News
Nucor plans $125 million Alabama facility, creating 200 jobs
DECATUR, Alabama —Nucor Corp. plans to invest approximately $125 million to open an advanced manufacturing facility in Alabama where a new business unit, Nucor Towers & Structures, will produce transmission towers, Governor Kay Ivey announced today. Nucor, which already has a significant presence in Alabama, has committed to creating 200 full-time jobs at the facility…
Alabama auto sector races toward new milestones in 2023
Alabama’s auto industry is poised for another groundbreaking year in 2023, as companies deepen their commitment to electric vehicle production and other new technologies. Both Hyundai and Mercedes-Benz continue to expand their lineup of EV models built in the state. Honda, meanwhile, plans updates for several Alabama-made models, while Mazda Toyota Manufacturing proceeds with its…
Auto supplier Samkee Corp. selects Alabama for its first U.S. plant
MONTGOMERY, Alabama — Governor Kay Ivey announced today that Samkee Corp., a major South Korean automotive supplier, plans to invest $128 million to open its first U.S. factory in Alabama through a project that will create 170 jobs in Tuskegee and provide an economic boost for Macon County. After finalizing agreements with state and local…
Alabama exports soared to new record in 2022, topping $25.5 billion
MONTGOMERY, Alabama — Governor Kay Ivey announced today that Alabama exports surged to over $25.5 billion in 2022, setting a new annual record and providing another indicator that the state’s economy is performing strongly. Last year’s surging export activity was driven by rising overseas shipments of Alabama-made vehicles, aerospace parts, chemicals, minerals, metals and paper…
Rising Alabama exports put 2022 on course for record year
Alabama exports are bouncing back from global trade frictions and disruptions caused by the COVID-19 pandemic, which combined to interrupt years of momentum that lifted overseas shipments of Alabama-made goods. While full-year results are not yet available for 2022, trade data show that Alabama exports approached $23.4 billion in value through November — a figure…
Trade missions uncover export opportunities for Alabama companies
For Alabama-based manufacturer Sealing Equipment Products Co., or SEPCO, selling its mechanical seals, gasketing materials, compression packing and other high-performance products in markets around the world has become a core element of its business. Today, SEPCO ships products to customers in approximately 40 different countries, and Chief Executive Officer Chris Wilder is hoping to expand…
Foreign investment accelerates with new growth projects in Alabama
With new growth projects under way in key industries such as automotive and aviation, foreign direct investment continues to act as a powerful catalyst in Alabama’s economy, casting a wave of job creation and triggering positive ripple effects. Since 2018, foreign companies have launched investment projects valued at more than $13 billion across Alabama, generating…
Motor vehicles power growth for Alabama’s export machine
Alabama-built vehicles are blazing a trail in the global economy, ranking as the state’s top export product and serving as a brand ambassador that landed in 73 foreign countries in 2021. More than $7.7 billion in Alabama vehicle exports were recorded in 2021, topping the total from pre-pandemic 2019 by over $1 billion, according to…
Resicum plans aviation training facility at Selma’s Craig Field
SELMA, Alabama — Governor Kay Ivey announced today that Resicum International LLC, which provides flight training and maintenance support to government, commercial and general aviation customers, plans to open an aviation training academy at Craig Field in Selma that will prepare the next generation of industry professionals from around the world. Resicum plans to invest…
Innovation Fund supports growth of ‘cancer companion’ app developer
A promising Birmingham startup that aims to help cancer patients and their families along the difficult treatment journey is recalibrating its growth plans after receiving financial support from the Alabama Innovation Fund. Fighting Cancer Network Inc., which is developing a “cancer companion” app to house informational videos as a resource for patients and caregivers, received…