Peer ComparisonsPeer University Comparisons
UAB’s operational impact of $4.6 billion annually is presented in the table below in comparison to peer universities. It is noteworthy, however, that each economic impact study is unique and these comparisons are not based upon identical methodologies or data collection practices.
|Peer University Comparisons
|| State Investment FY 07-08
|| State Investment FY 08-09
|| Economic Impact*
||Statewide Economic Activity Generated per Dollar of State Investment
|| Efficiency of Dollars
||$284.9 M in investment leads to $4.6 B in impact
|University of Iowa
||$379.4 M in investment leads to $6.0 B in impact
|University of Wisconsin- Madison
||$491.1 M in investment leads to $4.7 B in impact
|University of California, Los Angeles
||$584.1 M in investment leads to $9.3 B in impact
|Georgia Institute of Technology
||$280.1 M in investment leads to $7.85 B in impact
State of Alabama and Birmingham Economy Overview
The state has heavily invested in aerospace, education, health care, and banking, and various heavy industries, including automobile manufacturing, mineral extraction, steel production and fabrication. According to the United States Bureau of Economic Analysis, the 2009 total gross state product was $165.8 billion.
Alabama’s agricultural outputs include poultry and eggs, cattle plant nursery items, peanuts, cotton, grains such as corn and sorghum, vegetables, milk, soybeans, and peaches. Alabama’s industrial outputs include iron and steel products (including cast-iron and steel pipe); paper, lumber, and wood products; mining (mostly coal); plastic products; cars and trucks; and apparel. Also, Alabama produces aerospace and electronic products in the Huntsville area where the NASA George C. Marshall Space Flight Center and the U.S. Army Aviation and Missile Command are located (headquartered at Redstone Arsenal).
Much of the growth in the industrial sector of the economy was due to Alabama’s rapidly expanding automotive manufacturing industry. Since 1993, the automobile industry has generated more than 67,800 new jobs in the state. Alabama currently ranks fourth in the nation in automobile output.
From Birmingham’s early days onward, the steel industry has always played a prominent role in the local economy. Though the steel industry no longer has the same prominence it once held in Birmingham, steel production and processing continue to play a key role in the economy. Several of the nation's largest steelmakers have a major presence in Birmingham. In recent years, local steel companies have announced about $100 million worth of investment in expansions and new plants in and around Birmingham.
Birmingham is also a leading center for the financial industry. Many insurance companies have their headquarters in Birmingham, and these employ a large number of people in the Birmingham-Hoover MSA. Birmingham is also a powerhouse of construction and engineering companies. Two of the largest soft-drink bottlers in the United States, each with more than $500 million in sales per year, are located in Birmingham. The Birmingham metropolitan area has consistently been rated as one of America's best places to work and earn a living based on the area's competitive salary rates and relatively low living expenses.
Comparisons to Other Industry Segments in State of Alabama
According to an analysis completed by the U.S. Bureau of Labor and Statistics published in December 2009, the top three employment clusters in the state of Alabama are: 1) government, 2) trade, transportation and utilities, and 3) manufacturing. The table below profiles the employment numbers by job type in the state of Alabama.
|Alabama State Economy (December 2009)
|Labor Force Data*
|Civilian Labor Force
|Non-Farm Wage and Salary Employment**
|Mining and Logging
|Trade, Transportation, and Utilities
|Professional & Business Services
|Education & Health Services
|Leisure & Hospitality
|*Number of persons, in thousands, seasonally adjusted.
|**Number of jobs, in thousands, seasonally adjusted.
The graphic below depicts the percentage of jobs by sector in the state of Alabama.