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Last updated 1:23AM ET
March 3, 2021
Alabama
Alabama
Alabama Sees Record Year for Investment
(2007-12-24)
(APR - Alabama Public Radio ) - Industrial prizes valued at more than $6 billion were announced in Alabama this year, a record mark that's expected to grow as the state works with prospects that could bring more than 17,500 jobs in 2008.

Data from the Alabama Development Office showed there were 271 new projects or expansions as of last week. The state is also working with 76 prospects, including 44 with at least 100 jobs each.

ADO director Neal Wade said the agency has a global marketing strategy in place and plans to aggressively promote Alabama's economic development scene in international and domestic markets.

Industrial investments for 2007 surpasses the previous investment record of $4.7 billion set in 2005. The only other year the state cracked the $4 billion mark was 1981.

German steelmaker ThyssenKrupp placed Number 1 in investment and jobs among individual projects announced this year while rail car manufacturer National Alabama Corporation came in second place.

Other 2007 highlights include Korean automotive projects scattered across east Alabama that will supply a Kia assembly plant under construction in West Point, Georgia. Another major investment is AlphaPet's new $160 million resin-producing facility in Decatur.

(Copyright 2007 by The Associated Press. All Rights Reserved.)
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