Alabama is a recognized leader in the United States for industry development. In its 10th annual Ranking Report of all states, Business Facilities Magazine ranked Alabama in the top ten for 10 out of 27 important business categories. They include Best Business Climate, Lowest Industrial Electricity Rates, and Economic Growth Potential.
Placing No. 1 in the category of Automotive Manufacturing Strength, Alabama continues to expand its automotive base. According to the magazine, “Mercedes-Benz’s long term committment to Alabama was followed by a parade of auto giants who have vaulted the state into the top five in U.S. automotive production, with more than 900,000 vehicles produced in 2013. Hyundai, Honda and Toyota have major automotive production facilities in Alabama, all of which are in the process of expanding.” Governor Robert Bentley who was interviewed for the report said these expansions show “that we’re producing high-quality vehicles here in Alabama.”
A recent Report from 24/7 WallStreet echoes this assessment. It ranks Alabama 8th among all states in manufacturing based upon the latest figures published by the U.S. Bureau of Economic Analysis. Similarly, the Birmingham Business Journal reports that manufacturing continues to lead the state in employment.
Alabama’s rankings from Business Facilities Magazine are as follows:
Rank Category
1 Automotive Manufacturing Strength
1 BioFuels (cellulosic ethanol)
3 Workforce Training
5 Automotive Jobs
5 Aerospace/ Defense Industry
8 Exports
9 Lowest Industrial Electricity Rates
9 Employment Recovery
9 Economic Growth Potential
10 Best Business Climate
Today’s news reinforces the findings of the Economic Impact Report which AIEC commissioned of Dr. Semoon Chang, PhD., in November 2011. The study shows Alabama to be a leader in industry and manufacturing, resulting in part from a favorable and stable environment for energy prices.