Montgomery's economy benefits from the numerous state and regional government agencies located in the city. The economy is also bolstered by the Maxwell Air Force Base, high-tech manufacturing, the Hyundai Motor Manufacturing plant and the public universities; Alabama State University and Auburn University-Montgomery. The city is also a prominent regional wholesale and distribution center for a wide variety of industries. In addition, Montgomery is a major processing center for crops including soybeans, cotton and peanuts.
The primary sectors for employment are the government, military, wholesale and retail trade, healthcare, agriculture, construction, finance and insurance, transportation, utilities, professional and business services, manufacturing, education and leisure and hospitality. Metal fabrication and lumber production also provide numerous jobs. Government agencies provide about 25% of the jobs in Montgomery and manufacturing provides about 8% of the positions. In addition, about 37% of the workforce is employed in management and professional positions.
Additional information of interest about Montgomery: During the daytime the population increases by about 17% due to workers commuting to Montgomery from the surrounding area. In 2008 the cost of living index for Montgomery was 83.5. The nation's average is 100. For residents over the age of 25 about 32% have a bachelor's or a higher degree. The average earnings in 2009 was $33,000. The city has an exceptionally low rate of worker and company unionization. Alabama passed the Right-to-Work act which means that employees cannot be forced to join a union.
The Montgomery Area Chamber of Commerce provides a variety of assistance to companies operating in and moving to the city. The chamber of commerce helps industries with expansion plans by offering a conduit to statutory incentives, utilities, employee selection and training and also site location infrastructure.
Shown below are the cities largest employers:
- Maxwell-Gunter Air Force Base
- The state of Alabama
- Montgomery Public Schools
- Baptist Health - Hospitals/clinics
- Hyundai Motor Manufacturing - Automobile manufacturing
- Alfa Insurance
- The City of Montgomery
- 754th Electronics Systems Group - Information technology firms
- Jackson Hospital & Clinic
- Rheem Water Heaters - Water heater manufacturing
- Regions Bank
- Koch Foods - Poultry processing
- U.S. Postal Service
- MOBIS Alabama, LLC - Cockpit & chassis modules, bumper assembly & service parts
- Colonial BancGroup
- Alabama State University
- Montgomery County
- Neptune Technology Group - Water meters and electronic reading systems manufacturing
- GKN Aerospace - Aircraft parts manufacturing
- Montgomery County Commission
- Alabama Power Company
- Webster Industries - Plastic freezer and garbage bags manufacturing
- US Foodservice
- Central Alabama Veterans' Health Care Sys., West Campus
- Auburn University Montgomery
Some of the primary business organizations associated with Mobile:
The Central Alabama Business Journal keeps up-to-date with the business activities in Montgomery.