Parts one and two of our series covered the world-class workforce training program and the incredible taxes and incentives that relocating to Alabama offers. A third and very important consideration is Alabama’s consistent ranking as one of the top places in the nation where businesses can thrive. Alabama has been ranked number 5 in the country for its business climate and the state’s workforce-training program has been ranked first in the nation.
In addition, the Montgomery Chamber of Commerce has developed and successfully implemented economic growth strategies intended to keep Montgomery in the lead as a top spot for business. Now in its second five-year phase, The Imagine a Greater Montgomery Economic Development Strategy is the Chamber’s most far-reaching plan to date. With strong plans from the MCOC to champion education, continue to diversify economic growth, accelerate revitalization and improve quality of life, and to build community capacity, engagement, and image, the city is staying on its path to continued improvement.
A region of vast economic diversity, Montgomery is home to state and regional governments, a major military installation, the USAF Air University, an extensive service industry, wholesale and retail trade, Civil War and Civil Rights tourism, and an industrial base that includes Hyundai Motor Manufacturing Alabama — Hyundai’s first manufacturing plant in the United States. This unique diversity provides a well-balanced economic environment. According to Moody’s Economy, Montgomery’s Cost of Doing Business is 87% of the national average and Cost of Living is 95% of the national average.
The initiative is through both public and private sectors and is heavily supported by a dedicated group of leaders. They see the possibilities for a better, more prosperous life in Montgomery and the River Region.