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Top News Links: Friday, June 7

Defense cuts threaten Alabama economy

The effect of sequestration-based defense spending cuts is likely to echo through most of the state's economy, financial experts say. — The Fiscal Times

Alabama economic growth rate lags

Although Alabama ranks 26th among states with  2012 economic output of $183.5 billion, its GDP growth rate was 1.2 percent, about half the U.S. average and ranking 39th among states. — al.com

Boeing moving more work to low-cost markets

Long a fixture in the Pacific Northwest, Boeing Co. is moving more of its commercial jet operations to other locations around the country, taking advantage of lower labor costs and more business-friendly governments. — Forbes

Jefferson County deal is wake-up call to muni bond investors

The deal to settle Jefferson County's bankruptcy includes a provision that bondholders will lose 20 percent of their investment, which could be a sign of trouble for other municipal bondholders. — New York Times

Arrests made in prison-based tax fraud scheme

Federal authorities have arrested six Alabamians in a federal tax fraud scheme masterminded from inside a Bessemer prison. — WVTM-TV

Vitamin plant celebrates opening today

State and local officials gathered in Opelika today to celebrate the opening of an $89 million, 245-employee Nature Made vitamin plant  in Northeast Opelika Industrial Park. — Pharmavite PR

Regions provides funding for community groups

Regions Financial has made awards totaling $126,000 to 17 community groups that offer services to people in need, including four Alabama groups focused on domestic violence, housing, AIDS and poverty. — Regions PR

Belk employees spiffing up Huntsville elementary school

Celebrating their employer's 125 anniversary, Belk workers are doing a makeover at Lakewood Elementary School in Huntsville, just two weeks after completing a similar project in Decatur. — al.com

Poarch Indians donate to local schools

The Poarch Band of Creek Indians has made donations totaling $200,000 to neighboring schools. — Poarch PR

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