Ongoing industrial development in this city on the Tallapoosa River have helped Elmore County grow its economic base and at least one development specialist expects that trend to continue.
Growth is taking place all over Elmore County, with industries investing $25.8 million in the county in 2006, said Eric Basinger, executive director of the Elmore County Economic Development Authority.
Expansion of 12 existing facilities and the arrival of four new manufacturers added 351 new factory jobs in the county last year, Basinger said.
Of those totals, GKN Aerospace in Tallassee contributed $20 million and 94 new jobs, he said.
The 120,000-square-foot GKN facility has been a huge boost for the city, Tallassee Mayor Bobby Payne said.
GKN is the city's largest employer at about 900 jobs, Payne said. The business more than made up for the closing of the Mount Vernon Mill two years ago, he said.
"When the mill shut down, they (GKN) hired everyone who wanted a job the next day," Payne said.
GKN now employs more people than the mill did when it shut down.
Hanil Alabama will bring even more jobs to the city when it completes its own expansion.
Hanil's facility will be 54,000 square feet and employ 120 people. It represents an investment of more than $15 million.
The plants give Tallassee residents a place to work, but they also draw workers from Montgomery, Wetumpka and Auburn, Payne said.
Overall, the county is on course to repeat last year's performance, Basinger said.
Growth industries such as automotive, aerospace and information technology are well-represented, thanks in large part to GKN and suppliers for Montgomery's Hyundai plant such as Hanil.
Basinger said that bodes well for the county's overall economic growth.
He said that based on a conservative estimate, a spinoff effect from the industrial expansion will create an additional 224 jobs.
"You are going to have easily a minimum of 224," he said.
The spinoff effect will be achieved by the boost in payroll money circulating throughout the county. Even assuming only $25,000 a year per position, the 351 jobs created would generate nearly $9 million in payroll, Basinger said.