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:

5 Alabama startups to compete for $100,000 today at LEAP competition

UTC Aerospace Systems to add 260 jobs with Alabama expansion

Asahi Kasei opens plastics plant in Athens

Argosy Opens New Facility to Expand Honeycomb Core Market

Homewood named one of the best cities for families

Aladdin Light Lift Awarded NAITA 2016 Global Trade Award

5 Alabama startups to compete for $100,000 today at LEAP competition

By Lucy Berry | lberry@al.com

on May 03, 2016

Alabama Launchpad startups will have another chance to compete for funding today during the inaugural LEAP Alumni Competition in Birmingham.

The event, hosted by the Economic Development Partnership of Alabama, will begin at 4 p.m. with networking at WorkPlay Theatre on 500 23rd Street, followed by the competition at 6.

The teams from Birmingham, Huntsville and Florence are previous Alabama Launchpad competitors and will rival for their chance at $100,000.

more....

[al.com]

UTC Aerospace Systems to add 260 jobs with Alabama expansion

May 3, 2016

FOLEY, Alabama - UTC Aerospace Systems announced plans today to expand its Baldwin County aerostructures plant with a new $30 million facility that will supply integrated jet engines to the Airbus A320 Family assembly line in Mobile, creating 260 jobs.

At a groundbreaking ceremony today at its Foley site, UTC revealed plans to construct a 80,000-square-foot building to house assembly of nacelle components - the aerodynamic coverings around engines - and propulsion system integration.

The primary mission of the new facility, UTC says, is to support the production of A320 Family aircraft in Alabama by Airbus. Initially, the focus will be on the conventional engines for the Airbus passenger jets, though it eventually will include the new engine option, or neo.

more....

[madeinalabama]

Asahi Kasei opens plastics plant in Athens

Savannah Williamson swilliamson@waaytv.com

Updated

3 hrs ago

Asahi Kasei Plastics North America, Inc. has officially opened their newest plastics compounding facility in Athens with a ribbon cutting on Monday.

This is the company's second facility in North America. They will make high performance plastic compounds for suppliers in automotive, industrial, furniture and trucking markets.

"We are happy to have built this facility in Athens," said Yuji Kobayashi, Vice President, Representative Director, and Executive Officer for Material Business Sector at Asahi Kasei Corporation in a statement. "We have found Asahi Kasei's core values as a company to be in line with the city of Athens: forward thinking, open mindedness and willingness to embrace diversity."

more...

[WAAYTV]

Argosy Opens New Facility to Expand Honeycomb Core Market

May 03, 2016

NEW YORK--(BUSINESS WIRE)--Argosy International Inc., a leading supplier of advanced composites and related materials to the global aerospace industry, has started construction of their new 39,000 square foot honeycomb core facility to be strategically located in Alabama close to the new Airbus and Boeing aero clusters in the Southeastern USA.

Argosy's commercial grade aluminum honeycomb core is a noncombustible material manufactured in multiple cell sizes from 3/16" to 1" with two different density options for each cell size, and can be provided with both chrome and non-chrome coatings.

The new facility will be certified to ISO 9001 and features a carefully designed cutting room (vertical band saw), industrial dust collection system, and a staging area for material. Inventory locations will be dedicated for standard stock material (HOBE commercial grade 3000 and 5052 series) and customer specific stock material.

more...

[businesswire.com]

Homewood named one of the best cities for families

Tim Steere Digital Producer Birmingham Business Journal

May 2, 2016

A new study from Livability.com, a site focused on relocation and quality of life, recently named Homewood as the 8th best city for families.

The site's annual 10 Best Cities for Families list examines school quality, crime rates, healthcare quality, local economic factors, park space, demographic diversity and other factors when compiling the rankings.

Livability cited Homewood's strong school system, cultural amenities and year-round events as valuable factors when considering Homewood's ranking.

more...

[Birmingham Business Journal]

Aladdin Light Lift Awarded NAITA 2016 Global Trade Award

HUNTSVILLE, AL, April 28, 2016 - The North Alabama International Trade Association announces that Huntsville small business Aladdin Light Lift received NAITA's prestigious Global Trade Award for 2016 at the NAITA World Trade Day Luncheon on Thursday.

Aladdin Light Lift produces electric motor winch systems that are used to raise and lower lighting. President John Fall and his business partner Ron Williams patented the system in 1991, which is available in four different models of varying strengths. Since opening 26 years ago, the company has sold over 300,000 units.

Aladdin began selling internationally six years ago. Export countries include Canada, Australia, the United Kingdom, Germany, Japan, Singapore, Poland, Italy, Sweden, Russia, China and Qatar. While individuals are the largest customers in the United States, corporations are Aladdin's largest international customers. Since beginning its international endeavors, the company has increased its revenues by $200,000 each year. Last year the company earned approximately four percent of its sales from its exports.

more...

[NAITA]