace industry. According to the company president, Sam Wolford, the Conners Island expansion will add high tech manufacturing equipment and capacity to enhance the existing operations.
"Our company was established as a precision machining business with a primary focus on aerospace," Wolford said. "Today our growth continues to expand, especially with Boeing. While the technology has changed our consistent commitment to quality has been critical to success."
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Bayer CropScience, Evonik Corp. investing more than $200M in Mobile co-location project slated for 2017 completion
More than two years of speculation end today with Bayer CropScience's confirmation it will invest more than $200 million in partnership with Evonik Corp. to construct two chemical manufacturing units in Mobile.
The facilities, which will be situated at the Evonik manufacturing facility in Mobile County's Theodore Industrial Park with each company taking responsibility for construction of one of the units, will produce precursor materials for use in the production of Liberty herbicide, a key component in Bayer's LibertyLink weed management technology.
The units, intended to assist Monheim, Germany-based Bayer double its Liberty herbicide production capacity, are slated to enter production in mid-2017, and employ a combined 50 personnel with average annual salaries of $75,000. The new hires will actually be classified as Evonik employees per the co-location arrangement.
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[al.com]
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Opelika council approves tax abatement for Cumberland Plastic Systems
July 7, 2015
Opelika City Council members voted unanimously Tuesday to grant two tax abatements for a manufacturing company, Cumberland Plastic Systems, which is expected to invest over $9 million in its Opelika start-up, including a major restoration of the Benteler building on Northpark Drive, and plans to create 121 jobs over three years.
Tax abatements approved by the city include all state and local non-educational property taxes for 10 years and complete exemption for non-educational city ad valorem taxes for 15 years.
Cumberland, which will lease the vacant Benteler building from Spartan Partners, plans to make numerous modifications to the facility and will acquire and install new equipment and machinery - a process set to begin Dec. 31, which is expected to create an influx of local employment.
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Athens company gets $400,000 grant, adding new production jobs
A 36-year-old engineering and manufacturing company that makes cast-aluminum products for firefighting, police, medical, trucking and marine vehicles is the recipient of a new $400,000 grant from the U.S. Department of Housing and Urban Development.
Cast Products of Athens will add 10 production jobs to its 115-person workforce as a result of the grant, which will allow the business to move from a private septic to the city sewer system. Athens is awarding $100,000 in matching funds toward the project.
Cast Products Chief Operating Officer Colby Medlen expects the sewer system work will be complete in September.
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