Prattville buys property, but for what?
The Prattville City Council has agreed to buy a piece of property for $1.3 million, but leaders won’t say why, referring to the purchase only as “Project KATZ.” State law allows local governments to buy property without disclosure until 60 days after the deal closes. – Alabama Today
Alabama Launchpad finalists selected
Eleven finalists have been named for the third cycle of 2021’s Alabama Launchpad, the startup competition presented by the Economic Development Partnership of Alabama. During the virtual finale on Nov. 17, the finalists will compete in two categories: concept stage, where companies are pre-revenue generating; and early seed stage, where companies are looking to accelerate growth. – AL.com
Allen Ritchie has been elected president and CEO of Altec Inc., one of Birmingham’s largest privately held companies. Ritchie will report to the ownership council, comprised of Lee Styslinger III, Jon Styslinger and Mark Styslinger, all of whom have been named co-chairmen of Altec’s Board of Directors. The Styslingers’ grandfather founded Altec in 1929. – Altec
Motorsports park planned for Baldwin County
Investors have paid $2.85 million for 950 acres in the Elsanor area of Baldwin County. That goes with 1,000 acres the investors already own. The plan is for an off-road/motorsports park on the property. – AL.com