August 2023 Group Watch: International Investment Boosting Job Growth in AL
Job growth tied to international investment in Alabama has been rapidly outpacing the state’s general employment growth rate, according to a report that tracks the impact of foreign direct investment (FDI) across the U.S. The Global Business Alliance analysis says employment in Alabama tied to FDI surged 12 percent between 2015 and 2020, compared to overall employment growth of just 1 percent during the same period. Almost 700 international companies have operations in Alabama, and nearly 117,000 jobs in the state stem from international investment. In the past decade, international investment in Alabama has surpassed $25 billion, generating more than 38,000 job commitments in key industries including automotive, aviation and metals manufacturing. Last year, FDI pouring into Alabama topped $5.5 billion, representing more than half the annual total, a record $10.1 billion. These investments come from companies based in India, South Korea, France and Japan.
