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The National Economic Development Publication reports that a survey of site selection experts has once again ranked Alabama among the top states for business, citing several factors that contribute to a fertile growth area.
Alabama ranks No. 6 overall in Environmental Development’s 2022 “Top States for Doing Business” analysis, which is the same as the previous two years. The show consistently ranks in the survey’s top 10 overall, demonstrating the state’s commitment to facilitating economic growth and job creation.
Additionally, Alabama earned top 10 rankings in 11 of 13 individual categories in the new Environmental Development Study, which includes critical economic development issues.
“Companies from around the world have discovered that our state can provide a favorable business environment, a vibrant workforce and a support system that can help them succeed,” said Alabama Department of Commerce Secretary Greg Canfield.
“The message is clear: Alabama offers the benefits that growth-minded companies are looking for,” he said.
Environmental Development’s 2022 “Top Business States” rankings reflect the results of a recent survey that asked industry-leading consultants to provide their top state choices in specific categories that impact companies’ location and facility plans.
The publication said it will bring in site selectors as judges, as they have deep experience in evaluating the factors that pave the way for business growth.
“From spending to taxes and incentives to training to welcoming and problem-free government, they’ve learned through experience which states are leading the way,” he explained.
Here’s how Alabama ranked in those categories:
- Project Approval Speed: No. 1
- Energy Supply and Costs: Number 3
- Ideal control environment: No. 3
- Total business value: No. 4
- Manpower Development Programs: Number 4
- Business Incentive Programs: Number 5
- Available real estate: No. 7
- Cooperative Government: No. 8
- Corporate Tax Structure: No.8
- Competitive work environment: No. 10
- Site Readiness Programs: No. 10
The ranking reflects strong performance by the Alabama Economic Development Group in 2021.
Companies announced $7.7 billion in new capital investment last year for new facilities and expansion projects, the second-highest annual rate on record for the state, according to Commerce Department data.
These 2021 projects will create more than 10,000 jobs across Alabama and inject economic value into many communities in both urban and rural areas. See the report on the results.
Earlier this year, Alabama was nominated for a Silver Shovel Award for economic development achievement in 2021.
Alabama Magazine started the award in 2010. The state claimed a golden shovel in 2020 for the success of economic development projects that boosted the manufacturing sector.
This story originally appeared on the Alabama Department of Commerce’s Made in Alabama website.
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