Economic Overview and Outlook for the Montgomery Metropolitan Area June 2014 | Página 5

Economic Overview and Outlook
for the Montgomery Metropolitan Area

reserve, civilian, contractor personnel, students and families at
Maxwell and Gunter-Annex in direct support of Air University,
the 908th Airlift Wing, Air Force Material Command and Air
Force Space Command units, the Defense Information Systems
Agency and more than 40 other tenant units. The base has
a military economic impact of $2.6 billion annually. The Air
Force reserve unit at the Base, the 908th Airlift Wing, provides
550 full-time jobs.

hyundai.

Personal Income
Table-11 shows the per capita personal income in Montgomery
TABLE 11 PER CAPITA PERSONAL INCOME BY METRO AREA
Per capita personal income

Hyundai Motor Manufacturing Alabama (HMMA),
headquartered in Montgomery, Ala., is an independent
manufacturing operation of Hyundai Motor Company, based in
Seoul, South Korea. HMMA currently produces the 2014 Sonata
sedan, and 2014 Elantra sedan vehicle. HMMA can produce
399,500 vehicles annually. Hyundai cars and sport utility
vehicles are distributed throughout North America, Canada,
United States and Puerto Rico.

United States
Metropolitan portion
Non-Metro portion
Alabama
Birmingham-Hoover
Huntsville
Daphne-Fairhope-Foley
Montgomery
Dothan
Tuscaloosa
Florence-Muscle Shoals
Decatur
Anniston-Oxford-J’ville
Mobile
Gadsden
Auburn-Opelika

HMMA and their local suppliers generated a total impact of
$3.8 billion to the economy of the State of Alabama in 2010,
accounting for 2 percent of Alabama’s Real Gross Domestic
Product. HMMA was directly responsible for 74 percent, or
$2.8 billion, of this total economic impact, while their suppliers
generated $1 billion (26 percent) of the impact. In 2010,
HMMA and their suppliers were responsible for more than
34,000 full-time equivalent jobs statewide. Since that time,
HMMA has made an additional capital investment of more than

2010
40,163
41,603
31,981
33,905
38,705
39,593
36,464
36,259
33,951
33,218
31,322
31,514
31,768
31,332
31,280
28,734

Dollars
2011
42,298
43,743
34,018
34,929
40,289
40,974
38,115
37,044
34,727
34,012
32,233
32,185
32,401
32,580
31,851
29,653

2012
43,735
45,188
35,324
35,926
41,850
41,595
38,548
37,905
35,816
34,870
33,249
33,127
32,883
32,772
32,717
30,236

Rank
2012
---117
123
183
199
262
288
321
325
336
341
342
369

% change
2011 2012
5.3% 3.4%
5.1% 3.3%
6.4% 3.8%
3.0% 2.9%
4.1% 3.9%
3.5% 1.5%
4.5% 1.1%
2.2% 2.3%
2.3% 3.1%
2.4% 2.5%
2.9% 3.2%
2.1% 2.9%
2.0% 1.5%
4.0% 0.6%
1.8% 2.7%
3.2% 2.0%

and compares it with the income in the United States, the state
of Alabama and the other 11 metropolitan areas in the state.
The per capita personal income in Montgomery is higher than
that of the state, ranking it the 199th among all metro areas in
the U.S. An issue of concern is that the growth rate of per capita
personal income in Montgomery metro has been lower than
that of the state of Alabama in both 2011 and 2012.
Within the state of Alabama, Birmingham has the highest percapita personal income (117th among U.S.), and the income is
growing at a much faster rate than other metros in the state
of Alabama. Per capita personal income in the Huntsville and
Daphne-Fairhope-Foley areas also exceeds that of Montgomery.
The per-capita personal income in Alabama is slightly higher
than the per-capita personal income of the non-metro portion
of the entire United States; however, the growth rate of percapita income in Alabama is much slower than even the
non-metro portions of the U.S. This should be a cause of real
concern to our state.

$200 million.
Figure-4 shows the sales of light vehicles for Hyundai during
January-May for the last five years. The cumulative sales of
light vehicles for Hyundai during 2014 were tracking lower
than 2013 until April of this year. The company, however,
reported sales of 70,907 during May 2014, which was the best
monthly sales ever for Hyundai, and 2014 is now trending to
be the best year for the company. The company hopes that the
newly redesigned 2015 Sonata, which has started arriving in
showrooms, will provide a further boost to sales. Monthly sales
of Hyundai automobiles are tracked by the College of Business
Administration and can be viewed at http://coba.alasu.edu/

Median Household Income
Table-12 shows the median household income for all
metropolitan areas in Alabama for the last four years. The
median household income in Montgomery metro has shown an
increase in each of the last three years.

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Per-capita personal income in
Alabama is slightly higher than
the per-capita personal income
of the non-metro portion of the
U.S.