1. Most Economists Says Alabama Will Escape Worst of Recession
MONTGOMERY — Alabama's economy will avoid the worst of the national recession and could even eke out weak growth in 2009, said University of Alabama economist Samuel Addy. Projections released at UA's 2009 Economic Outlook Conference said gross state product will grow 0.3 percent in 2009, though the number could land anywhere from 0.7 percent growth to a decline of 1.5 percent, depending on when fiscal stimulus begins to influence the state.
2. Governor Presents State Stimulus Strategy to Legislature
Gov. Bob Riley presented his Alabama Economic Recovery Plan to the Alabama Legislature Tuesday night. “This plan will not only help Alabama survive this crisis, it will lay the foundation to move us forward and get our people back to work,” he said. http://www.governorpress.state.al.us/pr/sp-2009-02-03-sos2009.asp
3. Daniel Corporation Announces $750 Million Project in Birmingham
Daniel Corp. is moving forward with elements of a $750 million development project at its U.S. 280 campus. The company says it is prepared to start development plans at the 103-acre Cahaba Center at Grandview property that it acquired last year from HealthSouth Corp. Those plans include hotels, office buildings, retail shops and parking decks.
4. Key Congressional Member: Mobile Should Be Part of Tanker Program
The chairman of the House Appropriations Subcommittee on Defense, Rep. John Murtha, said he favors splitting a potential $40 billion Air Force tanker refueling contract between two rival aircraft giants. Murtha, a Pennsylvannia Democrat, made the comment last week during a visit to Mobile, which is trying to land the contract for Northrop Grumman/EADS at an Alabama port city site.
5. Honda Invests in Future with New Engineering Facility
LINCOLN — Officials at Honda Manufacturing of Alabama opened and dedicated a new building on the HMA campus that will house a branch of Honda Engineering North America. The $6 million facility designated “EGA-L” will house 22 Honda associates who will increase Honda Engineering’s support capability for improvements to equipment needs throughout the entire HMA complex.
6. From Rocket Propulsion to Cosmology, UAH Sets Record for Research
Researchers at The University of Alabama in Huntsville set a record in fiscal year 2008 by winning more than $84.6 million in research contracts and grants, an increase of more than 16 percent over the previous record set in FY 2006.
UAH researchers won more than 1,400 contracts and grants during the fiscal year in areas ranging from English as a second language to cosmology, rocket propulsion, air pollution and computer programming.
7. Three Alabama-made Vehicles To Be Featured in Hockey Ads
Honda has teamed up with the National Hockey League in a multifaceted advertising campaign that features three Alabama-made vehicles. The Japanese automaker is now the official vehicle of the National Hockey League, as part of a three-year deal that includes print and TV ads promoting the Odyssey minivan, Pilot sport utility and Ridgeline pickup.
8. Huntsville In Top Places in Nation to Retire, Say U.S. News & World Report
Efforts by companies such as Intuitive to hire retirees have helped Huntsville make the latest list of the top 10 best cities for job-seeking retirees by U.S. News & World Report. The article noted that some of the best cities to find retirement jobs support several industries that tend to hold up well in turbulent economies. It recognized Huntsville for its mix of government jobs at Redstone Arsenal and Marshall Space Flight Center and health-care opportunities in the Huntsville Hospital System.
9. Forbes Recognizes Alabama Area As One of Most Educated U.S. Towns
Forbes has recognized Mountain Brook as one of America’s top ten most educated small towns in the United States. The magazine said almost all on the list are suburbs near major universities or research centers, and the jobs--from IT in Silicon Valley to government work are anything but blue collar.
10. Sales of Alabama-made Hyundai’s Jump 85 Percent in January
U.S. sales of Hyundai's Alabama-built vehicles soared in January. Hyundai said today that it sold 8,508 Sonata sedans last month, up 85.5 percent from the 4,587 sold in January 2008.