Opelika, AL, home to several Hyundai Motor Manufacturing Alabama (HMMA) suppliers, recently announced that HMMA member companies will receive special tax abatements and exemptions to boost investment and growth in the city’s manufacturing industry and the rest of Alabama. This development is being highlighted by Go Alabama Title Loans, a financial services provider that helps vehicle owners get back on their feet by leveraging their vehicle’s equity for cash.
During an Opelika City Council Meeting on May 3, 2022, Hanwha Advanced Materials America, Daewon American, and Cumberland Plastics received investments of $18 million, $2 million, and $1 million respectively. The investments will support the addition of the Hyundai Santa Fe Hybrid and electrified Genesis GV70 sport utility vehicles. The broader plan is to help Hyundai get the two clean mobility vehicles onto the assembly line at its automotive plant in Montgomery, Alabama. The milestone will mark the beginning of Hyundai’s electric vehicle production in the United States. It will create scores of local jobs as well as further the nation’s goals of moving towards cleaner transportation.
Opelika has a population of 30,200 people of which 14,800 work in a range of industries such as health care & social assistance, manufacturing, and educational services. 14.9% of the employed workforce works in the manufacturing sector, the city’s second largest industry. Mando America Corporation, a global automotive parts company that manufactures automotive brakes and steering wheels in Opelika, is the city’s biggest employer.
Other prominent manufacturing companies in Opelika include Briggs and Stratton, maker of air-cooled gasoline engines, Daewon America, maker of suspension bars, and springs, Hanwha Advanced Materials America, maker of bumpers, and headliners, Seohan Auto USA Corporation, maker of axles, and driveshafts, and many more.
In the last two decades, Opelika has seen tremendous growth as, since January 2005, the city has announced new industry investments and existing industry expansions totaling more than $1.2 billion in capital investment, along with the creation of 3,229 additional jobs. Moreover, the Auburn-Opelika MSA ranked number 7 on Forbes' 2015 list of America's Best Small Cities for Jobs. Opelika also has the distinction of being the first and only city in Alabama to deploy a 100% fiber network that offers up to a gigabyte of internet speeds, forming a robust ecosystem for the future growth of innovative high-tech companies.
"We welcome economic development in this area," said a representative from Go Alabama Title Loans. Readers in Opelika who want further information on the financial services offered by the company can head over to its website at https://goalabamatitleloans.com/locations/opelika-al-36801/.
Opelika residents who work in industries other than manufacturing, that have buckled under the pressure of rising inflation and high gas prices, may see their incomes dwindle while the cost of goods and transportation remains the same. For example, 15.6% of the population in Opelika lives below the poverty line. The median household income in the city ($48,459) is also much lower than the median annual income across the United States ($65,712). In such a case, if the city’s vulnerable residents get stuck having to deal with an unexpected time-sensitive expense such as medical bills, utility bills, or home improvement repairs, they can turn to the services offered by Go Alabama Title Loans.
Go Alabama Title Loans has a fast and simple approval process that is even considerate of applicants who have a low credit score. The company claims that provided the applicant submits all the accurate information, it can qualify them within 15 minutes and transfer the funds that they need in under 24 hours. Go Alabama Title Loans also promises 100% transparent services which means no upfront, hidden, or prepayment penalty fees. Applicants can avail of up to $50,000 in funding if they have enough equity in their vehicle.
Readers can find out more about Go Alabama Title Loans such as contact information and reviews from satisfied customers by heading over to its Google My Business page at the link: https://maps.google.com/maps?cid=14118351764900719524.
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For more information about Go Alabama Title Loans (844) 845-8063, contact the company here:
Go Alabama Title Loans (844) 845-8063
(844) 845-8063
info@goalabamatitleloans.com
Opelika, Alabama
