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Birmingham Business Journal
Alabama company launches, providing AI defense solutions
A new company that launched this summer from Huntsville aims to provide AI solutions for defense and federal partners. <\p> Strategic AI Services, or SAS, focuses on delivering end-to-end artificial intelligence (AI) services from concept to deployment, hoping to address specific needs in the Department of Defense (DoD) sector and other departments.<\p>
Church of the Highlands makes $4.6M land acquisition
Church of the Highlands has continued its expansion in the state through a property acquisition. <\p> The Birmingham-based church has acquired roughly 27 acres near the intersection of Disc Drive on Highway 181 in Daphne. <\p>
Apartment renters seeing price relief as landlords sweeten deals
Rental rates on some apartment types slipped in July compared to the same time a year prior, the first time that's occurred since June 2020 — the height of the Covid-19 pandemic.<\p> Median asking rents for studios and one-bedroom apartments fell 0.1%, two-bedroom apartments fell 0.3% and units with three or more bedrooms fell 2.4% between July 2023 and July 2024, according to Redfin Corp. (Nasdaq: RDFN). <\p>
California company finds success in Birmingham, launches nationally
A California-based surgical solutions company is scaling its model nationally after finding success in Birmingham’s health care ecosystem. <\p> Informed+ Surgical launched its surgeons of excellence model in Birmingham and, following its success, will soon be expanding it to 10 major markets over the next six months. <\p>
City launches new tax, license website for businesses
The city took a step to streamline compliance for local businesses this week.<\p> Birmingham’s tax and license division has introduced a new online tax and license system designed to simplify compliance for local businesses. Businesses already registered with the city’s tax and license system can enroll in the network until Sept. 9. New businesses are not yet eligible to enroll.<\p>
Regions Bank names new market leader for major Southeastern city
Regions Bank has named Scott Wall its new Orlando market leader. <\p> The bank, which is part of Birmingham-based Regions Financial Corp. (NYSE: RF), on Aug. 12 named him to the role, along with being its commercial banking executive for Central Florida. Wall has been part of Regions’ Orlando team for the last seven years, most recently as commercial banking leader.<\p>
Alabama companies secure dozens of spots on Inc. 5000 list
Dozens of companies from Alabama have made it on this year's Inc. 5000 list.<\p> For 2024, 46 Alabama companies made the list. It is a drop from 49 in 2023 and drop from 60 in 2022 as well as 75 in 2021 and 73 in 2020.<\p>
Macy’s leaving Galleria, retail space now on market
A major retailer has revealed it will be closing its doors in Hoover’s Galleria mall.<\p> According to a report by WVTM 13, former manager of Riverchase Galleria Mike White said that Macy’s will be closing at the end of 2025. <\p>
Cullman manufacturer buys 50 acres in Leeds
The owners of a Cullman manufacturing facility have acquired over 50 acres of land in Leeds.<\p> BBLU Properties LLC bought an undeveloped, 51.3-acre parcel from U.S. Steel for $3.7 million on July 31, public records show.<\p>
United Ability-founded company opens up for franchising
A shredding service based in Birmingham is opening up for franchise opportunities. <\p> Gone for Good, which was launched in 2006 to offer meaningful employment for adults with intellectual and physical disabilities through document and e-waste solutions, is now ready for expansion. <\p>
Guest notebook: A college student's thoughts on returning home to Bham
“How does it feel to be back home?”<\p> After completing my first year at Georgetown University this past spring, I came home to Birmingham for the summer. Undoubtedly, this has been the most common question I have been asked. While the home-cooked meals and absence of shower shoes were certainly part of the attraction of returning home, I was initially less than enthusiastic about the prospect of returning to Birmingham for three and a half months.<\p>
Regions plans portable branch facility for major Southeastern hub
Regions Bank is planning a portable branch facility for major Southeastern hub while growing Alabama banks are branching out, including one to Mississippi. <\p> Smaller cities are seeing bank movement as well in Alabama. <\p>
UAB spearheading rural Alabama dental clinic initiative
UAB is bringing a new dental clinic to the state in an effort to help address Alabama’s dental crisis. <\p> The University of Alabama at Birmingham (UAB) School of Dentistry will open a new satellite clinic in Decatur in 2026 for patients in rural North Alabama. Funding for the project will be provided by the state of Alabama and is pending approval of the UA System Board of Trustees. <\p>
Luxury car dealership closes doors in metro Birmingham
A multiple-franchise car dealership near Irondale has closed, and a local dealer is set to buy its land.<\p> Maserati of Birmingham, Alfa Romeo of Birmingham and Fiat of Birmingham closed its facility at 1837 Grants Mill Road within the past week.<\p>
Companies are spending billions for an employee benefit not being used
Workers are leaving the equivalent of hundreds of billions of dollars a year on the table in the form of unused vacation days, and employers increasingly are a paying a price for those decisions.<\p> Financial firm Sorbet surveyed 1,500 American workers over the age of 21 and found that 62% of those employees didn't use all their paid vacation time last year. That's up from 57% who didn't use all their available time off in 2022 and nearly double the rate from four years earlier, according to Sorbet. <\p>
The National Observer: Watchers warn of vicious circle in U.S. economy
Welcome to The National Observer, a roundup of top business news and actionable insights from across The Business Journals network of publications. We're getting into the reason many companies are laying off more workers than they might need to, a solar cell manufacturer's new $1 billion project, and a higher education company's big bet on remote and hybrid learning. But first, let's look at concerns by Wells Fargo economists about a vicious cycle downturn in the U.S. economy.<\p> Get more stories like these every day in your inbox by subscribing to The National Observer newsletter. <\p>
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