1. Alabama’s Jobless Rate Decline Outpaces Nearly All States
IAlabama's jobless rate dropped faster in 2010 than virtually all other states, according to data from the U.S. Bureau of Labor Statistics.
The state's unemployment rate was 9.1 percent in December, down from 10.9 percent a year earlier. That's a decline of 1.8 percentage points during the year, the BLS data indicates.
Michigan had the biggest decline in unemployment in 2010, a drop of 2.8 percentage points, to 11.7 percent last month. The District of Columbia's rate dropped 2.2 percentage points to 9.7 percent over the year.
2. Hysco Adding 40 New Jobs at Greenville Plant
Hysco America Co. is adding 40 new jobs to its workforce and expanding its facility in Greenville, the company said. The 174,000 square-foot expansion represents a $22 million investment and construction is scheduled for completion in September.
Hysco is a supplier to both Hyundai Motor Manufacturing in Hope Hull and Kia Motor Manufacturing in West Point, Ga. The company will invest an additional $5 million in the Georgia plant. “Hysco America is pleased to have this opportunity to make this announcement in light of the recent economic conditions,” the company said. “We are extremely proud of the success of our parent company, Hyundai Motor Group. We are pleased to be part of a company making great automobiles and it is showing in the public’s increasing confidence in the products we are making. We are all optimistic and excited about the future of our business and the direction of our company.”
The announcement was made at a Greenville City Council meeting. An artist’s rendition of the plant, following finished construction, was unveiled by company President Y.H. Shin and Mayor Dexter McLendon.
3. Wise Metals To Expand Muscle Shoals Plant
The Wise Metals Group is expanding its Alabama Reclamation Operations recycling plant in Muscle Shoals, a project expected to add dozens of jobs. Wise Chairman and CEO David D'Addario and Chief Operating Officer Wes Oberholzer say the $25 million project will begin immediately.
Oberholzer says the expansion involves recycling scrap aluminum, and that the process saves 95 percent of the energy required to produce primary aluminum. The expansion is expected to add 43 jobs, giving Wise more than 1,000 employees at its Shoals facilities. The expansion includes the addition of a melting furnace, delacquering kiln, shredders, material-cleaning equipment and environmental systems.
4. Plant Could Bring Greene County Hundreds of Jobs
An Illionois biofuels company says it wants to build an ethanol fuel production plant in Greene County that would create hundreds of jobs.
Coskata Inc. has secured a $250 million loan guarantee from the U.S. Department of Agriculture in support of the project. The privately-owned company is seeking other financing for the plant, which would produce cellulosic ethanol, a type of ethanol made from wood and plant materials.
The Coskata facility, which would be built at the Crossroads of America Industrial Park in Boligee, would create about 300 construction jobs and 700 direct and indirect jobs — at the plant and in harvesting and hauling pulpwood, wood and agricultural waste, and other materials the plant would use to make cellulosic ethanol.
The plant would be the first commercial-scale cellulosic ethanol facility using a proprietary process developed by Warrenville, Ill.-based Coskata.
5. Dothan Call Center Brings More Jobs Than Expected
A Dothan area business that recently expanded will provide more new jobs than initially thought.
The company was recently awarded a $248,987 Community Development Block Grant to aid the expansion of Vantage Sourcing, a Dothan-based call center that recently opened an office in Taylor. The grant will pay for the creation of about 350 new parking spaces adjacent to Taylor Plaza, where the call center is located.
When the new call center was announced in September, it was expected to employ as many as 350 people when fully operational. Now, however, the facility will host 430 employees and up to 52 trainees at a time.
Dothan Area Chamber of Commerce President Matt Parker said the grant means more jobs in the community, which is in desperate need of employment options.
6. Alabama Auto Production Surged in 2010
Alabama's auto industry made a strong comeback last year, with output that surged more than 50 percent. All three of the state's auto assembly factories ratcheted up their 2010 production significantly, putting workers on overtime as the global industry recovered from a deep downturn.
Combined, Mercedes-Benz, Honda and Hyundai produced more than 711,000 vehicles at their Alabama factories last year, according to the automakers and estimates from the Automotive News Data Center. That's up 52 percent from the 467,708 vehicles built in 2009 and the second-highest annual total in the state’s automotive sector.
7. Foley Plant To Add 20 Jobs in Expansion
Ascend Performance Materials, the Foley nylon maker formerly known as Solutia, plans a $7 million expansion that will create 20 jobs. The company, which now has about 70 employees, will install a new extruder to roughly double nylon production at its 39-acre South Bay Street plant. The new machinery will also allow the company to make a wider range of products.
"We expect exports to Europe and Asia to increase significantly as we double our production capacity, although we've exported products worldwide for some time," Plant Manager Thomas Boggs said in a statement. Boggs said new employees would include operators, electrical technicians and engineers.
The nylon pellets made at the plant are often used to make auto parts that can stand up to the heat and abrasion under the hood, said spokeswoman Marianne Cone.
Ascend's nylon is also used in industrial, electrical and electronic, apparel, carpet and other applications.
8. CNBC Show “Squawk Box” To Film in Alabama
The CNBC television show Squawk Box is planning to broadcast from the state of Alabama this week. Squawk Box is going to broadcast a series of shows from states that have had good economic news.
ThyssenKrupp Steel USA announced that Squawk Box will broadcast live from the company’s Cold Rolling Mill in Calvert on February 3 from 5:00 a.m. until 8:00 a.m. CST.
During the show’s air time, program host Carl Quintanilla will highlight various aspects of the project along with its regular programming of breaking news and analysis of financial markets.
9. Business Leaders around State Optimistic about Economy
Acording to the latest Alabama Business Confidence Index, business leaders around the state are generally optimistic about prospects for the economy and their industries this year.
The ABCI rose 7.1 points to 55, indicating that the recovery will be on firm ground for the first quarter, the report said. That's up from 47.9 in the fourth quarter of last year. A rating above 50 indicates expansion and below 50 is contraction.
Optimism is highest among Huntsville execs at 60.3 - up 9.5 points over a year ago - while Mobile follows at 58.0, an 8-point gain over the first quarter of 2010. Montgomery has an index of 53.9, 5.2 points over a year ago; and Birmingham-Hoover is 52.2, a 4.9-point increase.
"Business confidence moved strongly into expansionary territory this quarter at 60.3, a quick turnaround from a fourth quarter (2010) dip to 45.6," said Carolyn Trent, socioeconomic analyst for the Center for Business and Economic Research at the University of Alabama.
10. Hoover Development is “Best Community in America”
Residents of Hoover's Ross Bridge can officially claim they live in the "Best Community in America." The Daniel Corp. development won that designation from the National Association of Home Builders, beating out other communities from across the country.
In its first-ever platinum award for a community, the development and its sales and marketing teams received the award as part of the NAHB's "Best in American Living" ceremony and International Builders Show in Orlando on Friday.
"This is the real estate industry's version of a BCS national championship," said John Gunderson, senior vice president of residential real estate with Daniel. "It is a wonderful recognition for all of us in Birmingham."
Daniel teamed with USS Real Estate and the Retirement Systems of Alabama starting in 2003 to create Ross Bridge, which it dubbed "a classic American resort town."
Built on 1,700 acres of USS Real Estate property in the Shannon-Oxmoor Valley, the "resort" at its centerpiece is the $55 million, 262-room Renaissance Hotel and spa and Ross Bridge Golf Resort and Conference Center built on a Robert Trent Jones Golf Trail course.