Payroll Gains in Birmingham Expected to Double in 2016, Supporting Renter Demand
Employment growth in Birmingham is improving as twice as many jobs are created this year compared to 2015. Driven by the professional and business services, and leisure and hospitality sectors, the pace of gains will surpass the national rate modestly. Although manufacturers have pared jobs during the past 12 months, this sector will create new positions going forward, particularly in the automotive industry. At the end of the second quarter, auto-parts supplier, Kamtek announced plans to invest $350 million into the Birmingham economy, which will support more than 300 new jobs. Other manufacturers expanding operations in the region include Eismann Automotive, which will add 200 jobs to the Birmingham suburb of Pell City. Finally, one other major subsector growing the Birmingham economy is the bioscience industry. Regional manufacturer, Oxford Pharmaceuticals, recently opened a new $29 million facility which will create as many as 200 new positions. These core positions will support further growth in support industries[…]
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