Alabama exports accelerate to $20.6 billion in 2016, breaking record
Alabama exports rose to a record level in 2016, topping $20 billion for the first time on gains from overseas shipments of Alabama-made products such as transportation equipment, chemicals and paper products. Figures from the U.S. Commerce Department show that Alabama exports totaled $20.55 billion last year, an increase of 6.4 percent from 2015’s results.…
Mercedes held keys to start Alabama auto industry boom
TUSCALOOSA, Alabama – In the 20 years since Mercedes-Benz began producing the M-Class SUV in Tuscaloosa County, Alabama’s auto industry has roared to life in communities across the state. Vehicle production has steadily risen to make Alabama one of the Top 5 auto-producing states in the U.S. Last year, for the second year in a…
Lenzing Alabama expansion: $293M investment, 163 jobs
MOBILE, Alabama – Austria-based Lenzing AG announced plans today to invest $293 million to expand production at its Alabama fibers plant, creating 163 new and permanent positions over three years. The Mobile County factory was the first commercial operation in the world to produce and market Lyocell, an eco-friendly, botanic fiber used in clothing and…
BASF to expand capacity at Alabama plant
MCINTOSH, Alabama – German chemical manufacturer BASF plans to spend more than $200 million to boost its worldwide plastic additives business, with a portion of the investment slated for the company’s plant in southwestern Alabama. At the Washington County facility in McIntosh, BASF will expand production capacity in a move that is expected to strengthen…
MöllerTech project shows momentum for rural development (video)
WOODSTOCK, Alabama – Global auto supplier MöllerTech on Tuesday officially launched work on a $46.3 million manufacturing facility near this tiny Bibb County community, a project that will create more than 220 jobs and spur growth in this rural region. MöllerTech’s selection of the Bibb County site also shows that Alabama’s rural areas are now…
Alabama earns Top 10 spot in State Business Climate rankings
MONTGOMERY, Alabama — Site Selection, an economic development-focused publication, ranked Alabama in the Top 10 in its annual State Business Climate survey, based largely on feedback from corporate real estate executives and project activity. Alabama placed No. 9 in the magazine’s overall 2016 State Business Climate rankings, and No. 8 in the survey of corporate site…
MöllerTech plans $46M Alabama auto parts plant with 222 jobs
CENTREVILLE, Alabama — German automotive supplier MöllerTech announced today that it will invest $46.3 million to build a state-of-the-art manufacturing facility in Bibb County, creating 222 jobs in Alabama’s growing auto sector. “Attracting investment and new jobs to Alabama’s rural counties is a key priority in our overall economic development strategy, and MöllerTech’s manufacturing facility in…
Japanese investment in Alabama fuels many industries
When it comes to Japanese investment in Alabama, auto manufacturers Honda and Toyota and their broad network of suppliers across the state immediately come to mind. But the Asian nation is behind a significant number of non-automotive companies here as well, from chemical and steel producers to pharmaceutical and life insurance firms. In all, there…
Alabama leaders seek to strengthen bonds at SEUS Japan 39
Commerce Secretary Greg Canfield will join Alabama business leaders in a delegation representing the state in Japan next week at a high-level forum that aims to strengthen cultural and economic ties. More than 30 Alabama government officials, economic development professionals and others who work in finance, manufacturing, medical technology and tourism will attend the 39th…
Site selection publication awards high marks to Alabama, Huntsville
Business Facilities magazine rated Alabama among the top states for workforce training programs, auto manufacturing strength, and foreign direct investment in its 2016 rankings. In addition, the economic development-focused publication rated Huntsville No. 1 among U.S. cities for STEM job growth, and No. 3 for economic growth potential. The Rocket City was No. 5 for…
