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:


Gov. Bentley said new incentives are already spurring economic development activity

By Michael Tomberlin

July 20, 2015


Alabama Gov. Robert Bentley said the state's new incentives are being used to woo prospective companies to the state and are attracting interest from new projects.


Addressing members of the Economic Development Association of Alabama (EDAA) at their annual summer conference on Monday, Bentley thanked them for their help in helping pass three of five bills in this year's legislative sessions.


The new incentives allow companies to recoup taxes from payrolls and materials as they add jobs and build or expand. The pay-as-you-go incentives are not only preferable to the state - which has had to take on debt in the past to pay for incentives - but companies also see them as better for their business than the former tax credits.





Three Alabama hospitals highly ranked by U.S. News and World Report

on July 21, 2015 

U.S. News and World Report honored three Alabama medical centers in its annual list of best hospitals.


The nationally-ranked University of Alabama Hospital at Birmingham received top honors in the state, followed by Huntsville Hospital and Decatur Morgan Hospital, which are both regionally ranked.


The magazine did not rank any other hospitals in the state.


UAB Hospital is nationally ranked in six adult specialties: Rheumatology, Neurology and Neurosurgery, Nephrology, Gynecology, Orthopedics and Urology. The Birmingham hospital is highly-ranked in five other specialties. It's also the biggest Alabama hospital on the list with more than 1,000 beds.






Condoleezza Rice to address SEUS Japan 38 joint forum in Birmingham

BIRMINGHAM, Alabama - Dr. Condoleezza Rice, the 66th U.S. Secretary of State, will deliver the keynote address at a November joint meeting of groups that seek to promote trade, investment and cultural exchange between seven Southeastern states and Japan.


Dr. Rice, a Birmingham native who served as the chief U.S. diplomat from 2005 to 2009 and held important national security roles, is the Keynote Speaker at the 38th annual joint forum of the Southeast U.S.-Japan and Japan-Southeast U.S. associations. Her address will take place in Birmingham on Nov. 16.


SEUS Japan 38 is expected to attract hundreds of business leaders, economic developers and political officials from across the Southeast and Japan as part of an initiative that aims to broaden economic and cultural ties. The joint meeting will take place Nov. 14-17 at the Sheraton Birmingham Hotel.






 Hyundai lures Korean-American bank to area
Brad Harper, Montgomery Advertiser
July 18, 2015

Korean-American Wilshire Bank started in Los Angeles 35 years ago and laid down roots throughout California. Since then, it has built branches in Texas, New York and New Jersey.


Its next market? Alabama.


"The reason we're coming to the Southeast is mainly because of the Hyundai and Kia plants being here," said Kay Taylor. "We believe there's 100 or more suppliers around from West Point, Georgia, to Montgomery. There's tons of opportunity."

Wilshire opened its first Southeast location in LaGrange, Ga., a few months ago. Taylor led that branch before moving over to serve as the manager of the first Alabama branch, which opens July 27 in Montgomery.



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