Posted Jun 25, 2010, 7:10 PM
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Join Date: Jun 2003
Location: Montgomery
Posts: 1,632
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Interesting. This is from a few days ago...
Quote:
Officials: Firms consider expanding to Capital City
By Cosby Woodruff • www.montgomeryadvertiser.com • June 17, 2010
Economic development officials in the Montgomery area believe they are close to landing several industries, including at least one that would employ more than 500 people.
None would name the potential companies, what business they are in or any other details, but they said the deal could close within weeks on some projects.
Ellen McNair, senior vice president of corporate development at the Montgomery Area Chamber of Commerce, told a gathering of chamber and government leaders that corporate interest in expanding to Montgomery has grown this year.
She appeared before Montgomery City Council and Montgomery County Commission members in executive session this week. The official reason for the executive sessions was to consider land purchases.
McNair said she was limited in the comments she could make because any leak might cause a company to drop Montgomery from its list.
Still, she said activity has picked up dramatically this year. In 2008, Montgomery drew site visits from 26 companies interested in locating here. Last year, that number dropped to 18.
In the first five months of 2010, McNair said she has hosted 26 site visits.
"It has been very good activity," she said.
Now, she says the community is a finalist for a handful of projects.
One of those, according to Montgomery Mayor Todd Strange, could employ more than 500 people, and some of the others could employ up to 300 people.
"We are inundated," he said of economic development activity.
Just getting to the finalist stage is a major undertaking, according to McNair.
"It is a very long process for a lot of the projects," she said.
She said getting to the final stage is good if the city lands the industry, but can be costly if it does not.
The chamber and other groups will invest time, resources and money in recruiting a company, and if that company goes elsewhere, that investment is lost, she said.
Still, she said she was excited to be the finalist for several projects at once.
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from today's paper...
Quote:
Caterpillar may build Montgomery plant
June 25, 2010 www.montgomeryadvertiser.com
Caterpillar Inc., a manufacturer of heavy equipment, announced Friday that Montgomery is one of three sites under consideration for a new plant.
The company also is considering Spartanburg, S.C. and Winston-Salem, N.C., according to chief corporate spokesman Jim Dugan.
“Caterpillar Inc. is considering establishing a significant component manufacturing facility in the Southeastern United States,” he said in a written statement.
“Over the past several months, a project team has evaluated locations across nine states and has narrowed its search.”
The company expects to decide by August where the plant will go.
The Montgomery Area Chamber of Commerce cited policies against discussing economic development negotiations in declining to comment on Caterpillars announcement.
Keivan Deravi, an economist with Auburn Montgomery, said Montgomery leaders should be pleased to be on the short list, but he cautioned against too much excitement.
“If we are on the short list, that is great news,” he said. “It means we are doing something right.”
He said now that the short list is public, incentive bidding can drive the process. That can be dangerous if bidders are not careful.
“It is called the winners curse, you can put too much on the table,” he said.
Caterpillar would not release any additional details, but it appears likely this is the 500-job project that Montgomery Mayor Todd Strange has talked about for more than a week.
While Caterpillar would not release additional details of the proposed plant, the company did issue a statement on June 8 announcing changes to its corporate strategy.
“I’m personally energized and ready to take on our competitors,” Caterpillar vice-chairman and CEO-elect Doug Oberhelman said in the June 8 statement.
“As we roll out the strategy to the entire Caterpillar team there are a few key messages that will emerge.
“First, we’re energized, playing offense and driving to win everywhere in the world.”
Caterpillar said it will release more details on its new strategy on Aug. 19.
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"lol... You're welcome kid."
LOL! I know your finger is on the trigger, thoraudio.
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