Birmingham has long been a center of southern industry and was a major city for steel production through the 1960s. Today, Birmingham has a more diversified economy that includes vibrant banking, healthcare, insurance, communications and construction sectors. Birmingham's business licensing is quite involved as the city has specific fees and cost formulas for each kind of business. Additionally, entrepreneurs may need Jefferson county licenses and permits and Alabama regulatory licenses to operate. Even simple businesses may find they need more than three business licenses and permits.