Pitching Huntsville across the pond
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The message in London: Huntsville, North Alabama, and the state as a whole have plenty to offer aerospace companies.
Why it matters: Aerospace is big business locally, and the relationships built at Farnborough International Airshow over the years help the region land major projects and investment. (I am here moderating some discussions and fireside chats, partly courtesy of Huntsville/Madison County Economic Development Partners.)
Catch up quick: "We have a unique value proposition because of how we grew up," Huntsville/Madison County Chamber of Commerce CEO Chip Cherry told Axios, from the Apollo period to today's 400 aerospace and defense companies.
- Cherry and other officials in London pointed to workforce as a strong selling point, especially AIDT, the Alabama Industrial Development Training program.
By the numbers: More than 1 million Alabamians have gone through AIDT training and supported over 5,000 companies, Alabama Secretary of Commerce Ellen McNair said in an interview with Axios.
- Huntsville is always adding more people to its workforce, too, and quality-of-live investments in everything from greenways to disc golf help draw them to the city, Mayor Tommy Battle said.
Zoom in: Port of Huntsville Chief Development Officer Barbie Peek, an airshow veteran of more than 20 years, noted that the pitch goes beyond Huntsville city limits.
- "We touch more than 18 counties right now, so 12 counties in North Alabama and six counties in South-Central Tennessee," she said Tuesday. "We work with our partners in Morgan County and Limestone County, and naturally TVA is a great economic resource."
Yes, but: "It's very competitive," McNair said. "You're not going to win them all."
- Incentives are also part of the mix, and while they are sometimes criticized as handouts to companies, McNair stressed that they're tied to performance, and said data from the Jobs Act package shows that it's running a 29% return on investment.
- "It's not a corporate giveaway," she said.
Context: Of around 3,200 projects to locate in Alabama in recent years, McNair said 250, fewer than 10%, utilized incentives.
