Montgomery, AL – Governor Kay Ivey on Tuesday announced the release of the 2025 New & Expanding Industry Announcements Report, highlighting a record year for economic development across Alabama.
According to the annual report from the Alabama Department of Commerce, the state recorded 234 new and expanding industry projects in 2025, representing a combined capital investment of $14.6 billion—the highest annual total in Alabama’s history. These projects are expected to generate 9,388 new job commitments statewide.
“Alabama’s economy is riding a wave of historic momentum, with signs of success in every corner of our state,” Governor Ivey said. “Innovative developments, high-quality jobs and transformative investments are ushering in an extraordinary era of prosperity, as new companies move in and existing ones expand.”
Governor Ivey noted that the report reflects broader economic changes since she took office in 2017, driven by an emphasis on business recruitment, workforce development and long-term growth. During her State of the State address, she cited more than $69 billion in investments and over 100,000 jobs created during that period, adding that Alabama consistently ranks among the top ten states for doing business.
The 2025 report shows growth across multiple sectors, including biosciences, technology, metals and advanced materials, automotive and aerospace, forestry and wood products.
Among the year’s largest projects:
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Eli Lilly and Company announced plans to invest more than $6 billion in a new advanced manufacturing operation in Huntsville and Limestone County. The facility, focused on synthetic medicine active pharmaceutical ingredients, is expected to create 450 jobs and represents the largest initial investment in Alabama history.
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ArcelorMittal is investing $1.2 billion in Mobile County to build a facility producing specialty electrical steel for electric vehicle motors and other applications, creating more than 200 jobs.
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Owens Corning plans to open a $325 million shingle manufacturing plant in Prattville, adding 89 jobs in Autauga County.
Economic growth extended beyond major metro areas. Targeted rural counties accounted for $2 billion in capital investment and 2,011 new jobs in 2025. A major rural project includes Georgia-Pacific’s $800 million investment to modernize and expand its Alabama River Cellulose mill in Monroe County, which will become the largest softwood pulp mill in the United States.
The report also documented $3.6 billion in foreign direct investment projects expected to create 2,274 new jobs.
Governor Ivey said Alabama’s economic development team is positioned to continue building on this momentum. “We are open for business, ready to embrace new challenges and poised to welcome even more world-class companies,” she said.
Commerce Secretary Ellen McNair said the results reflect a strong first year for “Catalyst,” the department’s new strategic growth plan, supported by initiatives such as SEEDS and Growing Alabama, which focus on site development, infrastructure and long-term competitiveness.
“Our economic development efforts are thriving,” McNair said. “We have all the ingredients to continue that momentum, creating jobs and prosperity for every Alabamian.”
