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:





City OKs tax plan for Goodyear expansion
Times Staff Writer
November 24, 2015 

The Gadsden City Council on Tuesday approved two tax abatements on a $30.1 million expansion at Goodyear Tire & Rubber Co.'s Gadsden plant.

Some $27.7 million will go toward new manufacturing machinery, and $2.4 million is for facility construction. Goodyear said in a press release that $17.3 million is the cost subject to sales tax.

"Basically, we're abating $144,600 over a 10-year period, and construction abatements will be $671,095," Bill Greene, assistant director of the Gadsden-Etowah County Industrial Development Authority, told the council.


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Mobile's Technip USA eyes $31 million Alabama expansion
By Kelli M. Dugan
November 24, 2015
 
With an eye toward rebounding energy markets, an established Mobile company is looking to invest nearly $31 million to expand its Theodore operations and ultimately boost its employment by about 10 percent.

The city of Mobile's Industrial Development Board recently approved 10-year ad valorem and sales and use tax abatements totaling roughly $3.3 million for the proposed Technip USA Inc. expansion.

David Rodgers, a project manager with the Mobile Area Chamber of Commerce, said the reinvestment in Technip's rigid steel pipe spoolbase along the Theodore Industrial Canal is intended to upgrade facilities and equipment in anticipation of construction bids and jobs "coming on board in 2017."

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Bentley awards grant to help create jobs in Macon County
Special to the News
November 27, 2015

Gov. Robert Bentley has awarded $400,000 to help create jobs and improve public services for residents in Macon County, his office announced.

The Community Development Block Grant awarded by Bentley will help build a 250,000-gallon water tank that will serve LogisAll USA and residents in the town of Shorter. LogisAll is locating in the county and will provide 40 new jobs. The company supplies freight and warehousing services for automobile manufacturers in Alabama and Georgia.

Grant funds also will be used to extend municipal sewer service to the site of company's newfacility to be built in an industrial area north of Interstate 85.

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Construction to start on the dual-branded Hilton Hotel in downtown Birmingham
on November 24, 2015 

Developers officially broke ground on a Hilton hotel that's the first of its kind in the country on Tuesday.

Dothan-based LBA Properties, Sunbelt Development and Hollis & Spann will develop the double-branded Hilton Hotel, which will feature a Hilton Garden Inn and Home2 Suites, a Hilton extended stay brand. That combination is the first of its kind in the country.

The two brands will share a common check-in point and share amenities like office space, a pool and a fitness center. The hotel will have 210 rooms total as well as a restaurant and bar.  


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Shoals joins angel fund for startups 
By Bill Campbell Staff Writer | 
 Nov 30, 2015

Thanks to a collaboration with an angel investment fund, the Shoals Entrepreneurial Center now can offer startups opportunities to make pitches for funding that could range into the millions of dollars.

The Mane Capital Fund is a micro-venture fund established in north Alabama by the Angel Capital Group, which encompasses angel investors in a dozen cities.

An angel investor is an affluent person who provides capital for a business startup in exchange for convertible debt or ownership equity. The Angel Capital Group is a network of angel investors who can provide research and advice - as well as large pools of funding - for startups.

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UA-Affiliated Technology Aims to Improve Drinking Water
Nov 30, 2015 

TUSCALOOSA, Ala. - A method of cleaning drinking water with light is being tested and developed at The University of Alabama with the hope of creating a product available for homes and businesses.

LiTeWater, a company spun off from the technology, will be one of five teams competing in the Alabama Launchpad Startup Competition Dec. 10 in Huntsville.

Cleaning drinking water from a faucet with ultraviolet light, along with standard filters, could not only remove chemicals but potentially harmful viruses and bacteria. Commercially-available filters for homes and businesses use activated carbon and other minerals to remove contaminants, but they do not disinfect the water from pathogens.


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