Alabama-built vehicles are blazing a trail in the global economy, ranking as the state’s top export product and serving as a brand ambassador that landed in 73 foreign countries in 2021. More than $7.7 billion in Alabama vehicle exports were recorded in 2021, topping the total from pre-pandemic 2019 by more than $1 billion, according to data from the Alabama Department of Commerce. Overseas shipments of motor vehicles rose 38.4% in value from 2020’s total of $5.5 billion. Increased motor vehicle exports represent an encouraging sign for Alabama’s auto industry, which experienced a 17% declin ..read more

Moses Feagin has been elected executive vice president, chief financial officer (CFO) and treasurer of Alabama Power. The appointment is effective March 1. Feagin will be responsible for overseeing the Finance, Accounting and Treasury departments, replacing Phil Raymond, who announced his retirement in December 2022. Feagin returns to Alabama Power from Mississippi Power, where he has served as senior vice president, treasurer and CFO since 2010, and as chief diversity officer since 2016. He began his Southern Company career with Alabama Power in 1987 as a junior accountant, working his way ..read more

Sales: According to the Mobile Area Association of Realtors, December home sales in the area decreased 44.8% year-over-year (Y/Y) from 536 to 296 closed transactions. Sales decreased 6.9% from November. Sales were down 15.3% overall in 2022. Two more resources to review: Quarterly Report and Annual Report. For all Mobile-area housing data, click here. Inventory: December listings (957) increased 14.8% from November and 86.9% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.2 months, up from 2.6 months in November and 1 month in December 202 ..read more

For Alabama-based manufacturer Sealing Equipment Products Co., or SEPCO, selling its mechanical seals, gasketing materials, compression packing and other high-performance products in markets around the world has become a core element of its business. SEPCO ships products to customers in about 40 countries, and Chief Executive Officer Chris Wilder is hoping to expand its exporting activities. “We have maintained a robust exporting program for a number of years and have always had the attitude that only 20% of our potential market is in the U.S.,” he said. As he works to expand SEPCO’s exports ..read more

Sales: According to the Montgomery Area Association of Realtors, December home sales in the area decreased 33.8% year-over-year (Y/Y) from 548 to 363 closed transactions. Sales decreased 0.6% from November. Sales were down 14.8% overall in 2022. Two more resources to review: Quarterly Report and Annual Report. For all Montgomery-area housing data, click here. Inventory: Homes listed for sale increased 52.8% year-over-year from 582 to 889 listings. Months of supply increased from 1.1 in December 2021 to 2.4 in December 2022, reflecting a market where sellers generally have elevated bargaining ..read more

Alabama exports are bouncing back from global trade frictions and disruptions caused by the COVID-19 pandemic that interrupted years of upward momentum for overseas shipments of Alabama-made goods. While full-year results are not yet available for 2022, trade data shows that Alabama exports approached $23.4 billion in value through November — a figure that already eclipses the annual record of $21.7 billion, set in 2017. That’s good news for Alabama businesses that export their products to an international customer base because it suggests the strong recovery made during 2021 is accelerating ..read more

Each year, students throughout the U.S. spend a part of their day in workplaces during National Groundhog Job Shadow Day, typically observed on Feb. 2. But some Alabama students got an early start on Jan. 27 by taking part in the Walker County Chamber of Commerce Job Shadow Day. More than 340 students from the Jasper City School District, Walker County Schools and Sumiton Christian School joined in the initiative designed to help them with career planning. The 11th graders enjoyed an opportunity to explore the “world of work” at businesses and industries throughout the county. Alabama P ..read more

Sales: According to the Cullman Association of Realtors, December residential sales decreased 35.1% year-over-year from 131 to 85 closed transactions. Following seasonal trends, sales increased 7.6% from November. Sales were down 12.6% in 2022. Two more resources to review: Quarterly Report and Annual Report. Inventory: Total homes listed for sale in December increased 51% year-over-year from 200 to 302 listings. Months of supply (inventory to sales ratio) decreased from 4.2 months in November to 3.6 months in December, reflecting a market where sellers generally have elevated bargaining pow ..read more

Sales: According to the Baldwin Realtors, December residential sales decreased 43.3% year-over-year (Y/Y) from 850 to 482 closed transactions. Sales decreased 2.6% from November and were down 13% in 2022. Two more resources to view: Quarterly Report and Annual Report. For all of Baldwin County’s housing data, click here. Inventory: December listings (1,822) decreased 4.8% from November and increased 60.8% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.8 months, down from 3.9 months in November and up from 1.3 months in December 2021. The ..read more

Gov. Kay Ivey announced Friday that Resicum International, which provides flight training and maintenance support to government, commercial and general aviation customers, plans to open an aviation training academy at Craig Field in Selma that will prepare the next generation of industry professionals from around the world. Resicum plans to invest $1.3 million and create 70 jobs over a three-year period at its new operational hub at the former U.S. Air Force base in Dallas County. The jobs will pay an average wage of $30 an hour, not counting benefits. The Craig Field Airport & Industria ..read more