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
Hyundai Power Transformers USA to Expand Operations in Montgomery, Alabama
Montgomery, AL - April 17, 2018 - Hyundai Power Transformers USA, Inc. (HPT) has announced a $33 million expansion of its Montgomery facility resulting in the creation of 86 new jobs. The expansion will enable the company to establish a "Smart Factory" and increase production of its power transformers by more than 60 percent. The expansion will include a newly-constructed training facility that will contribute to fostering an advanced labor force, taking the company one step closer to achieving its plan of generating $200 million in revenue by 2021.
Hyundai Electric (HE) recently announced that it is acquiring 100 percent ownership of HPT from Hyundai Heavy Industries to accelerate its strategic approach towards the U.S. transformer market. Hyundai Electric acquired facilities in Bulgaria and China earlier this year.
HPT is Korea's first production plant established in the U.S. within the electric power industry. It currently employs 300 people and can produce 14,000 MVA annually, or 80 units of power transformers. According to Goulden Report, a market research provider of electrical industry, United States (12.71 percent) was the second largest transformers market after China (34.57 percent) in 2016.
Rodgers to head economic development for Mobile Chamber
The Mobile Area Chamber of Commerce has announced that David Rodgers has been promoted to the position of vice president for economic development.
Rodgers' predecessor was Troy Wayman. In December, Wayman was hired as president and CEO of One Acadiana in Lafayette, La., an organization that describes itself as "a bolder, re-energized version of the former Greater Lafayette Chamber of Commerce."
Rodgers, a Mobile native, previously was a senior project manager for economic development. According to the Chamber he worked on successful campaigns to bring several significant projects to Mobile, including Canfor Southern Pine's 2016 decision to relocate its headquarters to downtown Mobile, a Continental Motors expansion announced last year and the Walmart distribution center being built west of the city.
Alabama trade mission team seeks business connections in South America
BUENOS AIRES, Argentina - Alabama Commerce Secretary Greg Canfield is leading a team of state business leaders on a trade mission in South America this week, aiming to forge new relationships and find new markets for their goods and services.
The mission to Argentina and Ecuador features a wide variety of the state's business interests, with representatives from the tech, engineering, medical and manufacturing fields.
In both countries, the delegation will meet with public and private sector leaders to explore new business and investment opportunities.
Shorter man uses backyard stream to build bottled water company
By Jordyn Elston
SHORTER, AL (WSFA) -
A local entrepreneur from Shorter is on a mission to change the way that we see water. Using the stream that has been in his family since the 1950s, Moses Weaver discovered a way to bottle the purest water he has ever tasted.
Energy H20 is drawn from an artesian spring that is estimated to be around 1,000 years old. The bottle is BPA free, environmentally friendly, and biodegradable. These are all factors that Weaver says makes his water unique.
When testing the water, he found that it contains essential minerals that are normally artificially placed in bottled water. Weaver put the water to the test by competing in the Auburn Regional Alabama Launchpad
, where Energy H20 won the top $50,000 prize.
Toyota teams with Alabama A&M to solve mobility issues
Toyota Motor North America is teaming with students from Alabama A&M University on an initiative to help solve mobility issues.
David Fernandes, president of Toyota Motor Manufacturing Alabama, announced at a Friday event on the Alabama A&M campus an initial grant of $300,000 to fund the initiative, which includes scholarships for students accepted into the program.
But what, exactly, is a mobility issue?