16 December 2002
16 December 2002
US Astronautics (USA) has signed a letter of intent wit the Shoals Economic Development Authority for the construction of a Solid Rocket Motor (SRM) facility and Composite Center in North Alabama - one of the world's leading centers for advanced aerospace industry.
Local, State and Federal delegations of the region have pledged their support and commitment to the completion of the 1,400-acre USA facility, which has also garnered the support of local landowners and neighboring manufacturing companies.
Interested in the economic development of Cherokee Alabama, local and state communities have gained overwhelming support from targeted corporations to assist in bringing USA and its employment opportunities to the area.
USA foresees the creation of more than 600 + jobs, and with the help of the Alabama Industrial Development Training Program, will make these jobs available to the people of northern Alabama. ""The very nature of our business dictates the type of high-level, technological positions we will be looking to fill, said USA Executive Bud Stacy. There are some extraordinary opportunities for higher wages, which we believe will further strengthen the state's already strong aerospace employment sector.""
The immediate demand for efficient, lower cost launch services has placed USA on a fast track schedule. USA's primary customer, E' Prime Aerospace requested the company meet a March 2003 deadline to begin construction on the plant. With an estimated $300 million startup budget, and the availability of rail, sewer, gas and power on the Cherokee site, this date could possibly be moved up.
Cobra International has started mass production of the new Windsurfer LT board.
New Zealand company Revolution Fibres is tripling nanofibre production to meet increased international demand from a range of industries, from cosmetics manufacturers through to Formula One teams.
US company Web Industries has opened its first European sales office in Hamburg, Germany.