Goldman Sachs program aims to assist small business in rural Alabama
A new initiative from investment bank Goldman Sachs is poised to support small businesses in rural Alabama, with goals that include growth and job creation. U.S. Senator Katie Britt joined representatives of Goldman Sachs in Birmingham on Friday for the launch of the bank’s “Investment in Rural Communities” initiative in Alabama. The $100 million initiative provides comprehensive…
New investments, strategies position rural Alabama for economic growth
Alabama’s rural communities are on the brink of significant economic expansion, fueled by strategic investments and targeted policies designed to create jobs and enhance infrastructure. “To ensure that we expand opportunities everywhere, my administration is committed to helping spark revival and growth in the state’s rural communities,” Governor Kay Ivey said. “While there is much…
Alabama students target international rocketry crown at Farnborough
A team of high school students from Alabama will compete for global honors in rocket building at the 2024 Farnborough International Airshow. The students from Tharptown High School in Russellville won the American Rocketry Challenge in May, topping 922 teams in the overall competition and the top 100 that faced off in the national finals…
Aviation training takes off in rural communities with historic ties to flight
After attracting nearly $6 billion in new investment since 2020, Alabama’s rural counties are becoming a go-to location for companies involved in activities that include solar panel manufacturing, aluminum auto parts and graphite processing. And don’t forget flight training. In fact, two rural Alabama communities are hosting new aviation academies. As part of a project…
Investment firm launching aerospace hub in Northwest Alabama
CHEROKEE, Alabama — A new hub of aerospace manufacturing is on the horizon in rural Alabama. AE Industrial Partners is moving forward with its plans to transform a vast industrial facility in Colbert County into a high-tech center of innovation for aerospace and defense companies. The Boca Raton, Florida-based private equity firm, which specializes in…
Growing Alabama funds heading to 7 communities for site development
MONTGOMERY, Alabama — Governor Kay Ivey announced today that the Renewal of Alabama Commission has allocated over $15.5 million in Growing Alabama funding to seven economic development organizations across the state to speed the development of industrial sites. The Growing Alabama program provides a tax credit to eligible taxpayers who make contributions to economic development…
Growing Humminbird Alabama plant invests in sustainability
EUFAULA, Alabama — Humminbird, a leading maker of marine electronics products, announced on Thursday a renewable energy project as part of the recent expansion of its Eufaula plant to reduce carbon dioxide emissions over the next 20 years. The project included the installation of a solar array to power part of the Alabama plant’s electricity…
Second round of SEEDS grants becoming available for site development
Communities across Alabama will soon have an opportunity to apply for state grants that could help them develop industrial sites capable of competing for high-impact economic development projects — and the jobs that come with them. The new Site Evaluation and Economic Development Strategy (SEEDS) Act has already been a success, with the first round…
Auto parts maker Samkee Corp. opens first U.S. factory in Tuskegee
TUSKEGEE, Alabama — Commerce Secretary Ellen McNair joined officials of Samkee Corp. and local leaders today to mark the opening of the auto parts maker’s new production facility in Tuskegee Commerce Park. South Korea-based Samkee invested $128 million to build its first U.S. factory, which will employ over 170 people at full operation while providing…
Economic development magazine taps Alabama for its Silver Shovel Award
National business publication Area Development has selected Alabama for its Silver Shovel Award in recognition of major economic development project wins during 2023. “Being awarded the Silver Shovel Award is a strong testament to Alabama’s pro-business environment and to the capabilities of our workers, who can rise to meet any challenge,” Governor Kay Ivey said.…
