Rural economic developers joined with Alabama Department of Commerce officials this week for a summit centered around job growth.
Newly released Commerce Department data shows companies committed $1.7 billion in capital investment into rural Yellowhammer State counties in 2021.
This investment, according to Commerce Secretary Greg Canfield, is a sign of good things to come for rural Alabama.
“Companies focused on growth are seeing real opportunities in rural Alabama, which in turn benefits from projects bringing an invigorating economic spark,” said Canfield, according to Made in Alabama. “It’s clear that the conditions for growth are ripe in rural Alabama, and we want to make sure its communities are harvesting the fruit of new investment and good-paying jobs.”
This economic momentum has carried into 2022, as significant projects have come to 40 “targeted” counties. Canfield noted that these counties, which have less than 50,000 residents, are eligible for increased incentives.
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Rural counties that led job creation in 2021 were:
- Franklin County: 256
- Clay County: 210
- Chambers County: 174
- Covington County: 135
- Randolph County: 130
Rural Alabama has also benefitted from increased foreign investment, which totaled $247 million in 2021, Made in Alabama reported. According to Commerce Department figures, Japanese companies led foreign investment with nearly $96 million.
During the summit, Commerce Department Rural Development Manager Brenda Tuck touched on her office’s efforts to bolster economic development initiatives.
Part of this effort, according to Tuck, has been the creation of the Simulated Training and Readiness program. The program trains economic developers in rural Alabama to help them implement strategies to attract growth projects.
“We’ve made good progress over the past couple of years, but we’re not ready for a victory lap,” said Tuck. “We’re committed to doing everything we can to advance and accelerate strategic economic development in Alabama’s rural counties, so the hard-working citizens there can benefit from new investment and jobs.”
Canfield said he was “more confident than ever” that the department’s efforts would help rural areas of the state overcome challenges associated with attracting high-impact projects.
“Having served as Alabama’s Commerce Secretary since 2011, I know that economic development efforts in rural communities often face specific challenges that are not present in more populous areas,” said Canfield. “But I am more confident than ever that the partnerships we have developed — and the strategies we’ve up into place — are helping to overcome many of those challenges.”
Dylan Smith is the editor of Yellowhammer News. You can follow him on Twitter @DylanSmithAL
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