Dr. O’Neal Smitherman speaks to the crowd at the 2008 Economic Development Summit.

“Our community continues to enjoy nearly unparalleled economic growth. We know that Huntsville/Madison County continues to lead the state in announced jobs. We have led this category in 15 of the last 18 years. That is sustained, measurable growth,” said Evans Quinlivan, chair of the Chamber’s Board of Directors.

Quinlivan also noted that the Huntsville/Madison County community has one of the most favorable economies of any community in the country in a state that is considered to have the best economic outlook of any state in the country.

Speakers at the Economic Development included:

Loretta Spencer, Huntsville Mayor, who discussed the remarkable growth at Cummings Research Park, the nation’s second largest research and technology park.

Don Nalley, the Chamber’s vice chair for economic development, who updated attendees on the status of economic development in Huntsville/Madison County and how this compares with the rest of the state and against other technology cities across the country.

Mike Gillespie, Madison County Commission Chair, who along with Jerry Craig, Madison County Commissioner, Blake Dorning, Madison County Sheriff and Rusty Russell, Madison County Emergency Management Agency Director, discussed what the county is doing to plan and prepare for the phenomenal growth that is currently occurring and which is expected to continue in the coming years.

Jim Bolte, the Chamber’s vice chair for workforce, talked about what the Chamber is doing to pave new roads in its innovative workforce recruitment and development efforts with a model that is becoming the benchmark for other communities across the country.

Additional speakers included Todd Hutto, representing the U.S. Army Garrison, and Joe Ritch, the chairman of the Tennessee Valley (TV) BRAC Committee, both of whom discussed why the 2005 BRAC at Redstone is considered the largest economic development project in the state’s history. Ritch also thanked the North Alabama legislators who were able to secure $750,000 from the state to help in efforts to recruit BRAC-related employees to this region.

Rick Tucker, who is responsible for the overall management of activities with the Port of Huntsville, which includes Huntsville International Airport, the International Intermodal Center and Jetplex Industrial Park, spoke about transportation issues in this dynamic economy.

The Summit ended with a noteable keynote address from Dr. O’Neal Smitherman from the HudsonAlpha Institute for Biotechnology who gave an update on one of the world’s most innovative biotechnology institutes and, in the words of Alabama Governor Bob Riley, one of the most important economic development initiatives in the state’s history.

“In 2007 we achieved 4,181 jobs and $183 million in capital investment against our goal of $150 million. Cumulatively, our four-year results show 19,847 jobs created against a goal of 10,000, or 2,500 jobs per year. Similarly over that same four-year period, we’ve had $1.3 billion in new capital investment against a goal of $600 million, or $150 million per year. This is just a snapshot of the incredible economic growth we are experiencing right now. We should all be proud of this achievement – it takes a special community to build an economic engine like this,” said Nalley.