Montgomery Business Journal

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October 2016

RETURN ENGAGEMENT

The Air Force Information Technology & Cyberpower Conference was back in Montgomery after a five-year hiatus. It had been held for nearly 30 years. The conference was expected to draw about 3,000 attendees, including 115 exhibitors. The estimated economic impact is close to $2 million.

SURGING SANTA FE SALES

The Santa Fe, which is produced at the Hyundai Motor Manufacturing Alabama plant in Montgomery, overtook the Sonata for the No. 2 spot on the automaker’s sales list. Santa Fe sales for August were 15,176 units while 14,888 Sonatas were sold. The Elantra topped all models with 20,733 units sold. All three vehicles are manufactured at the Montgomery facility.

THIRD RESTAURANT AT CHASE CORNER

Pieology Pizzeria became the third restaurant to open at Chase Corner, an Aronov Realty development across from The Shoppes at EastChase. Buffalo Wild Wings and Outback Steakhouse are also at Chase Corner, which will be anchored by Whole Foods Market. The 54,500-square-foot shopping center also features Jared The Galleria of Jewelry.

LOOKING FOR SPACE 

Two companies contacted Montgomery Mayor Todd Strange about leasing space next to the Montgomery Preparatory Academy for Career Technologies at One Center. He said those firms asked about space for an incubator.

Strange said that he would contact Blue Ridge Capital, a real estate investment company that owns the remaining 400,000 square feet. There was an auction for that space, but the bids were not accepted, according to Strange.

MONTGOMERY RANKED NO. 7

Montgomery was seventh out of 223 cities ranked by lowest cost of living by the website Niche. The ranking was based on eight categories, including home value to income ratio; median rent; monthly housing cost to income ration; median home value; and median effective property tax.

The top-ranked city was Fort Wayne, Ind., and the highest ranked Alabama city was Huntsville at No. 4.

MOVING UP IN RANKINGS

American Family Care, which has partnered with Baptist Health for eight facilities in the River Region, is now ranked No. 1,010 on the Inc. 5,000 list of the country’s fastest-growing private companies.

The firm was ranked 1,298th in 2015 and 4,635th in 2013. American Family Care was ranked No. 1 for the fastest growing health-related companies in the U.S. with annual revenue of $200 million-plus. The firm has more than $400 million in annual revenue and 1,400-plus employees.

CITY REVENUE CLIMGING

The City of Montgomery is expected to hit $230 million in revenue and Strange plans to add another $2 million to the city’s reserve fund. That will enable the city to have about 10 percent of the budget in reserves, which could bolster its credit rating.

The estimated revenue total is about $3 million more than the previous year and $400,000 more than was budgeted. Expenses are projected to be about $200,000 less than budgeted.

HYUNDAI TAKES TWO

The Korean automaker launched a new luxury brand – Genesis – and a new model called G80, which is considered a mid-luxury sedan. The company is also introducing the G90 luxury sedan.

ALABAMA POWER RECEIVES HONOR

Site Selection magazine has being naming the top utilities for economic development since 1999 and Alabama Power is on the 2016 list for achievements last year.

The Birmingham-based utility assisted in attracting about $2.4 billion in capital spending in its territory, which will lead to 2,325 jobs.

“In 2015, we put emphasis on developing new initiatives in economic development, marketing, supply chain, and other areas of the company to better understand the factors driving our customers’ success as well as identifying new ways to create opportunities for them,” Patrick Murphy, economic & community development vice president for Alabama Power, wrote in a statement.

The Site Selection top utility list is based on jobs, capital expenditures as well as the utility’s own investments and new jobs.

MORE DUNKIN'

Four more Dunkin’ Donuts are expected to open in Montgomery with the first store coming next year. The company currently has one location in Montgomery.

AIRPORT SEQUEL

Uber will now have a site for its drivers at the Montgomery Regional Airport. That will be a boost for business travelers whose companies may have corporate agreements with Uber.

Meanwhile, American Airlines is now using a larger 76-seat airplane for two of its daily flights to Dallas along with Wi-Fi.

MAIN LIBRARY GETTING FACELIFT

The Juliette Hampton Morgan Memorial Library will have a new heating and cooling system as well as new furniture and a redesign of the interior as part of a two-year renovation project.

The library will remain open during the renovation.

Related Links


Calendar of Events

Build a Relationship: A Guide to Effective Customer Communication Through Video, Text and Email
Thu, 29 Jun 2017
12:00 PM - 1:00 PM

Business After Hours
Thu, 29 Jun 2017
5:00 PM - 7:00 PM

BizTalk MGM Radio Broadcast
Mon, 03 Jul 2017
6:00 PM - 6:30 PM

Montgomery Women in Business Meet-up: Ladies Who Lunch
Thu, 06 Jul 2017
11:30 AM - 1:00 PM

Government Contracting 101 Webinar Series Event spans multiple days
Mon, 10 Jul 2017 -
Fri, 14 Jul 2017

11:00 AM - 12:00 PM

BizTalk MGM Radio Broadcast
Mon, 10 Jul 2017
6:00 PM - 6:30 PM

Easy and Affordable DIY Infographics For Your Business
Tue, 11 Jul 2017
12:00 PM - 1:00 PM

60 Minute Coffee
Wed, 12 Jul 2017
8:00 AM - 9:00 AM

Business Tax Update
Thu, 13 Jul 2017
11:00 AM - 1:00 PM

BizTalk MGM Radio Broadcast
Mon, 17 Jul 2017
6:00 PM - 6:30 PM

Business 101: Start It Up
Tue, 18 Jul 2017
8:30 AM - 9:30 AM

9 Secrets for Retail Success
Thu, 20 Jul 2017
12:00 PM - 1:00 PM

BizTalk MGM Radio Broadcast
Mon, 24 Jul 2017
6:00 PM - 6:30 PM

Business After Hours
Thu, 27 Jul 2017
5:00 PM - 7:00 PM


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