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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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ASU awarded $750k for nanobiotechnology research and training
By WSFA
October 2, 2015
Alabama State University has been awarded a U.S. Department of Education grant totaling nearly $750,000 to train ASU students, as well as Alabama high school students and teachers interested in nanobiotechnology and other STEM (science, technology, engineering and mathematics) disciplines.
The three-year grant was awarded as part of the Department of Education's Minority Science and Engineering Improvement Program (MSEIP) to promote STEM careers among underrepresented populations, including women and ethnic minorities.
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Hundreds of jobs are heading to Troy
Hundreds of jobs are coming to Troy. Thursday, the company CGI is holding a ribbon cutting ceremony of it's expansion. The expansion will bring around 220 jobs, with 150 new employees starting Thursday.
CGI is located in an old shopping center, sharing the space in partnership with Troy University. The mayor says this expansion has been years in the making and combined with the university, the center will employ more than 750 people.
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[ wsfa.com]
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HealthSouth buys Reliant Hospital Partners for $730 million
By Kelly Poe
October 1, 2015
Birmingham-headquartered HealthSouth Corp. closed on its purchase of Reliant Hospital Partners for $730 million, the company announced Thursday. Reliant has 11 in-patient rehab hospitals in Texas, Massachusetts and Ohio, totaling 902 beds. Last year, Reliant had $210 million in revenues and had an adjusted EBITDA, which is a key profit measure, of $82 million.
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Confederate Motors aims to expand production line Birmingham Business Journal October 2, 2015
Fans of Birmingham-based Confederate Motors Inc. will soon have new products to choose from.
The motorcycle manufacturer has plans to expand on its production, moving from one to two bikes a week, then to six bikes a week by the end of the year.
"We've got a new architecture for our product, which is a fourth generation of our CX4," said Matt Chambers, founder and CEO of Confederate Motors. "The CX4 architecture is being built now, so all of the parts are coming in. We are going to start with a Combat Fighter, which is our highest end, most powerful product."
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