Recent projects from companies like Amazon, FedEx, Lowe’s and Carvana have helped elevate Alabama’s business environment.
As companies recover from the shock of the pandemic and begin to grow again, many are looking to move or expand operations. According to a recent survey conducted by Area Development, Alabama is one of the best places for those businesses to land.
The survey, which asked leading location and economic development consultants to rank states in thirteen individual categories, places Alabama as the overall sixth best state in the country for business readiness. Alabama also placed in the top 10 in 10 out of the 13 categories.
Alabama's overall cost of doing business is 2nd in the nation, primarily due to strong business incentives and low energy costs from providers like Alabama Power, which services most of the state.
The state's excellent business incentives programs put it third in the country in that category. Alabama has rolled out the red carpet for economic development by providing incentives such as the Investment Credit and the Growing Alabama Credit, among others.
Finally, Alabama ranks No. 1 in its speed of permitting, giving us an advantage when it comes to getting things done fast for new companies in the state.