1. Despite Downturn, Alabama Still Fifth in Auto Production
Alabama in 2008 retained its spot as the nation's fifth-largest auto-producing state.
The auto assembly plants operated by Mercedes-Benz, Honda and Hyundai in Alabama turned out a combined 672,102 vehicles last year, a 9 percent decline from 2007's record-setting total of 739,019.Elsewhere, however, there were steeper drops, according to car and light-truck production totals compiled by the Automotive News Data Center.
The top 10 automating states in 2008 remained unchanged from 2007. Michigan topped the list with 1.9 million vehicles produced last year, a 20.6 percent fall from the previous year.
Ohio was second, with a total output of 1.5 million vehicles, a 15.1 percent drop. Kentucky and Missouri followed -- with production declines of 25.4 percent and 24.9 percent, respectively.
"It's absolutely no surprise that we are doing better than the rest of the nation, in terms of the impact (of the sales slump)," said Keivan Deravi, an economist at Auburn University at Montgomery. "We have some of the most efficient production lines. ... We have the cream of the crop in terms of the automobile industry."
2. Hyundai Plant Fuels Flexibility, Stability in Industry Downturn
As automakers around the world began to feel the strain of a global sales slump last fall, Hyundai quietly unveiled a life preserver of sorts at its Alabama auto factory.
The Korean automaker started up a new $300 million engine plant in September, and workers began building fuel-efficient, four-cylinder engines.
The timing couldn't have been better. While auto sales dropped precipitously across the board, smaller, gas-sipping cars -- such as the Sonata sedan that rolls off Hyundai's Montgomery assembly line -- offered more appeal among budget-minded shoppers.
"When we were impacted by consumers' shift to more fuel-efficient vehicles, we were able to move with the market quickly," said Robert Burns, a spokesman for the Hyundai plant. "We were able to make more 4-cylinders and put them in Sonatas, and we were able to build it all here."
As a result, the new engine plant has been a stabilizing force for Hyundai's $1.4 billion factory, as some workers were shifted from an existing V-6 engine facility on site to make more of the in-demand four-cylinder models.
3. Shoals Firm To Add 50 Jobs to Workforce
A new product line at Flexco will bring some 50 jobs to the Shoals during the next three years. Don Blazer, director of operations for the Tuscumbia-based business, said the expansion is near the existing distribution center in Muscle Shoals. The $6.25 million investment includes $3.5 million in machinery that will
Flexco has about 200 employees at its Tuscumbia location on Sixth Street and 15 at the distribution center, Blazer said. "We look forward to adding these 50 jobs over three years," he said.
4. Relocate America Names Huntsville among Top 10 Places To Live
Relocate America named Huntsville among the nation’s top 10 best places to live. The report cites Huntsville for its stable, diverse economy, low unemployment and many educational, cultural and recreational opportunities.
5. Mobile, Montgomery Score High in Income Growth
Mobile led Alabama metro areas in per capita personal income growth in 2008, according to figures released by the Bureau of Economic Analysis. It was also one of only 42 metro areas where income grew faster in 2008 than in 2007.
Per capita personal income reached $30,347 in the Mobile metro area, up 5 percent from $28,905 in 2007, the bureau reported. Personal income totaled $12.33 billion, an increase of 5.6 percent. Mobile ranked 39th nationwide for per capita personal income growth.
6. Alabama Areas Rank as Top Micropolitans
The Enterprise-Ozark area ranks eighth for best Micropolitan Statistical Area in the Southeastern United States, while ranking 75th in the nation for 2009, according to Policom Corp. a national research organization which posted the rankings
The Enterprise-Ozark area, along with the Daphne-Fairhope-Foley area in Southwest Alabama held two of the top 12 rankings areas in the Southeast, compared to the other Southern states of Arkansas, Louisiana, Mississippi, Tennessee, Georgia, Florida and South Carolina, according to the research group.
Once looked upon as quasi-rural areas, a micropolitan area must have an urbanized area of at least 10,000 population but less than 50,000 population. They include at least one county., according to Policom. The rankings published by Policom Corp., are based on 23 economic factors that measure progress over a 20-year period. This information helps to determine a micro’s ranking.
7. Selma Firm To Expand, Create New Assembly Line
Hanil E Hwa Interior Systems has announced plans for expansion and the creation of a new assembly line in Selma. The company is investing an estimated $6.5 million into the ventures, which are expected to create 10 new jobs.
The company will convert a new, recently purchased building in the Craig Industrial Park into a distribution center for raw materials. The new assembly line will be used to supply Hyundai with interior door trims for its new Sonata model.
The announcement is the third positive piece of economic news Dallas County has received in less than a week. Meadowcraft was purchased by Fitchburg, Wis.-based Home Casuals Wednesday and Castle Rock Industries broke ground on its new biodiesel plant this month.
8. Enterprise Firm Now Recognized Worldwide
People, process and performance are the cornerstones of an Enterprise company that has grown from a two-man operation to a multimillion-dollar company with locations worldwide.
Navigator was the first recipient of the Alabama Governor’s Trade of Excellence in Exporting Award in 2006, Patterson said. The award recognizes Alabama companies that have made a significant contribution to or had success in international business.
9. Theodore Company Plans 30-Job Expansion
Aker Solutions Inc. plans a $2.3 million, 30-job expansion at its Middle Bay Port facility just north of the Theodore Industrial Canal, in what the company said was a "significant increase" in its business.
The subsidiary of Norway's Aker Solutions ASA makes umbilicals -- flexible steel tubes that carry fiber optics, electrical wiring and hydraulic fluid from oil and gas platforms to the ocean floor.
The expansion would allow Aker to make tools used for the installation and repair of drilling risers, which help hold up pipes that can stretch more than a mile from a platform to seafloor. The tools are currently made in Malaysia and maintained in Louisiana.
Also consolidated to the Theodore facility would be some fabrication operations and a warehouse to store client equipment, both now in Houston.
10. Developers Line Up For $127 Million Leeds Project
Daniel Corp. and two partners are ready to build a $127 million outlet mall in Leeds that's meant to rival upscale centers in vacation destinations, and they already have lined up nearly three dozen retailers for the center.
The team plans to open the mall in time for the holiday shopping season of 2010, moving ahead with the project at a time when other developers are retrenching. Its design and layout are similar to outlet centers in Pigeon Forge, Tenn., and Destin, Fla.