Alabama is once again among the nation’s leading states for business, according to Area Development magazine.
In fact, the top five states in the magazine’s annual “Top States for Business” survey are all from the South. Alabama placed fourth, and was in the top 10 in 11 different categories of the magazine’s survey. Georgia finished first. Last year, Alabama placed third overall.
It’s familiar place for the state near the top, as the magazine noted. “Alabama is a perennial favorite in the upper echelons,” it stated.
Among the categories, Alabama finished:
First in favorable general regulatory environment, and speed of permitting,
Second in most improved economic development policies.
Third in overall cost of doing business.
Fourth in business incentive programs, leading workforce development programs, and cooperative and responsive state government.
Fifth in shovel-ready sites program, and competitive labor market.
Sixth in corporate tax environment.
Eighth in favorable utility rates.
Commerce Secretary Greg Canfield said in a statement that the state’s consistently high rankings “confirm that we are on the right course as we recruit new jobs and investment for Alabama.”
“In Alabama, we have made it our mission to adopt high-performance economic development policies and to continuously improve our job-training programs to position all areas for the state for growth,” Canfield said.
Last year companies announced projects involving $8.7 billion in new capital investment in the state, with more than 17,000 direct jobs. Alabama also saw $4.2 billion in foreign direct investment, according to the Department of Commerce.
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