Magic City Marketplace: Stunted Downtown Growth?
Birmingham’s received a lot of attention for its downtown revival with more apartments and a grocery store slated to open in the next couple of years. But that has some business types warning that growth could be stunted because of the city’s taxes. That’s where we start with this week’s Magic City Marketplace.
Birmingham is big business and small. But whatever the size of the operation, the marketplace is connected by people who have to grapple with numbers and projections and spin. We try and slice through the psychobabble that can be business news with a weekly discussion of who's up and who's down, why the market reacts a certain way or what a business closing or opening means to you.
Medical research is a notable part of the Birmingham economy and more and more funding for potential breakthroughs is coming from private dollars. That can open up ethical questions. We also talk about a planned technology festival in Birmingham and the effect of new federal overtime rules in this week’s Magic City Marketplace.
Birmingham’s city center has seen project after project pop up over the last five years or so. While the business community would love to see that continue, there’s concern the acrimony right now between Birmingham Mayor William Bell and the city council could cut into the momentum. We talk about that in this week’s Magic City Marketplace. Birmingham Business Journal editor Ty West explains to WBHM’s Andrew Yeager what has business leaders worried.
Birmingham’s banking sector has seen smaller banks entering the market hoping to latch onto growth in the state’s biggest metro area. So far in 2016, that trend is not slowing. We start there in this week’s Magic City Marketplace. The Birmingham Business Journal’s Ty West also explains how the healthcare community is reacting to a General Fund budget Alabama’s Medicaid commissioner says is below what’s needed to maintain services.
Anyone who commutes along I-65 or U.S. 280 around Birmingham, knows those highways can get congested. But those are far from the only roadways feeling pressure. Backups are annoying and have real costs.Birmingham Birmingham Business Journal editor Ty West talks about that in this week’s Magic City Marketplace. He also explains why retail has been lagging in downtown Birmingham’s revival.
The housing market is cyclical as are so many things in business. After a housing-led recession and recovery, the Birmingham housing market is becoming a sellers market with far more demand than homes to go around. But the adage “location, location, location” still applies. Birmingham Business Journal editor Ty West explains in this week’s Magic City Marketplace.