Hyundai Motor Manufacturing Expands Montgomery, Alabama Plant
According to company officials the expansion will facilitate the production of redesigned Hyundai Elantra and Santa Fe vehicles and a new, more fuel-efficient Theta engine.
The Montgomery Area Chamber of Commerce said Hyundai’s new investment in Alabama totals $680 million over the past two years, strengthening the company’s presence in the Capital City and demonstrating its confidence in the area’s ability to support a growing workforce.
Greg Canfield, Secretary of the Alabama Department of Commerce, said foreign investment typically represents 30 to 50 percent of the total new capital investment from economic development projects in Alabama each year.
“Foreign investment continues to invigorate Alabama’s economy and spark dynamic growth across many industry sectors, from automotive to aerospace and chemicals to forest products,” Secretary Canfield said.
“It’s a priority for us as a state to continue to build on relationships we have formed with international companies and to make sure we are at the top of their list for new investment and job creation,” he said.
Ninth Avenue Foods Establishes Columbus, Indiana, Midwest Headquarters and Production Hub
What’s Driving Record Industrial Real Estate Demand
2020 Top States for Doing Business Showcase Their Pro-Business Environments
2020 Gold & Silver Shovel Awards Recognize State and Local Economic Development Efforts
Pandemic Fuels Data Center Growth
Regional Report: Southeast Ports Expand Capacity
Trends in Office and Industrial Parks