Doing Business in Alabama
Not only is the state of Alabama a great place to do business, it is a state of great diversity. The north section of the state has many wilderness areas that include national forests and state parks. The southern section of Alabama touches the Gulf of Mexico providing perfect recreation areas. When the work week is over there is plenty to do whether it is playing a game of golf, exploring majestic mountains, or relaxing on a sandy beach.
Major industries in the state include hydroelectric power, agriculture, mining and steel-making. Many respected companies such as Honda and Mercedes have found Alabama to an ideal setting for manufacturing automobiles. Others choose the state to build engines and today there are over 300 companies related to automobiles in the state.
In addition, Alabama has a rich history in aerospace and aviation, as well as defense and has played an important role in the development of the aerospace industry. What's more, there are nearly 95 biotechnology related companies that are either based in the state or doing business in the state. Alabama is home to hundreds of aerospace companies. The state offers an extremely competitive business climate and the tax structure includes incentives tailored to bringing in businesses and retaining them.
In the past Birmingham was a primary industrial center and was dependent on the steel and iron industry. Today the city’s economy relies more on the medical industry, trade, government, research and finance. Even though the steel industry is not as major as it once was, steel production continues to play a key role in the economy. The industrial investments have been in automotive manufacturing, metals and machinery industries. The telecommunications industry is expanding and the city is home for one of the regional headquarters for what is now known as AT&T. The city is also headquarters for several power companies.
Birmingham is a mecca for medical research and healthcare. The city boasts the Alabama Medical Center, known around the world for its research and treatments. Additionally, the Southern Research Institute, which is the largest research laboratory of its kind, has acquired national prominence.
The city is a central distribution center with a surplus of businesses working in warehousing and global trade, which enables the city to be a key shipper of merchandise due to the proximity of major waterways. Significant growth has been experienced in the transportation hub, as well due to Birmingham’s central location and the fact that the city is serviced by several airlines and cargo services, over 101 truck lines, approximately four railways and over 9 barge lines. Plus, a large expansion of the runway and cargo facility took place at the airport several years ago, as part of Birmingham’s effort to further growth in the distribution and transportation industries.
There is a summer filled with big business events in Birmingham. A main business event in Birmingham that is not to be missed is the Big Black Book Business conference. The event is hosted in downtown Birmingham and is more like a networking party than a conference. The sponsors advise to bring plenty of business cards to this free event as there are numerous priceless contacts to be made. The social media boot camp is another major business conference that discusses everything a business needs to know to implement a thriving social media presence for their business.
Networking events in Birmingham provide a place and an opportunity where busy entrepreneurs can meet to get connected. Circle Events offer a complete assortment of weekly networking events for the business community in Birmingham. One of the most popular is the breakfast club, which provides a focused networking environment, specifically to promote your business. The evening event provides a relaxed atmosphere in order to build business relationships. This networking event features a buffet, guest speakers and a mini exhibition, as well as ample time for networking. Circle events offer various workshops and an enormous yearly EXPO, as well.
There are various business organizations and partnership resources in Birmingham that provide businesses the tools necessary to succeed. A few of the organizations include the Department of Industrial Relations, Small Business Development Network, SCORE, and the Chamber of Commerce. The chamber creates an extended network of opportunities for members to do more business. Birmingham’s Business Resource Center is an organization that makes it a one stop center for business finance and other business related support. It brings together support for most business needs all in one place.