Governor Ivey Announces Record-Breaking Year for Alabama Economic Development

MONTGOMERY – Governor Kay Ivey on Tuesday announced the release of the 2025 New & Expanding Industry Announcements Report, marking a record year for economic development growth in communities across the state.

The Alabama Department of Commerce annual report lists 234 projects last year that combined for a total capital investment of $14.6 billion, the highest annual total in state history, along with 9,388 new job commitments.

“Alabama’s economy is riding a wave of historic momentum, with signs of success in every corner of our state. Innovative developments, high-quality jobs and transformative investments are ushering in an extraordinary era of prosperity, as new companies move in and existing ones expand,” said Governor Ivey. “This growth is the result of a strategic economic development plan and the hard work of a team that is focused on keeping Alabama at the forefront of a competitive global economy.”

Governor Ivey said the report reflects a broader economic transformation that has taken place since she took office in 2017, guided by a deliberate focus on business recruitment, workforce development and long-term growth. She highlighted her disciplined, results-driven strategy during her state of the state address.

“Being a former economic developer, I knew our first opportunity was to recruit and support businesses. Since then, we have seen investments totaling $69 billion which has created 100,000+ jobs – and counting,” said Governor Ivey during her address. “Alabama consistently ranks among the top ten states for doing business.”

Growth was seen in a wide array of business sectors, such as biosciences, technology, metals and advanced materials, automotive and aerospace, forestry and wood products and more.

Pivotal projects included:

–Pharmaceutical giant Eli Lilly and Company plans to spend more than $6 billion to build an advanced manufacturing operation in Huntsville and Limestone County. The synthetic medicine active pharmaceutical ingredient facility, which will create 450 jobs for engineers, scientists, lab technicians and other skilled personnel, represents the largest initial investment in Alabama history.

-ArcelorMittal is investing $1.2 billion to build a facility in Mobile County to produce a specialty electrical steel that is used in EV motors and other applications. The project will create more than 200 jobs.

–Owens Corning announced plans to open a $325 million state-of-the-art shingle manufacturing plant in Prattville that will add 89 jobs in Autauga County.

The growth was not limited to Alabama’s largest cities. Rural Alabama also made a strong showing in 2025, as the state’s “targeted” rural counties combined to register a total capital investment of $2 billion and 2,011 new job opportunities.

One substantial investment in this region is Georgia Pacific’s plans to spend $800 million in Monroe County to modernize, expand and streamline production capabilities at the company’s Alabama River Cellulose mill. The project will make the Perdue Hill facility the largest softwood pulp mill in the U.S.

The report showed a total of $3.6 billion in foreign direct investment projects in 2025 that are set to create 2,274 new job opportunities.

Governor Ivey affirmed Alabama’s economic development team is ready for more success this year and beyond.

“We are open for business, ready to embrace new challenges and poised to welcome even more world-class companies, advanced technologies and breakthrough products,” said Governor Ivey. “They should look no further than Sweet Home Alabama, and we plan to get them here.”

Commerce Secretary Ellen McNair said the results confirm an impressive debut for “Catalyst,” the Commerce Department’s new strategic economic growth plan.

At the same time, initiatives such as SEEDS and Growing Alabama are helping communities prepare industrial sites and infrastructure, while business and government leaders collaborate on ways to maintain a competitive edge.

“We are confident that ‘Catalyst’ will continue to map solid growth in key industries,” said Secretary McNair. “Our economic development efforts are thriving, and we have all the ingredients to continue that momentum, creating jobs and prosperity for every Alabamian.”

The “2025 New & Expanding Industry Announcements Report” is available here. 

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