2021 growth projects bringing Alabama $7.7 billion in new investment
Wanted in Alabama
Montgomery, Alabama - Gov. Kay Ivey announced today that economic development activity across Alabama will increase in 2021, and a new report shows that projects launched during the year will result in $ 7.7 billion in investment and nearly 10,200 jobs. . .
The project’s activities are described in a report on new and expanding industries for 2021 , a comprehensive analysis of the state’s economic development indicators, published annually by the Alabama Department of Commerce.
Commerce said $ 7.74 billion in new capital investment stemming from last year’s project announcements became the second-largest annual total in the state’s history after just $ 8.7 billion recorded in 2018 year. The investment figure for 2020 is $ 4.8 billion.
“Over the past year, Alabama’s economic development team has worked with companies around the world to lay the groundwork for significant growth in key strategic industries,” Governor Ivey said.
"These projects are already creating well-paid jobs, providing an economic spark for families and communities across Alabama."
"GOOD LUCK PROJECTS"
A report released today by Commerce indicates that in 2021, significant project activities will take place in key sectors of the economy, providing broad operating profits through the creation of 10,190 new jobs. Job creation in key areas includes:
- Distribution / logistics: 2384 jobs
- Engine: 1426 posts
- Metal: 1100 groove
- Information Technology: 1,011 jobs
- Agriculture / Nutrition Agriculture: 919 jobs
Greg Canfield, secretary of the Alabama Department of Commerce, said the state’s economic development team completed 247 projects in various industries last year.
"I believe that 2021 has been an important year for Alabama's strategic economic development, as we have implemented high-impact projects that will create significant jobs and pave the way for long-term economic growth," said Secretary Canfield.
"Looking ahead, this strong set of projects makes me confident that our team can develop this momentum throughout 2022 and beyond."
Notable successes in 2021 included hiring Landing , a technology-focused firm that creates flexible housing models, which moved its headquarters from San Francisco to Birmingham, where it created more than 800 jobs.
Another is JM Smucker Co. a decision to invest $ 1.1 billion in the opening of a new manufacturing / distribution center in McCall, which will create 750 direct jobs in Jefferson County.
Other high-performance companies, including Facebook, Amazon and FedEx , have also announced plans for Alabama in 2021.
SURFACE ACTIVITY
Meanwhile, activity in rural Alabama in 2021 will be strong, with projects involving nearly $ 1.7 billion in new investment and 1,638 jobs in certain “target” provinces with less than 50,000 residents.
According to trade data, in the last two years, the rural province of Alabama has attracted $ 2.3 billion in new investment and created more than 3,600 jobs.
By 2021, the provinces of Franklin, Chambers and Clay will list all the projects that will create more than 170 jobs, making them the best rural province in the state.
Meanwhile, Alabama remains a magnet for foreign direct investment in 2021: 44 FDI projects worth $ 1.1 billion are expected to create more than 1,700 jobs, the report said.
South Korea is a major foreign investor in Alabama, last year the company announced projects involving $ 325.5 million in new investment and 865 jobs. Lee County is the main beneficiary, with five Korean companies launching a $ 216 million expansion project that will create 370 jobs.
Jefferson County was the leader in job creation last year, expecting 2,303 jobs from new projects. Other leaders were Limestone, Montgomery, Lee and Madison.
Madison County led the way with new investments totaling $ 2.4 billion, the report said. Jefferson, Kusa, Lee and Clark close the top 5 counties for new investment.
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