Magazine puts Shoals among best in business

The Shoals has been recognized for its recent economic development successes by a business magazine that circulates in 17 states.

Southern Business & Development magazine ranks the Shoals as one of the "Top 10 Comeback Kids" in its Winter 2008 publication.

Also, in an upcoming edition that publishes in late June, the magazine will list the Shoals as No. 4 among the nearly 3,000 small markets in the region in terms of economic development success in 2007.

"Alabama, in general, is doing well, and the Shoals has shown to be a very attractive place for economic development," said Michael Randle, who researched and wrote the stories. "It's real obvious that the Shoals has been extremely successful.

"At no time over the past 15-16 years that we have been covering the South has the Shoals done better."

The magazine keeps track of all significant economic development announcements in the South. That data is a key component in the rankings, said Morgan Holiday, assistant to the publisher.

In the "Comeback Kids" article, the Shoals is rated second in the top 10 listing behind Augusta, Ga. Others on the list are Martinsville, Va., Danville, Va., LaGrange, Ga., Elmore County in Alabama, Little Rock, Ark., Lake Charles, La., St. Louis and Kansas City.

The article mentions that the area's double-digit unemployment rate in 2001 has fallen to about 4 percent. It touts the successes of attracting National Alabama, North American Lighting, Walgreens and SCA Tissue to the Shoals.

"That's a comeback of note," the article concludes.

Holiday said the record shows that the Shoals has "become a major player in economic development."

Community leaders view the magazine as positive recognition of the area's unified approach to recruiting industry.

"I was excited that the Shoals area got recognized for its accomplishments over the past eight years," said Muscle Shoals Mayor David Bradford. "The article talks about the number of manufacturing jobs lost in the '80s and '90s and how things have started turning around.

"The way the Shoals is working together as a unit has played a big role in our recent success. We began working on the (Retirement System of Alabama) project in 2001 and it just kept going with SCA Tissue, Walgreens, North American Lighting and National Alabama."

In the upcoming edition ranking the top small-market performers in 2007, the Shoals is joined in the top five by two Mississippi cities, one in Georgia and one in Texas. The magazine defines a small market as any metropolitan area with less than 200,000 residents.

Randle said a point system was developed to determine the list.

"Each year, we track and rank all deals involving 200 jobs or more, an investment of $30 million or more, or both. Areas receive votes based on the size of the deals."

The Shoals saw several expansions of existing industry in 2007, but the big project was the 1,800-job National Alabama railcar plant.

Like Bradford, Shoals Economic Development past chairman Macke Mauldin praised the united effort among the area's elected officials and private leaders. He also cited the work of SEDA Executive Director Forrest Wright, Assistant Director Susie Heird and other SEDA staff members.

"We focused on pulling ourselves up and putting ourselves in a position of controlling our own destiny," Mauldin said. "This recognition is a reflection of a lot of hard work by a lot of people.

"And I don't think we have realized our full potential. (With the economic incentive fund), we are now in a position to be proactive instead of reactive in economic development."

Bradford said the key for future success is continuing to work and develop the area's resources. The collection of a half-cent sales tax for economic development should assist that effort, he said.

"Now that we have a mechanism to help promote these incentives, it really gives us an upper hand with other communities to go after the jobs we want to see come here," Bradford said. "We need to keep the momentum going."

Bernie Delinski can be reached at 740-5739 or bernie.delinski@timesdaily.com.