Greg Canfield Shares 2025 Economic Outlook with AL.com and Birmingham Business Journal
Greg Canfield recently provided insightful commentary on the economic outlook for Alabama in the coming year with both AL.com and Birmingham Business Journal. In both of the articles, Canfield emphasizes the state’s ongoing transformation and highlights the importance of staying competitive in an evolving global landscape.
In his discussion with AL.com, Greg reflects on the state's economic position and the challenges ahead. He highlights Alabama’s consistent ability to outperform other Southern states economically, thanks to its strategic focus on competitive sectors. Canfield points to several growth areas, such as data centers driven by IT and AI, biosciences, and med tech, all of which have the potential to fuel future economic development. However, he notes that Alabama must address infrastructure needs, particularly in energy capacity, to support such investments. Looking ahead, he anticipates a steady stream of opportunities in technology, logistics, and manufacturing, but warns that evolving climate policies, particularly in green technologies, and the shifting dynamics in international trade—especially between the U.S. and China—could impact future growth. Canfield also sees Alabama as a potential beneficiary of increased investment from Southeast Asia, as companies seek to expand into North America due to cost pressures and global trade shifts.
During his conversation with the Birmingham Business Journal, Greg forecasts more moderate economic growth for Alabama in 2025, with a specific focus on the previously mentioned logistics and warehousing, but also adding food production to the list. He expects continued demand in these sectors, particularly as manufacturers and retailers adjust supply chains to be closer to markets. He also highlights the importance of investments like the expansion of air cargo handling at Birmingham-Shuttlesworth Airport and the growth of temperature-controlled warehousing, which will support industries like agriculture. While Canfield is not expecting large foreign investments, he does foresee some continued interest from German companies in steel, metals, and chemicals, and possibly from Japan if its economy strengthens. He also mentions that rural Alabama will likely see more investment due to affordable land and its connectivity to key transportation routes. Canfield believes the state’s employment will remain steady overall, with rural areas poised to benefit more from new investments due to lower land costs and access to interstate, rail, and waterway infrastructure.
To read the full articles, visit the links below. Subscription needed for both.
