Bounty of projects sets stage for $1.6 billion in new Alabama investment
Alabama’s economic development team has plenty to be thankful for this November, as growth projects announced during the month are poised to pump over $1.6 billion in new capital investment into the state’s economy.
The bounty of projects, involving a range of industries from bioscience to food products and logistics, will create more than 2,000 jobs in communities from Athens to Dothan and Montgomery.
“The Alabama economic development team’s chief objective is to help spark the creation of high-quality jobs throughout the state by strategically focusing on industries with solid long-term growth prospects,” said Greg Canfield, secretary of the Alabama Department of Commerce.
“Overcoming complex challenges shows that our team is executing on this plan and delivering results that make a difference for the state and its hard-working citizens,” he added.
New Alabama projects announced in recent days include:
- Ohio-based Gregory Industries announced plans to invest $30 million to build a 325,000-square foot facility in the Elm Industrial Park in Athens to produce highway safety products. The project will create 100 jobs.
- Smith & Co., a precision CNC machining startup, said it will invest almost $3 million to open a facility in Birmingham to serve the defense, aerospace and automotive industries. The company plans to hire 54 employees earning an average wage of $68,000.
- In Auburn, SiO2 Materials Science launched a $123 million expansion of its manufacturing facility, allowing it to increase production capacity of its innovative vaccine vials and syringes that are critically needed in the fight against COVID-19.
Matt Gregory, CEO of Gregory Industries, said the new manufacturing campus in Athens will allow the company to expand its production capabilities and better serve customers in the Southeast.
“We are very excited at the prospect of creating more jobs, and more business in Northern Alabama,” Gregory said.
Robert Smith, founder and CEO of Smith & Co., said Birmingham is the perfect spot for his new venture, which will have 3-D metal printing capabilities.
“There is no comparison — the restaurants, events, proximity to other cities and the airport, cost of living,” Smith said. “Being in Birmingham will make it easier to attract talent, especially high-level engineers.”
Smith & Company has announced that it will invest $2.6 million in Birmingham in order to support the aerospace industry in #Alabama! The project will also bring 54 #jobs to the region!#BHMHasMorehttps://t.co/E8uWSGNfr9
— Birmingham Business Alliance (@BHMBizAlliance) November 22, 2021
MAJOR GROWTH PROJECTS
Well-known national brands also announced Alabama growth projects in November.
Topping the list is The J.M. Smucker Co., which is investing $1.1 billion in a manufacturing facility in the Birmingham region that will create 750 jobs. The project is believed to be the largest in Jefferson County’s recent history.
Also this month, internet retailer Amazon announced three separate growth projects that will create 900 jobs in Huntsville, Montgomery and Birmingham.
In addition, logistics powerhouse FedEx just launched a project to open a $57 million facility that will create over 200 jobs in Dothan.
“Alabama’s economic development team has managed to make impressive accomplishments in what remains a very challenging environment, locking up growth projects in key industrial sectors such as automotive, aerospace, steelmaking, bioscience, forest products and more,” Secretary Canfield said.
“The pipeline of potential projects as we wrap up 2021 and head into a new year continues to look promising, and you can bet the Alabama team intends to build on the momentum we have generated,” he added.