News
Analysis: Alabama bioscience industry’s impact tops $7.3 billion a year
Alabama’s multifaceted biosciences industry generates $7.3 billion in economic activity annually while supporting 780 companies and nearly 48,000 direct and indirect jobs across the state, according to a new analysis by researchers at the University of Alabama. The comprehensive study underscores the contributions and growth potential of the statewide life sciences sector, a robust combination…
2 Alabama projects claim magazine’s top 2017 investment awards
MONTGOMERY, Alabama — Trade & Industry Development, a national trade publication, selected two 2017 Alabama economic development projects for its elite investment awards, reflecting the powerful impact these collaborative recruitment efforts will have on their communities and the state. The magazine’s editors evaluated several hundred announcements from across the U.S. before selecting the 30 winners…
WestRock plant in Lanett primed for growth with expansion
LANETT, Alabama — The Chambers County Development Authority announced that WestRock Co. plans an investment in its manufacturing operation in Lanett that will increase the facility’s competitiveness and position the area for job growth. Atlanta-based WestRock, a provider of differentiated paper and packaging solutions, will expand its Chambers County operation to accommodate an increase in…
Auto supplier SMP expands U.S. footprint at new Tuscaloosa plant
TUSCALOOSA, Alabama – Samvardhana Motherson Peguform (SMP) today marked the official opening of a 700,000-square-foot Alabama auto parts plant with optimism that hiring could surpass initial projections. Though SMP inaugurated the Tuscaloosa plant this afternoon, the facility already has a workforce of 320 people, months before actual production begins. The company said today that the…
Report: 2017 projects generate nearly 15,500 new jobs across Alabama
MONTGOMERY, Alabama – Companies planning new facilities or expanding existing operations in Alabama announced nearly 15,500 new jobs and more than $4.4 billion in capital investment during 2017, according to a comprehensive report detailing economic development activity in the state last year. The 2017 New & Expanding Industry Report, released today by Governor Kay Ivey…
Alabama team returns home after productive talks in Japan
TOKYO, Japan – Governor Kay Ivey said today that meetings with high-level executives from Mazda, Toyota and Honda in Japan helped to fortify the state’s relationships with the global automakers and will facilitate their growth plans in Alabama. Governor Ivey, Commerce Secretary Greg Canfield and a team of Alabama economic development specialists are returning home…
2017 Scorecard: Birmingham projects mean 3,000-plus new jobs
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…
Governor Ivey leads Alabama team in talks with Japanese automakers
MONTGOMERY, Alabama — Governor Kay Ivey is leading a small team of Alabama economic development specialists on a business development mission to Japan for high-level meetings with leaders of global automakers Toyota, Mazda and Honda. The Alabama delegation is departing for Japan today and will return on Thursday following appointments in Tokyo. The mission’s strategic…
Autocar opens $120 million heavy-duty truck factory in Alabama
BIRMINGHAM, Alabama — Indiana-based Autocar today marked the official opening of a $120 million heavy-duty work truck assembly plant in Birmingham that adds a new dimension to Alabama’s growing vehicle manufacturing industry. Governor Kay Ivey joined top Autocar executives and local leaders at a ribbon-cutting ceremony this morning at the company’s operation, located in a…
Port of Mobile taps partners to develop $60M auto export facility
BUENOS AIRES, Argentina — The Port of Mobile is poised to become a major hub of auto export activity, with a new facility that will allow vehicles to be driven directly onto cargo ships bound for markets around the world. On Tuesday, representatives of the Alabama State Port Authority and AutoMobile International Terminal, a joint…