CEO Guide to Site Selection

#34

Alabama

CEO Rank on Best & Worst States for Business

A SWEET HOME FOR INNOVATION AND MANUFACTURING

While Michigan often claims the fame, Alabama continues to climb the ranks as an auto manufacturing powerhouse. Hyundai recently marked its 5 millionth vehicle made in the state at the Montgomery assembly plant, and new auto industry investments continue to pour in. Alabama also continues to foster its innovation with two keypieces of innovation legislation backed by the Alabama Innovation Commission, a high-level statewide panel focusing on entrepreneurship, technology and innovation. House Bill 540 created the Alabama Innovation Corp, a private-public partnership tasked with growing the state’s technology and innovation ecosystem.

“Hyundai Motor Manufacturing Alabama is an integral member of not only the River Region but the entire state of Alabama. I’m thrilled to celebrate the 5 millionth vehicle rolling off the line in our great state. Alabama has become a major player in the automotive industry, and today’s milestone proves we will maintain our status as an industry leader.”
Kay Ivey
Governor

TAXES

0 %

top corporate income tax

# 0

on the Tax Foundation’s State Business Tax Climate Index ranking

EDUCATION

0 %

of students graduated high school in 2019

0 %

of adults age 25 and older have a bachelor’s degree or higher

UNEMPLOYMENT RATE

0 %

RIGHT TO WORK STATE

Yes

QUALITY OF LIFE

# 0

POPULATION GROWTH

0 %

increase between 2010 and 2020

KEY INCENTIVES

Apprenticeship Tax Credit: Offers a state income tax credit up to $1,250 per qualifying apprentice for up to ten apprentices employed.

Jobs Credit: Offers an annual cash rebate of up to 3% for new, direct jobs for up to 10 years.

Investment Credit: Offers up to 1.5% of the qualified capital investment expenses for a qualified project of up to 10 years.

Growing Alabama Credit: Offers funds for site preparation and public infrastructure needs of existing industrial sites and other qualified purchases.

EDCs

Alabama Department of Commerce Business Development Division madeinalabama.com/business-development

Economic Development Partnership of Alabama
edpa.org

Amazing Alabama
amazingalabama.com

Economic Development Association of Alabama
edaa.org

Birmingham Business Alliance
birminghambusinessalliance.com

HIGHLIGHTED PROGRAM OR INITIATIVE

JumpStartAL is a VR-based education and training program designed to build Alabama’s next generation of skilled labor. Its mission is to develop a partnership of public and private entities that create career awareness and training courses working to meet the state’s labor needs of tomorrow.

BIG DEALS

  • Mercedes-Benz announced plans in October 2020 for a $54 million investment in its EV assembly line.
  • ArcelorMittal broke ground in February 2021 on a $775 million project that will create 200 jobs near Mobile.
  • Amazon announced in May 2021 a $100 million project that will create more than 500 jobs.
  • Landing announced in June 2021 plans to relocate its headquarters from San Francisco to Birmingham and create 816 jobs.
  • Westwater Resources announced in June 2021 a $124 million processing plant and 100 jobs.
  • Mazda Toyota Manufacturing announced in Septem- ber 2021 it will invest an additional $830 million in its Huntsville plant.

BIG COMPANIES

  • Regions Financial Corp. (Fortune 500 headquarters)
  • Mazda Toyota Manufacturing
  • Mercedes-Benz
  • Amazon
  • Airbus
  • Hyundai
  • Lockheed Martin
  • Northrop Grumman
  • ArcelorMittal (AM/NS Calvert)