“These high rankings indicate that Alabama offers the advantages that companies are searching for when they are making decisions about opening new facilities or expanding existing operations,” said Greg Canfield, secretary of the Alabama Department of Commerce.

“Alabama has the skilled workers, effective training programs, and the low-cost business environment that companies from around the world need to compete and succeed,” he added.

Between 2011 and 2016, economic development activity brought $28.5 billion in new capital investment to Alabama, along with 107,000 new and future jobs, according to Commerce data. Last year alone, new capital investment in Alabama totaled $4.2 billion, with 14,700 anticipated jobs.

COMPREHENSIVE APPROACH

Area Development said the top six states in this year’s rankings did not change from the previous year — and all of them are located in the South. At No. 6, Alabama ranked ahead of Indiana, North Carolina, Mississippi and Ohio, which rounded out the Top 10 in the survey. Georgia ranked No. 1.

Area Development said the top-ranked states share a common characteristic.

“They commit to adding value as an economic development leader and problem-solver, even during lean economic times,” the magazine says. “Any manufacturer will tell you that a big indicator of quality — and sound management — is consistent, repeatable results. This is also true for state government …”

Canfield said Alabama’s individual category rankings reflect the state’s comprehensive approach to economic development:

• Leading workforce development programs: No. 3
• Most improved economic development policies: No. 3
• Shovel-Ready Sites program: No. 3
• Speed of Permitting: No. 5
• Favorable Regulatory Environment: No. 6
• Favorable utility rates: No. 7
• Cooperative and responsive state government: No. 7
• Overall Cost of doing business: No. 7
• Competitive Labor environment: No. 8
• Business incentive program: No. 10

In its analysis, Area Development singled out Alabama’s AdvantageSite program, which has brought in more than 20 projects and $1 billion in investment since its inception in 2008, and the Alabama Department of Environmental Management for its quick work on permitting.

The magazine also highlighted the accomplishments of AIDT, the state’s primary workforce development agency and part of the Alabama Department of Commerce.

Read Area Development’s ranking story.

Earlier this year, Alabama earned a Silver Shovel Award from Area Development for its economic development successes in 2016.