Top 5 Business News Stories Making Headlines in Birmingham
The city of Birmingham, often referred to as the Industrial Capital of the South, is home to a vibrant business community. Here are the top five business news stories, making headlines in Birmingham today.
1. Birmingham’s Economic Growth Continues at a Steady Pace
Birmingham’s economy has been growing steadily over the past few years, with the city’s gross domestic product (GDP) reaching $31.9 billion in 2019. The city’s unemployment rate is currently at an all-time low of 2.7%, and the city continues to attract investments from large corporations such as Amazon and Mercedes-Benz. Birmingham’s economic growth has also led to an increase in the average income of its residents, with the median household income rising to $56,689 in 2019.
2. Alabama-Based Shipt Partners with New Retailers
Shipt, the Alabama-based grocery delivery service that was acquired by Target in 2017, has announced new partnerships with Slackers, Fresh Market, and Lund Food Holdings. Shipt’s partnerships with these retailers have helped the company expand its reach beyond its traditional markets. Shipt founder Bill Smith said that the company intends to grow beyond just grocery delivery and to expand into other areas of retail.
3. Birmingham Launches New Efforts to Attract Tech Startups
The city of Birmingham has launched a new campaign to attract technology startups to the area. The city’s economic development team is working to create an environment that will help attract technology firms by offering resources such as mentorship, office space, and networking opportunities. Birmingham’s efforts to attract technology startups are part of a larger effort to diversify the city’s economy and attract more high-paying jobs.
4. Birmingham’s Education Sector Continues to Thrive
Birmingham’s education sector has been growing rapidly over the past few years. The city is home to a number of colleges and universities, including the University of Alabama at Birmingham (UAB), which is one of the largest employers in the city. UAB has recently announced plans to invest $500 million in its campus over the next five years, which will include the construction of a new research building and a new student center.
5. Birmingham Named as a Top City for Small Business
Birmingham has been named as one of the top cities for small business in the United States. A recent survey conducted by the website Thumbtack ranked Birmingham as the fourth-best city in the country for small businesses. The survey looked at factors such as ease of starting a business, tax regulations, and availability of resources. Birmingham’s ranking on the list is a testament to the support the city offers to small business owners and entrepreneurs.
Conclusion
Birmingham’s business community is thriving, with economic growth, startups, education, and small businesses all making headlines in the city. With an environment that fosters growth and development, Birmingham is set to continue to grow and attract investments from corporations and entrepreneurs alike.
