Alabama has once again received a Silver Shovel Award from Area Development, the go-to business publication for economic development.
The award recognizes state economic development agencies that have driven job creation through innovative policies. It takes into account the ability of these agencies to attract new employers and investments in new and expanded facilities.
Alabama earned the Silver Shovel Award for investment and job creation.
“The Silver Shovel Award is yet another testament to Alabama’s strong pro-business environment and to the talented workers that help these world-class companies grow and thrive,” said Gov. Kay Ivey. “This honor demonstrates that our efforts to create good jobs and spark economic growth are producing bountiful results in Sweet Home Alabama.”
With companies announcing construction and expansion projects involving a record $10.1 billion in capital investment last year, the state has surpassed its previous investment record of $8.1 billion, set in 2018. The 2022 projects are expected to generate more than 13,000 jobs across the state, stimulating economic growth in urban and rural areas.
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Alabama qualified for the Silver Shovel award in the 4- to 6-million population category, based on the number of high-value added jobs per capita, the amount of investment, the number of new facilities, and the industry diversity of the submitted projects. Other states honored in the same category include South Carolina and Wisconsin.
In addition to the Silver Shovel Award, Area Development recognized the $2.5 billion Novelis project in Bay Minette, which is projected to create 1,000 jobs, as the “Manufacturing Project of the Year” for 2022. Large-scale projects in Alabama related to electric vehicles, such as Hyundai’s $300 million investment to launch EV production at its Montgomery plant and Hyundai Mobis’ $205 million battery module plant, were also highlighted by the publication.
“Last year was a remarkable one for Alabama’s economic development team. Not only did these professionals secure high-impact growth projects for the state during 2022, but they also managed to set records while doing it,” said Greg Canfield, secretary of the Alabama Department of Commerce. “Their efforts are creating exciting new career opportunities for Alabama citizens and enhanced growth possibilities for communities across the state.”
The Silver Shovel Award carries significant weight in the economic development industry. Area Development, founded in 1965, is considered a leading executive magazine covering corporate site selection and relocation. It focuses on the needs of professional site consultants and its audience includes presidents, prime executives, and decision makers from various sectors.
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This is not the first time Alabama has been honored by the publication. The state received Gold Shovel Awards in 2006, 2013, 2019, and 2021, and Silver Shovel Awards for the years 2007–2012, 2014–2018, and now, 2022.
Last September, Alabama ranked No. 6 in Area Development‘s annual “Best States for Doing Business” survey, maintaining its position in the list’s Top 10.
Since Ivey took office in 2017, economic development activity in Alabama has attracted more than $41 billion in investment through projects creating nearly 80,000 jobs, according to figures from the Commerce Department.
More details about Alabama’s economic development successes can be found in the Alabama Department of Commerce’s “2022 Alabama Economic Development Impact Report.”
Grayson Everett is a staff writer for Yellowhammer News. You can follow him on Twitter @Grayson270 for coverage of the 2023 legislative session.
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