Alabama generated close to $5 billion in new capital investment and almost 10,000 job commitments in 2020, a year dominated by COVID-19 and its fallout.
“While 2020 was far from being a normal year, Alabama’s economic development efforts made a steady and important contribution to the state’s growth prospects,” Gov. Kay Ivey said today. “Companies from around the world continue to find all the ingredients they need for success right here in Alabama.”
The state’s 2020 New & Expanding Industry Report, compiled by the Alabama Department of Commerce and released today, said 230 economic development projects were completed in 2020, resulting in $4.8 billion in investment and 9,466 new jobs.
“Working diligently to overcome obstacles, Alabama’s economic development team managed to bring home solid results last year that will help advance the state’s economic revival,” said Greg Canfield, secretary of the Alabama Department of Commerce. “Looking ahead, the economic development pipeline for 2021 continues to flow with high-caliber projects that are poised to bring new opportunities to Alabama.”
The 2020 report cited a number of significant projects throughout the state, including:
- AM/NS Calvert’s $775 million electric arc steelmaking facility near Mobile
- Warrior Met Coal’s $529 million underground mine in Tuscaloosa County
- Distribution facilities for ALDI, Amazon, Dollar General, Lowe’s Home Improvement and FedEx throughout the state
- Mazda Toyota Manufacturing’s additional $830 million investment in its Huntsville assembly plant
- Mercedes-Benz’s $54 million logistics center in Tuscaloosa County
In addition, the report said 13 countries announced $2.7 billion in Alabama and that Limestone County led 2020 with more than $1.1 billion in new capital investment, followed by Mobile, Tuscaloosa, Jefferson and Lee counties.