Hilo’s Energy Landscape Transforms with Hamakua Plant Sale
News Summary Hilo’s energy scene faces a significant shift as Hawaiian Electric Industries Inc. sells the Hamakua Energy Plant to Harbert Management Corp. The sale, finalized on March 10, 2025, follows a tumultuous year for HEI’s subsidiary, which experienced substantial operational losses. The change aims to enhance sustainability and optimize power production as Harbert steps […]
Alabama Delegation on a Mission to Poland for Aerospace Growth
News Summary A delegation from Alabama, including six aerospace and defense companies, has arrived in Poland to explore trade opportunities. This mission, organized by the Alabama Department of Commerce and Export Alabama, aims to enhance business ties in Poland’s growing economy, focusing on sectors like aerospace, defense, and cybersecurity. Supported by a U.S. Small Business […]
Major Expansion in Defense Manufacturing in Mobile
News Summary Austal USA has received the ‘Deal of the Year’ Impact Award for its $750 million expansion projects in Mobile, Alabama, set to create 2,000 jobs. One facility will focus on submarine module fabrication while the second will be dedicated to large steel ship assembly. This expansion underlines the region’s growing role in defense […]
Join The Funding Lab Workshop for Alabama Small Businesses
News Summary The Funding Lab workshop is set to take place on March 11 from 8:30 a.m. to 11:30 a.m. in Alabama, offering small business owners the chance to learn about funding options, including the SSBCI capital program. This free event aims to equip participants with the knowledge and tools necessary to secure funding and […]
Eufaula Faces Job Cuts as Local Nucor Facility Closes
News Summary Eufaula, Alabama is set to lose 79 jobs as Nucor Buildings Group announces the closure of its service center by the end of April. This decision, driven by strategic business realignment, impacts a local economy already facing challenges post-pandemic. The production backlog will be redirected to Nucor’s Texas facility, while affected employees may […]
Goldman Sachs Invests $3 Million in Alabama Small Businesses
News Summary Goldman Sachs has announced a $3 million investment to support small businesses across Alabama under its 10,000 Small Businesses program. The launch event took place at Innovation Depot in Birmingham, attended by local leaders. This initiative aims to provide training, access to capital, and personalized support for rural entrepreneurs who face various challenges […]
Economic Developments Reshape Alabama in 2024
News Summary As Alabama enters 2024, the state experiences significant economic advancements, including the opening of a new distillery, an $800 million Meta data center, and expansion in healthcare and banking sectors. Notable projects such as the development at Port Birmingham and the recognition of Protective Stadium in Birmingham highlight the state’s growing influence in […]
Alabama Workforce Initiative Expands Job Opportunities
News Summary The Be Pro Be Proud initiative is launching in Alabama, aimed at workforce-readiness for the state’s students. This program, which includes hands-on training and high-tech simulators, prepares youth for high-demand careers in technical fields. With a significant demand for workers in construction and other trades, this expansion seeks to combat misconceptions about career […]
ONE East Launches for Economic Development in East Alabama
News Summary ONE East Alabama has officially launched as a new regional economic development organization to foster collaboration and investment across nine counties. Held at Talladega Superspeedway, the event brought together local and state officials, business owners, and community leaders to discuss strategies aimed at creating high-quality job opportunities and boosting the area’s overall prosperity. […]
Proposed Senate Bill 132 Threatens Legal Hemp in Alabama
News Summary Alabama’s Senate Bill 132, introduced by Senator Tim Melson, seeks to criminalize legal hemp products such as Delta 8 and Delta 9. This legislation threatens local businesses, reduces access to beneficial health products, and raises concerns about the impact on the growing hemp market. Advocates for reform call for more liberal hemp laws, […]