Alabama in 2025 announced 234 economic development projects totaling $14.6 billion, the highest annual total ever, with 9,388 job commitments projected.
That’s twice the amount of investment for 2024, with additions in biosciences, technology, metals, automotive and aerospace, among other sectors.
Gov. Kay Ivey on Tuesday announced the release of the Alabama Department of Commerce’s 2025 New & Expanding Industry Announcements Report.
In a statement, she said Alabama’s economy is “riding a wave of historic momentum, with signs of success in every corner of our state.”
Ivey said the state has seen more than $69 billion in investments during her time as governor, creating more than 100,000 jobs.
“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,” Ivey said. “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.”
Among the marquee projects announced last year were:
Eli Lilly’s $6 billion advanced factory in Huntsville, which will create about 450 jobs. The project to produce pharmaceuticals is the largest initial investment in Alabama history. The $1.2 billion ArcelorMittal steel facility in Calvert in Mobile County, which will create more than 200 jobs. Georgia-Pacific’s $800 million expansion and modernization of its Alabama River Cellulose Mill in Perdue Hill, which will make it the largest softwood pulp mill in the U.S.The $325 million Owens Corning shingle manufacturing facility in Prattville which plans to hire up to 100 people. Construction is expected to begin early next year, with production starting in 2027.
According to the report, foreign direct investment totaled $3.6 billion, with 2,274 new jobs announced. And the state’s targeted rural counties tallied up a total capital investment of $2 billion, with 2,011 new job opportunities.
Commerce Secretary Ellen McNair said the numbers confirm the goals for the Commerce Department’s Catalyst strategic economic growth plan, which identified eight target sectors of business: metal and advanced material, chemical manufacturing, forestry and wood, agriculture and food, biosciences, technology, defense and mobility.
“Our economic development efforts are thriving, and we have all the ingredients to continue that momentum, creating jobs and prosperity for every Alabamian,” McNair said.