The Alabama Department of Commerce broadened this week its mission to showcase the economic opportunities available to foreign businesses in the Yellowhammer State.
Commerce and its Made in Alabama brand had its largest presence to date at the annual SelectUSA Investment Summit in National Harbor, Maryland, the highest-profile U.S. event for the promotion of foreign direct investments. The U.S. Department of Commerce event draws more than 100 countries and 5,500 attendees, including business investors, industry experts and economic development organizations.
Foreign direct investments in Alabama totaled $3.6 billion last year and more than $19 billion since 2020, according to Commerce data.
“Foreign investments in Alabama grow each year as more companies around the world realize the valuable assets the state offers, including move-in ready spaces, a skilled and reliable workforce and state and local partners ready to help them succeed,” Secretary of Commerce Ellen McNair said. “The Department of Commerce continues to seek new investments in the state that will result in continued growth for the state and high-quality employment opportunities for Alabamians. SelectUSA is a premier place to do that.”
During this year’s Summit, Commerce and its workforce-training arm, AIDT, collaborated with EDGE Partners to engage directly with international companies actively evaluating U.S. expansion opportunities. Connecticut-based EDGE Partners specializes in FDIs and international market expansion.
“Through EDGE Partners, Alabama received curated, senior-led investor meetings aligned with the state’s target industries, investment priorities and long-term economic development goals,” said Christina Stimpson, Commerce’s Chief Officer of Global Business.
The state’s business recruiters touted Alabama’s deepwater port, seven research universities and extensive workforce training programs, among other key assets for potential industry, at the multi-day conference.
Meanwhile, the state’s recruitment efforts are targeted at priority industry sectors, including automotive and aerospace, defense, technology, and bioscience, as well as advanced and chemical manufacturing.
The Summit gave Commerce leaders opportunities to connect in person with representatives and decision-makers from companies interested in U.S. expansion, as well as executives from companies that already have a presence in Alabama.
Commerce’s managing directors for Korea and Europe also attended the Summit, representing Alabama in meetings with prospective investors and participating in country-specific events throughout the week.
A reception early in the week allowed the state to connect with dozens of attendees from Austria, Germany and Slovenia. It was attended by Art Fisher, the U.S. ambassador to Austria, and Petra Schneebauer, Austria’s ambassador to the U.S.
Delegations from several countries also visited the Made in Alabama booth, including those from the Netherlands, Belgium, Italy and Czechia.
The counties with the most FDI in Alabama since 1999 are Germany ($11 billion), Japan ($10.4 billion), and South Korea ($10 billion), according to Commerce.
