MONTGOMERY, Ala. – Alabama’s economy surged in 2024, with new and expanding industries generating $7 billion in capital investments and creating more than 8,500 jobs statewide, according to a new report released Monday, March 24, by Gov. Kay Ivey.
The “2024 New & Expanding Industry Announcements Report” highlights 224 projects that contributed to the state’s economic growth, reinforcing Alabama’s reputation as a prime destination for business and innovation.
“Alabama’s economy is on the move, and this report proves it,” Gov. 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.”
Key projects around the state include Novelis’ $1.6 billion expansion of its aluminum mill in Baldwin County, bringing the total investment to over $4 billion. Meta Platforms also announced an $800 million data center in Montgomery, adding 100 jobs, while Coca-Cola Bottling UNITED invested $330 million in a new Birmingham facility.
Rural areas saw significant growth, attracting $1.2 billion in investments and nearly 1,700 new jobs.
Talladega County secured over $100 million in investments across six projects, adding 48 jobs, with major investment contributions from Nemak in Sylacauga and job creation from Programmable Logic Consulting LLC, Dolomite Products LLC, and Omya Inc. in Sylacauga as well as Automation Robotics Controls in Childersburg.
“Alabama’s best days are ahead,” said Gov. Ivey. “We will keep building on this momentum, creating jobs, and ensuring that Alabama remains a powerhouse for economic growth.”
