Top Headlines: Pentagon investing in Austal shipyard, Cities compete for new residents

Pentagon to invest $50 million in Austal shipyard
The US Department of Defense will invest $50 million in boosting capacity at Austal’s shipyard in Mobile. The move will help the company develop capacity to build steel-hulled warships for the U.S. Navy, in addition to the aluminum ships the shipyard has been producing for over a decade. — Australian Financial Review

Cities offer cash as they compete for new residents amid remote work boom
Incentives were once reserved for employers. Now remote workers can receive up to $15,000 for relocating to certain small cities…. Many of these programs aren’t new. In 2018, the city of Tulsa, Oklahoma launched an incentive program that offered 250 remote workers $10,000 to relocate there. Last year Vermont, The Shoals region of Alabama, and Topeka, Kansas all launched similar programs, offering remote workers between $5,000 and $15,000. — Fast Company

Revere Plastics Systems acquires Auburn’s Techniplas plant
Revere Plastics Systems, LLC, a manufacturer of highly-engineered plastic injection molded parts and assemblies, has acquired the Auburn, Alabama and Ankeny, Iowa facilities of Techniplas, LLC. Revere purchased the assets through the Techniplas 363 bankruptcy sale process. — Press Release

Two companies win Alabama Launchpad’s virtual finale
Two startup companies won a combined $150,000 in nondilutive funding in Alabama Launchpad’s recent 2020 Cycle 2 competition held on June 11.  The Economic Development Partnership of Alabama held its Alabama Launchpad Finale online, streaming on Facebook Live and — Alabama Launchpad

Alabama’s May unemployment rate falls to 9.9%
Alabama Department of Labor Secretary Fitzgerald Washington announced Friday that Alabama’s preliminary, seasonally-adjusted May unemployment rate is 9.9%, down from April’s REVISED rate of 13.8%, and above May 2019’s rate of 3.0%. May’s rate represents 221,811 unemployed persons, compared to 302,535 in April and 68,057 in May 2019. — Alabama Department of Labor

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Austal USA awarded $43M littoral combat ship contract modification
The United States Department of Defense has awarded Mobile-based Austal USA a modification to a previously awarded Littoral Combat Ship contract. The modification provides Austal with a total potential additional value of US $43,362,000. Work is expected to be complete by June 2021. — Navy Recognition

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