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
Hoover targets IT, financial tech, automotive R&D companies
By Jon Anderson
August 16, 2018
The city of Hoover is targeting information technology, financial technology and automotive research and development companies for recruitment and expansion, the city's economic developer shared today at the Hoover Area Chamber of Commerce's August luncheon.
Other key industries the city would like to develop are pharmaceuticals, freight logistics, medical devices, life sciences and other research and development operations, Greg Knighton told the chamber. Most of these industries are growing and pay high wages, he said.
With Mercedes, Honda and Hyundai plants already in the state and Toyota and Mazda announcing in January they plan to build a $1.6 billion plant in Huntsville, the automotive sector is ripe for further development, Knighton said.
Briggs & Stratton to open Alabama distribution hub, creating 20 jobs
August 17, 2018
AUBURN, Alabama -
Briggs & Stratton Corp.
announced plans today to open a 400,000-square-foot distribution center in Alabama, adding 20 new jobs to its significant manufacturing presence in Auburn.
The new Alabama distribution hub, focusing on Briggs & Stratton engines and other products, will allow the company to reduce delivery times to its customers in the Southeast region. The new facility is expected to be operational by spring 2019.
The Auburn center is part of a broader strategic plan by Briggs & Stratton to consolidate a number of smaller warehouse operations throughout the U.S. into two large operations. The company will also open a new distribution hub in Germantown, Wisconsin, under this plan, which will be in addition to the company's existing service and parts distribution center located in Menomonee Falls, Wisconsin.
Another record broken: Alabama posts highest ever employment numbers for third month in a row
August 18, 2018
Alabama is working again.
The state's Department of Labor Secretary Fitzgerald Washington
Friday that Alabama has shattered its employment record for the third month in a row.
"We continue to break employment records in Alabama," Washington said in a statement. "Nearly 30,000 more people are working now than they were last year. The message is clear, Alabama: we have jobs!"
UAB's new bioinformatics program is first of its kind in state
By Tiffany Westry Womack
August 15, 2018
Bioinformatics is the science of collecting and analyzing complex biological data, such as genetic codes. The field combines computer science, biology, chemistry, mathematics, genetics and engineering. The bioinformatics program at UAB will train students in basic concepts and skills to perform computational analysis of biological data, including the human genome, creating a well-trained workforce that can take on health care challenges in Alabama and beyond.
Accelerator program propels Birmingham startups to successful launches
By Alicia Rohan
August 16, 2018
56 companies headquartered in Alabama are named in Inc. magazine's annual ranking of the fastest growing companies in America. The list,
, was released Wednesday.
The fastest-growing Alabama company to make the list is Birmingham's
Southern Veterinary Partners
, a veterinarian owned and managed regional network of animal hospitals.
Coming in at #235 on the list of 5,000, the company saw revenue growth of 2,022 percent over the three years ending 2017, with revenue of a staggering $53 million. Founded in just 2014, the company now boasts 875 employees.
Developing Workers by Working Together
By Cary Estes
August 15, 2018
The American Village in Montevallo was an appropriate setting for July's fourth annual Alabama Communities of Excellence (ACE) Reunion. Community leaders, government officials and state educators gathered to discuss the connection between a skilled workforce and economic development, and ways to improve both in Alabama.
The theme that developed throughout the day was the importance of having strong communication and cooperation within the community. From the companies looking for workers to the schools that will train them to the parents and students themselves. They all need to bond together, sort of like, well, a village.