MONTGOMERY – Gov. Kay Ivey announced Thursday that economic development activity in Alabama generated $10.1 billion in new capital investment during 2022, a new annual record and another indicator of
Ivey said the 2022 Alabama Economic Development Impact Report, compiled by the Alabama Department of Commerce, shows that investment tied to economic development projects last year topped the previous record of $8.7 billion, set in 2018.
People are also reading… Many of the new jobs are being created in key industrial sectors, according to Commerce’s 2022 report. This includes over 2,800 new positions in the automotive industry, nearly 1,900 in the metals and advanced materials sector, and more than 1,500 in aerospace/aviation/defense.
Listen now and subscribe: Apple Podcasts | Google Podcasts | Spotify | RSS Feed | Omny Studio • Novelis announced plans for a $2.5 billion aluminum mill with 1,000 workers in Bay Minette, the first facility of its kind to be built in the U.S. in over 40 years. The First Solar and Advanced ATC projects are among those announced in 2022 that will bring nearly $1.8 billion in new investment, along with 1,900 jobs, to Alabama’s “targeted,” or rural, counties. Since 2020, rural Alabama has been selected for growth projects involving $4 billion in investment and 5,500 job commitments.
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