Mobile and Alabama business bullish on local economy.

As those who live in the area, watch CNBC or read business journals already know, Mobile is on the fast track.

The newest data from 2007 Compass Bank Alabama Business Leaders Confidence Index® (BLCI) backs that up with statistics:

Executive Summary--Third Quarter 2007 Alabama Business Leaders Confidence Index®
Results from the third quarter 2007 Compass Bank Alabama Business Leaders Confidence Index® (BLCI) indicate Alabama business leaders are feeling more optimistic about the business environment. The overall BLCI reading registered 56.8, the highest reading of the last four quarters.

Improved outlooks for the national and state economies are largely responsible for the gain. Alabama business leaders remain much more upbeat about prospects for the state’s economy; the gap between the U.S. and Alabama outlooks is a substantial 12.3 points.

The positive direction of the state’s economy is expected to be the strongest contributor to growth during the quarter. Alabama is continuing to attract large-scale development projects, as well as other new industries and expansions, and is beginning to see BRAC-related relocations. Although sales remains the highest industry indicator, panelists anticipate some slowing in sales growth as consumers turn more cautious. Profits are also expected to weaken, with rising wages and continued high energy and material costs affecting gains. Hiring should pick up slightly, while capital spending will be boosted by nonresidential construction and by productivity-enhancing investments.

The Alabama BLCI is a collaborative project between Compass Bank and the Center for Business and Economic Research. The index represents the combined expectations of executives from a variety of businesses across the state—those who are closest to the pulse of the local economy and beyond. For additional details, please visit http://www.blci.com/alabama/.

This is the 23rd consecutive quarter that Compass and the Center for Business and Economic Research at The University of Alabama have conducted the survey of Alabama business leaders. Panelists represent a wide range of small, midsize, and large companies. Participants are from all major industry groups across Alabama’s 11 metropolitan areas and many nonmetro counties.

Our unemployment is down but we still have a sufficient depth of willing employes to staff the new industries, high tech and service industries who are discovering Mobile.