In a tremendous boost of confidence for Alabama’s economy, Governor Kay Ivey announced the state’s stellar performance in 2024 with the addition of $7 billion of new capital investment on 224 projects. The projects are poised to provide more than 8,500 career opportunities for Alabamians, further establishing the state as a top location for business development and innovation.
Key Investments Driving Growth
Several high-impact projects have been instrumental in this economic boom:
Novelis Expansion in Baldwin County: Novelis is committing another $1.6 billion in its integrated aluminum mill, which will total more than $4 billion. This growth highlights Alabama’s increasing presence in the manufacturing industry.
Meta Platforms Montgomery Data Center: Meta Platforms announced plans for an $800 million data center in Montgomery, which will create 100 operational jobs. The development follows previous investments of more than $1 billion from the company in Alabama, illustrating the state’s attractiveness to tech giants.
Coca-Cola Bottling UNITED Birmingham Headquarters: Coca-Cola Bottling UNITED is investing $330 million in a new headquarters and production facility in Birmingham. This investment will add 50 new jobs while maintaining 750 existing jobs.
Commitment to Rural Development
The commitment of the state towards inclusive economic growth is reflected with rural counties hosting $1.2 billion worth of investments and generating close to 1,700 new jobs in 2024.
LIFT Academy at Moton Field, Macon County: Republic Airways’ LIFT Academy is launching a flight school training center on historic Moton Field in Tuskegee. The project will create 35 new jobs and relocate 57 flight instructors to train the future of aviation in tribute to the Tuskegee Airmen’s legacy.
Ellen McNair, Alabama Department of Commerce Secretary, credits this economic momentum to focused strategies and visionary initiatives. In 2024, Alabama introduced “Catalyst,” a strategic economic development plan to fuel innovation, attract talent, and create long-term prosperity. Supporting programs such as SEEDS and Growing Alabama have further enhanced the state’s aggressive approach to economic development.
Looking Ahead
Governor Ivey was hopeful to follow this trend, citing the Alabama Legislature’s working relationship and economic development partners throughout the state. The state remains committed to establishing an environment for businesses to succeed, innovate, and create new jobs.
As Alabama surfs this wave, the state’s commitment to economic development and community growth makes it a champion in investment attraction and opportunity creation for its citizens.
