The Wire

  • New tunnel, premium RV section at Talladega Superspeedway on schedule despite weather

    Excerpt:

    Construction of a new oversized vehicle tunnel and premium RV infield parking section at Talladega Superspeedway is still on schedule to be completed in time for the April NASCAR race, despite large amounts of rainfall and unusual groundwater conditions underneath the track.

    Track Chairman Grant Lynch, during a news conference Wednesday at the track, said he’s amazed the general contractor, Taylor Corporation of Oxford, has been able to keep the project on schedule.

    “The amount of water they have pumped out of that and the extra engineering they did from the original design, basically to keep that tunnel from floating up out of the earth, was remarkable,” Lynch said.

  • Alabama workers built 1.6M engines in 2018 to add auto horsepower

    Excerpt:

    Alabama’s auto workers built nearly 1.6 million engines last year, as the state industry continues to carve out a place in global markets with innovative, high-performance parts, systems and finished vehicles.

    Last year also saw major new developments in engine manufacturing among the state’s key players, and more advanced infrastructure is on the way in the coming year.

    Hyundai expects to complete a key addition to its engine operations in Montgomery during the first half of 2019, while Honda continues to reap the benefits of a cutting-edge Alabama engine line installed several years ago.

  • Groundbreaking on Alabama’s newest aerospace plant made possible through key partnerships

    Excerpt:

    Political and business leaders gathered for a groundbreaking at Alabama’s newest aerospace plant gave credit to the formation of the many key partnerships that made it possible.

    Governor Kay Ivey and several other federal, state and local officials attended the event which celebrated the construction of rocket engine builder Blue Origin’s facility in Huntsville.

Economic optimism on the rise as Alabama’s business community bounces back

(YHN)

Not only is light at the end of the tunnel, but the sun is shining on Alabama’s business community.

Alabama businesses are actively hiring as the unemployment rate continues to drop and economic optimism rebounds. Our state is poised for a robust recovery from the pandemic — with the best days ahead.

The state’s unemployment rate has fallen each month this year and is quickly approaching the historic lows enjoyed before the COVID-19 pandemic shook the nation last spring.

“Not only is the unemployment rate dropping, but businesses are actively hiring,” said Business Council of Alabama President and CEO Katie Boyd Britt.  “Alabama truly is open for business, and we have a lot of reason for optimism moving forward.”

263

According to the latest data, both metropolitan and micropolitan areas have seen significant declines in joblessness in recent months. For many employers, the task now is finding qualified, willing workers for vacant positions.

Currently, there are over 66,500 job openings in Alabama, and many employers predict their workforce needs to continue to increase.

“Chamber of commerce members throughout the state have indicated immediate hiring needs as well as planned employment increases throughout the remainder of 2021,” stated Chamber of Commerce Association of Alabama (CCAA) President and CEO Paige Hutto. “CCAA represents our “boots on the ground” local chambers and through them we know that their members are actively looking for qualified workers. Through our partnership with the Business Council of Alabama, we are working with state and local leaders to assist our members with the resources they need for continued growth.”

“BCA is proud to continue offering unparalleled support and resources for our member businesses as they look to put the pandemic in the rear view mirror,” added Britt. “From advocating for pro-jobs policies to delivering innovative tools, the forward-thinking team at BCA is thrilled to help foster a climate in which businesses of all sizes and sectors can thrive far into the future.”

BCA is firmly committed to continuing to offer unmatched expertise and assistance to Alabama businesses. Visit our website to learn more about what BCA can do for you.

The Business Council of Alabama is the state’s largest business association representing nearly one million working Alabamians to ensure that businesses of all sizes can grow and flourish in our state.

96.8% of Alabama employers are small businesses, employing half the state’s workforce

Open for Business

Friday marked the final day of National Small Business Week, a week dedicated to recognizing the important and critical contributions to America’s success by small business owners and entrepreneurs.

More than half of Americans either own or work for a small business, which create about two of every three new jobs in the U.S. each year.

Whether it’s a young couple that started a house painting-lawn service-spray wash business and now has grown enough to hire two employees, to a locally owned pizza parlor that for decades has provided full or part-time jobs for 15 or more people, to the local paint store or auto parts store, small businesses are the institutional backbone of communities, and state and national economies.

Who at one time has not worked for a small business, maybe in the summer, when attending high school or college, and then as an adult in the work force either as an employee or ultimately an owner?

Every year since 1963, the president of the Untied States has issued a proclamation announcing National Small Business Week.

“Our small businesses represent what is best about our Nation – the idea that with determination and responsibility, anyone can build a better life for themselves and their loved ones,” states the proclamation. “This week, we recognize the role small businesses play as pillars of our communities and engines of our growing economy, and we rededicate ourselves to fostering the entrepreneurial spirit that has forged the strongest economy the world has ever known.”

According to the U.S. Small Business Administration, Alabama in 2012 had 386,661 small businesses that employed 764,207 men and women, or about half of the state’s private workforce. Virtually all firms with employees are small, making up 96.8 percent of all employers in the state. In Alabama, small businesses created 24,890 net new jobs in 2012.

“Small businesses provide the majority of jobs for Alabamians, and protecting their entrepreneurial efforts sustains job growth and is essential to Alabama’s continued economic development,” said Business Council of Alabama President and CEO William J. Canary. “Small businesses from Waterloo to the Wiregrass and from Bridgeport to Bayou La Batre are the backbone of our economy.”

During National Small Business Week, the SBA has highlighted the impact of outstanding entrepreneurs, small business owners, and others from all 50 states and U.S. territories, to grow small businesses, create 21st century jobs, drive innovation, and increase America’s global competitiveness, the SBA said.

SBA Administrator Maria Contreras-Sweet has hosted events in Los Angeles, San Antonio, New York City, and Washington, D.C. The event concluded Friday with the recognition of national award winners and the selection of the national Small Business Person of the Year.

1