Editing Birmingham, Alabama (section)

==Economy==
{{Further|topic=the corporate office complex|Liberty National Life Complex}}

===Steel===
From Birmingham's early days onward, the steel industry has always played a crucial role in the local economy. Though the steel industry no longer has the same prominence it once held in Birmingham, steel production and processing continue to play a key role in the economy. Steel products manufacturers [[American Cast Iron Pipe Company]] (ACIPCO) and [[McWane]] are based in the city. Several of the nation's largest steelmakers, including [[Commercial Metals Company|CMC Steel]], [[U.S. Steel]], and [[Nucor]], also have a major presence in Birmingham. In recent years, local steel companies have announced about $100&nbsp;million worth of investment in expansions and new plants in and around the city. [[Vulcan Materials Company]], a major provider of crushed stone, sand, and gravel used in construction, is based in Birmingham.

===Biotechnology===
In the 1970s and 1980s, Birmingham's economy was transformed by investments in bio-technology and medical research at the [[University of Alabama at Birmingham]] (UAB) and its adjacent hospital. The [[UAB Hospital]] is a [[Level I trauma center]] providing health care and breakthrough medical research. UAB is now the area's largest employer and the second largest in Alabama with a workforce of about 18,750 as of 2011.<ref>Aneesa McMillan. "[http://www.bizjournals.com/birmingham/blog/2011/04/top-of-the-list-alabamas-largest.html Top of the List: Alabama's largest employers]" (April 22, 2011). ''Birmingham Business Journal''.</ref> Health care services providers [[HealthSouth]], [[Surgical Care Affiliates]] and [[Diagnostic Health Corporation]] are headquartered in the city. [[Caremark Rx]] was also founded in the city.

===Banking===
Birmingham is a leading banking center and the headquarters of [[Regions Financial Corporation]]. Banks with over a 5% market share of deposits in Birmingham are [[Regions Financial Corporation]], [[PNC Financial Services]], Servisfirst Bank, and [[Wells Fargo]].<ref>{{cite web |url=https://www7.fdic.gov/sod/sodMarketRpt.asp?barItem=&sCounty=all |title=Deposit Market Share Report |publisher=[[Federal Deposit Insurance Corporation]]}}</ref>

Nearly a dozen smaller banks have been headquartered in the Magic City, such as [[Superior Bancorp]] and [[Cadence Bank]]. As of 2009, the finance & banking sector in Birmingham employed 1,870 financial managers, 1,530 loan officers, 680 securities commodities and financial services sales agents, 380 financial analysts, 310 financial examiners, 220 credit analysts, and 130 loan counselors.<ref>{{cite web |url=http://www.collegedegreereport.com/cities/birmingham-hoover |title=Birmingham, Hoover Career, Salary & Employment Info |website=collegedegreereport.com |access-date= |archive-date=April 25, 2010 |archive-url=https://web.archive.org/web/20100425064343/http://www.collegedegreereport.com/cities/birmingham-hoover |url-status=dead}}</ref>

In 2012, Birmingham was the 9th largest banking hub in the [[United States]] by the amount of locally headquartered deposits.<ref>{{cite web |url=https://www.bizjournals.com/birmingham/print-edition/2012/02/24/birmingham-still-top-10-in-banking.html |title=Birmingham still among top 10 banking hubs |first=Antrenise |last=Cole |work=[[American City Business Journals]] |date=February 24, 2012 | url-access=subscription}}</ref> In 2014, Birmingham was the 10th largest banking center.<ref>{{cite news |url=https://www.bizjournals.com/birmingham/blog/2014/07/after-decade-of-change-where-does-birmingham-rank.html |title=Growth of Regions, BBVA Compass and others keep Birmingham among top banking hubs |first=Antrenise |last=Cole |work=[[American City Business Journals]] |date=July 28, 2014}}</ref>

===Construction and engineering===
Birmingham is a powerhouse of construction and engineering companies, including [[BE&K]], [[Brasfield & Gorrie]], [[Robins & Morton]], and [[B.L. Harbert International]] which routinely are included in the [[Engineering News-Record]] lists of top design and international construction firms.<ref>[http://enr.construction.com/people/toplists/topdesignfirm/topdesign_A-Z.asp McGraw-Hill Construction] Engineering News-Record; 2008 Top Design Firms</ref><ref>[http://enr.construction.com/people/topLists/topIntlCont/topIntlCont_A-Z.asp McGraw-Hill Construction] Engineering News-Record; 2007 Top International Contractors</ref>

===Beverages===
Two of the largest soft-drink bottlers in the United States, each with more than $500 million in sales per year, are located in Birmingham. The [[Buffalo Rock Company]], founded in 1901, was formerly a maker of just [[ginger ale]], but now it is a major bottler for the [[Pepsi Cola Company]]. [[Coca-Cola Bottling Company United]], founded in 1902, is the third-largest bottler of Coca-Cola products in the U.S.

===Other large companies===
[[File:AT&T building, Birmingham, AL.jpg|thumb|left|upright|[[AT&T City Center]] in downtown]]
[[AT&T]] has a major nexus in Birmingham, supported by a skyscraper downtown as well as several large operational center buildings and a data center.

[[Blue Cross and Blue Shield of Alabama]], [[Protective Life]], [[ProAssurance]], and [[Liberty National]] are headquartered in Birmingham.

Birmingham has seen a noticeable decrease in the number of [[Fortune 500]] companies headquartered in the city, due to mergers, moves, and buy-outs. In 2000, there were ten Fortune 500 companies headquartered in the city, while in 2014 there was only one, [[Regions Bank]]. Birmingham used to be home to more than thirty publicly traded companies, but in 2011 there were only fifteen.<ref>{{cite news |url=https://www.bizjournals.com/birmingham/print-edition/2011/12/16/a-troubling-trend-for-birmingham.html |title=A troubling trend for Birmingham |work=[[American City Business Journals]] |date=December 16, 2011}}</ref> This number has increased since, but not significantly. Some companies such as [[Zoe's Kitchen]] were founded and operated in Birmingham, but have since moved their headquarters.<ref>{{cite web |url=https://www.bizjournals.com/birmingham/news/2014/03/18/why-zo-s-kitchen-moved-its-hq-from-birmingham.html |title=Why Zoës Kitchen moved its HQ from Birmingham |work=[[American City Business Journals]] |date=March 18, 2014}}</ref><ref>{{cite news |url=https://www.bizjournals.com/dallas/print-edition/2011/09/09/commercial-real-estate-zoes-set-to.html |title=Zoës Kitchen set to add up to 5 spots |first=Steven R. |last=Thompson |work=[[American City Business Journals]] |date=September 9, 2011}}</ref> Birmingham has rebounded with the growth of companies like [[Encompass Health Corporation]] (formerly Healthsouth), [[Alabama Power Company]], [[Hibbett Sports]], [[Autocar Company]], and [[Books-A-Million]]. Food companies such as [[Chester's]], [[Jack's]], [[Grapico]], [[Red Diamond]], [[Milo's Hamburgers]], and [[Yogurt Mountain]] are also based in Birmingham.

===Taxes and government===
Birmingham's sales tax, which also applies fully to groceries, is 10%, making it the highest tax rate of the nation's 100 largest cities.<ref>{{cite web |url=https://taxfoundation.org/sales-tax-rates-by-city-2021/ |title=Sales Tax Rates in Major U.S. Cities |date=August 18, 2021 |publisher=[[Tax Foundation]]}}</ref><ref>{{cite web |url=http://factfinder2.census.gov/faces/nav/jsf/pages/index.xhtml |title=American FactFinder |publisher=Factfinder2.census.gov |access-date=July 14, 2012}}</ref>

Although [[2011 Jefferson County Alabama Bankruptcy|Jefferson County's bankruptcy filing]] was the largest government bankruptcy in U.S. history in 2011, Birmingham remains solvent.<ref name=JeffBankrupt>{{cite news |last=Wright |first=Barnett |url=https://www.al.com/spotnews/2011/11/jefferson_county_files_for_lar.html |title=Jefferson County files for largest bankruptcy in U.S. history |work=[[The Birmingham News]] |date=November 10, 2011}}</ref>

===Largest companies===
In 2021, Birmingham's largest public companies by [[market capitalization]] were Regions Bank (RF, $14.61 billion), Vulcan Materials (VMC, $8.45 billion), Energen (EGN, $6.47 billion), Protective Life (PL, $5.47 billion), and HealthSouth (HLS, $3.15 billion).<ref>{{cite web |url=https://www.bizjournals.com/birmingham/subscriber-only/2021/07/02/public-companies.html |title=Ranking Alabama's largest public companies |publisher=[[American City Business Journals]]}}</ref> All were listed on the [[New York Stock Exchange]].

Energen sold one of its largest subsidiaries, [[Alagasco]], and Protective Life was bought by [[Dai-ichi Life]] and removed from stock exchanges. If [[Alabama Power]] were considered to be independent of the [[Southern Company]] (headquartered in [[Atlanta]]), it would be the largest company with more than $5.9 billion in revenue in 2014.<ref>{{cite web |url=http://www.alabamapower.com/about-us/pdf/APC%202014%20ANNUAL%20REPORT.pdf |title=2014 Annual Report |access-date=August 28, 2021 |archive-date=June 26, 2015 |archive-url=https://web.archive.org/web/20150626112130/http://www.alabamapower.com/about-us/pdf/APC%202014%20ANNUAL%20REPORT.pdf |url-status=dead}}</ref>

In 2021, Birmingham's largest private companies by annual revenue and employees were [[O'Neal Industries]] ($2.66 billion; 550 employees), [[EBSCO Industries]] ($2.5 billion; 1,220 employees), [[Drummond Company]] ($2.4 billion; 1,380 employees), [[Brasfield & Gorrie, LLC]] ($2.2 billion; 973 employees), and [[McWane]] ($1.7 billion, 620 employees).<ref>{{cite web |url=https://www.bizjournals.com/birmingham/subscriber-only/2021/06/25/birminghams-largest-privately-held.html |title=Birmingham's Largest Privately Held Companies |publisher=[[American City Business Journals]]}}</ref>