Top Headlines: MacLean expansion in Alabaster, Birmingham business district revitalization

MacLean Power Systems plans $5.3 million expansion in Alabaster
MacLean Power Systems has announced a $5.3 million to upgrade its Alabaster foundry. The project is expected to create an unspecified number of new jobs. The facility currently employs 90. The company, based in South Carolina, said the expansion will bring advanced aluminum mold making and mold handling operations to the foundry, which currently furnishes aluminum casting and fiberglass products finishing and assembly. –

Birmingham’s historic 4th Avenue Business District to revitalize
Main Street Alabama has picked Birmingham’s historic 4th Avenue Business District for its revitalization program. Organizers believe the designation will help in ongoing efforts to bring new business and attention to the city’s historic black business district. Calera, Enterprise and Henry County’s Headland were also selected as Designated Communities, with work beginning immediately. –

Medical marijuana bill to get a year of mellow contemplation
Alabama lawmakers voted to create a medical marijuana commission that will make recommendations for a bill they might consider in the 2020 legislative session. The measure was a compromise after an original MMJ proposal hit opposition in the state House of Representatives. The study commission bill now goes to Gov. Kay Ivey. – Marijuana Business Daily

What lawmakers didn’t do this session: (Hint: lottery)
Alabama state lawmakers wrapped up the legislative session Friday after several long nights and intense debates. Lawmakers passed bills including abortion, the gas tax and medical marijuana. Republican leaders called this one of the most difficult yet productive sessions they have ever had. Senate President Pro Tem Del Marsh, R-Anniston, said he would rate the session between a B plus to an A minus. – WBRC

Regions executive tapped for Synovus position
Synovus Financial Corp. is hiring a Regions executive as its next chief financial officer. The Columbus, Ga.-based bank today announced Jamie Gregory is its new executive vice president and CFO effective June 24. Gregory currently serves as executive vice president and head of corporate financial strategy for Regions Financial Corp. –

- Sponsor -

Alabama joins many other states in regulating fantasy sports
Alabama has become the latest state to tax and regulate fantasy sports contests. Sports fantasy operators must register with the state Office of Attorney General and pay a 10.5% tax on entry fees they get from state residents that play the games, under a bill (H.B. 361) Gov. Kay Ivey (R) signed into law May 31. Rep. Kyle South (R), the bill’s sponsor, said the fees and taxes will generate about $4 million in annual revenue. – Bloomberg Tax

Central Six sponsors first IT Apprenticeship Employer Signing Day
For the first time ever, a federally recognized IT apprenticeship consortium has been formed in Alabama through a partnership between Central Six AlabamaWorks and Innovate Birmingham. This apprenticeship program is intended to help meet the workforce needs of software developers. Two companies, Sigao Studios and Protective Life, formally signed letters of intent to employ apprentices after they complete the 14-week pre-apprenticeship bootcamp course at Innovate Birmingham. – News release

High court to begin hearing Hubbard appeal this morning
The Alabama Supreme Court will hear oral arguments Tuesday morning in former House Speaker Mike Hubbard’s appeal of his conviction on ethics charges. The prominent Republican was convicted in 2016 of improperly receiving consulting contracts and business investments from company executives. – WHNT

The latest Alabama business news delivered to your inbox