The City of Madison Industrial Development Board has had success in assisting several companies move into the area and grow and prosper. Their success stories are outlined below.
SEA Wire and Cable
SEA Wire and Cable, Inc., a supplier of wire, cables, and related products for electronics, was founded in 1970. The company, which supplies wire, cable, and related products for electronics, is a Madison-native company.
SEA Wire and Cable is currently located within an 80,000 square-foot facility. The company has nearly 5,000 global customers, including customers within the aerospace industry. The facility is stocked with more than 11,000 products.
The Madison IDB has provided assistance to SEA Wire and Cable for two projects that included the construction and expansion of their facility. The Madison IDB helped the company secure a $19,500 industrial bond in December 2007.
Halsey Foodservice was initially founded as a retail and wholesale grocery delivery business in 1879. The company, opened as C.H. & W.L. Halsey by Leroy Halsey and Charles Henry Halsey, was originally located in a warehouse facility in the City of Huntsville. The company's Cash & Carry location is still located in downtown Huntsville at 301 Jefferson Street, but the company moved its warehouse facilities to the City of Madison in 1972.
Since 1972, Halsey Foodservice has expanded both its facility and its service line. In 2001, the company opened its Fresh Meat and Fresh Produce divisions and later in 2007, added 30,000 square feet of freezer space to its facility in Madison.
The Madison IDB has helped Halsey Foodservice with three of their expansion projects, including the 2007 freezer expansion. The Madison IDB was able to help Halsey Foodservice acquire a $16,000 industrial bond for that project.
Industrial Properties of the South, founded by Dr. Jerry M. Graham and Charlene B. Graham, has been instrumental in the success of many area businesses throughout Madison County. The company operates more than 1.3 million square feet of industrial and office space within the county, including the Airport Office Center located in the City of Madison.
Dr. and Mrs. Graham began developing and leasing properties in the area in the late 1970s. They developed the Airport Office Center using an industrial bond that the Madison IDB was able to help them secure.
STI Electronics, a full-service electronics support company, was initially located in San Dimas, California, but was relocated to the City of Madison in 1993. By 1998 and 1999, STI Electronics had grown past its small beginnings and was listed among the "500 Fastest Growing Companies" by Inc. Magazine.
STI Electronics founder, Jim Raby, was able to build his company by providing services to contacts that he had made as a technology expert with the Army and Navy. With Redstone Arsenal located a few miles north of the City of Madison, the city was an ideal choice for the company.
STI Electronics has been recognized as a Small Business of the Year by the Huntsville/Madison Chamber of Commerce and a finalist for Alabama Manufacturer of the Year as awarded by Alabama Technology Network and Business Council of Alabama, among other accolades.
In December 2007, the Madison IDB was able to provide assistance to STI Electronics for the construction of a new manufacturing facility. The Madison IDB provided a $63,000 industrial revenue bond, as well as tax abatements.
Intergraph (originally M&S Computing) is perhaps one of Madison's better known success stories. Founded in the early 1970s, M&S Computing started as a small consulting firm that worked with the U.S. Army Missile Command, NASA, and their first commercial contract – the City of Nashville. The company has since grown into one of the foremost providers of engineering and geospatial software in the world.
In addition to Intergraph's own success, many other successful technology companies have ties back to Intergraph. The company has also helped attract highly-skilled workers to the City of Madison area.
The Madison IDB provided assistance to Intergraph in October 2012 when the company began construction to a new headquarters building that will be five stories and approximately 240,000 square feet. The Madison IDB provided abatements on sales and use taxes and 10 years of property taxes, which exclude those property taxes earmarked for education. The total estimated project cost will be $59 million dollars and the new facility is expected to be occupied by 990 current employees. The building is expected to be completed in 2014.
In addition to the new headquarters, the Madison IDB also helped Intergraph with the lease of the Schaefer Building and Building 20.
Anchorage, AK-based company Tyonek Manufacturing Group, Inc. chose Madison, AL as the location of a new subsidiary – Tyonek Manufacturing Group, Inc. (TMGI) and built its first facility in 2004. Since then, the defense manufacturer has expanded greatly, adding three more facilities (a total of 128,000 square feet in 2013).
The City of Madison was an ideal location for the company in part because of its close proximity to Redstone Arsenal. Another main feature that sold the company on locating in Madison was the city's school system. The company was also able to qualify for tax abatements, making it easier for them to make the original investment, as well as the expansion investments.
Madison IDB has assisted Tyonek during three projects, including the initial facility construction and subsequent expansions:
- June 2004 - $35,000
- June 2007 - $7,500
- December 2010 - $26,375