Black Belt counties highlighted in economic growth report

An announcement from the state's industry website said that companies settling in or expanding their facilities will bring in investments of more than $6.4 billion, with two Black Belt counties contributing. 

“We continue to make significant progress in our mission to create solid career opportunities for Alabama citizens and to inject economic vitality into cities and communities across the state,” Governor Ivey said in the announcement. “I’m proud of the fact that since I have been governor, we have seen $49 billion invested in Alabama, which has created some 87,000 new jobs.

“However, we’re not taking a victory lap — we are focused on the future and making Alabama the top choice for growing companies,” she added.

A report by the Alabama Department of Commerce was recently compiled highlighting the business and economic growths recorded in 2023. 

Among these was the Hyundai Motor Manufacturing plant, which plans to invest $290 million in upgrades in the facility. Also mentioned was the California-based Sierra Pacific setting its window and door plant in Phenix City.

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In a top four list of counties to attract the most in investments, Montgomery was the second with $629 million, following Lee County and followed by Walker and Dothan counties. 

Rural communities in Alabama were credited with attracting businesses when it raked in $1.7 billion in new capital investment during 2023 and created 1,700 jobs. 

Foreign direct investment was also noted as companies from South Korea, Germany, Sweden and others invested almost $3 billion and contributed 3,400 jobs. 

The announcement stated that a new comprehensive economic development plan is in the works and is expected to be completed by Oct. 1. 

“Technology is changing all the time, and we need to be prepared for what’s next in a world moving at digital speed,” Ivey said. “We need new strategies and bold approaches that keep us in the driver’s seat for the next 10 years — and beyond.”