Montgomery, AL – Today, Governor Kay Ivey announced the launch of Alabama’s new economic strategic plan, Catalyst, which is designed to guide the state’s economic growth over the next decade and beyond. The plan, presented by Commerce Secretary Ellen McNair, replaces the previous framework, Accelerate Alabama, which since 2012 has attracted $67 billion in capital investment and nearly 170,000 job commitments.
Governor Ivey emphasized the importance of updating the state’s economic strategy to ensure Alabama remains competitive in a rapidly evolving global economy.
“We must have an economic development strategy that prepares Alabama for the 2030s today,” said Governor Ivey. “New technologies are revolutionizing every aspect of the business world, and it’s vitally important that we’re ready for these fast-paced changes so we can remain competitive for projects that create good jobs and inject vitality into communities. Catalyst will keep us energized and in the game as the future brings new challenges.”
Catalyst expands beyond traditional business recruitment efforts by focusing on enhancing human capital, promoting entrepreneurship, attracting talent, and fostering rural development. A key element of the plan is quality placemaking, which aims to leverage Alabama’s outdoor recreation opportunities to enhance community appeal.
The plan identifies eight priority industry sectors for long-term economic development:
- Mobility (automotive and aerospace)
- Defense
- Metal and Advanced Materials
- Chemical Manufacturing
- Forestry and Wood
- Agriculture and Food
- Bioscience
- Technology
Two additional critical sectors, Business Services and Logistics & Distribution, were identified as “enablers” capable of driving growth across these industries.
Secretary McNair, who took office as Commerce Secretary earlier this year, was tasked with developing the new strategic plan. A task force, including leaders from the Economic Development Partnership of Alabama, Innovate Alabama, and the Retirement Systems of Alabama, collaborated on the plan’s creation with support from McKinsey & Company, Troy University, and Alabama A&M University.
McKinsey conducted extensive analyses, engaging with over 400 economic developers, community leaders, and business leaders across the state. The process also included 17 regional workshops and focus groups.
Looking ahead, McKinsey will assist with launching the Alabama Growth Alliance, a new initiative designed to coordinate public and private leadership to boost economic development.
“By prioritizing collaboration, innovation, and strategic investment, Alabama is reinforcing its position as a top destination for business and economic growth,” said Secretary McNair.
Catalyst aims to position Alabama’s cities and rural communities to capitalize on emerging opportunities while sustaining long-term economic success.
