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A Message from the President

With Turkey Day just around the corner, it's that time of year to gather with loved ones and count our blessings. Fortunately, with the extraordinary job growth generated by numerous expansions and new business locations throughout our state-- we've much to be thankful for here in Alabama. Take a look below and you'll see the phenomenal growth companies such as Honda and Teksid Aluminum have been experiencing since their inception in Alabama.

Teksid Aluminum's third expansion to create 100 jobs

Marking the company's third expansion in less than four years, Teksid Aluminum Components is undergoing a $26.7 million, 50,000-square-foot expansion at its Sylacauga facility. The expansion, spurred by a new contract with Ford Motor Company, will create 100 new jobs. At the completion of this and a previous 2003 expansion tied to Hyundai's Montgomery facility, Teksid will employ 625 Alabamians and have nearly a $200 million investment in the state.

Alabama: Prime for business growth

Alabama is a top spot for business location and expansion, according to Plants Sites & Parks magazine’s annual Bizsites survey. Alabama shares the nation’s number two spot with Virginia on the 2004 survey, which measures where companies are actually investing their dollars to start and grow businesses. Complete results will be published in the magazine's January issue, click here to view an online history of the survey results.

On the heels of recent $425 million expansion-- Honda is doing it again with $70 million & 100 jobs

Honda Motor Company is investing $70 million and creating 100 jobs at its Lincoln assembly plant to enable the facility to manufacture some V-6 engine components that are currently being shipped in from outside facilities. Honda recently completed a $425 million expansion that doubled the plant's employment and production. To date, Honda has invested $1.2 billion and created more than 4,300 jobs to build and expand its Alabama facility, as well as to consolidate production of the top-selling Odyssey minivan.

Nation’s fastest-growing businesses clustering in Huntsville

Huntsville is leading the nation with the highest concentration of America’s fastest-growing privately held businesses. The elite 2004 Inc. 500 list, which bases its rankings on average annual sales growth over a period of years, includes five Huntsville companies. However, when Inc. magazine’s annual survey is adjusted for population, Huntsville has 17 Inc. 500 companies per million residents. Other Alabama cities with Inc. 500 businesses include Bessemer, Birmingham, Dothan and Wetumpka.

Corporate real estate executives choose Alabama’s business climate

America’s real estate executives have spoken, declaring Alabama home to one of the country’s best business climates. While Alabama ranked 10th on Site Selection magazine’s 2004 Top 25 State Business Climate Rankings based on expansion and new project activity, the state earned the number three spot in a nationwide survey of corporate real estate executives. The full article and survey lists are available at www.siteselection.com.

Local Economic Development News

Dawn Reeves, former Research/Existing Industry Coordinator for the Covington County Economic Development Commission, began her new position as Executive Vice President with the Andalusia Chamber of Commerce on November 1. Reeves will continue to remain an active member of the Economic Development Association of Alabama, Inc. (EDAA).

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