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Success in attracting new businesses bodes well for Alabama economy despite pandemic
While 2020 was a devastating year economically for small businesses and their employees in particular, Alabama continues to make gains in attracting new companies to the state.
There have been dozens of new projects and expansion of existing facilities in Alabama which will lead to nearly $5 billion in capital investment. These new sites are expected to lead to 10,000 new jobs in the state.
The success for economic development projects has gained Alabama several accolades for these achievements. For the past decade, the state has earned many national awards for its pro-business environment.
In addition, Alabama has continually earned the reputation as one of the top states in the nation for manufacturing plants to set up shop because of the job training programs and skilled workforce.
Yet, Alabama cannot rest on its laurels and must continue to work to assist existing business owners, small and big, in their recovery from the pandemic. The restrictions and shut down in the state and nation hurt businesses who are still struggling to get employees back to work in some sectors of the economy.
This past year was so difficult for our state and the nation, but the recognition Alabama has received signals good news for the state in the future.
Paul DeMarco is a former member of the Alabama House of Representatives.