Limestone, Madison Counties Lead State in Capital Investment, Job Creation

Limestone and Madison counties topped all other counties in Alabama for new capital investment (CAPEX) and job creation, according to the 2018 New & Expanding Industry Report just released by the Alabama Department of Commerce.

Limestone County led the state with CAPEX of $1.7 billion, followed by Madison County with $1.1 billion in new capital investment. The Limestone County figures are heavily driven by the $1.6 billion Mazda  Toyota Manufacturing USA plant under construction in Huntsville-Limestone County.

Furthermore, according to the report, Limestone County ranked first in job creation at 4,172 jobs. Madison County ranked No. 3 at 1,043 jobs.

However, Harrison Diamond, Business Relations officer for the City of Huntsville, said the report contains a caveat.

“The numbers for our area are even better when you realize that Huntsville is now comprised of Madison, Limestone and Morgan counties,” said Diamond, “Limestone’s numbers included some investment not in Huntsville, but when you pull it all together, Huntsville’s CAPEX is $2.7 billion with 5,189 jobs created in 2018.”

Growth in automotive and aerospace remained strong in 2018, boding well for North Alabama, which has momentum for the rest of 2019.

The report outlines 357 economic development projects totaling a record-breaking $8.7 billion in CAPEX statewide with 17,062 jobs from new and expanding industries. That is the highest increase since 2015 at $7.1 billion.

“This success solidifies my belief that we are building a more dynamic economy in Alabama and creating a pathway to greater prosperity for its citizens,” said Greg Canfield, secretary of the Alabama Department of Commerce.

Projects in the City of Huntsville

Company                                                                  Year     Jobs                 Investment ($)

BAE Systems Inc. 2018 200 45,500,000
BWXT 2018 5 0
Custom Assembly inc. 2018 75 0
DC Blox 2018 5 10,867,600
Dynetics 2018 130 24,455,643
EOS 2018 100 2,500,000
Facebook 2018 100 750,000,000
Kohler 2018 149 175,470,698
LG Electronics 2018 159 28,100,000
Mitchell Plastics 2018 95 18,315,000
Mynaric USA 2018 2 0
Novocol Healthcare 2018 7 1,000,000
Radiance Technologies, Inc. 2018 60 18,990,000
Redline Steel 2018 50 11,111,454
St. Gobain 2018 2 13,000,000
Torch Technologies 2018 40 6,325,000
Toyota/Mazda JV 2018 4000 1,600,000,000
VT Miltope 2018 10 0

Total                                                                                                5,189               2,700,000,000