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.
AIRBUS BOOM: Aerospace incubator is now completely packed with growing companies
By Kelli Dugan
February 10, 2016
Broetje Automation, the latest original equipment manufacturer to support the Airbus U.S. Manufacturing Facility, has set up shop officially at Mobile Aeroplex at Brookley.
Roger Wehner, executive director for the Mobile Airport Authority, said Broetje Automation's M-Technologie division is starting small with a two-man operation and has taken the last available space in Brookley's aerospace incubator, known as 2203.
"We are excited that our early commitment to an aerospace incubator at our campus once again proved to be of value to Airbus's evolving supply chain. Our solution is low cost and flexible and we are prepared to support their growth," he said.
Alabama House approves state income tax credit for small businesses
By Ryan Phillips - Digital Producer
February 10, 2016
The Alabama House of Representatives on Tuesday approved new legislation sponsored by State Rep. Kyle South, R - Fayette, that would provide a state income tax credit to small businesses for each new employee they hire.
The bill is included in the House Republican Caucus's "Right for Alabama" legislative agenda that was announced prior to the session's start, according to a release from the office of House Speaker Mike Hubbard.
"Over the last 20 years, small businesses have created more than 65 percent of all new jobs in our nation, but Alabama and other states have focused almost exclusively on providing incentives to industries and large employers," South said. "By passing my bill, the Legislature can send the strong message that we care about small business owners and employees and understand and value the important role they play in Alabama's economy."
Huntsville ranked No. 3 on the list, which includes cities with populations between 100,000 and 500,000 that have "relatively low costs of living and high salaries to help ensure you get the most bang for your buck."
The financial information company praised Huntsville for its 188,226 population, 115.4 percent income/cost ratio and 92.8 cost of living index ranking.
UAH continues to find additional funding sources for its $12M business incubator designed to help support startups in high-tech fields while creating an additional network for collaboration and growth in Huntsville.
The proposed Invention to Innovation Center (I2C) is receiving an additional $500,000 from the U.S. Dept. of Commerce Economic Development Administration (EDA) which will go toward the construction of the Virtual Proof of Concept Center (POCC): The Growth & Acceleration of Products (GAP) Project. This is the university's effort to further ideas and technologies toward the marketplace.
Nominations Now Open for the 2016 Alabama Innovation Awards
2015 Alabama Innovation Award Winners
Alabama Launchpad, a program of the Economic Development Partnership of Alabama, wants to recognize top innovation in the state. Do you know a company or individual that goes beyond the conventional?
SUBMIT NOMINATIONS FOR THE 2016 INNOVATION AWARDS
You can submit an application for your own company or another company in the following categories:
Corporate Innovator of the Year (small company, 1-50 employees)
Corporate Innovator of the Year (large company, 50+ employees)
Outstanding Achievement in Innovative Manufacturing
Outstanding Public-Private Partnership for Innovation
All winners will be recognized at the 6th Annual Alabama Launchpad Innovation & Entrepreneurship Conference on August 31.
Watch our video to hear the importance of the Alabama Innovation Awards from last year's Corporate Innovator of the Year (small company) recipient, Craig Parker, CEO Emergency CallWorks.
