Economic Development

The Huntsville/Madison County Chamber serves as the catalyst for economic development in our community through project management, national and international recruiting, and existing industry support.

 
 
Home > 2024 Annual Report > 2024 Annual Report: Economic Development

2024 New & Expanding Industry

Huntsville/Madison County saw growth last year for both new and existing companies across our targeted industry sectors of Aerospace & Defense, High-Tech Manufacturing, Information Systems & Security, Life Sciences, Corporate and Regional Headquarters, and Music.

1,192 new jobs

$598,680,000 in capital investment

2024 New Industry Highlights

ed-boresight
ed-skyfire
ed-shape
ed-tql
crp-dt-spacefactory
ed-glaukos
Shape Corp. officially opened its second location in Alabama and 50th Anniversary, 5332 Endeavor Way in Southpoint Industrial Park, June 26

Shape Corp. celebrated the opening of its second location in Alabama and its 50th Anniversary! This location is at 5332 Endeavor Way in Southpoint Industrial Park, in the Huntsville portion of Limestone County. The event was held on June 26.

Skyfire Consulting, the trusted and experienced public safety UAS consulting group, announced its relocation from Atlanta to Huntsville on June 25

Skyfire Consulting, the trusted and experienced public safety UAS consulting group, announced its relocation from Atlanta to Huntsville on June 25. It will be on the grounds of the Rise DFR (Dront First Responder) Village, located near Huntsville International Airport.

On Nov. 5, SpaceFactory, a pioneer in space and terrestrial construction technology, announced its relocation to Huntsville.

On Nov. 5, SpaceFactory, a pioneer in space and terrestrial construction technology, announced its relocation to Huntsville. It will build a new facility at 209 Bailes St., near Campus 805.

2024 Expanding Industry Highlights

ed-raytheon
ed-lockheed
ed-toyota
ed-auburn-research

Regional Growth

The Huntsville/Madison County job market draws talent from a 16-county labor shed that has grown significantly over the past five years. Estimates for 2024 show 54 people a day moving into the region.

2023 Population for 16-county labor shed: 1,356,073

(includes Alabama counties: Madison, Limestone, Morgan, Jackson, Marshall, Lawrence, Lauderdale, Colbert, Cullman, DeKalb, Franklin, Marion, & Winston; and Tennessee counties: Lincoln, Giles, & Franklin)

2023 Employment: 614,628

  • Regional employment and population both grew 8% over the past five years
  • Average annual population growth over the past five years: 20,043

Media Accolades

2024 Outreach

  • National Space Symposium, Colorado Springs CO (April 8-11)
  • Farnborough Air Show, London (July 20-24)
  • Space & Missile Defense Symposium, Huntsville AL (August 6-8)
  • Americana Fest, Nashville TN (September 18-20)
National Space Symposium, Colorado Springs CO (April 8-11)

National Space Symposium, Colorado Springs CO (April 8-11)

National Space Symposium, Colorado Springs CO (April 8-11)

National Space Symposium, Colorado Springs CO (April 8-11)

Farnborough Air Show, London (July 20-24)

Farnborough Air Show, London (July 20-24)

Space & Missile Defense Symposium, Huntsville AL (August 6-8)

Space & Missile Defense Symposium, Huntsville, AL (August 6-8)

Space & Missile Defense Symposium, Huntsville AL (August 6-8)

Space & Missile Defense Symposium, Huntsville AL (August 6-8)

Americana Fest, Nashville TN (September 18-20)

Americana Fest, Nashville TN (September 18-20)

 
2024 Annual Report: Economic Development