BIRMINGHAM, Alabama – The Birmingham Business Alliance today reported that economic development activity in the seven-county Birmingham region generated more than 3,000 anticipated jobs and nearly $575 million in new capital investment in 2017.
The results were announced at the BBA’s annual Regional Economic Growth Summit this morning. The organization said 40 companies announced new facilities or expansions in the area last year.
“The Birmingham region’s growth in jobs and capital investment is an achievement we should all take immense pride in,” said Lee Smith, East Region CEO for BBVA Compass and 2018 chairman for the BBA.
“Successes like those in 2017 should and do drive us forward into 2018 with the desire to have an even more successful year, and I’m confident that is possible,” Smith said.
The exact totals for 2017 activity in the region are 3,068 anticipated jobs and $572.7 million in new investment, according to the BBA.
MOMENTUM
Highlights of the report include:
- The largest projects included Autocar, which is investing $120 million to build its heavy-duty trucks in Birmingham and create 746 jobs; and Mercedes-Benz U.S. International, which announced a $248 million Global Logistics Center and after-sales North American hub in Bibb County, bringing more than 500 jobs.
- The automotive industry accounted for 54 percent of the jobs and 72 percent of the investment last year.
- Technology companies saw unprecedented growth in 2017. Nine companies announced 429 jobs and $10.2 million in capital investment.
“The Birmingham metropolitan area’s employment base has grown by 37,200 net jobs since 2010 and the region is moving in the right direction,” said Brian Hilson, president and CEO of the BBA. “Working together with our leadership in the public and private sectors, along with our economic development allies, we have seen accelerated job and investment growth.
“However, we all agree that our economic growth capacity is much greater. Building off this momentum, we are seeing more companies and workers who are excited about being in Birmingham,” he added.
Details on the BBA report can be found here.
