| Aerospace Key Industry in Alabama |
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June 23, 2010 -- Aerospace industry in Alabama continues to contributegreatly to the state’s economic success according to an industry profile released by the Alabama Aerospace Industry Association(AAIA). The study indicates that Alabama’s aerospace industry experiencedbetter than average growth during the economic expansion of the last decade. According to the research findings, aerospace and defense industry employment grew 13.1% between the period 2002-2008, twice the rate of Alabama’s total non-farm employment (5.8%). The aerospace payroll impact on Alabama grew by more than a third (37%) during the same period. The growth of the industry came from both existing company expansions as well as new companies locating in Alabama. The aerospace and defense industrial base in Alabama is a major job provider with a record total 280 companies in 2008. With the economic recovery and growth after 2002, Alabama realized an average annual growth of total aerospace and defense companies of 6% with this rate growth in the 2000’s second only to the 18% growth of the industry experienced from 1980-1990. In 2008, aerospace companies, their suppliers and the federal government aerospace and defense programs in Alabama represented approximately 8% of Alabama’s total non-farm employment and contributed more than $8 billion in payroll to the economy. The industry profile encompasses the aerospace and defense industrial sectors to include all major areas of the industry and its support systems. The four top sectors that comprise more than 80% of Alabama’s total 2008 aerospace employment are: (1) Engineering, Research & Development; (2) Maintenance, Repair & Overhaul; (3) Information Technology; and (4) Missile & Space Vehicle Manufacturing. AAIA chairman Gregg Ferrell commented, “The aerospace industry continues to provide opportunities and good, well paying jobs in Alabama. The aerospace job growth from 2002-2008 in the state outpaced Alabama’s overall job growth by 2 to 1. All the industry sectors from Defense to Maintenance, Repair & Overhaul experienced growth. Alabama’s aerospace companies are poised to resume this growth as our economy recovers.” To view the report, click . |