December 2023

Keeping you informed and inspired.

December 2023

VOLUME 6 • ISSUE 12

GOVERNMENT

State of the County Address Tackles Pains of Population Growth, Outlines Infrastructure Plan

COVER STORY

Speaking to the 2024 fiscal plan, McCutcheon said the county’s top priority is to become more proactive in accommodating the growing population, especially in terms of infrastructure relating to roads and water.

By Laura Boehringer - Page 5

ARTS & ENTERTAINMENT

Top 10 Can’t-Miss Holiday Events in Huntsville, 2023 Edition

The Huntsville Business Journal, with help from partners in the City of Huntsville, has put together our Top 10 most exciting family-friendly events happening in the Rocket City this Holiday Season.

By Laura Boehringer - Page 10

ADDITIONAL STORIES • Sit Down With Success: A Conversation with Matt Curtis of Matt Curtis Real Estate

By Heather Price • Page 3

• Unveiling the Rich History of a Cornerstone Small Business in the Heart of Huntsville

By Marie Johnson • Page 17

• Huntsville’s Job Creation Numbers Supporting Commercial Real Estate Through Rising Interest Rates

By Noah Logan • Page 18

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HUNTSVILLE

BUSINESS JOURNAL Vol 6, Issue 12 December 2023 600 Boulevard South Suite 104 Huntsville, AL 35802

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Huntsville BUSINESS JOURNAL

December 2023

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SIT DOWN WITH SUCCESS

A Conversation with Matt Curtis of Matt Curtis Real Estate Sit Down With Success is a feature of the Huntsville Business Journal on entrepreneurs and their keys to success. To read the full story, please visit the Huntsville Business Journal website.

The Matt Curtis Real Estate team has received many accolades over the years. The team has a significant marketing presence in the area, with Matt Curtis Real Estate billboards along many North Alabama thoroughfares.

But behind the awards and the billboards is Matt Curtis himself - a former sales engineer, husband to his high school sweetheart and father of three. The Knoxville native and University of Tennesee graduate moved to Alabama 19 years ago, to sell test equipment to NASA and the U.S. Army. Since that time he has created his real estate team and helped thousands of people buy and sell homes while giving back to the community.

The Huntsville Business Journal recently sat down with Curtis to talk about his career journey and the joys and chal-

lenges of owning a business.

How did you get started in real estate?

We were building a house at the time with a local builder, and they offered me a position to go into real estate. I started around June of that year and almost became their top salesperson, working half of the year. I did that job for about three and a half years, and the Great Recession came. God called me to open Matt Curtis Real Estate, which doesn’t make sense, opening a business during probably one of the slowest times to sell real estate, but it was definitely God’s timing and it’s been a blessing ever since.

What was your goal when you started your business?

I wanted to control the customer experience, and I wanted to control the integrity level of the business. I went out and got 20 listings quickly, but nothing would sell on the listing side during that time, so I ended up finding, by God’s grace, a marketing program on the buyer side and found a great mentor who

poured into me. His name was Howard Tager and that really helped take our company and grow it in those Great Recession years and into the business that you see today.

How do you balance work and personal life?

One of our core values for our team is that we believe in balance, so our faith and family always come first.

When you have a flat tire in one area of life, like your family, it’s going to affect everything else, and so as you get your walk with God right, it’s going to help everything else flow in the right way. It’s not only balancing; sometimes it’s counterbalancing. There are seasons where you have to put more work in either, whether it be family or work, but you just can’t stay in that season. You’ve got to balance it back out because if you don’t do that you’re going to get a flat tire somewhere else in your life, and it’s not worth having business success to have a family failure.

What type of advice might you

By: Heather Price / Photo by Steve Babin

have for someone looking to go out on their own?

First and foremost, prayer and getting confirmation from others that your ideas are the right thing to do. Find a mentor. What I found is a lot of successful people are happy to mentor, but there are a lot of people who aren’t willing to put the work in that the mentor asks of them. If you will actually do the work, you’ll find people who are willing to invest in you. w

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Huntsville BUSINESS JOURNAL

Subsidiary of EVENT Publishing

President /Publisher……………………………………… Todd Stephenson Editor………………………………………………………………… Gus Wintzell Writers…………………………………………………………Laura Boehringer Marie Johnson Noah Logan Heather Price Contributing Writers……………………………………… Alexander Duck, II Carl Holden Graphic Design ………………………………………………… Justina Simon Amy Pearson Website……………………………………………………………… Jim Gharib Photographers…………………………………………………… Steve Babin Justina Simon Director of Sales ……………………………………… Carolyn Stephenson Distribution……………………………………………………… Glenda Mace Huntsville Business Journal is published monthly by EVENT Publishing,

PO Box 14219, Huntsville, AL 35815.

For advertising information call 256.533.8078, e-mail todd@eventhuntsville.com, or visit us on the web at www.huntsvillebusinessjournal.com For editorial information contact editor@huntsvillebusinessjournal.com ALL CONTENTS ©2023. ALL RIGHTS RESERVED. REPRODUCTION OR USE IN WHOLE OR IN PART OF THE CONTENTS WITHOUT THE PRIOR WRITTEN PERMISSION OF THE PUBLISHER IS PROHIBITED. HUNTSVILLE BUSINESS JOURNAL IS A REGISTERED TRADEMARK OF EVENT PUBLISHING. ALL RIGHTS RESERVED. UNSOLICITED PHOTOGRAPHS OR ARTICLES ARE SUBMITTED AT THE RISK OF THE PHOTOGRAPHER OR AUTHOR. EVENT PUBLISHING ASSUMES NO LIABILITY FOR THE RETURN OF ANY UNSOLICITED MATERIALS AND MAY USE THEM AT ITS DISCRETION.

Waiting on Word / art

December 2023

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GOVERNMENT

State of the County Address Tackles Pains of Population Growth, Outlines Infrastructure Plan The Von Braun Center kicked off a busy holiday season on Tuesday, November 07, while hosting the State of the County Address.

Sponsored by the Huntsville Hospital Health System and the Huntsville/Madison County Chamber of Commerce, Chairman of the Madison County Commission, Mac McCutcheon, gave an address that tackled population growth, budgeting, and quality of life goals in Madison County.

Speaking to the 2024 fiscal plan, McCutcheon said the county’s top priority is to become more proactive in accommodating the growing population, especially in terms of infrastructure relating to roads and water.

In an effort to be proactive, the Madison County Commission has implemented its first 10-year infrastructure plan that includes 29 road projects and new budgeting policies for a total of $101 million.

“Over the years, Madison County has been more reactive than still being proactive due to the growth and traffic demands,” McCutcheon said. “Every subdivision and apartment complex that’s being built? It’s just adding more vehicles to the road. I drive by, and I catch myself sometimes counting doors and when I stop I go, ‘How many people are going to be living here?’ And then I start adding the number of cars that are going to be coming onto the road.

Sometimes it’s mind-boggling,” reflected McCutcheon Having been raised and educated in Madison County, McCutcheon said he has personally seen significant growth.

“I remember standing in a cotton field where campus is right now, and things like that just…it’s just amazing to see all the growth through that,” reflected McCutcheon.

Last month, Chairman Mac McCutcheon delivered the State of the County address hosted at the Von Braun Center in downtown Huntsville

However, Chairman McCutcheon expressed confidence that Madison County is now taking the proper measures to keep up with demand.

McCutcheon made a point to say that as Commission Chair, he does not aim to influence state or national politics.

“My role instead is to support our own quality of life in working on things like infrastructure, our roads and our water systems, public safety, clean living environments, for shopping and entertainment, employment, for opportunities, recreation, for healthy living and family growth, residential developments, educational opportunities, overall economic development: your quality of life. Your quality of life is the number one focus of your county government,” said McCutcheon during the Address.

To that end, McCutcheon said he’s spent his time in office so far visiting various Madison County departments, including all six county commissioners and waste control, which he noted collects more than 75,000 pounds of garbage per year and is meeting the challenge of accommodating population growth. According to

McCutcheon, the Madison County Commission will also be addressing every recreation center in the coun-

By: Laura Boehringer / Photo courtesy of Huntsville/Madison County Chamber of Commerce

ty this year as well as hiring more personnel to manage those facilities.

McCutcheon closed his address by thanking the employees of Madison County Commission, calling them true public servants.

He said each hour and day they work “actively improves quality of life throughout Madison County and makes the community a better place.”

McCutcheon was appointed to his current position of Madison County Commission Chairman by Governor Kay Ivey in 2023 and has been in this role for 10 months.

Prior to being Commission Chairman, McCutcheon was the Speaker of the Alabama House of Representatives from 2016 to 2022. w

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Huntsville BUSINESS JOURNAL

SMALL BUSINESS SPOTLIGHT

Talking Small Business and Style with Downtown Huntsville’s Roosevelt & Company Roosevelt & Company, Gentleman’s Supply Co., is a one-of-a-kind shopping experience at The Garage at Clinton Row, offering more than just men’s clothing but celebrating style and sophistication.

Amanda Sadler, one of the owners of the downtown Huntsville shop, said the founding principal behind Roosevelt & Co. is that some things in life are worth savoring and pressing pause.

“Roosevelt is dedicated to providing a full-service boutique that celebrates all the joys of manhood.

From graduation to weddings and that new job to your highest promotion,” Sadler shared. “Most importantly, we believe that every man has a unique story to tell. Your style is what people see before they are fortunate enough to learn who you really are. We believe men have the right to feel proud of their accomplishments and take pride in their appearance.”

Named for Teddy Roosevelt, the men’s store just celebrated seven years in business, opened in 2016

by Sadler’s business partner Meggan Crunkleton. In addition to menswear, from dressy to casual, and men’s accessories, Roosevelt’s services include made-to-measure garments and wardrobe consulting. The company’s blog, called Teddy’s Journal, offers styling tips and the latest on men’s fashion for all occasions, from the office to the weekend.

Sadler said the inspiration for the store was born out of need and filling a void for North Alabama men - and the people who shop for them - who were previously traveling to nearby cities like Nashville or Atlanta for a gentlemen’s shopping experience.

There are plenty of guys here who want to dress well, Sadler explained, and at Roosevelt & Co. they are helping them do just that.

“The heart and soul of the business is people who come in the store and shop locally. Some whip in, and we’re just figuring out exactly what it is that they’re hunting, what they’re

looking for, defining that look and getting them right back out the door. Other people come in and are truly conversational. We’re finding out what they want, where they go, where they are wearing the garments, and what are they going to do in them, rather than just, oh, you, wear a 42 regular and back out the door.”

The reason they come in is the clothes. The reason they come back, Sadler said, is the unique experience of individualized customer care, including an in-shop barber, creating a one-stop-shop for men’s clothing, hair and beard grooming, at-home grooming products, home goods and gifts.

“Huntsville is a very quality city with quality experiences, and our goal is really to be grafted into that and help create those moments,” Sadler said. “When men stop in our store, they’re not just buying another random coat, they’re getting a quality experience based foundationally on savoring and relationship.”

Sadler’s background is in women’s styling and wardrobe building, but she recalled appreciating style in both women and men for as long as she can remember. Her parents were stylish dressers, which made an impression.

“I feel like when you look your best, you in return act your best, and

when you present your best self, this is how you open doors to the next opportunity,” Sadler said. “I’m an enormous believer in dressing for the job you want, not the job you have.”

She appreciates when even the most casual look still appears thoughtful, and not sloppy. She’s passionate about the role Roosevelt & Co. plays in giving men a place to go to create their pulled-together personal style and brand.

“My challenge for everyone is, push yourself and your style with this purchase or the next. You can have color, texture, and print and still feel like your wardrobe is cohesive, with grab-and-go pieces that truly reflect who you are, much more so than owning only basics in your closet arsenal. We’ll still sell you a black tee and a pair of jeans, but when you come back next time, we are certainly pushing you to go beyond everyday basics with pops of personality that show more of your own brand.”

She enjoys suggesting new ways of adding texture and color or styling that shoppers may not have envisioned previously.

“Most people know what will go great with navy, so when I style it in the window, I’m going to put it with a different or offbeat olive or bark brown, just to show versatility of styling. You already know you can wear most items with denim; I don’t need

By: Heather Smith / Photos courtesy of Roosevelt & Company

to show you that. I’m here to show you another way to wear it.”

Sadler is fairly new to Huntsville, relocating here a year and a half ago from Dallas. She said she’s seen Huntsville expanding what it has to offer to residents and visitors alike, but also maintaining what makes the city unique and keeping its identity.

“One of the best aspects of Huntsville as a whole is it truly maintains a small town feel while having the majority of unique experiences you’d hope to find - unique stores like this, unique restaurants, small boutique hotels. Things like that draw people to the city because it’s maintaining the character of the town while curating growth based upon the next need or want for our locals and tourists.”

Roosevelt is popular amongst locals - very rarely do they have a one-time shopper, Sadler said. But’ they get a lot of feedback and return business from visitors, travelling to Huntsville for business or pleasure, who tell Sadler they wish they had a place like Roosevelt’s in their city.

The shop hosts multiple trunk shows a year, which Sadler said is a unique time for customers to experience the full breadth of Roosevelt’s exclusive brands.

“Almost all of the brands that we bring in, we’re the only ones that carry them around here and neighboring cities,” explained Sadler. “We didn’t bring in 48 of that item. We brought in five of that item and when it’s gone, it’s gone, and we’ll bring in something else that’s new and unique. We’re not so deep in the quantity of each item that you’re going to be rubbing matching shoulders with someone at the same party or the same church service.”

Roosevelt & Co. is located at The Garage At Clinton Row, 114 Clinton Ave E, Suite 102, and is open Monday through Saturday, 10 a..m to 6 p.m. and Sunday by appointment.

You can find them online at www. rooseveltandco.com. w

December 2023

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PEOPLE

New Executive Director Poised to Lead the South Huntsville Main Business Association into New Era Change has been a key word throughout South Huntsville.

Changes to Memorial Parkway, to various key developments in the area, and to dining and retail options have brought a certain revitalization to the area.

Alongside these new developments, the South Huntsville Main Business Association recently welcomed Madison Roberts as their new Executive Director with the goal of taking part in the major changes happening in South Huntsville. With her diverse background and passion for community development, Roberts looks to bring fresh ideas and a unique perspective to her position.

In an interview with HBJ, her first since accepting her new position, Roberts shared her vision for South Huntsville, her commitment to its success, and how she ended up becoming the SBA’s newest director.

One thing that sticks out about Roberts is her enthusiasm for working in a member-based environment.

The Arkansas native moved to Huntsville with her husband in 2018 and initially worked with the U.S. Space and Rocket Center before moving into a position with the Madison County Builders Association as their relations manager.

She explained how the feeling of camaraderie amongst members in an organization made it a satisfying position.

“Once you are in that room, there is still very much a camaraderie when you’re a part of an association because that association is going to support, promote and advocate for you,” Roberts mentioned.

This specific experience and enthusiasm should prove useful as the SHMBA was conceived in 2015, amidst the three year overpass construction project, with the goal of providing the area’s business owners a single, unifying voice to communicate with city leaders and officials. After the initial effort succeeded and allowed

the local businesses to survive and thrive during the massive change, the SHMBA shifted its focus to determine other long term goals for the collection of business owners.

In the spring of 2018 as the construction was nearing completion, SHMBA applied to be a Main Street Designated City with Main Street Alabama and received the South Huntsville Urban Main Designation.

Now with Roberts at the helm, the Main Street Program and SHMBA will be focusing on revitalizing the South Parkway district and creating a thriving and vibrant economic climate for businesses in South Huntsville.

Appointing Roberts as the newest Executive Director solidifies the fact that the SHMBA is starting a new chapter in the coalition’s history and she seems to embrace this when talking about her vision. The first era was centered on the more concrete and short term goals of surviving the construction of the overpass and earning the Main Street accreditation.

Roberts talked about this and how she is eager to establish the long term goals for the SHMBA and its members.

“After the two big hurdles of getting off the ground and getting this accreditation, what’s next? I’m interested in finding out what that is and that is going to come from talking with our members, talking with the community

and with the board to forge that vision together for the foreseeable future.

While no specifics have been identified for this future quite yet, there are a few details that she knows will be included.

“We want to create a community where people feel a sense of pride in both our past and our future,” Roberts concluded.

Roberts that understands the importance of preserving South Huntsville’s rich legacy while also embracing the necessary changes for growth and development. She believes in finding a harmonious balance between modern developments and historical preservation to attract residents and visitors alike.

Another key to success, according to Roberts, is establishing a community that attracts the entrepreneurs of tomorrow and their families.

By: Noah Logan / Photos courtesy of South Huntsville Main Business Association

“We want to create a community that young professionals and families are excited to call home,” she elaborated.

She highlighted the area’s excellent schools, proximity to urban amenities, and natural landscapes as strong selling points.

Roberts also recognized the importance of setting realistic goals and maintaining a practical approach. She emphasized the need to align expectations with available resources and community capabilities. By doing so, South Huntsville can create a strategic roadmap that adapts to the evolving needs of the community and ensure that the new era of the SHMBA will continue to be successful and beneficial for its members.

For more information, please visit southhuntsvillemain.org. w

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Huntsville BUSINESS JOURNAL

AI TALKS

Revolutionizing A.I.abama: By: Carl Holden Business in Huntsville, Making Huntsville Alabama: The Role of AI An Even Smarter Place By: ChatGPT

Huntsville, Alabama, often referred to as the “Rocket City,” has long been known for its contributions to space exploration and defense technology. With a rich history in aerospace, research, and innovation, the city has evolved into a thriving hub for various industries. In recent years, one technology has been making significant inroads into the business landscape of Huntsville, reshaping the way companies operate and innovate: Artificial Intelligence (AI).

Artificial Intelligence, or AI, is the development of computer systems that can perform tasks that typically require human intelligence, such as visual perception, speech recognition, decisionmaking, and language translation. In Huntsville, AI is making a remarkable impact across various sectors, revolutionizing business operations, decision-making, and efficiency.

1. Aerospace and Defense As a city deeply connected to aerospace and defense, Huntsville has embraced AI to enhance its capabilities in this sector. AI-driven technologies, such as autonomous drones and intelligent surveillance systems, have transformed the way the defense industry operates. Huntsville-based companies are leveraging AI to enhance situational awareness, improve response times, and increase the overall effectiveness of defense operations.

2. Healthcare AI has also found its way into the healthcare industry in Huntsville. Hospitals, research centers, and pharmaceutical companies are using AI algorithms to analyze medical data, develop new drugs, and improve patient care. AI-driven predictive analytics assist in identifying disease patterns, optimizing treatment plans, and streamlining administrative tasks, ultimately leading to better patient outcomes and cost savings.

3. Manufacturing Huntsville’s manufacturing sector has also seen a significant AI-driven transformation. The integration of robotics and AI in manufacturing processes has improved efficiency, reduced errors, and increased productivity. AI-powered predictive maintenance systems help identify and address

equipment issues before they lead to costly downtime, ensuring seamless production operations.

4. Logistics and Transportation Huntsville’s strategic location as a transportation hub has made the city a hotbed for logistics and supply chain operations. AI plays a vital role in optimizing these operations, from route planning and inventory management to demand forecasting. The implementation of AI-driven algorithms has streamlined logistics processes, reduced transportation costs, and improved overall supply chain efficiency.

5. Cybersecurity With the increasing importance of data security, AI has become a cornerstone in the fight against cyber threats. Huntsville-based businesses are employing AI to identify and respond to security breaches in real-time. Machine learning models can detect anomalies in network traffic and proactively protect sensitive data from cyberattacks.

Challenges and Opportunities While AI presents numerous opportunities for Huntsville’s business industry, it also comes with its fair share of challenges. Workforce readiness is one significant concern, as AI requires specialized skills and expertise. However, Huntsville is addressing this issue through partnerships with local educational institutions, workforce development programs, and technology incubators to foster AI talent.

Another challenge is data privacy and ethical considerations. As AI systems increasingly rely on vast amounts of data, businesses must navigate the ethical implications of data collection and usage.

Regulations and best practices are continuously evolving to address these concerns.

As Huntsville continues to embrace AI, it will be essential for businesses, educational institutions, and government agencies to collaborate in creating a supportive ecosystem for AI development and implementation. By addressing challenges and seizing opportunities, Huntsville is well on its way to solidify its reputation as a city at the forefront of AI innovation, and its impact on the business industry is only poised to grow in the years to come. w

President Biden recently signed a sweeping executive order on artificial intelligence (AI) to strengthen American leadership in this critical technology.

TLDR? The order establishes guidelines and principles for developing safe, secure, and trustworthy AI systems that respect civil rights and manage risk via cooperation on AI standards and responsible development. It also outlines exact sectors that the government and economy should focus on, aided by this AI revolution.

Yes, your work computer may have ChatGPT blocked for now, but nowhere does this order allude to the avoidance or elimination of AI. It clearly describes an AI-enabled government system and economy of the future.

Huntsville is poised to both shape and benefit from this national AI push. Are we ready?

The executive order specifically outlines a need for AI in general contracting, cyber security, and even medical/biotech. With amazing facilities like Redstone Arsenal, Cummings Research Park, and HudsonAlpha, we don’t need to build the resource infrastructure, it’s here! It will take both civil and business leaders to create a culture that will quickly answer these orders.

This is an opportunity for us to become A.I.abama.

A key provision requires federal agencies to rapidly hire more AI experts and invest in training current staff. Huntsville contractors will see increased demand to support the government’s expanded AI workforce.

The trickle-down could result in our colleges seeing greater enrollment in AI-related degree programs and the creation of AI startups that answer the requirements of this order. Only if we choose to answer this call.

New standards for testing and evaluating AI systems will create opportunities for Huntsville’s cybersecurity sector. Companies like SAIC, Accenture, Arcarithm, and others are already working on some of these concerns.

Carl Holden, Creative Director of Zellus Marketing

The FBI’s classified cyber defense facility in Huntsville will also become vital as threats equal opportunities.

As a major government contracting hub, local firms should benefit from provisions streamlining federal procurement of commercial AI services.

The order favors small business participation and entrepreneurs who will find novel ways to apply AI to solve specific problems. ChatGPT releases new versions faster than you can get a single contract on SAM.gov. This is good news for Huntsville’s start-up scene and small tech firms, especially those focused on national security applications.

While regulating technology always carries uncertainty, this order does put guardrails around AI development.

It emphasizes ethics, transparency, and risk management—principles that reflect Huntsville’s culture of engineering excellence and security. However, we also suffer from an over-reliance on safe bets and the status quo. We need more investors to diversify their risks, and we need business leaders to invest resources into unknown territory.

2024 and AI is going to be even more transformative than this year.

We must not fall behind. We have everything we need. While artificial intelligence may be the buzzword, we need real intelligence- smart, capable people waking up and saying, “I choose Huntsville to win.” w

“AI Talks” is a new series from the Huntsville Business Journal on Artificial Intelligence and its applicability to the world of business. Each month, HBJ plans on bringing you interesting topics led by our new contributing expert writer, Carl Holden. This series will also introduce another new “writer” to our journal: Artificial Intelligence itself. Using Chat Generative Pre-trained Transformer (ChatGPT), we plan on bringing our readers an “article” written directly by AI. While AI cannot currently write a news article with fully original sources, this series hopefully will introduce our readers to the nuances of Artificial Intelligence in the modern age of business.

December 2023

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REAL ESTATE

Q3 Real Estate Economic Report Shows Inventory at Pre-Pandemic Levels The Huntsville Area Association of Realtors (HAAR), in partnership with the UAH College of Business, has released its Q3 Economic Report for 2023, which covers the Huntsville-Madison County real estate market.

Of the statistics compiled by the Report, one of the most significant is the housing inventory. Inventory has risen 20% compared to Q3 2022, and is officially back to prepandemic levels. At 1,807 units, the inventory is at the highest level since January of 2018.

The average days for singlefamily units to stay on the market dipped slightly from Q2 2022, standing at 26 days compared to 32 days on average. However, this still marks a 100% increase in average days on the market compared to Q3 2022, where the average was only 12 days.

40% of homes sold during Q3 2023 were at listing price, while 39% sold under the asking price.

That leaves 21% sold at above listing price.

With a total of 1,858 homes sold in Q3, it marks the lowest amount of sales in Q3 since 2016.

The national rate for 30-year, fixed-rate mortgages hit 7.31% in the last week of September, which was the highest level since December 2000. However, this high interest rate has succeeded in checking inflation; the consumer inflation rate for Q3 2023 was 3.7%, which is a 55% decrease from Q2 the previous year, where the inflation rate hit 8.2%.

The median sales price took a minor dip, down to $331,705 from $336,000 in Q3 2022.

HAAR and Valley MLS President Chris Hulser-Hoover commented on the median sales price specifically.

“We are pleased to see the Median Sales Price in Madison County stay around the same rate the last few months. With inventory still on the rise and mortgage rates averaging

close to historical levels, the market is poised and ready for buyers and sellers to enter,” said Hulser-Hoover.

The report concludes that the trends of sales and inventory suggest a likely dip in sales for Q4. This is despite indicators that the median household income for

Madison County rose to $81,000, and the population of Madison County continues to grow, reaching 406,026 in July, swelling the work-

By: Marie Johnson / Photos courtesy of Huntsville Area Association of Realtors

force to 205,157 in August.

The Huntsville Business Journal will continue to monitor and report on real estate market conditions. w

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Huntsville BUSINESS JOURNAL

ARTS & ENTERTAINMENT

Top 10 Can’t-Miss Holiday Events in Huntsville, 2023 Edition The Huntsville Business Journal, with help from partners in the City of Huntsville, has put together our Top 10 most exciting family-friendly events happening in the Rocket City this Holiday Season.

Experience the magic of the Holiday Season in Huntsville with a lineup of festive events that promise to spread joy throughout December.

From the month-long enchanting Christmas on the River at Ditto Landing to the iconic seasonal Skating in the Park, there is something for everyone.

Christmas on the River – Ditto Landing – December 1-31 Ditto Landing’s second annual Christmas on the River runs all throughout December. Visitors will have the opportunity to purchase fresh Christmas trees from the tree farm and explore Christmas Card Lane, filled with 4-by-8-foot colorful Christmas cards. Ditto Landing will also host one-off events including Holiday fireworks on December 8 and a Christmas market on December 9.

Yule Y’all – Lowe Mill ARTS & Entertainment – December 2

Lowe Mill’s annual Yule Y’all event is its only holiday-specific shopping event of the year. Lowe Mill is decking its halls with unique seasonal art and lighting its iconic water tower at 5 p.m. In addition to being a great chance to explore Lowe Mill’s year-round artists’ work, visitors will be able to peruse artisan goods from across the south in an outdoor market while sampling local spirits.

The Huntsville Flea Holiday Market – The Roundhouse – December 3

This holiday market centered around vintage clothing, decorations, vinyls, and more is a free event welcoming leashed pets and people of all ages.

Holiday Movie Trivia Nights – The Camp – December 6, 13,

By: Laura Boehringer / Photos courtesy of Huntsville/Madison County CVB and Lowe Mill Arts & Entertainment 20, 27 Fans of seasonal movies have the chance to win prizes for their trivia chops at The Camp! With games surrounding “How the Grinch Stole Christmas” on the 6th, Rankin-Bass night, an homage to the animators who created titles like “Frosty the Snowman” and “Rudolph the RedNosed Reindeer” from the ‘60s to ‘80s, on December 13, “Elf ” on December 20, and “Home Alone” on December 27, all of your nostalgic holiday movies are covered.

Tinsel Trail – Big Spring Park – November 24 – December 31 Tinsel Trail runs throughout Big Spring Park featuring more than 400 unique Christmas trees decorated by local people and organizations.

Last year’s display included a tree made of sculpted rebar. Tinsel Trail is a great addition to a stroll through Big Spring Park and some fun at

December 2023

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ARTS & ENTERTAINMENT

Skating in the Park.

Skating in the Park – Huntsville Museum of Art – November 17 – January 7 Skating in the Park spans scenic views of the Huntsville Museum of Art and Big Spring Park with atmospheric lighting. In addition to running daily, special events like Family Night with free skate rentals and a discount and DJ nights add flair. The event also offers skate and supportive scooter rentals to help accommodate many ages and levels of ability.

Star of Bethlehem – U.S. Space and Rocket Center – December 15, 21, 22, 23, 30 Learn about the Star of Bethlehem as a celestial event in its stunning planetarium. The Space and Rocket Center intends to balance science and religion, exploring what celestial event could have led the Magi to the Nativity.

Winter Park – Orion Amphitheater – November 30 – January 1 Winter Park is the perfect destination for varied holiday activities

with kids. All in the same destination to save you several commutes, taking photos with Santa, train rides, curling, ice skating, watching holiday movies, caroling, popcorn roasting, and s’mores kits are all on-site for your convenience.

NYE Party Life Huntsville – Embassy Suites Ballroom – December 31 – January 1 Ring in the New Year with DJ Swagg AKA The Crowd Pleaser at Embassy Suites! Celebrate the end of 2023 with music, dancing, drinks, and hors d’oeuvres. If you’re not ready to go home when the fun has stopped, take advantage of exclusive hotel packages at a reduced rate.

The Live 5 New Year’s Eve Edition – Von Braun Center – December 31 – January 1 If you’re looking for variety in your New Year’s Eve entertainment, fit five parties in one night for one cover charge with The Live 5. With five VBC ballrooms booked, each party has drastically different themes: Latin, Caribbean/Rasta/Island, Top 100/

Pop/Rock/Country/House, Hip Hop/ R&B/Blues/Old School, and Karaoke/ Neo Soul/Live Music/Performances.

This is also the ideal event for going out with your friends who have drastically different music tastes. w

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Huntsville BUSINESS JOURNAL

COVER COVER SS

Alabama’s Holiday Cyber Crisis: Ho By: Noah Cyber security has become a pressing concern for many states across the US, and Alabama is no exception.

With an ever-evolving landscape of cyber threats, the state faces significant risks that can have detrimental effects on its economic well-being, but how serious are these risks?

A recent article published early in November from VPNPro.com aimed to reveal which states have lost the most money per-victim due to online scams over the last year – with Alabama shoppers named ranked largest victims. Their claim for this ranking stems from Alabama’s #1 rank when it comes to “amount lost per victim,” with $50,670 lost per victim from 4,893 cases. This was substantially higher than New York at #2 with $30,945 lost per victim in 25,000 cases.

These numbers seem astounding and worrying, especially for Huntsville citizens heading into one of the busiest online shopping times of the year. According to CNN.com, more than $200 billion was spent last year on online transactions alone in November and December, and this year’s numbers do not indicate this

“shoppers will need to be careful when shopping online this Black Friday.”

Photo courtesy of Huntsville/Madison County Convention and Visitor’s Bureau

trend will stop any time soon. So, do Huntsville shoppers have a reason to be worried about cyber security and financial loss?

The Huntsville Business Journal reached out to various experts in the field in order to determine what this really means.

In a recent interview, Karen Williams, a cyber security engineer and owner of Cyber Brews in Huntsville, shed light on the data used in the report and the factors contributing to Alabama’s vulnerability along with the need for greater awareness and action to protect against cyber dangers.

Williams argued that the alarming message sent by such incomplete reports only serves to benefit those who profit from heightened cyber security concerns. VPNPro is certainly one who does benefit as the website does make money from the sale of VPN and Antivirus software via affiliate links throughout the website.

She noted that without considering variables like population density and economic value, these rankings paint an overly simplistic and distorted picture of cybercrime vulnerability. Williams also stressed the need for a more comprehensive and transparent approach towards representing cybercrime statistics to ensure accuracy and fairness.

For example, the report fails to mention that the government and manufacturing sectors made up the vast majority of the victims in the state when it talks about how commonplace “phishing” is and how “shoppers will need to be careful when shopping online this Black Friday.”

Despite the flaws in the ranking system, Williams made it clear that Alabama does face significant cyber threats. Business email hacking and phishing attacks are particularly pervasive, posing a

December 2023

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R STORY STORY

How Worried Should Shoppers Be?

Noah Logan

“The thing that stood out to me about this report is that Alabamians aged between 30 and 39 years old lost $187.4 million dollars” considerable risk to the state’s economy. Smaller businesses within the supply chain are especially vulnerable to these attacks, which can have far-reaching consequences.

Targeting Key Industries: Manufacturing, Finance, and Government Williams also highlighted the heightened risk of cyber attacks targeting key industries in Alabama, such as manufacturing, finance, and government. She emphasized that no organization is safe from cyber threats, regardless of their size or level of sophistication. The interconnectedness of these industries makes them attractive targets for cybercriminals, who seek to exploit vulnerabilities and gain unauthorized access to sensitive information and systems.

Education and Awareness: Addressing Vulnerabilities in Tech-

savvy Age Groups Contrary to popular belief, Williams debunked the assumption that elderly individuals are more vulnerable to cyber threats. Instead, she emphasized the need for increased education and awareness within tech-savvy age groups, particularly those aged 30-39.

This demographic often exhibits overconfidence in their ability to protect against cyber threats, making them susceptible to social engineering tactics and other sophisticated attacks.

CEO of PhishFirewall Joshua Crumbaugh, who is an Ethical Hacker and Social Engineering expert, echoed

this sentiment.

“The thing that stood out to me about this report is that Alabamians aged between 30 and 39 years old lost $187.4 million dollars,” he explained.

“This means that most of them are young professionals, likely small business owners taking the majority of the hit. This tells me that we need to do a better job as a state educating people about the dangers of cyber attacks and the different tactics the bad guys use to trick people. Typically we see the oldest and youngest groups being the most at risk, but in this case we see this group represent-

ing over 75% of the total losses. We need to start training people about security awareness in grade school and we need to do more to help small business owners get ahead of cyber threats,” concluded Crumbaugh.

Investment Fraud: Mitigating Risks and Making Informed Decisions Another area of concern raised

by Williams is investment fraud. She urged individuals to approach investment opportunities with caution, recognizing the volatile nature of markets and the potential for cyber attacks to disrupt financial systems. Informed decision-making and proactive risk management are crucial in mitigating the potential impacts of such attacks and safeguarding personal and business investments.

In conclusion, both Williams and Crumbaugh called for continuous education and action to foster a secure cyber ecosystem within Alabama.

The state must recognize the significant threat posed by cyber attacks and take the necessary steps to protect against them. This includes investing in robust cyber security measures, promoting awareness and education among individuals and organizations, and prioritizing proactive risk management. Failure to do so could have damaging implications for the overall economic health of the state.

However, conversations with professionals, like Williams and Crumbaugh, illustrate how statistics do not always paint the full picture. w

Photo courtesy of Huntsville/Madison County Convention and Visitor’s Bureau

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Huntsville BUSINESS JOURNAL

WORKFORCE DEVELOPMENT

5 Mindsets to Avoid at Work We all know that happiness and satisfaction have a lot to do with perspective. If a person chooses to only see the mistakes, the failures, and the negative aspects of the world around them, they will be unsurprisingly full of gloom and bitterness.

Those who strive to focus on the positive aspects of their life and see the “silver lining” even in bad situations tend to be much happier and less stressed than their pessimistic counterparts. This same logic applies in the workplace as well.

The following are five negative mindsets that could be hindering your success and joy within your professional career.

Overgeneralizing This is a common trap people fall into by using words like “always” and “never”. “He is always late for work” or “she never meets project deadlines” may be common accusations heard around the office, but these exaggerations actually undermine the criticism and hurt its legitimacy.

Instead of using broad phrases, management should always strive to be very specific, especially when giving critical feedback. Noting that an employee has been late three times in ten days is specific and tangible. While this is an issue that likely needs to be addressed, it is important to avoid hyperbolic statements like the ones above. Setting reasonable and measurable goals, whether for growth or corrective action, is also important.

Negative Filtering Normally, if an employee receives a performance review with three ‘excellent’ ratings and one ‘needs improvement’ rating, the overall impression should feel pretty positive.

However, if they have fallen victim to negative filtering, they will perceive this review as a total failure.

This mindset functions much like an inverse confirmation bias, where the individual ignores any positive feedback and instead only really hears and internalizes negative input. Leadership can directly contribute to the spread of this mindset if they only focus on addressing errors and pointing out mistakes. This is why it is important for management to acknowledge

where the business is succeeding and to celebrate victories and milestones when they occur.

Exempting This mindset occurs when we believe the rules or expectations do not apply equally to ourselves as they do everyone else. While most individuals are not so bold to admit this outright, many fall into this trap in more subtle ways.

Thoughts such as “it’s okay if I’m a little late, the boss loves me” or “they won’t lay me off, no one on my team can do what I do” are examples of this type of thinking. This can be especially destructive if the person or people who believe the rules don’t apply to them are in management. Good leaders know that you must lead by example.

Demonstrating character and role modeling positive behaviors raises the bar for others within the organization.

Catastrophizing An individual with this mindset is not only incapable of seeing the positive aspects of their circumstances, but will often draw irrational conclusions or grossly overreact to mistakes and errors. For example, they might conclude that by not passing a test, they will ultimately fail the whole class, be unable to graduate, never obtain a degree, and, therefore, be left completely unemployable.

When faced with this type of mentality, it is important to keep things in context and create a more balanced, honest picture of the circumstances. It is also recommended that limiting exposure to news media and social media may be helpful as these outlets tend

to fan the flames of panic rather than douse them.

Labeling When we assign attributes to ourselves or others, instead of citing actions or specific incidents, we are guilty of this mental trap. For example, saying things like “I am such a failure” or “he’s just lazy” can be brutal and it leaves little room for potential growth.

By: Alexander Duck, II Instead, it is usually better to focus on actions and measurable results.

Leadership should feel comfortable discussing things like metrics, productivity, learning opportunities, and areas for improvement, and avoid using personal labels whenever possible. This helps to make critical feedback seem less personal and helps to minimize prejudicial thinking in the future, both internally and externally.

Conclusion The fields of modern psychology and communication have taught us that how we speak to others and ourselves can have a profound impact on the quality of our lives. While not all of them are listed in this article, recognizing which negative mindsets we are most susceptible to personally presents a great opportunity for future development. Fostering a positive, growth mindset is key to unlocking our own potential and drawing out the best from those around us. Every rainbow is born as the result of a storm. w

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Huntsville BUSINESS JOURNAL

COMMUNITY DEVELOPMENT By: Laura Boehringer / Five Points Represents Photos by Gus Wintzsell Re-Urbanization and Commercial Capacity of Downtown Huntsville Districts Five Points has seen an upsurge in events, reinvestment in older homes, and commercial growth as a result of a wave of intense re-urbanization to the area.

The area has changed dramatically over the years, but economic and real estate investment in the area has never been higher, prompting interesting questions as to the appeal of the burgeoning area.

The Huntsville Business Journal recently sat down with local representatives and officials to discuss the Five Points area and its explosive growth.

According to Dennis Madsen, Manager of Urban and Long-Range Planning and long-time resident of the area, one of the key characteristics of the Five Points district is the term “re-urbanization”.

Re-urbanization, from a public policy perspective, refers to the movement of people back into an area that has been previously abandoned. Re-urbanization is usually a government’s initiative to counter the problem of inner city decline Madsen said that the first ten years his family lived in the area, they could probably count on one hand how many new houses were coming up.

“It’s going gangbusters, I think,”

“A common thing, not just with Five Points is that as cities re-urbanize, you’re seeing more folks appreciate the value of living in the core.”

Madsen said. “A common thing, not just with Five Points is that as cities re-urbanize, you’re seeing more folks appreciate the value of living in the core.”

As a result of re-urbanization, Madsen explained, people have become more flexible in terms of prices and subdivision, “in part driven by the schools, but in part driven by the fact that you’re a 30 second drive from downtown, you’re close to employment, you’re close to attractions, and it starts to make sense.”

City Council President David Little, Director of Urban and Economic Development Shane Davis, and Madsen all agreed that the progress of development in downtown has expanded out, resulting in the success of neighboring communities like Five Points.

“What we’ve added downtown is the gravitational pull of people want-

ing to live closer to it and businesses wanting to be part of it,” Davis said.

Davis further described downtown development as a “light little nudge and then the wheels just turn a little faster, downhill and, once you get over the top, it goes well.”

In addition to being home to a historic residential district, having a strong single-family home proponent, and being “ground zero” for Trick-or-Treaters, the area has a nice commercial core near Pratt Avenue and Andrew Jackson Way. The development of The Stella at Five Points will be introducing 220 more residential units as well as 22k sq. ft. of retail space, which is expected to attract more small businesses.

Anchor tenants of the area include Star Market, which is a historic grocery store and pharmacy serving the community since 1944. Within walking distance of many of the revitalized streets of Five Points, Star Market includes Huntsville-famous Terry’s Pizza. Other important tenants include traditional food scene Tavern 1892 and newcomers The Curry Modern Indian restaurant.

Other amenities in Five Points include new curbs, streetlights, sewer lines, pocket parks, Maple Hill, a historic cemetery with many mature trees offering tours and occasionally

hosting events, and phase one of a drainage improvement plan.

“A sometimes underappreciated amenity is Maple Hill. And after a while, established cemeteries stop being just cemeteries and become functional parks. People go in there; they’re useful,” Madsen said.

According to Davis, Five Points has a culture of unity, with the appeal of a smalltown “everybody-knowseverybody” dynamic.

Five Points also has its hands in downtown arts and entertainment development, with examples like the annual PorchFest, a free outdoor music festival. Since its debut in May 2021 starting out as an “underground jam session” PorchFest has added vibrancy in the neighborhood turning front porches into stages and yards into audiences.

“It’s become something really unique and really cool,” Davis said.

When Pratt Avenue closes for PorchFest, Little, Shane, and Davis agreed that the event draws a vibrant crowd from all across town, promoting business in the area.

Overall, Five Points is another local gem experiencing dramatic growth and quality of life improvements, which leaves little imagination why the area is seeing population and business growth. w

December 2023

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COMMUNITY DEVELOPMENT

Unveiling the Rich History of a Cornerstone Small Business in the Heart of Huntsville Harrison Brothers Hardware Store has been a fixture in our city for over a century. Stepping through its doors is like entering a portal to a different time; the shelves are packed with goods from the early 20th century, the aisles are narrow in stark contrast to the ultra-wide, industrial-scale big-box stores of today, and the wooden floors creak and groan with the weight of history with each step one takes inside.

To see such a store preserved and still operational is a gift, one that will ensure that future generations will, at the very least, be able to see what a small business, a shop, looked like in a future that looks to be increasingly-dominated by a cold and impersonal commerce of scale.

Amidst the old-time merchandise, behind the window display of a toy train set, there stands a section of the store that is immediately different from the rest.

That section of the venerable little shop is dedicated to an exhibit, established by the Historic Huntsville Foundation, which tells the story of Henderson Brandon & Son, the local Black-owned construction firm that erected the building in the days of Reconstruction.

It was here that the Huntsville Business Journal met with Donna Castellano, the Director of the HHF, as she spoke about the work that HHF had done and what it was planning to do for the community in the future. Our conversation was interrupted by curious patrons, whose questions Castellano addressed with the practiced ease and effortless expertise of an experienced public historian. Far from an inconvenience, the unexpected interruption helped illustrate the tangible benefits that the HHF’s work has on the community.

Ultimately, it all comes down to community.

“There’s a narrative,” Castellano said, “that says that, well, with the German scientists coming after World War II, and the establishment of the space program, that Jim Crow conditions only began easing due to Federal pressure over that. But history, in practice, has tended to disregard the agency of the African-American community, and as we’re discovering, people exercised their agency in whatever ways they could, and that’s the history that we’re looking to uncover.”

Community members gather as Harrison Brothers Hardware Store receives recognition as a part of the Reconstruction Era National Historic Network

As the Director explained, many of the documents, such as newspaper clippings, photographs, or genealogies traditionally found in family Bibles, were brought forward by everyday Huntsville residents, who, as she put it, “had never been told before that what they had was important, that it mattered.”

One of the anecdotes that she relayed to me was the heart-rending account of a friend of hers whose mother-in-law had been one of only six Black women in Madison County to successfully navigate the various obstacles put in place to prevent Black women from voting after the ratification of the 19th Amendment. She had kept the Poll Tax receipt from her visit to the polls.

Castellano’s friend, out of ignorance of the historic value of the receipt, threw it out while cleaning.

Fortunately, there are still many other objects or documents of historic value that can lead Casellano and the HHF to other, unsung stories that can be shared with the community. With that said, Huntsville’s greatest historic resource are our elders, and it’s from one such interaction with an older gentleman that Castellano got the lead for their next exhibition.

When at an event for another historic dedication, an older gentleman demanded that Castellano take out her smartphone and look up Johnson v. City of Huntsville, (1947), and, upon her doing so, started the Director on the path towards showcasing litigation as a way by which Black Huntsville residents exercised their agency in undermining Jim Crow and defending their rights.

Johnson v. Huntsville was a case

Harrison Brothers Hardware Store located on the square in downtown Huntsville

By: Marie Johnson / Photos by Marie Johnson

brought forth by Shelby Johnson, a Black owner of a successful dry cleaning business. In 1947, he sought to construct a dry cleaning plant on Franklin Street. The city actually issued him the permit before a group of white residents made objections. The resulting lawsuit went before the Alabama State Supreme Court, and featured prominent Black lawyer Arthur Davis Shores. In a fascinating turn of legal events, Johnson actually won his case, and the building they constructed on Franklin Street stands to this day.

Of course, the lawsuit wasn’t the first time that Shelby Johnson and his family had acted in defense of their rights against segregation; a younger Lou Bertha Johnson, Shelby’s wife, was one of the six Black women in Madison County to successfully register to vote in 1920, a demonstration of how the struggle for justice intersected on lines of race, gender, and class.

While the details of a future public presentation or exhibit are still in the works, the HHF is planning an exhibit to showcase these events sometime in 2024.

Such exhibits are an important part of explaining historical events in greater detail, and in a way that speaks to the community. As Castellano explained, “When the unveiling for a marker is done and the press goes home, all that remains is the marker, and it can be hard to convey the information on a marker in its proper context.”

That’s why the exhibit on Henderson Brandon & Son currently displayed at Harrison Brothers Hardware will be going on the move, with planned showings in Decatur, Madison, and Wall Triana, places where the firm also constructed buildings which have survived to today.

“History didn’t just happen downtown,” said Castellano.

The Historic Huntsville Foundation is always looking for ways to involve the community in their next undertaking. If you or someone in your family have something that you feel could be of historical significance - such as legal documents, written correspondence, journals or the like - the HHF invites you to contact them to discuss if it may be of interest. They can be contacted by phone at 256-508-5372, or by email at Donna@ huntsvillehistoryfoundation.org. w

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Huntsville BUSINESS JOURNAL

ECONOMY

Huntsville’s Job Creation Numbers Supporting Commercial Real Estate Through Rising Interest Rates It has been fairly well documented this year how rising interest rates have affected the housing markets in the Huntsville area compared to nationwide trends. However, what effect are these rates having on the commercial development side of the real estate sphere? To answer this question, the Huntsville Business Journal talked to local experts while also looking at some publicly available data that aims to reflect the attitude of those in the industry.

The AL CREI measures commercial real estate expectations for the upcoming quarter gathered from a broad group of professionals working in commercial real estate and related fields. Eight key indicators create a composite index of overall market conditions and an outlook for specific property types.

Through the survey, panelists can take the pulse of the state’s commercial real estate market as well as compare their own forecasts to those of their peers. Index scores above 50 indicate a positive outlook while Index scores below 50 indicate a negative outlook.

The Huntsville metro area had the lowest CREI of the participating Alabama metros with an index of 35.2, indicating strong confidence and an negative outlook in the overall forecast. Panelists from the area expressed strong confidence that statewide CRE market conditions will worsen in Q4 2023 (37.5). Additionally, panelists from the area are strongly confident that construction costs (37.5) will increase in Q4 2023 compared to the previous quarter. Panelists are moderately confident that interest rates (40.6) will increase in Q4 when compared to Q3 2023.

The Journal spoke with Tim Singleton, Executive Vice-President and Senior Commercial Lender of Bank Independent. In an interview with Singleton, he was able to explain exactly how developers are feeling the effects of the rising interest rates. According to him, the most tangible effect currently is the rise in the amount of equity de-

velopers have to contribute in order to support commercial loans.

“Typically in the past, you would see projects where the developer would put in 20% to 25% equity.

Those numbers are now 40% to 55% equity, in order for the same set of cash flow to support the same type of loan. So you’ve got projects that just don’t make sense, unless you’re prepared to put in tons of equity,” Singleton explained.

Singleton also went into greater detail about how Huntsville’s job creation numbers are offsetting some of the risk and still making these development projects successful.

“The thing that we study constantly right now is job creation. I was able to have a conversation with city officials recently and there’s still a high degree of confidence that we’re going to have 22,000 to 30,000 new job jobs created in the next three years. And if that is the case, every one of those jobs is basically a household and they have to have a place to live. They have to have people to make them drinks and to groom their dog. They’ve got to have groceries. So, there’s this multiplier effect. People are willing to take the risk to put in more equity to build houses and build everything else because there’s a supply issue there.

There’s a need for industrial space and

office space and you know, the retail environment needs to be curated.

There’s a catch 22. A lot of the projects are good, but it’s so expensive to own them,” said Singleton.

Singleton concluded by predicting that the effects on the development side of the industry will remain steady throughout the next calendar year with more projects possibly being impacted in 2025.

“There are a lot of projects that are already started and will be delivered in 2023 or 2024. But I think when we get to the back half of 2024 into 2025, you’re not going to be seeing as many ribbon cuttings and grand openings because we’re already starting to see people who are backing away,” Singleton remarked.

Brasfield & Gorrie Vice President and Division Manager Sara Beth Wilcox echoed this same sentiment regarding Huntsville’s job creation numbers when asked about the same topic.

“It takes years for commercial real estate deals to come together. No developer who was starting to put together a deal three-plus years ago anticipated putting a 8 percent interest rate in their pro forma. But current conditions have left developers asking if the Huntsville market is strong enough to support higher rates.

By: Noah Logan / Photo by Gus Wintzell

“Some developers have hesitated, but these rates aren’t stopping every deal. However, because of the influx of new folks to Huntsville, the region is able to support a lot that other cities in Alabama or the Southeast could not,” said Wilcox.

Wilcox also mentioned how Huntsville represented a very unique case in the realm of Commercial Real Estate due to the city’s ties with the government and military spending.

“Huntsville is also an interesting case because contract opportunities for government contractors are robust.

We’re certainly not seeing slowdowns for work on the Arsenal, for example.

Government contractors have been hired or are competing to be hired for specific needs. This sector is more focused on speed and having the space to complete their work, which means the demand for space isn’t as affected by market conditions,” remarked Wilcox.

During the interview, Wilcox made a point to remind readers that, while we might never see the low interest rates of the 2020 pandemic timeline, Huntsville’s population boom has certainly provided the catalyst needed for further commercial and infrastructure construction investments, regardless of the interest rates.

For Wilcox, much like Singleton’s viewpoint, there does not seem any indication for the commercial construction market to slow down any time soon.

“There are enough new services to keep many deals moving forward,” concluded Wilcox.

Going off the analysis of these two experts, it seems that Huntsville’s status as a hub for government and military contracts are supporting the commercial real estate market through the recent rise in interest rates. As long as more jobs are created and more people are moving into the area, the industry should be able to avoid taking any major hits for the upcoming future. w

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ADVERTORIAL

Tupelo Announces Exciting Line-up of New Years Events Get ready to ring in the New Year at Tupelo’s New Year’s Eve Party. The annual event is set to return with a diverse line-up of bands on two different stages in Downtown Tupelo. Held in a safe, secure environment, this party has something for all ages to celebrate the start of 2024.

BankPlus KidsFest kicks off the night at 6:00 p.m. on the BNA Bank Stage at Fairpark with entertainment and music for the entire family. The Blind Eye DJ hosts a dance party at 6:30 p.m. and BankPlus KidsFest ends with an epic fireworks show at 8:00 p.m.

The entertainment line-up for Tupelo’s New Year’s Eve Party is jampacked with songs to keep everyone dancing until midnight. DJ Gucci Girl gets the party started at 6:00 p.m. on the Renasant Bank Stage at Broadway.

The Bluff City Bandits, a high-energy country cover band, take the stage at 8:00 p.m., followed by City Mix, Memphis’ newest party band, at 9:45 p.m.

Meanwhile, on the BNA Bank Stage at Fairpark, MixTape takes the crowd back to the 1980s with music from the decade of big hair and neon at 9:00 p.m. Tupelo’s New Year’s Eve Party culminates with D’ivine Play, a New Orleansbased party band, headlining the celebration at 10:30 p.m. in Fairpark.

The grand finale includes a countdown to midnight, ball drop, and fireworks display.

With over 2,200 quality hotel rooms, Tupelo has an array of lodging options for your New Year’s

Eve weekend getaway. Looking to stay close to the action? Plan your stay at Hotel Tupelo or the Hilton Garden Inn, both located in Downtown Tupelo’s Fairpark.

Visit tupelo.net/stay to check out all of Tupelo’s accommodating properties.

Be sure to check out Tupelo’s unique culinary scene by arriving in town Saturday before the big party Sunday night. Enjoy a tasting at Queen’s Reward Meadery, Mississippi’s first and only meadery, or explore the Cocktail Trail to sample some of Downtown Tupelo’s craft cocktails.

With over 200 restaurants, the power of possibility is yours when it comes to your next great meal in Tupelo. Since Sundays in the South can be a little slower than other days of the week, visit tupelo. net/newyear to stay up-to-date on which local restaurants will be open December 31.

With so much to celebrate in 2024, start planning your Tupelo’s New Year’s Eve Party getaway today.

Visit tupelo.net/newyear to get all of the details and imagine what you can do here!

The above story is an advertorial paid for by the Tupelo Convention and Visitors Bureau.

For more information, please visit www.tupelo.net. w

New Art or Pickup?

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Huntsville BUSINESS JOURNAL

ADVERTORIAL

Kimberly Byrge: The Visionary CEO Behind OTC, Inc.’s 2023 Woman Owned Business of the Year Win In the heart of North Alabama, a remarkable leader is making waves in the world of business. Meet Kimberly Byrge, the visionary CEO of OTC, Inc., who has been named the 2023 Woman-Owned Business of the Year by the Huntsville/Madison County Chamber. Kimberly’s inspiring journey is a tale of legacy, dedication, and innovation that has catapulted OTC, Inc. to unprecedented success that was showcased at the recent 38th Annual Small Business Awards.

A Legacy to Uphold Kimberly Byrge’s story begins at the heart of OTC, Inc., a company she helped co-found over two decades ago.

However, Kimberly’s journey with OTC was working within the organization for over a decade first. She mentored under the company’s founder & previous CEO, Thomas Bennett, being in the rooms and meetings with clients and partners as well as being prepared to take over. She ultimately ascending to the role of CEO, and majority owner, her rise is a testament to her dedication, discipline, and leadership.

But Kimberly’s journey has not been just about preserving her company’s legacy and reputation; it’s about setting audacious goals and reaching for the stars. Since assuming leadership in 2021, she has begun the push to propelled OTC, Inc. to new heights, guiding the company with a clear vision and unwavering commitment to excellence.

Recognizing Excellence Kimberly’s leadership was recently celebrated when she was named the 2023 Woman-Owned Business of the Year by the Huntsville/Madison County Chamber. The competition in this category was fierce, with the largest number of contenders vying for the prestigious title. Kimberly’s remarkable achievements, and her impact on the community through her servantleadership stood out in this highly competitive field.

“Words cannot express how thankful I am to have received this coveted 2023 Woman-Owned Business of the Year award from the Huntsville/Madison County Chamber. In the group of over 6,500 woman-owned businesses

in Huntsville / Madison, the competition is fierce. I know many of you, and I am so proud to be in the company of all of you. It is not the company, but the people in the company. They are the heartbeat of our community. I really appreciate all of those we serve, including our war fighters. I couldn’t be more proud of the work we have done to date, and I am even more focused now to continue our path of excellence, collaboration, and initiative,” Kimberly Byrge humbly expressed.

A Commitment to Growth Kimberly’s role as CEO extends far beyond business meetings. She has championed a culture of community involvement and advocacy, herself serving on the board of Women in CyberSecurity (WiCyS) North Alabama Affiliate.

This underscores her dedication to networking, community engagement, and the advancement of women in the technology and government sectors.

Furthermore, Kimberly has forged a pivotal partnership with Bailor Group LLC, a management and marketing consulting firm specializing in growth strategy. This partnership has propelled OTC, Inc. to overcome internal and external challenges, enhance its brand image, and establish itself as a trailblazing woman-owned business.

“Bailor Group has been instrumental

in evolving my understanding of my role as a CEO. We’ve developed actionable strategies and measurable goals for our company,” said Kimberly Byrge, CEO of OTC, Inc. about Bailor Group, “Sonya Bailor’s guidance has enabled us to streamline processes, improve productivity, and increase profitability. I’m excited about our future collaboration, and I know that the possibilities are endless. We would not have this award without all of the effort and growth she has brought to OTC. And I would not have the confidence I do today without her. The future is bright!”

Kimberly Byrge emphasized her gratitude to Sonya Bailor,

Photo by Jeff White Photographer

CEO of Bailor Group.

A Visionary CEO’s Journey Kimberly Byrge’s journey as CEO of OTC, Inc. serves as a shining example of resilience, leadership, and a commitment to positive change. Her success story is not only about her vision but also embodies the core values of OTC, Inc. - Excellence, Collaboration, and Initiative. The grit and grace through the growing pains is something that many other woman-owned small business leaders can relate to on a very personal level.

As we celebrate Kimberly’s remarkable achievements, one thing is clear: the future holds boundless possibilities for this visionary CEO and the company she leads.

For more on Kimberly Byrge and OTC, Inc.’s incredible journey, please visit ohiotech.com. w

December 2023

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ADVERTORIAL

Angels & Company Looks to Break into Huntsville Market When Frances Jones started Angels & Company 7 years ago, she had one goal in mind: to build on the historic legacy of sewing in Monroeville, Alabama and create timeless, fashionable clothing that helps “children be children.”

Back in 1937, Vanity Fair began sewing and manufacturing in the Monroeville community, which in the words of Frances, wove itself into the very fabric of the community.

“There is a long legacy of sewing that dates back to 1937 when Vanity Fair came here. This community has seen generations work with sewing, and I believe that we represent that with this company.

This community is woven together, so to speak, and we look forward to representing this legacy to clients in Huntsville,” Jones mentioned.

The textile industry blossomed, and with it the sewing talent that is still seen to this day represented in every garment coming out of Angels & Company’s doors.

When Vanity Fair closed its doors 2008, it left an important gap in the workforce development of the community.

Uncertainty became a challenge of many ex-employees, who moved across the state in search of work.

Jones saw this uncertainty, and decided to build a company that built upon the historic legacy created in Monroeville. She saw her company filling an important gap in the economic development of her town.

Alongside her dream of creating clothes, Jones’ goals included tapping into the local workforce to provide jobs in her area. She built up a core of ex-Vanity Fair sewers from across the state and brought

them home to Monroeville, many who are still working for her to this day.

Important to this economic model was also providing a product that is truly American. Angels & Company proudly boasts an industry product, from design and manufacturing, that is 100% U.S. based.

“It is very hard to break into this industry, as many clothing design and manufacturing companies have designed to cut costs by locating manufacturing overseas. We believe in the value of providing jobs for the talent we have here, and we have a ton of pride for U.S. made products, so we made that a core component of our business model,” said CEO Brett Maughon.

Angels & Company boasts an impressive line-up of clothing focusing on filling a gap in children’s clothing based off of traditional design. The various designs lean heavy on traditional southern designs that represent all that Monroeville has to offer.

The best example, according to Jones, is Angels & Company’s marquee collection: The Heirloom Collection. This line of clothing envisions classic, traditional clothing design that aims at upholding the brand’s core mission of providing fashionable, but practical, clothing for kids.

In each of Angels & Company’s collections, there is an exquisite sense of design and community representation.

For Jones, Angels & Company’s story and current impressive line-up of clothing represents an important connection to the Rocket City, one that she believes is imbued in the mission of her company.

“Angels and Company children’s clothing is not just about stylish children’s fashion; it’s a symbol of resilience and community spirit, much like the heart and soul of Huntsville, Alabama. The story behind Angels and Company not only warms the heart but also draws intriguing parallels to the spirit of Huntsville and its own narrative of perseverance,” said Jones.

For more information or to view Angels & Company’s product, please visit www.angelsandcoclothing.com. w

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Lockheed Martin Opens 25,000-square foot, $16.5M Missile Defense Lab Lockheed Martin (NYSE: LMT) opened a $16.5M engineering facility at its Huntsville campus, introducing more capabilities for missile defense innovation in North Alabama.

This facility is a Lockheed Martin capital project and provides evidence of Lockheed Martin’s investment in the Huntsville community, increasing opportunities for growth and advanced capability in North Alabama at the company’s Huntsville campus. The new Missile System Integration Lab (MSIL) is where Lockheed Martin plans to conduct development, testing, and system integration for the nation’s next long range ballistic missile defense interceptor – the Next Generation Interceptor (NGI) – for the U.S. Missile Defense Agency (MDA).

The MSIL will also house a digital engineering center and key infrastructure to create and maintain a digital thread throughout the integration process.

“Lockheed Martin is committed to North Alabama and this facility is further evidence of that,” said Robert Lightfoot, executive vice president of Lockheed Martin Space. “We are pleased to celebrate adding an advanced facility to our Huntsville campus today — the same year we mark 60 years in the Rocket City supporting our customers.”

The new lab’s concept is strengthened by Lockheed Martin’s decades of experience and expertise supporting the U.S. missile defense mission, across the product lifecycle and all phases of flight.

“This facility serves as a testbed to prove out our hardware and software integration, adding new levels of digital capability, agility and connectivity with our customers,” said Sarah Reeves, vice president of NGI at Lockheed Martin.

“It is another example of Lockheed Martin’s investment in the technology and advanced facilities critical to reducing risk for our NGI program. The MSIL brings us even closer to flight testing and production of our interceptor, which will revolutionize U.S. homeland missile defense.”

NGI program headquarters is located in Huntsville, where Lockheed Martin is bringing jobs, infrastructure and investment to help strengthen the region as a thriving excellence hub for missile defense.

The company is also planning to break ground this year on two state-ofthe-art facilities in Courtland, Alabama, which will add missile production space and a payload manufacturing center supporting its growing portfolio of capabilities in the state.

For more information, please visit www.lockheedmartin.com. w

Boeing Breaks Ground on New PAC-3 Factory Expansion On November 13, Boeing celebrated the groundbreaking of a new Patriot Advanced Capabilities Three (PAC-3) seeker factory expansion, which is expected to increase annual production by over 30 percent.

Jim Ryan, Boeing’s Director of Integrated Air and Missile Defense, emphasized the importance of the expansion for production of PAC-3s.

“The Boeing seeker allows the Patriot Missile to identify, trap, and defeat a range of air and missile threats. It’s not an overstatement to say that the Patriot Missile saves lives. It’s simple. it saves lives,” said Ryan.

Ryan noted that the Patriot mission has been going on for over 20 years, and Boeing celebrated delivering its 5,000th seeker. He also mentioned that Boeing’s 35,000 square foot expansion will “greatly enhance our ability to meet growing air missile defense needs globally and help us protect service members and civilians around the world.”

Congressman Dale Strong expressed excitement for what developments like the PAC-3 expansion do for North Alabama.

“The PAC-3 missile seeker expansion is the kind of growth that we like to see in North Alabama. Now, the work that will be completed here is absolutely essential

for protecting the warfighter and our allies and the growing threats we’re seeing,” mentioned Strong.

The Congressman said the presence of companies like Boeing show North Alabama’s potential to accelerate existing business growth, attract job seekers, and innovate.

The ceremony closed with the announcement of Boeing’s 2023 Higher Education Grant for Alabama, which awarded seven institutions a total of $415 K. Award recipients inluded Alabama A&M University, Auburn University, Calhoun Community College, Drake State Community and Technical College, University of Alabama, University of Alabama in Huntsville, and Tuskegee University.

“We believe that growing a diverse and robust pipeline is key to addressing critical workforce needs in the aerospace, manufacturing, and technology industries and beyond,” said Crystal Morgan, Boeing’s Director of Government Relations.

Distinguished guests included Congressman Dale Strong; State representatives Parker Moore and Terry Collins; former State Majority Leader, Clay Sofield; Mayor Tommy Battle and Mayor Finley; Shan McMillian from the office of Senator Kate Britt; Madison County Commission Chairman Mac McCutcheon; Colonel Andrew Lunoff, Product Manager for the US Army Short and Intermediate Effectors for Layer Defense; and Lieutenant Colonel Steven Moebes, Product Manager for Lower Tier Interceptors.

For more information, please visit www.boeing.com. w

Huntsville Representatives Celebrate Newest T2S Solutions Operations Expansion Various Huntsville representatives were present last month at yet another Huntsville ribbon cutting.

T2S Solutions, a veteran-owned small business based in Belcamp, Maryland, expanded its operations in the area

with the company’s new 4,000 SquareFoot Tactical Space Layer Integration Lab in Cummings Research Park.

“The cutting of this ribbon symbolizes T2S’ continued commitment and determination to our community, employees, and the warfighter,” T2S Partner Tim Gay stated.

Founded in 2010, T2S Solutions is an innovative, agile, mission-focused product and solution provider specializing in Rapid Prototyping and Experimentation, Systems Development, Integration, Test and Sustainment. Its customers include the Department of Defense, Mission Partners and the Intelligence Community, Industry Partners, and other Government Agencies.

Huntsville Mayor Tommy Battle, Madison County Commission Chairman Mac McCutcheon, City Councilman John Meridith, Dylan Smith from Congressman Dale Strong’s Office, and Cummings Research Park Executive Director Erin Koshut joined Gay and T2S Partner Timothy Jahnigen, T2S Partner Robert Reichelmann, T2S Partner & COO Charles Sanford in cutting the ceremony.

“We’re delighted to see T2S-Solutions deepen its investment in Huntsville.

The company’s significant role in defense and cybersecurity intelligence, and its decision to expand into CRP, signifies its confidence in Huntsville’s workforce and recognizes the region’s leadership role in protecting our country and our allies,” Mayor Battle remarked.

The company’s newest location, located on Gilmer Drive in Cummings Research Park, adds 8,000 square-feet of office and 44,000 square-feet of environmentally controlled space for T2S’ Tactical Space Layer Integration Lab. “We are thankful to have a company like T2S-Solutions in our community.

Their support of our Nation’s warfighter keeps national security a top priority.

T2S Solutions plays a vital role in the economic growth in Madison County and north Alabama. Thank you for your partnership,” said Madison County Commission Chairman Mac McCutcheon.

For more information, please visit www.t2s-solutions.com. w

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Warren Averett Technology Group Named Among Top Managed Security Service Providers Warren Averett Technology Group has been named to MSSP Alert’s 2023 Top 250 Managed Security Service Providers (MSSPs) list. This is the fourth time that Warren Averett Technology Group has received this recognition.

MSSP Alert is the global voice for MSSPs. It provides exclusive content that empowers MSSPs and other providers to build or partner their way to managed security success.

The list and research identify and honor the top 250 global MSSPs. The rankings are based on MSSP Alert’s seventh annual worldwide survey along with the site’s global editorial coverage on MSSPs. Factors that determine the list include annual recurring revenue, profitability, business growth rate, managed security services offered and more.

The team at Warren Averett Technology Group offers a wide range of IT services including cybersecurity, IT remediation services, business software and managed services.

“It is an honor to have been nationally recognized as a top MSSP,” said Emily Jones, PMP, CMMC-RP, the Practice Leader for Warren Averett Technology Group. “We strive to provide our clients with the best managed services, so that they can focus on running their businesses and organizations. Making this list is a testament to the success of that, and I am extremely proud of my team and their accomplishments.”

For more information, please visit warrenaverett.com/warren-averett-technology-group. w

announced the plans for a state-ofthe-art operations center that aimed at consolidating the company’s operations staff under one roof. At this time, Bank Independent’s ops teams are spread between five buildings throughout the Shoals area.

This past month, the company took a major step in alleviating this challenge when company leaders and officials broke ground on a brand new, 95,000-square foot operations center in the Shoals.

“We will have about 300 people in this building eventually. We’re consolidating about five offices into one location. It’s going to be an exciting time. We think it will provide us an opportunity for us to grow efficiently and effectively and be able to provide the service to our customers throughout north Alabama,” said Bank Independent President Mac Mauldin.

The building, which is slated for completion in Spring of 2025, costs around $60M and will be four stories tall. Views from the completed operations center will include a large meadow in the east and a serene forest in the west. The new building will sit on 50 acres of former TVA land.

Upon completion, the new operations center will come ready with a variety of amenities to enhance staff experience, including spacious offices, functional communal work spaces, training rooms for new employees, and a fitness center.

Calvin Durham with Lambert Ezell Durham Architecture, LLC of Florence has been the lead architect in association with KPS Group, Inc. Robins & Morton is the General Contractor for the project. w

Strong Announces $5 Million FAA Investment in North Alabama Airports Bank Independent Breaks Ground on New $60M Operations Center Back in 2020, Bank Independent

The Federal Aviation Administration (FAA) has awarded more than $5 million in grant funding to five airports in North Alabama, Congressman Dale W. Strong (AL-05) announced Wednesday.

The Fiscal Year (FY) 2024 grants

were administered through the Airport Infrastructure Grant (AIG) program and funded by the Infrastructure Investment and Jobs Act (IIJA).

In announcing the grant awards, Congressman Strong stated the following: “The FAA’s investment in North Alabama’s airport infrastructure will support economic development efforts across our region,” said Congressman Strong. “This funding will further ensure the Tennessee Valley has reliable means of air travel and our industry can efficiently move goods to market.

As your member of Congress, I am always proud to see our hard-earned tax dollars returned back home.”

AIG program awards, totaling $5,050,568 to North Alabama airports, as follows: • Huntsville International Airport – Carl T. Jones Field: $4,174,568 • Pryor Field Regional Airport (Decatur): $294,000 • Huntsville Executive Airport – Tom Sharp Jr. Field: $294,000 • Hartselle-Morgan County Regional Airport: $144,000

• Scottsboro Municipal Airport – Word Field: $144,000 “We are so appreciative of Congressman Dale Strong for securing these funds for Huntsville International Airport and for his support of the economic development in our community that this grant will fuel.

These dollars will go toward enhancement of our terminal operations and greatly improve the customer experience of our passengers,” said Butch Roberts, Huntsville International Airport Chief Executive Officer.

Huntsville International Airport was recently recognized as the #2 Best Small Airport in the U.S. Huntsville is the fastest-growing metro area in Alabama and is the state’s largest city.

The Federal Aviation Administration (FAA), under DOT, oversees the AIG grant distribution program which is funded by the Infrastructure Investment and Jobs Act of 2021. w

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