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.
American Steel Pipe, a division ofAmerican Cast Iron Pipe Co., has completed its new 150,000-square-foot steel pipe processing facility.
The $70 million project, which is the length of three football fields, doubles American's processing capacity to 700,000 net tons. The facility manufactures electric-resistance-welded steel pipe.
"It is two times the size, two times the capacity and much more," said Jon Noland, division sales manager for American Steel Pipe. "This expansion builds on American's commitment to produce the highest quality steel pipe, made in America - the right way."
Innovation Depot CEO Devon Laney has a message for Birmingham's largest companies: work with us.
As the leader of the southeast's largest business incubator that holds more than 100 companies, Laney is working to increase corporate collaboration with the startups currently building their business within the Depot.
He said for the most part, Birmingham is lacking in that department despite BBVA Compass setting up a space at the Depot and BlueCross BlueShield of Alabama sponsoringDepot/U.
BBVA Compass has recently made several large investments in its banking hub of Birmingham. In 2012, the city was host to a $360 million core technology platform.
This year, Innovation Depot will house the bank's cross-industry technology center. BBVA also has invested in the future of the industry with a new technology hub in the Brock Operations Center in downtown Birmingham.
BBVA Compass opened its new technology development center in April, showing off the $13.5 million renovation that's intended to facilitate collaboration and easy communication, complete with an open floor plan and communal spaces. Apple co-founder Steve Wozniak and Birmingham Mayor William Bell attended the opening ceremony.
The open floor plan and collaborative environment draw inspiration from the start-up enterprises of Silicon Valley. "The space is intended to foster high functioning and agile teams that work with an increased level of productivity and collaboration," says BBVA Compass Chief Digital Banking Officer Jeff Dennes. "We've reimagined everything about how we work, from the way we manage projects and how our employees interact with one another to how we think about the function of a manager."
Peaches pack prosperity potential for Chilton County
By Michael Tomberlin
July 6, 2015
The fruit has become synonymous with the central Alabama county, and the state's most recognizable water tower.
Around 3,000 acres of peach orchards are in the county, and farmers since the 1950s have helped establish Chilton County peaches as some of the best in the Southeast.
"This started back before I was even born," said Tim Minor, manager of Jimmy Durbin Farms. "Farmers back in the '50s when they started growing peaches in Chilton County marketed off the tailgate of their pickup trucks. For whatever reason - the soil types, the elevations - Chilton County just became the place where the majority of the fruit trees ended up and the farmers."
Companies planning new facilities or expanding existing operations in Alabama announced more than 18,000 new jobs and nearly $3.4 billion in new investment during 2014, reflecting growing momentum in sectors including automotive, aerospace and advanced manufacturing.
The 2014 New & Expanding Industry Report, released by Gov. Robert Bentley and the Alabama Department of Commerce, provides an in-depth look at how economic development activity unfolded last year across the state.
The number of announced jobs from the 392 Alabama projects in 2014 totaled 18,137, while combined new capital investment topped $3.37 billion. In 2013, those figures were 16,847 jobs and nearly $4.4 billion in investment
