As the U.S. economy continues to regain momentum, the Huntsville community also turned the corner over the past year. Job levels have returned to pre-recession levels for the first time since 2008, and employment in Huntsville is at a 6-year high. Our chamber of commerce announced most of this pent-up demand in the manufacturing and service centers for the national economy.
In total, local employment has grown 1.6% over the past year. With the recent announcement of Polaris opening an advanced manufacturing campus in Huntsville and creating over 2,000 new jobs, there have been over 5,100 new jobs over the past 12 months. Here are a few more companies that have recently announced expansion plans in the area:
- Remington Firearms is establishing a new manufacturing/research and development facility, which will account for 2,000 new jobs and over $110 Million in investments. Production is ramping up to make this the premier factory location in the U.S. for Remington.
- SES Incorporated, a company that refurbishes military helicopters, has plans to add another 450 employees and $70 Million in investments over the next three years.
- Verizon Wireless and West Teleservices also announced 600 new call center jobs to the Huntsville economy.
- Torch Technologies just announced plans to expand their current campus by 90,000 sq ft, and add another $15 Million in investments to our economy.
Even more companies are adding jobs to our economy right now, including GE Intelligent Platforms, Curves Incorporated, NTS, Nektar Therapeutics, and Deloitte consulting. This is a good indication of the vast variety of diversified industries that are coming to Madison County and Huntsville.
The Huntsville metro is expected to experience strong long-term growth over the next 5 years, capitalizing on government and defense activity, and its ability to attract a younger and educated population.
If you have any questions for us about the local economy or the real estate market in general, give us a call or send us an email. We look forward to hearing from you!
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