Alabama reportedly saw $7 billion in investments in 2024: A look at the state’s biggest projects

Alabama saw 224 economic development projects last year, totaling $7 billion in investments, with 8,500 jobs announced.

That’s according to a new report from the Alabama Department of Commerce, released today.

Alabama’s Gulf Coast powered those numbers, as the top county for new investment was Baldwin County, with $1.8 billion, while the top county for new jobs was Mobile County, with more than 2,500.

Novelis is investing $1.6 billion in its integrated aluminum mill in Baldwin County, pushing the total investment in the project to over $4 billion.

Gov. Kay Ivey hailed the report as a sign that the state’s economy is “on the move.”

“Companies around the world see Alabama as the place to invest, grow and succeed — and we’re just getting started,” she added.

Other big projects announced included an $800 million data center for Meta Platforms in Montgomery, with 100 jobs, and Coca-Cola’s Bottling United’s $330 million headquarters in Birmingham, creating 50 jobs.

The report also highlighted rural economic growth, with $1.2 billion in investment, creating 1,700 jobs. One particular project was Republic Airways choosing historic Moton Field in Tuskegee as the location for its Southeast pilot training school, LIFT Academy.

Escambia County was the top rural county for investment, with $355 million.

Foreign investment continued to provide a large slice of investment, with $3.5 billion and 3,759 jobs announced. Companies from 17 different nations announced projects last year.

Commerce Secretary Ellen McNair said the state’s new Catalyst economic growth plan prioritizes innovation, attracting talent and long-term prosperity.

“Together, we’ll keep driving growth, creating jobs and ensuring a bright future for every Alabamian,” McNair said.