Tier 1 Hyundai supplier coming to Selma
Published 12:00 am Sunday, August 15, 2004
Gov. Bob Riley is coming to Selma on Monday for a major announcement about the future of this city’s economy.
The Selma and Dallas County Economic Development Authority says a Tier 1 Hyundai supplier will be locating to Selma, bringing with it new jobs and an added boost for the area.
Wayne Vardaman, president of the Centre for Commerce, would not release the company’s name or how many jobs it will create before a press conference with the governor at 10:30 a.m. at #1 Meadowcraft Parkway in Craig Field.
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A Tier 1 supplier means the company’s products will be sent directly to the Hyundai Motor Manufacturing in Montgomery.
“We want to invite the public to come out and hear this governor’s announcement,” Vardaman said.
This is the second time this year the Selma and Dallas County EDA and TEAM Selma, a group of city and state officials who have been working to recruit industry, have welcomed a Hyundai supplier to the area.
Several months ago the Renosol Corporation, a Tier II automotive supplier and producer of polyurethane foam seats and interior trim, chose to build a manufacturing plant in Selma.
The plant is currently under construction at Craig Field.
News of this new company locating in Selma comes days after Riley visited a business summit at Wallace Community College to discuss his Black Belt Action Committee.
Riley appointed almost 100 people to the committee’s panels, making them responsible for establishing programs to improve education, healthcare, and industry in the Black Belt.
During the business summit, Riley said he was tired of the numerous studies on the Black Belt economy and wanted to put plans into action.
“We have talked about theory and vision. Now it is time to go in and say ‘if the unemployment is a 10.2 percent, we are going to do everything we can to make it eight or nine percent.'”
According to the Alabama Department of Industrial Relations, the unemployment rate in Dallas County was 13.4 percent in June. While the figure was up from May’s 10.3 percent, it was unadjusted for an increase in unemployment rates that often occurs over the summer. Compared to last year’s rate – 15.2 percent – this June’s rate is significantly lower.
According to Vardaman, 200 jobs must be added to Dallas County’s local economy to bring the unemployment rate down 1 percent.
Riley said his committee will be working with city officials to continue bringing new industry to the area.