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Alabama trade mission targets opportunities at Australia’s Avalon air show

MELBOURNE, Australia — An Alabama delegation including six aerospace-focused companies are seeking to make business connections on a trade mission this week to Avalon 2023, the largest aviation, aerospace and defense exposition staged in the Southern hemisphere. The Alabama Department of Commerce is leading...

Written by Jerry Underwood

Hyundai Alabama launches production of electrified Genesis GV70 SUV

MONTGOMERY, Alabama — Hyundai marked a major milestone at its Alabama plant on Tuesday, as company officials, employees and community leaders celebrated the launch of the first Genesis Electrified GV70 SUV. It’s the first model from Hyundai’s luxury division to be assembled in the...

Written by Dawn Azok

Nucor plans $125 million Alabama facility, creating 200 jobs

DECATUR, Alabama —Nucor Corp. plans to invest approximately $125 million to open an advanced manufacturing facility in Alabama where a new business unit, Nucor Towers & Structures, will produce transmission towers, Governor Kay Ivey announced today. Nucor, which already has a significant presence in...

Written by Jerry Underwood

Alabama auto sector races toward new milestones in 2023

Alabama’s auto industry is poised for another groundbreaking year in 2023, as companies deepen their commitment to electric vehicle production and other new technologies. Both Hyundai and Mercedes-Benz continue to expand their lineup of EV models built in the state. Honda, meanwhile, plans updates...

Written by Dawn Azok

Auto supplier Samkee Corp. selects Alabama for its first U.S. plant

MONTGOMERY, Alabama — Governor Kay Ivey announced today that Samkee Corp., a major South Korean automotive supplier, plans to invest $128 million to open its first U.S. factory in Alabama through a project that will create 170 jobs in Tuskegee and provide an economic...

Written by Jerry Underwood

Alabama exports soared to new record in 2022, topping $25.5 billion

MONTGOMERY, Alabama — Governor Kay Ivey announced today that Alabama exports surged to over $25.5 billion in 2022, setting a new annual record and providing another indicator that the state’s economy is performing strongly. Last year’s surging export activity was driven by rising overseas...

Written by Jerry Underwood

Rising Alabama exports put 2022 on course for record year

Alabama exports are bouncing back from global trade frictions and disruptions caused by the COVID-19 pandemic, which combined to interrupt years of momentum that lifted overseas shipments of Alabama-made goods. While full-year results are not yet available for 2022, trade data show that Alabama...

Written by Jerry Underwood

Trade missions uncover export opportunities for Alabama companies

For Alabama-based manufacturer Sealing Equipment Products Co., or SEPCO, selling its mechanical seals, gasketing materials, compression packing and other high-performance products in markets around the world has become a core element of its business. Today, SEPCO ships products to customers in approximately 40 different...

Written by Jerry Underwood

Foreign investment accelerates with new growth projects in Alabama

With new growth projects under way in key industries such as automotive and aviation, foreign direct investment continues to act as a powerful catalyst in Alabama’s economy, casting a wave of job creation and triggering positive ripple effects. Since 2018, foreign companies have launched...

Written by Jerry Underwood

Motor vehicles power growth for Alabama’s export machine

Alabama-built vehicles are blazing a trail in the global economy, ranking as the state’s top export product and serving as a brand ambassador that landed in 73 foreign countries in 2021. More than $7.7 billion in Alabama vehicle exports were recorded in 2021, topping...

Written by Jerry Underwood

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