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BUSINESS OVERVIEW
The Birmingham region has over 35,000 businesses and employes over 500,000 (over 25% of the state's total workforce), making it a center for finance, health care, education, manufacturing, research, engineering, transportation, construction, and distribution. As the state's largest economic engine, diversification has helped the region cope with the recent economic situations and has avoided much of the significant job loses seen throughout much of the country. As reported by the Bureau of Economic Analysis, the metropolitan area generated nearly $52 billion to the state's total GDP in 2006, nearly 33% of the state's total.
The region's diverse economy is relected in the region's top employers. This information includes both public and private employers.
Employer |
Local Employees |
Website |
University of Alabama at Birmingham (UAB) |
18,750 |
|
Regions Financial Corporation |
6,000 |
|
AT&T |
5,485 |
|
Birmingham City Schools |
5,000 |
|
St. Vincent's Health System |
5,000 |
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Birmingham City Government |
4,989 |
|
Jefferson County Board of Education |
4,800 |
|
Honda Manufacturing of Alabama |
4,500 |
|
Baptist Health System |
4,000 |
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Mercedes-Benz U.S. International Inc. |
4,000 |
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| Source: Birmingham Business Journal, 2009 Book of Lists |
The region's is home to three of the nation's top financial institutions, and it is the South's second largest banking center. Of the regions 20 largest banks, 9 are headquartered in Birmingham. Regions, Compass, and Wachovia, with a combined workforce approaching 10,500 and combined assets worth $865 billion ensure that the Birmingham region will remain a top banking and financial center.
The retail and service industries in the Birmingham region continue to be one of the largest growth sectors. The region has a wide range of shopping locales, entertainment venues, and world class restraurants. Major retail development has been primarily concentrated within the suburban areas of Birmingham, following housing development trends.
The distribution industry continues to be one of the region's top growth sectors primarily due to its strategic location, transportation infrastructure, and expanding auto industry. The region is known for its versatile truck and rail services, and having a broad selection of professional freight forwarders, custom brokers, and a U.S. Customs Office located at the airport. The area is served by four interstate rail carriers, more than any other Southeastern city, and a local switching railroad. Two of the carriers provide inter-modal facilities. Port Birmingham, with seven barge lines, is the largest inland shipping center of general commodities of the Tennesse-Warrior-Tombigbee river systems. The port provides access north to mid-America through nearly 16,000 miles of inland waterways and south to the rest of the world through the Alabama Seaport.
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