One Alabama economic development group acquires another with plans to expand its reach
A transition in Birmingham Bound’s leadership created an opportunity for the Economic Development Partnership of Alabama to step in and scale the model statewide.
The Economic Development Partnership of Alabama (EDPA) has announced the acquisition of Birmingham Bound, a pioneering initiative that has successfully attracted more than 20 technology companies to the Birmingham area since its founding in 2018. Originally launched by Shipt to support Birmingham’s growing innovation ecosystem, Birmingham Bound will now serve as a cornerstone for a statewide lead generation strategy for tech companies.
When evaluating the health of an innovation ecosystem, one critical factor is having a strong pipeline of start-ups to create a “safety net” for talent. This ensures that individuals who take risks and join early stage companies have alternative opportunities if their ventures don’t succeed. Birmingham Bound was born out of this need – to market Birmingham as an attractive destination for early stage companies with its low cost of doing business, robust support networks, and vibrant community. The results have been outstanding, bringing a wealth of talent and energy to the region.
The transition in Birmingham Bound’s leadership created an opportunity for EDPA to step in and scale this model statewide. By leveraging relationships with innovation ecosystem supporters across Alabama, EDPA will help early-stage companies find the best fit for their industries in communities ranging from Huntsville to Mobile.
Miller Girvin, President of the EDPA, emphasized the importance of expanding Birmingham Bound’s successful model to benefit the entire state.
“Our plan is to make Birmingham Bound a statewide initiative,” said Girvin. “This development allows us to use proven methods we’ve refined with our business intelligence team at AL Intel to target specific companies, pursue high-potential leads, and highlight Alabama’s unique value proposition for early-stage businesses.”
Key objectives of this new statewide strategy include:
- Targeting specific companies with Alabama’s value proposition, including its business-friendly climate and competitive cost structure.
- Building on existing partnerships across the state to connect companies with the right ecosystems for their success.
- Strengthening Alabama’s reputation as a hub for innovation by marketing communities that align with the needs of different sectors, such as defense-tech in Huntsville or advanced manufacturing in Birmingham.
The acquisition was made possible through donations and a tax credit from Innovate Alabama, providing financial support for ongoing efforts to attract technology companies.
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