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:

Royal Technologies announces Cullman expansion
46 min ago 
Royal Technologies President Jim Vander Kolk announced the construction of a new 165,000 square-foot facility at their Cullman property this morning. 

Local and state officials are attending the press conference to announcement the investment in Cullman, which started at 10 a.m. today.

A groundbreaking ceremony will be followed by a tour of Royal's existing facilities.


Alabama works to strengthen economic ties with Germany
MONTGOMERY, AL (WSFA) -The state of Alabama is working to strengthen its economic ties with Germany. State leaders hosted a delegation from Baden-Wuttemberg, Germany - home to Mercedes. Mercedes has a plant in Tuscaloosa County.

State leaders and the delegation discussed the future of the automobile when it comes to production, technology, and trade - specifically, ongoing negotiations dealing with the North American Free Trade Agreement, or NAFTA.

"Trade is very important to the state of Alabama because our leading export happens to be coming from the automotive sector. So, we want to educate the current administration as to the importance of having fair trade agreements that work for everyone including the U.S., but also our trade partners," said Secretary of Commerce Greg Canfield.



Provalus holds ground breaking Wednesday
October 25, 2017

"It's a Chamber of Commerce Day" said Provalus' president Chuck Ruggiero just before Wednesday's ground breaking ceremony for the new IT company.

More than 100 people attended the event, among those was Gov. Kay Ivey.

Mayor Yank Lovelace credited those who helped make the project possible including city council members, city staff, economic development officials and local legislators.


Helena resident hired as economic development director of 58 Inc.
October 25, 2017

PELHAM - Shelby County's new economic development entity, 58 Inc., announced the hiring of its first director of economic development at the Greater Shelby County Chamber of Commerce's October community luncheon on Wednesday, Oct. 25.

Chad Scroggins, 58 Inc. board member and chief development officer for Shelby County, announced Yvonne Murray, 33, as the entity's leader. Murray's first day on the job is slated for Nov. 6.

"We posted the job in June and then went through a very extensive interview process," Scroggins said. "We brought Yvonne on board about a week ago."


Birmingham named a top place to retire
By  Stephanie Rebman -  Managing Editor, Birmingham Business Journal
Oct. 26, 2017
Birmingham has once again received a high ranking on a list of best places to retire in the United States.

Livability has released its best places to retire list, placing Birmingham at No. 7.

Rankings were determined by crunching data from the U.S. Census Bureau, Medicare, Esri, NOAA, Walk Score, the Environmental Protection Agency and more. While each city is unique and provides its own lifestyle for a retiree, Livability focused on health care, climate, crime rates, cost of living, housing costs and access to recreational activities.


Two Birmingham companies rank among largest in world

By Ty West  -  Editor-in-Chief, Birmingham Business Journal

Birmingham has two companies on the Forbes Global 2000 listing of the world's largest public companies.

The list is based on a combination of factors, including sales, profits, assets and market value.

Regions Financial Corp., which is Birmingham's only Fortune 500 company, ranked No. 546 on the list. Regions had $5.8 billion in sales, $1.2 billion in profits, $126.7 billion in assets and $17.4 billion in market value.


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