https://www.bizjournals.com/birmingh...nvestment.html
The Jefferson County Commission approved financial support for four economic development projects.
A total investment of $31.8 million is spread across three of the four projects. The county is also investing $750,000 into a study and project from the Birmingham Business Alliance. Three of the projects will create a projected 401 combined jobs over the next five years.
The four projects include an expansion of local health care company Pack Health. Pack Health's capital investment will be $5.2 million and will create 200 jobs over the next five years, according to projections. Read more about other incentives for this project here.
Along with Pack Health, national security solutions provider Kratos is investing $26.6 million into the community and will create 76 high-paying jobs within the next five years. Kratos is also receiving incentives for its project, which the BBJ previously reported on here.
Following Kratos, the Bray will develop approximately 865 acres of land in Liberty Park. That land will house Medical Properties Trust's new headquarters. It will also offer residential, hospitality, health care, parks and schools. According to the county's projections, over the next 25 years the Bray will have a fiscal impact of $70 in ad valorem taxes. The project is a joint venture with the city of Vestavia Hills. In the March, the BBJ reported on an approved plan for 600 homes on 700 acres of the land.
The final project out of the four is the expansion of the Southern Research Institute's facilities. The expansion will allow the Institute to develop commercialization capacity along with a venture studio and research laboratory space. The new research space will total 200,000 square feet. Southern Research Institute expects to add approximately 125 new jobs.
Along with the four economic development projects, the county is investing $750,000 into the Birmingham Business Alliance's (BBA) supply chain study and Supplier Scale program. The BBA's program will support business development.