Editorial: Economic Impact - WSFA.com: News Weather and Sports for Montgomery, AL.

Editorial: Economic Impact

Posted: Updated:
By Collin R. Gaston - bio | email

  • Editorials

  • Tuesday, June 18 2013 7:20 PM EDT2013-06-18 23:20:03 GMT
    The U. S. Supreme Court is expected to rule as soon as Thursday on a suit filed by Shelby County to strike down Section 5 of the 1965 Voting Rights Act. Section 5 requires that the Justice Department pre-approve
    The U. S. Supreme Court is expected to rule as soon as Thursday on a suit filed by Shelby County to strike down Section 5 of the 1965 Voting Rights Act.

  • Thursday, June 13 2013 7:20 PM EDT2013-06-13 23:20:09 GMT
    Summertime is sun, fun, beaches, mountains, swimming pools, golf courses and yes for those in school, a break. But it can also be a special time to create lasting memories for families with children around
    Summertime is sun, fun, beaches, mountains, swimming pools, golf courses and yes for those in school, a break. But it can also be a special time to create lasting memories for families with children around

  • Tuesday, June 11 2013 7:20 PM EDT2013-06-11 23:20:09 GMT
    The recent Map the Meal Gap report issued by Feeding America highlighted what we at the Montgomery Area Food Bank have been witnessing over the past several years- more families than ever are in need of
    The recent Map the Meal Gap report issued by Feeding America highlighted what we at the Montgomery Area Food Bank have been witnessing over the past several years- more families than ever are in need of
    •   
MONTGOMERY, AL (WSFA) -

If you've had the opportunity to tour the Montgomery Hyundai Motor Manufacturing plant you've participated in the following chant directed towards team members led by an enthusiastic tour guide – 1, 2, 3 Hyundai!

Following the results of a study released on Wednesday that chant might soon be changed to 3 point 8 Hyundai!   That's $3.8 billion to be exact – which is the total economic impact for our state in 2010.  To be clear – that's not $3.8 billion since the plant opened but $3.8 billion last year.  A very impressive number indeed and well ahead of economic impact expectations when this deal was announced back in April of 2002.

In 2010 HMMA employed approximately 2,760 employees with a payroll of over $188 million dollars which works out to an average of over $68,000 per employee. Compare that to the 2009 HUDD data showing the Montgomery Metro's average take home pay at $22,449 and you can see why so many wanted this plant in our backyard.  

Our hope for the future is that state and local government officials continue to aggressively seek out these high profile companies and make a strong and compelling case for Alabama.  We also hope that Alabama taxpayers will continue to support and understand the significant investments needed on the front end of these deals and weigh them against the significant benefits on the backend as we are seeing now.

We as always appreciate and encourage your feedback.

Copyright 2011 WSFA 12 News. All rights reserved.