Officials to make 'major announcement'

A news conference is scheduled Wednesday morning to announce the Shoals has landed a major industry that will employ at least 1,500 people, the TimesDaily has learned.

Shoals Economic Development Authority officials began notifying the media about the announcement Monday afternoon.

A press release states that a "major announcement" will be made at the Marriott Shoals Conference Center in Florence. SEDA officials declined to comment on whether the announcement involves a railcar manufacturing company that has been eyeing the Shoals for more than a year.

The TimesDaily reported Sunday that the company, which will build freight and other railcars, has decided to build a large plant at Barton Riverfront Industrial Park in Colbert County. The park is just off U.S. 72, about 12 miles west of Tuscumbia.

The plant could be a mile long and at least 400 feet wide.

Sources said the company will be a part of National Steel Car of Hamilton, Ontario, but will operate under a different name. National Steel Car has been operating in Canada since 1912.

Gov. Bob Riley is expected to be among numerous officials who will be on hand to make the announcement.

Riley will likely be joined by state legislators who represent the Shoals as well as U.S. Rep Bud Cramer, D-Ala., and possibly U.S. Sens. Richard Shelby and Jeff Sessions, both Alabama Republicans.

Particulars about the amount of investment being made by the company were not available Monday.

As many as 1,800 people could work at the plant, sources have told the TimesDaily.

The economic impact of the project could top $200 million annually, according to economic officials at the University of North Alabama.

That projection is based on the average salary of employees being $15 per hour, which would bring the company's annual payroll to about $50 million.

The company also pays quality benefits, according to officials involved in the project.

Dr. Kerry Gatlin, dean of the College of Business at UNA, said the biggest unknown in figuring the impact is the amount of money the company will spend locally for supplies.

It's also unclear how many additional businesses will spring up to support the operation.

"There may be more jobs created outside the plant because of the plant itself,'' Gatlin said. "This has the potential to be a real big hit for our local economy. It's not going to surprise me if it's more than $200 million annually when it's all said and done.''

Construction workers also will be heavily involved and will spend money in the community.

At $15 per hour, the average worker will make just over $30,000 a year.

Tom Smith can be reached at 740-5757 or tom.smith@timesdaily.com.