MONTGOMERY, Ala. (WSFA) – In the 2024 New & Expanding Industry Announcements Report, Alabama received $7 billion in new capital investments across 224 projects, according to Gov. Kay Ivey, generating more than 8,500 career opportunities for Alabamians.

“Alabama’s economy is on the move, and this report proves it,” said Ivey. “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.”

The 2024 report shined light on key industry expansions across multiple sectors, including manufacturing, aerospace, technology and logistics. The high-impact projects last year are:

• Novelis is investing another $1.6 billion in its integrated aluminum mill in Baldwin County, pushing the total investment in the project to over $4 billion.
• Meta Platforms launched plans for an $800 million data center in Montgomery, supporting 100 operational jobs and building on the company’s earlier $1 billion+ investments in Alabama.
• Coca-Cola Bottling UNITED is investing $330 million in a new headquarters and production/distribution facility in Birmingham, creating 50 jobs and preserving 750 existing positions.

The report also showed that Alabama’s rural counties attracted $1.2 billion in investments in 2024, creating nearly 1,700 new jobs.

Republic Airways’ LIFT Academy was a breakout project last year in rural Alabama that is establishing a flight training center at historic Moton Field in Macon County.

“We are making sure economic prosperity reaches every corner of our state,” said Ivey. “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.”

Ellen McNair, secretary of the Alabama Department of Commerce, said the state’s economic momentum is being fueled by targeted strategies and forward-thinking initiatives. In 2024, Alabama launched “Catalyst,” an economic growth plan aimed at driving innovation, attracting talent and ensuring long-term prosperity.

“Through Catalyst, SEEDS and the Growing Alabama programs, we’re taking a proactive approach to growth,” said Secretary McNair. “These programs are not only bringing investment and jobs but also strengthening our communities and positioning Alabama as a leader in global industry.”

The governor emphasized that these results reinforce Alabama’s position as a premier destination for business growth, innovation and job creation.

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