The Birmingham Business Alliance said today that economic development activity in its seven-county region generated more than 2,000 jobs and nearly $587 million in new capital investment during 2016.
At a breakfast meeting today, BBA leaders also outlined their strategy of harnessing the Birmingham area’s extensive research and technology capabilities to spur growth and create high-tech jobs through initiatives such as Innovate Birmingham.
“We want to create opportunities for new companies and new college graduates,” Dr. Ray Watts, president of the University of Alabama at Birmingham and chairman of the BBA’s board, said at the 2017 Regional Economic Development Growth Summit.
Backed by $6 million in federal funding, the Innovate Birmingham Regional Workforce Partnership will train young adults in Alabama’s largest metro area for 925 high-paying technology-focused jobs. It’s supported by a broad coalition of business, education and community leaders.
It joins other initiatives, including the Velocity Accelerator program launched by Innovation Depot, that aim to contribute additional momentum to Birmingham’s expanding technology startup scene.
Watts said the pillars of Birmingham’s innovation community – UAB, Southern Research and Innovation Depot – will play a vital role in this movement to a knowledge-based economy.
2016 RESULTS
Brian Hilson, president and CEO of the BBA, outlined economic development activity in the region last year. Highlights:
- A total of 75 projects generated 2,014 jobs and $586.5 million in new capital investment. Slightly more than half of the projects were in manufacturing, with a majority of the investment taking place in Jefferson County.
- The largest single job-creation project was auto supplier MöllerTech’s plans to open a factory in Bibb County with 222 jobs.
Innovation Depot stands at the center of Birmingham’s ‘Innovation District.’ (Image: Jerry Underwood) - The project involving the largest investment was a $131 million expansion of Gestamp metal-stamping facility in Jefferson County.
- Life sciences accounted for about 19 percent of the jobs created through projects in 2016.
“We’re setting the stage for tremendous growth,” Birmingham Mayor William Bell said at the meeting.
