Reviewed by: Nathan Watson
Alabama earns 2022 Silver Shovel Award for setting economic development records
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Area Development, a national business publication, selected Alabama for its 2022 Silver Shovel Award.
The magazine’s annual Shovel Awards recognize state economic development agencies that drive significant job creation through innovative policies, infrastructure improvements, processes and promotions that attract new employers and investments in new and expanded facilities.
2022 was a record year
In Alabama, companies announced new facilities and expansion projects involving $10.1 billion in capital investment last year. It was the highest annual total in state history, eclipsing the previous record of $8.1 billion set in 2018.
The investments and project created over 13,000 jobs across Alabama.
Big Projects
Area Development also recognized the Novelis project in Bay Minette that is expected to create 1,000 jobs through a $2.5 billion investment as a “Manufacturing Project of the Year” for 2022.
Other projects Area Development singled out in Alabama:
- Hyundai’s $300 million investment to launch EV production at its Montgomery plant
- Hyundai Mobis’ $205 million battery module plant.
- Growth plans in Alabama by Airbus, First Solar, United Launch Alliance, Manna Beverages & Ventures, and Diego.
“Last year was a remarkable one for Alabama’s economic development team. Not only did these professionals secure high-impact growth projects for the state during 2022, but they also managed to set records while doing it,” said Greg Canfield, Secretary of the Alabama Department of Commerce.
Consistent winner
The magazine has regularly honored Alabama with Shovel Awards. It received Gold Shovel Awards in 2006, 2013, 2019 and 2021, and Silver Shovel Awards for 2007–2012, 2014–2018 and 2022.
Last September, Area Development ranked Alabama No. 6 in its annual “Best States for Doing Business” survey.
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