Business Alabama: Protective Life acquires New York-based insurance company

Birmingham-based Protective Life Corp., a subsidiary of Dai-ichi Life Holdings Inc., is acquiring ShelterPoint Group Inc., a New York-based holding company of ShelterPoint Life Insurance Co.

ShelterPoint is a provider of disability benefits and paid family leave insurance, which employers are required to provide under New York state law. ShelterPoint also has been actively expanding. Through its relationships with approximately 200,000 businesses, ShelterPoint currently provides insurance and income replacement products to nearly 2 million individuals across the United States.

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Once closed, pending regulatory approvals and customary closing conditions, it will be the seventh deal completed since Protective became a part of Tokyo-based Dai-ichi in 2015. Dai-ichi has more than $463 billion in total assets as of Dec. 31, 2023 and serves customers in 10 countries, with Protective as its U.S.-based subsidiary.

Alabama leads the nation in car exports, topping $11 billion in 2023

Alabama has outpaced South Carolina as the state exporting the most passenger vehicles. In the last two years, South Carolina has led the country in car exports achieving $2 billion more than Alabama in 2021 and $3 billion more in 2022. In 2023, however, Alabama pulled ahead and exported more by $1 billion for a total of $11 billion for the year. To read more about this success, visit the site linked above.

GMI POST: Toyota to headline SEUS/Japan conference in North Carolina

This year’s Southeast U.S./Japan Annual Joint Meeting will be sponsored by Toyota. This meeting is aimed at attracting more Japanese investment to the Southeastern United States. This year it will be hosted in Charlotte, North Carolina from October 27 to 29th. For more information and comments from the governor, check out the article linked above.

Made in Alabama: Report: 2023 growth projects to inject $6.4 billion into Alabama communities

Alabama Governor Kay Ivey announced over $6.4 billion in investments from companies launching or expanding operations in 2023, reinforcing the state's robust economic growth and job creation. The efforts resulted in 8,095 new jobs across 43 counties, with key sectors like automotive, metals, and information technology driving growth. Rural Alabama attracted significant investments, and foreign direct investment played a crucial role, contributing almost $3 billion and nearly 3,400 new jobs. Top global and domestic brands, such as Miele and Sierra Pacific, continue to choose Alabama for expansion. Secretary of Commerce Ellen McNair emphasizes the state's commitment to creating 21st-century jobs and developing a comprehensive economic development strategy for the future. Governor Ivey highlights the importance of innovation and technology in sustaining Alabama's economic momentum, driving the need for new strategies and bold approaches.

Click here to see the 2023 Alabama New & Expanding Industry Report.

Business Alabama: Leadership change at MTM in Madison

Mazda Toyota Manufacturing has announced a change of leadership at its plant in Madison.

Founding Plant President Masashi Aihara, who took the helm of the new plant in 2018 as part of his 40-year career with Mazda Motor Corp., is stepping aside at the end of March.

Mazda veteran Mitsunobu Mukaida will become plant president.

Mazda shares a plant with Toyota, where Mazda CX-50 and Toyota Corolla Cross are made.

“It has been a great challenge to start an automotive facility of this size from cotton fields, to where MTM is now,” Aihara said. “We received much support from the local governments, communities, suppliers, our team members and other stakeholders that has led to our success — two new lines, two shifts, producing two vehicles. My hope is to leave the same kind of positive impact on MTM and Alabama, that they have had on me and on my family over the past five years.”

Mukaida has been with Mazda 35 years, most recently as executive officer in charge of global production. He has also served as CEO and president of Mazda Powertrain Manufacturing in Thailand.

“My mission at MTM as a joint venture plant is to further realize the synergy between Toyota and Mazda through their respective strengths, and to develop it as a ‘best in town’ facility that is loved by our team members and the local community,” said Mukaida. “I will continue to work with determination to put down roots in Huntsville.”

Business Alabama: Toyota marks record for engine production

The Toyota Motor Manufacturing Alabama (TMMAL) engine plant in Huntsville assembled 770,000 engines in 2023, a record production number for the facility. The plant is a critical part of Toyota’s supply chain and has the capacity to build up to 900,000 engines per year. To keep up with production demands, TMMAL has also seen a significant bump in hiring and currently employs more than 2,000 people.

“Toyota Alabama supplies over one-third of all engines for Toyota’s North American operations,” points out Jason Puckett, president of Toyota Alabama. Puckett has overseen production and administration functions at TMMAL since 2021. Prior to that, he served as vice president of administration and manufacturing at Toyota Indiana, where his Toyota career started in 1997.

“Every line at Toyota Alabama assembles engines for both hybrid and combustion vehicles. It’s our 2,000 team members and their skills that have paved the way for this plant to play a critical role in Toyota’s electrified future,” Puckett says.

The 1.3 million-square-foot facility has four assembly lines that produce four-cylinder + HEV engines, 2.4 turbo + HEV engines and twin-turbo VS + HEV engines that can be found under the hoods of RAV4, Corolla, Corolla Cross, Highlander, Sienna, Tundra and Sequoia vehicles. It is also the only Toyota plant globally to build four-cylinder, V-6 and V-8 engines under one roof, and it is the only plant in North America that builds the Twin Turbo V-6 engine.

Made in Alabama: Toyota Alabama kicks off production on new engine line after $222 million project

HUNTSVILLE, Alabama — Toyota Alabama announced today that it has started production on its i-FORCE 2.4-liter turbo engine line at its Huntsville engine plant, culminating a $222 million investment project launched in 2022.

Toyota Alabama said the new engine line will provide powertrains for the all-new Tacoma pickup and reinforces its commitment to diversified powertrains that align with customer demand.

“The completion of the i-FORCE 2.4-liter turbo engine line marks a significant milestone for Toyota Alabama and further supports job stability for our 2,000 employees,” said Jason Puckett, president of Toyota Alabama.

“Now, with Tacoma offering a hybrid option, every line at our plant includes engines for hybrid vehicles,” he added. “It’s our team and their skills that have paved the way for this plant to play a critical role in Toyota’s efficient and electrified future.”

Ellen McNair, Secretary of the Alabama Department of Commerce, said the new engine line’s production launch is the latest in a long line of milestones for the Toyota engine plant, which opened in Huntsville in 2003.

“Toyota Alabama has an extensive track record of success, and we’re proud of the workforce in Huntsville that has helped make all of that possible,” McNair said.

“In addition, Toyota is a great community supporter and a crown jewel in Huntsville’s dynamic economy.”

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Application for 2024 KKC Japan Study Tour open to Mar 1 for grade 6-12 social studies teachers!

KEIZAI KOHO CENTER TEACHER FELLOWSHIP

Application Due: March 1, 2024

Dates: June 24 (Mon) -July 2 (Tue), 2024 (Tentative)

Program Type: Education Exchange, Public Affairs

Contact: Email: kkcfellowship@us-japan.org

Contact Phone: 412-856-8608, Ms. Katsuko Shellhammer

Keizai Koho Center (KKC), in cooperation with the National Association of Japan-America Societies (NAJAS), will offer the “KKC Study Tour to Japan 2024” for U.S. and Canadian social studies teachers.

Since 1980, over 700 U.S. and Canadian social studies teachers have taken part in “KKC Study Tour to Japan”. The program aims to deepen participants’ understanding of Japan and contribute to international mutual understanding across the Pacific. Their experiences and findings in Japan have significant value to their students, who will build future ties with Japan.

Dates of the Program

June 24 (Mon) -July 2 (Tue), 2024 (Tentative)

The contents will be developed to provide vivid and enjoyable experiences which may include:

• Visits to Japanese schools and Japanese companies,
• Meetings with scholars and/or experts on political, economic, social issues and the education system,
• Cultural and fun experiences,
• A seminar with an audience of business people.

Costs covered by KKC

KKC provides round trip air transportation from the participants’ home city to Tokyo, as well as accommodations, ground transportation and meals associated with the program.

Guidelines at https://www.us-japan.org/kkc before applying at https://najas.wufoo.com/forms/r1pu1gw61awsgr1/ Help for societies/teachers c/o aboots@japansocietypa.org while reflections from participants are at https://en.kkc.or.jp/programs/stj/.

Made in Alabama: New $30 million EV training center will support auto industry growth

MONTGOMERY, Alabama — Governor Kay Ivey announced today that Alabama is building a $30 million workforce training center in Decatur that will focus on electric vehicles and emerging technologies in order to position the state’s auto industry for the next chapter of its growth.

The facility will be located on the campus of the Alabama Robotics Technology Park, a unique $73 million center operated by AIDT that helps companies train workers on advanced R&D and manufacturing technologies.

“Alabama is already a recognized leader in workforce development, and this training center concentrating on EVs and new technologies will add an important dimension to our capabilities,” Governor Ivey said.

“This investment shows that we’re fully committed to making Alabama an even greater force in the global auto industry in the future.”

AIDT Director Ed Castile said design work has begun on the planned facility, which is projected to span 40,000 square feet at Robotics Park, where there is room for growth on 40 available acres.

The training center is expected to be operational in 18 to 24 months.

“Our main goal is to help the state’s automakers continue to grow during the transition to electric powertrains and assist them as they embrace new technologies that are evolving all the time,” said Castile, who also serves as Deputy Secretary of the Alabama Department of Commerce.

“We just want to make sure we have workforce that has the ability to thrive in this new environment, so it’s a natural extension of what we do at Robotics Park.” ...

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Made in Alabama: Long-standing Alabama-Japan bonds on full display at celebration

BIRMINGHAM, Alabama — Six Japanese companies embarking on investment projects in Alabama were recognized Thursday night at a ceremony that highlighted the deep economic and cultural connections that link the Southeastern state and the Asian nation.

The Japan-America Society of Alabama (JASA) dinner at the Renaissance Birmingham Ross Bridge Golf Resort & Spa brought together leaders from government, economic development, education and culture in support of the Alabama-Japan relationship.

Birmingham’s Mark Jackson, who serves as Honorary Consul General of Japan, said last night’s event highlighted the multi-layered importance of Alabama’s relationship with Japan.

“From manufacturing, financial and insurance services to educational exchanges and cultural events, Japan has become a major part of Alabama’s landscape,” Jackson said. “Our leaders understand the importance of this relationship, and I am happy to work with them as it continues to expand.

“When you consider the economic impact of 80+ Japanese companies on a state of approximately 5 million people, you understand why Alabama is at the forefront of leading the global economy,” he added.

Greg Canfield, Secretary of the Alabama Department of Commerce, said many communities across the state have benefited immensely from the long-lasting relationship with Japan.

“Over the years, I have developed an unshakable admiration for the Japanese business culture, which places an emphasis on teamwork, quality, continuous improvement, innovation, environmental stewardship and honor,” Secretary Canfield said.

“The Japanese companies operating in Alabama have brought an authentic community spirit and have shown themselves, time and time again, to be great corporate citizens,” he added. ...

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