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…
Ernst & Young: Alabama ranks in Top 5 for investment
Global consulting firm Ernst & Young says companies from around the world poured more than $5 billion into capital projects in Alabama last year, earning the state a place near the top of its investment rankings. Ernst & Young’s closely watched “US Investment Monitor” ranked Alabama No.5 among the states for mobile capital investment last…
Kronospan creating 160 jobs in Alabama with $362M expansion
OXFORD, Alabama — Austria-based Kronospan, a leading manufacturer of wood-based panel products, said today that it plans to invest $362 million to expand its operations in Calhoun County, adding 160 jobs to its Alabama workforce. Kronospan said the expansion consists of four separate projects: Two laminate flooring and decorative paper impregnation lines A particleboard and…
Buckle Up: Alabama auto industry accelerates growth (Video)
Alabama’s auto industry is on a hot streak, with record production numbers, rising investment, expanded hiring, and redesigned models rolling off the assembly lines. Last year alone, the auto industry added around 6,500 jobs and $3 billion in new investment in the state, according to a preliminary analysis of data in the Alabama Department of…
World Stage: 2015 foreign investment reaches $3.4 billion
Foreign direct investment in Alabama topped $3.4 billion in 2015, as companies based in 18 different countries extended their reach into the state. The vast majority of the 95 FDI projects were expansions, including a major addition to the Mercedes-Benz plant in Tuscaloosa County. Other auto industry investments were growth at Hyundai’s Montgomery factory and…
Alabama trade team finds opportunities in Spain, Morocco
Spain and Morocco put out the welcome mat this week for Alabama business leaders, who visited the countries in an effort to strengthen trade ties. The 16-member state delegation is nearing the end of the trade mission, which kicked off in Spain with business-to-business meetings, networking opportunities and visits to several companies with a major…
