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Magazine ranks Alabama as the sixth best state for doing business

Greg Canfield photo provided by Commerce Department

Area Development, a national economic development publication, reported that according to the site-selection professionals it surveyed, Alabama is the sixth best state for doing business. The survey cited a broad range of factors contributing to a fertile growth environment for Alabama.

Alabama’s number six ranking is the same as the previous two years. Alabama earned top ten rankings in 11 out of the 13 different individual categories in the new Area Development survey.

Greg Canfield is the Alabama Secretary of Commerce.

“Companies from around the world have discovered that our state can offer them a favorable business environment, a motivated workforce, and a support system that helps make success possible,” said Canfield. “The message is clear: Alabama offers the advantages that growth-minded companies are looking for.”

Economic Developer Dr. Nicole Jones told Alabama Today, “Area Development has been a leading publication in our industry for over fifty years. Alabama’s held position as Number 6 in the Top Ten States for Business survey is a testament to teamwork; the public and private sector have collaborated to create an environment conducive for business.”

The publication said that it recruits site-selection professionals as serve as judges because they have accumulated deep experience in evaluating the factors that pave the way for business growth.

“They’ve learned through experience which states are the standouts in various important factors for doing business, from costs to taxes and incentives to training to a welcoming and hassle-free government,” it notes.

“The Alabama Department of Commerce unveiled competitive, fiscally responsible tax initiatives and workforce development programs designed from continuous dialogue with industry,” Jones said. “In addition, the speed of permitting, low energy costs, and AdvantageSite program managed by the Economic Development Partnership of Alabama (EDPA) in many cases simplifies the site selection process, which keeps Alabama in a competitive position. It takes a team to build Alabama. We are thankful that companies continue to choose Alabama and recognize the diversity of industries we have a population to support.”

Alabama ranked number one in the speed of project permitting. Number three in energy availability and costs, number 3 in favorable regulatory environment, number four in the overall cost of doing business, number four in workforce development programs, number five in business incentive programs, number seven in available real estate, number seven in cooperate state government, number eight in corporate tax structure, and number ten in both competitive labor environment.

Commerce data shows that companies announced new facilities and expansion projects involving $7.7 billion in new capital investment last year, creating ten thousand jobs across Alabama.

To connect with the author of this story, or to comment, email [email protected].

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