banner

Blog

Diversification Fuels Strong Economic Growth

The Business View – August 2016 / From the Publisher

Bill Sisson_2014_lowWhen asked what makes me most proud about the local economy, I always say without hesitation it is our diversified business community. It indicates not only what we produce locally, but also what we sell to the rest of the world. As a top 10 U.S. port we are in a competitive position to carry out international business.

 

Mobile’s business sector with the most growth potential is undoubtedly aviation/aerospace. This is being driven by strong demand in the United States and the world for aircraft and parts.

 

The continued success and growth of Airbus, Continental Motors, Star Aviation, and VT MAE is good news for their suppliers. Thankfully, it doesn’t stop there.

 

Another strong growth sector is chemicals which account for roughly 37 percent of our total exports. Throw in the continued success of our steel industry, shipbuilding, tourism and port-related transportation projects, and it’s easy to see why Mobile’s economic growth and the exports associated with it should be up for the foreseeable future.

 

The Mobile Area Chamber’s economic development strategic plan still calls for ensuring economic prosperity over the long term by fostering and retaining a diversified economy. It has been our region’s key to job growth and will provide economic stability for generations to come.

 

Click here to read The Business View – August 2016