MONTGOMERY, AL (WBRC) – A report from Moody's Economy says that Alabama cities are showing strong progress in recovering from the nationwide recession.
Huntsville ranked 2nd nationally out of 287 metro areas in the United States in the "Employment Growth Rank" which measures the strength of a community's economy. Mobile, Auburn-Opelika, Montgomery, Birmingham-Hoover and Tuscaloosa all made the list in 4th, 23rd, 29th, 53rd and 61st places, respectively.
"This is a strong indication that pockets in Alabama's economy are growing and those areas will provide a positive impact on the economy of the entire state," said Neal Wade, director of the Alabama Development Office. "Other economic indicators also project that the state's economy will begin to recover late this year and into 2011 especially as we see major projects that were recruited several years ago begin to start up operations this year."
Governor Bob Riley said the report is another indication of how demand is building in Alabama's economy and another reason why the Legislature needs to act quickly to pass job-growth legislation so that the job market can meet that demand.
"We're beginning to see evidence that Alabama's economy is improving and this report validates that," said Governor Riley. "Alabama is ripe for economic development, but we must make sure economic growth translates into job growth. To do that, we need to pass our jobs bill and give more small and medium-sized businesses an incentive to hire."