On Monday, Gov. Kay Ivey announced the release of the 2024 New & Expanding Industry Announcements Report, which boasts $7 billion in new capital investments across 224 projects and generates more than 8,500 jobs.
"Alabama's economy is on the move, and this report proves it," Ivey said. "With more than $7 billion in new investments and thousands of jobs created, we are building a future filled with opportunity. Companies around the world see Alabama as the place to invest, grow and succeed — and we're just getting started."
Commerce Secretary Ellen McNair said targeted strategies and economic growth plans from the state are fueling the state's economic momentum.
"These programs are not only bringing investment and jobs but also strengthening our communities and positioning Alabama as a leader in global industry," McNair said.
The 2024 report highlights expansion across multiple sectors, such as manufacturing, aerospace, technology and logistics.
Last year's high-impact projects include $1.6 billion from Novelis in Baldwin County, a planned $800 million data center by Meta Platforms in Montgomery and a $330 million Coca-Cola investment for a new headquarters in Birmingham.
Ivey also drew attention to the state's rural economic growth. The report shows that Alabama's rural counties attracted $1.2 billion in investments in 2024, creating nearly 1,700 new jobs. Namely, last year, Republic Airways' LIFT Academy established a flight training center in Macon County. LIFT is creating 35 jobs and bringing 57 flight instructors to train the next generation of aviators in Tuskegee.
"We are making sure economic prosperity reaches every corner of our state," Ivey continued. "From advanced manufacturing to aviation training and auto parts production, rural Alabama is on the rise. These investment projects are transforming communities and creating lasting opportunities."
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