Companies from 17 countries directly invested a total of nearly $3.5 billion in capital projects and nearly 3,800 new jobs in Alabama throughout 2024, according to a recent report from the state.

Nearly half of that total investment came from India alone — for just one project.

The expansion of the Novelis aluminum production plant in Bay Minette was valued at $1.6 billion, according to the New & Expanding Industry Announcements report released by the Alabama Department of Commerce on Monday.

“We are positioning Alabama for long-term success in an increasingly competitive global economy,” Gov. Kay Ivey said. “We are ready to embrace new challenges, seize emerging opportunities, and ensure that Alabama remains a top destination for world-class companies.”

Companies from Australia, South Korea, Japan and Mexico were among the state’s other top foreign direct investors from 2024.

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Companies from South Korea invested in by far the most total projects — 15 throughout the year. Nearly all those projects were for the automotive industry, and they spanned four Alabama counties: Lee, Macon, Chambers and Montgomery, per the report.

Meanwhile, Australian companies created the most new jobs: More than 2,300, per the report. That’s far beyond the other projects, which each created between 10 and 574 jobs. Three of Australia’s four projects were expanded sites in Mobile County — the county that claimed the highest number of new jobs last year. Australian defense company and drone producer Boresight also set up its U.S. headquarters in Huntsville.

Companies from six countries, including India, didn’t list new jobs in the report.

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