Michael Randle, Author at Southern Business & Development

Alabama exports soar to record total in 2023, topping $27 billion

Posted on February 23, 2024October 25, 2024 by Michael Randle

MONTGOMERY, Alabama — Governor Kay Ivey announced today that Alabama companies exported goods and services worth over $27.4 billion in 2023, setting a new annual record for the second consecutive year and underscoring the resilience of the state’s economy.

“The record-breaking success of our exporters extends the reach of the ‘Made in Alabama’ brand while reflecting the high level of demand for our homegrown products.”

Alabama exports went to 190 countries across the world in 2023, landing everywhere from the world’s biggest economies to tiny locations such as the Solomon Islands, Palau and Gibraltar, according to Commerce data.

The top destinations for Alabama exports last year were:

Germany: $5.1 billion (up 17%)
Canada: $3.9 billion (down 2%)
China: $3.8 billion (up 15%)
Mexico: $3.2 billion (up 16%)
South Korea: $1.2 billion (up 15%)

Other leading destinations for Alabama exports in 2023 were Japan, Brazil, Poland, India and Saudi Arabia, Commerce data show.

“This second consecutive record year for exports really highlights the fact that companies across Alabama continue to provide top-quality goods and services that are sought by customers worldwide,” said Ellen McNair, Secretary of the Alabama Department of Commerce.

“Looking forward, the potential for greater export growth is there, and we are already exploring new and expanding markets for Alabama companies.”

POWERING GAINS

“Growth in exports means growth in our economy.”

Overseas shipments of motor vehicles powered the surge in Alabama exports in 2023, reaching a record annual total of $11.5 billion, a gain of nearly 28% from the prior year. Germany, China and Canada were the leading destinations for Alabama automobiles, Commerce data show.

Overall, transportation equipment, which include motor vehicles, auto parts, ships and aerospace products, remained Alabama’s No. 1 export category, totaling $14.8 billion. Notably, exports of aerospace products and parts topped $2.1 billion last year, a rise of 23% from the previous year.

Other categories registering over $1 billion in exports during 2023 were minerals and ores ($2.2 billion), chemicals ($2.2 billion) and primary metals ($1.8 billion), according to Commerce data.

“It’s really rewarding to see the hard work of our Alabama companies,” said Christina Stimpson, director of Commerce’s Office of International Trade. “Their dedication, despite geopolitical challenges, is what has allowed us to see a second year of record-breaking success. When our companies find opportunities overseas, it creates a real impact in strengthening our local communities.

“Growth in exports means growth in our economy,” she added.

Commerce’s Office of International Trade offers resources to help Alabama companies enter profitable new overseas markets through trade and business development missions, training, foreign-market information, and international contacts.

The office is a partner in Export Alabama, a seamless network of international trade agencies that share the fundamental objective of helping Alabama companies expand their business internationally.

The value of last year’s exports rose 6% from the previous year’s total of $25.5 billion, according to data from the Alabama Department of Commerce. Compared to 2020, when international trade was disrupted by the pandemic, the value of Alabama’s exports has jumped almost 43%.

Last year’s record export activity was driven by rising overseas shipments of Alabama-made vehicles, aerospace parts, minerals and metals, Commerce data indicate.

“Exporting acts as a fundamental economic pillar that supports growth in Alabama, sparking both new investment and job creation here at home,” Governor Ivey said.

Alabama Department of Commerce

Atlanta office space available for sublease declines for the first time in more than a year

Posted on February 23, 2024October 25, 2024 by Michael Randle

Gov. Beshear: Bosch Berries To Locate New Agri-Business in Pulaski County With $49.5 Million Investment Creating 28 Full-Time Jobs

Posted on February 23, 2024October 25, 2024 by Michael Randle

FRANKFORT, Ky. (Feb. 12, 2024) – Today, Gov. Andy Beshear announced exciting momentum within the state’s agritech sector as Bosch Berries, an international grower and distributor of bell peppers, blackberries and strawberries, will be locating a new greenhouse operation in Somerset, investing nearly $50 million and creating 28 full-time Kentucky jobs.

“The growth within Kentucky’s agritech industry has played a key role in the state’s continued economic momentum and prosperity,” Gov. Beshear said. “Bosch Berries’ plan to locate its first location in the United States right here in the commonwealth speaks volumes about what our state has to offer. This is an incredible investment for southcentral Kentucky and the Pulaski County community, and I look forward to a long, successful partnership.”

Bosch Berries has acquired the previously established AppHarvest facility in Somerset to locate the company’s first greenhouse operation in the United States. The existing greenhouse infrastructure will allow the company to enhance the growing environment to maximize production capacity, implement new technologies to optimize growing efficiencies, reduce waste and gain access to the U.S. market. The existing greenhouse, which has been operational since November 2022, is over 30 acres and capable of growing approximately 1 million strawberry plants at a time. This strategic initiative by Bosch Berries aligns with the company’s continued commitment to sustainable agriculture and economic growth and will serve as a steppingstone for future Bosch Berries’ greenhouse operations in the United States.

“We are thrilled with the acquisition of the Somerset facility and to become a part of the Somerset community,” said Tijmen and Wouter van den Bosch, co-directors of Bosch Berries. “With some technical changes we have planned for this summer and introducing the best practices we have built through 90 years of greenhouse experience; we will make it one of the most successful greenhouses of its kind. We want to thank all employees and partners who share our belief in better berries, which are tasty, fresh, clean, sustainable and always available. Somerset deserves better berries; Kentucky deserves better berries, and the United States deserves better berries. Be on the lookout in your local grocery store for hydroponically grown strawberries.”

Based out of the Netherlands, Bosch Berries is a sixth generation family farm operation founded in 1854 that specializes in growing and distributing bell peppers, blackberries and strawberries. The company has been involved with greenhouse cultivation since the 1930s and in 2017, ventured into greenhouse berry production, focusing on the production of delicious, year-round blackberries. Today, the company operates two greenhouses and looks forward to entering the U.S. market and growing the North American berry industry.

Pulaski County Judge/Executive Marshall Todd is excited to see a company like Bosch Berries locate in the community: “When life hands you berries, you make the best of the situation. And in the case of Bosch Berries, Pulaski County welcomes them and is very appreciative of their willingness to acquire the property formerly known as AppHarvest. We hope that they will prosper in their new home and grow not only locally sourced products, but also community relationships we can cultivate for generations to come.”

Somerset Mayor Alan Keck expressed his excitement for Bosch Berries bringing their operation to Pulaski County: “Our community is excited and appreciative of Bosch Berries for their commitment to the Somerset facility. I firmly believe they will execute on the promise that fresh produce will be grown using state of the art technology for decades to come.”

Chris Girdler, president and CEO of the Somerset-Pulaski County Economic Development Authority, looks forward to the company’s future success in the community: “We, as a community, are very excited about the Bosch Berries acquisition of the Somerset facility. They bring to bear many decades of farming experience, and we are grateful for their investment in the Capital of Lake Cumberland. It has been a privilege to work with Tijmen and Wouter van den Bosch, and the future is very bright for everyone involved.”

Bosch Berries’ investment and job creation build on the best four-year period for economic growth in state history.

Since the beginning of his administration, Gov. Beshear has announced more than 1,000 private-sector new-location and expansion projects totaling over $30 billion in announced investments, creating more than 51,800 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history.

The robust job creation has been accompanied by rising wages across the commonwealth. The average incentivized hourly wage in 2022 and 2023 topped $26 in consecutive years for the first time.

Gov. Beshear has announced some of the largest economic development projects in state history, which have solidified Kentucky as the electric vehicle battery production capital of the United States: Ford Motor Co. and SK On’s transformative $5.8 billion, 5,000-job BlueOval SK Battery Park in Hardin County; AESC’s $2 billion, 2,000-job gigafactory project in Warren County; Toyota’s $1.3 billion investment in Scott County; and INFAC North America’s $53 million investment in Taylor County, among others.

The Governor’s administration also secured the largest General Fund budget surplus and Rainy Day Fund, as well as the most jobs filled in state history. Last year, Kentucky set the record for the longest period with the lowest unemployment rates in state history.

Kentucky also secured rating increases from major credit rating agencies Fitch Ratings and S&P Global Ratings, and Moody’s Investors Service upgraded Kentucky’s credit outlook from stable to positive.

Site Selection magazine placed Kentucky first in the South Central region and top 5 nationally in its 2023 Prosperity Cup ranking, which recognizes state-level economic development agencies for their success in landing capital investment projects.

Gov. Beshear announced a “Supply Kentucky” initiative with the goal of boosting job growth, reducing costs and providing more security in the supply chains of our Kentucky companies.

To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority in October 2023 preliminarily approved an incentive agreement with the company under the Kentucky Business Investment program.

By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.

In addition, Bosch Berries can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.

For more information on Bosch Berries, visit boschberries.com.

A detailed community profile for Pulaski County can be viewed here.

More information on the Governor’s AgriTech Initiative is available at AgriTech.ky.gov.

Gov. Beshear: New Build-Ready Site in Jackson County Adds to State’s Growing Commitment to Site Development

Posted on February 12, 2024October 25, 2024 by Michael Randle

FRANKFORT, Ky. (Feb. 8, 2024) – Today, Gov. Andy Beshear highlighted the continued momentum of the commonwealth’s site development and speed-to-market initiatives with the announcement of a new Build-Ready site in Jackson County, the program’s first designated brownfield site.

“We are building on the commonwealth’s historic economic momentum, and with that, we are continuing to build the foundation for even more growth in the years ahead,” said Gov. Beshear. “Build-Ready sites ensure companies have the infrastructure they need to start construction quickly and begin operation without costly delays that are often associated with new-location projects. This new Build-Ready site in Jackson County is yet another important step toward creating more quality jobs for Kentuckians.”

In May 2023, Jackson County was awarded funding through the Kentucky Product Development Initiative (KPDI) to turn a former industrial property into a Build-Ready site. The property was formerly home to the Mid-South Electronics facility that was lost to a fire in 2005, designating this site as the Build-Ready program’s first brownfield site. In addition to the Build-Ready requirements, the local community also produced several additional Phase I and Phase II Environmental Site Assessments through the Energy and Environment Cabinet’s Targeted Brownfield Assessment program and an intense geotechnical evaluation that cleared the site for further development.

The site includes a 140,000-square-foot building pad on nearly 17.7 acres. Along with natural gas, electric, water, phone and high-speed fiber internet provided by Bluegrass Fiber, the site offers access to the newly expanded and rerouted Kentucky Highway 30.

Jackson County Judge/Executive Shane Gabbard mentioned the significance of the site: “In my nine years serving as judge/executive in Jackson County, seeing this industrial site get this important certification is one of the most exciting announcements that we have had. It is vital to our economic and community development future. Thank you to all that were involved in making this a reality.”

McKee Mayor J. Michael Stidham expressed his excitement for the project: “As part of the Jackson County/McKee Industrial Development Authority, we are very excited about the approval of the Build-Ready status of the site and anything that can make our county grow. Anything that is good for Jackson County is good for McKee, and this is a great step forward for Jackson County!”

Mitchell Ball, executive director of Jackson County/McKee Industrial Development Authority invited businesses to the area: “Thanks to the Kentucky Cabinet for Economic Development for all their help, direction and encouragement provided through the Build-Ready process. If a company is looking for a location to start or expand its business/industry, Jackson County is ready and willing to help in any way possible!”

With a Build-Ready site, much of the work – aside from construction – has already been completed. That includes controlling the land to be developed, completing archaeological, environmental and geotechnical studies, constructing a building pad, finishing preliminary design work, obtaining approved site plan permits and putting necessary infrastructure in place. On a Build-Ready site, construction can begin immediately.

To be Build-Ready-certified, a site must include a pad ready to accommodate a building of 50,000 square feet with the ability to expand to 100,000 square feet or more and utilities extending to the site. Applicants – usually a city, county or economic development group – must have previously filed the necessary permits, as well as preliminary building plans, cost estimates and schedule projections. Applicants also are asked to provide a rendering of a potential building for the site.

Including the new site in Jackson County, the commonwealth is home to roughly 21 available Build-Ready sites. Multiple other locations across the state are currently working toward certification.

To date, 12 former Build-Ready-certified sites, including tracts located in Barren, Butler, Christian, Graves, Hart, Laurel and Pulaski counties and five sites in Warren County, have been selected by companies for new location projects, allowing companies to bring their operations online in a cost-efficient manner while creating jobs for local Kentuckians.

To keep the state’s red-hot economy booming and to make sure every community has an opportunity to land a major new employer, the Governor’s current budget proposal includes another $200 million over the next two years: $100 million to prepare mega-development projects and another $100 million for county and regional site development.

“We know this works. Working with lawmakers, we’ve already dedicated $100 million to this kind of site development through this successful program,” Gov. Beshear said. “To date, more than 52 counties have received funding to develop more Build-Ready sites, and a second round of funding is on its way.”

The new Build-Ready site announcement in Jackson County builds on the best four-year period for economic growth in state history.

The robust job creation has been accompanied by rising wages across the commonwealth. The average incentivized hourly wage in 2022 and 2023 topped $26 in consecutive years for the first time.

Gov. Beshear announced a “Supply Kentucky” initiative with the goal of boosting job growth, reducing costs and providing more security in the supply chains of our Kentucky companies.

For more information on Build-Ready sites in Kentucky, visit CED.ky.gov/BuildReady.

A detailed community profile for Jackson County can be viewed here.

Mailchimp aims to inspire innovation through whimsy at new Atlanta HQ

Posted on February 12, 2024October 25, 2024 by Michael Randle

The ability to alter video call backgrounds has changed the vibe of work meetings. You can give a presentation surrounded by a tropical island scene, or maybe the overlay of a refined study will add some sophistication to your virtual interview.

If a tiki-themed room or a picturesque library seems like a great backdrop to spice up work, you don’t have to scroll through Zoom’s options — you can just go to Mailchimp’s new Atlanta headquarters. Atlanta Journal Constitution

“We’ve had people comment that it looks like a fake Zoom background,” Ashely Wilson, Mailchimp’s senior manager of employee experience, said inside the building’s library-themed workspace. “But no, we’re in the office!”

Mailchimp, one of Atlanta’s largest startup successes, held a ribbon-cutting ceremony Wednesday for its new offices, roughly 360,000 square feet of Beltline-adjacent space designed as a white-collar worker’s playground. Dozens of murals line the walls, there are menageries of seat choices and amenities are omnipresent to tempt employees away from working from their couch.

Atlanta Journal Constitution

European Tire Recycling and Sustainable Commodity Manufacturing Company Announces $46 Million Plan to Build First U.S. Facility in Louisiana

Posted on February 12, 2024October 25, 2024 by Michael Randle

RESERVE, La. – Life for Tyres Group Limited, Europe’s largest end-of-life tire recycling company with manufacturing facilities for sustainable commodities, announced it will invest $46 million to establish its first U.S. processing facility on 10 acres at the Port of South Louisiana.

The recycling and manufacturing plant, L4T Louisiana LLC, will convert end-of-life tires into high-quality sustainable commodities such as advanced biofuel feedstock, recovered carbon black and scrap steel. L4T expects to create 46 direct new jobs in St. John the Baptist Parish. Louisiana Economic Development estimates the project will result in 151 indirect new jobs, for a total of 197 potential new jobs in the Southeast Region.

“This new project is a perfect example of the power of the ports to drive investment and job creation in Louisiana,” Governor Jeff Landry said. “In addition to the tremendous impact this foreign investment will have on the state and local economies, L4T will support Louisiana-based oil and gas and petroleum chemical companies with high-quality sustainable commodities that help them achieve their carbon management goals.”

Life for Tyres Group’s patented technology enables it to manufacture high-quality secondary raw materials such as recovered carbon black, green oil and steel, which are then used in industrial processes. The company says its approach reduces up to 90% of greenhouse gas emissions when compared with conventional tire recycling processes.

“We are very excited about expanding our operations in the U.S. in the state of Louisiana and being part of its energy transition,” L4T CEO Tilen Milicevic said. “A strong industrial ecosystem, the availability of qualified personnel and suppliers, excellent connectivity, abundance of feedstock and proximity of our final clients are just a few of the many reasons why L4T Group, following a thorough market study, decided for Louisiana to be home to our first investment in the U.S. We are looking forward to a long and fruitful partnership with the Port of South Louisiana and to being good corporate citizens for the state of Louisiana.”

L4T’s Louisiana facility is part of a broader global expansion plan by the company, which is headquartered in Ireland and recently opened a plant in Puertollano, Spain.

“At the Port of South Louisiana, we have made environmental sustainability a pillar in our mission as we seek private investments that not only create jobs for River Region families, but are also safe for our community,” Port of South Louisiana CEO Paul Matthews said. “The first of its kind in the nation, L4T Louisiana will be a world-class, carbon positive facility where Louisiana’s workers will produce high-quality totally sustainable commodities. This project will be a welcome addition to Globalplex, making it a greener and more efficient facility with room to grow.”

To secure the project, the state of Louisiana offered a competitive incentives package that includes the comprehensive workforce development solutions of LED FastStart. It also includes a Performance-Based Grant of $1 million to be used for reimbursement of company expenditures for site improvements. The company is also expected to participate in Louisiana’s Industrial Tax Exemption and Quality Jobs programs.

“We are thrilled to welcome Life for Tyres to the Greater New Orleans region, creating economic growth and new jobs in St. John the Baptist Parish,” said Michael Hecht, president and CEO of Greater New Orleans, Inc. “The company’s innovative process not only helps put discarded tires back into commerce, it transforms them into sought-after biofuel products that help prove that Louisiana will be the all-of-the-above energy state of the future.”

About Life for Tyres Group
Life for Tyres Group specializes in manufacturing high-quality sustainable commodities from waste tires. L4T’s main activities include the development, investment, construction and operation of state-of-the-art upcycling facilities for waste tires. Headquartered in Ireland, the company was founded in 2017 and owns the largest upcycling facility of its kind in Europe. L4T possesses intellectual property (five patents) in respect to its industrial process, which consists of depolymerization of ELTs into a number of sustainable commodities comprising advanced biofuel feedstock (which is certified by ISCC ED renewable component) and circular depolymerization oil (non-renewable component certified by ISCC PLUS); recovered black carbon (certified by ISCC Plus); scrap steel; and syngas. For further information, visit L4TGroup.com.

About LED
Louisiana Economic Development is responsible for strengthening the state’s business environment and creating a more vibrant economy. In 2023, LED attracted more than $25 billion of capital investment resulting in the creation of 19,000 potential new and retained jobs. Explore how LED cultivates jobs and economic opportunity for the people of Louisiana and employers of all sizes at OpportunityLouisiana.gov.

About the Port of South Louisiana
Founded in 1960, the Port of South Louisiana [PortSL] is a 54-mile port district on the Mississippi River between New Orleans and Baton Rouge, encompassing the parishes of St. Charles, St. John the Baptist, and St. James. The Port of South Louisiana is the largest port in Louisiana and No. 2 in the Western Hemisphere. It ranks as the No. 1 U.S. grain exporter and No. 2 U.S. energy transfer port. Port SL is home to seven grain transfer facilities, four major oil refineries, 11 petrochemical manufacturing facilities and several other facilities, including the Executive Regional Airport

Hartsfield-Jackson surges in 2023. Here’s how many passengers it saw

Posted on February 12, 2024October 25, 2024 by Michael Randle

Hartsfield-Jackson International Airport said it handled 104.7 million passengers in 2023, marking its continued recovery from the effects of the COVID-19 pandemic on air travel.

The passenger count marks an 11.7% year-over-year increase. But it still falls short of the record 110.5 million passengers the Atlanta airport handled in 2019, before the pandemic hit.

Atlanta Mayor Andre Dickens in a written statement called the airport’s performance “a testament to our city’s resilience and the airport’s pivotal role in the economic recovery.”

Atlanta Journal Constitution

Florida Chamber Foundation Economists Predict Another Year of Positive Economic Growth for the World’s 15th Largest Economy in 2024

Posted on February 12, 2024October 25, 2024 by Michael Randle

The Florida Chamber Foundation unveiled its 2024 economic and demographic predictions during the 2024 Florida Economic Outlook & Jobs Solution Summit. The Florida Chamber Foundation team, leading economists, industry experts, and lawmakers shared a glimpse into the opportunities and challenges Florida’s economy and businesses are facing on the road to 2030. The Solution Summit featured a 2024 Florida economic forecast, a national economic outlook, and valuable insight into Florida’s evolving workforce needs, housing trends, population growth, research and development potential, and more.

“Florida leads the nation in several important categories and has become the national model for economic growth,” said Florida Chamber Foundation President & CEO Mark Wilson. “As Florida continues to experience extraordinary economic and population growth, it is essential our job creators continue uniting around the right long-term solutions to secure Florida’s Future.”

Under the leadership of Governor Ron DeSantis, Senate President Kathleen Passidomo, and House Speaker Paul Renner, Florida is creating 1 in every 13 U.S. jobs, is growing by 1,000 people per day, and has the lowest debt per capita of any state.

Florida Chamber of Commerce

Kaseya to Create 3,400 Jobs in Miami

Posted on February 12, 2024October 25, 2024 by Michael Randle

TALLAHASSEE, Fla. – Kaseya has announced it will create 3,400 new direct jobs in Miami over the next three years with a capital investment of more than $16 million. Kaseya, a global IT management software firm, made its initial move to Miami in 2018.

“Kaseya’s monumental announcement further solidifies Florida as a leading technology hub,” said Laura DiBella, Florida Secretary of Commerce and President & CEO of Enterprise Florida. “As talent development is crucial to the growth and vitality of Florida companies, Enterprise Florida worked diligently with our partners at CareerSource Florida to offer Kaseya up to $6.8 million in Quick Response Training funds. We believe this investment will create essential workforce development opportunities that will benefit the Miami-Dade community for years to come.”

The 3,400 new direct jobs will have an average salary of $107,000, an unprecedented investment in the tech industry in Miami-Dade County.

SelectFlorida.org

Va. Beach makes economic development head permanent

Posted on February 12, 2024October 25, 2024 by Michael Randle

Charles E. “Chuck” Rigney Sr. has worked in economic development all over Hampton Roads; in Norfolk, Portsmouth and Hampton.

Last February, he joined Virginia Beach’s economic development team as a business development administrator and since June 2023, he has been the department’s interim director. Now he’ll keep the job permanently. The city announced his promotion Feb. 2 and Rigney will start his new role Thursday.

Rigney graduated from Old Dominion University, where he studied political science. He started his career in banking, then worked in commercial real estate for Virginia Beach-based The Breeden Co. and Virginia Beach-based Armada Hoffler. He was tapped as Virginia Beach’s interim director after the city’s previous economic development chief, Taylor Adams, left for a job in Nevada.

Virginia Business