It’s no surprise that many companies are either expanding or relocating to the Huntsville area. Between the cost of living, community and growth, families are moving into our city located in Sweet Home Alabama. So what companies are doing just that and how does this affect the housing market?
Companies Relocating to Huntsville
Creating up to 4,000 new jobs here in Huntsville, the Mazda Toyota plant has invested $2.3 billion to open the new plant. It was just released that this Huntsville plant will be manufacturing the all-new Corolla Cross with the capacity to build 300,000 vehicles each year.
With a total investment of over $1 billion dollars, Facebook has decided to join the Rocket City tech industry. They are developing multiple buildings for their data center, which will increase the amount of jobs available in the Huntsville market. Although, it is not known how many that will be yet, construction is under way to be completed in 2024.
Conveniently located right next to the Mazda Toyota Manufacturing Plant, the newest Amazon Fulfillment Center will provide up to 500 jobs. Not only will Amazon continue to provide competitive benefits and pay, it will boost a state of the art one million square foot warehouse where employees will pick, pack, and ship bulk sized items such as outdoor furniture, rugs, and more.
TPG offers customer service solutions for Fortune 1000 companies. Huntsville gladly welcomes their professional services as they relocate their headquarters from Omaha, Nebraska to create over 200 jobs in the Huntsville job market.
While it is not yet official, Huntsville was proud to be chosen for the upcoming US Space Command Center. If the US Space Command decides to call Rocket City home, operations will include enabling satellite-based navigation, troop communication, and providing warning of missile launches. The plan will be to host them in the Redstone Arsenal until a permanent facility is constructed.
Companies Expanding in Huntsville
Opening its doors in Huntsville in 2008, HudsonAlpha plans to build two new facilities. One for their global headquarters for Discovery Life Sciences and ag new state of the art laboratory and greenhouse space for HudsonAlpha’s Center for Plant Science and Sustainable Agriculture. Located in Cummings Research Park, these new developments are huge for economic development here in the Northern Alabama region.
With an expected completion date of April 2022, CFD Research’s new facility in Cummings Research Park will support drug discovery and development, regenerative medicine, biomedical and clinical diagnostics, human performance, and power generation and energy storage technologies. The company has marked other expansions this year as well in Jackson County, Alabama creating news jobs all throughout the Northern Alabama region.
Matsu Alabama, Inc. continues to expand throughout the years here in Huntsville. In the latest news release, stated that they plan on investing $8.5 million dollars for a new facility that will add at least 10 jobs to their existing 217 full time employees. This new expansion will include new and upgraded equipment to scale up production for their increase in customer needs.
Why Are These Companies Expanding and Relocating to Huntsville?
Kandi Wright, our Director of Referrals and Relocation , states that, “Mayor Battle and our city officials are second to none when it comes to intelligently growing our economy and workforce. It’s easy to see their passion for strategic growth and sustainability. Not only does Huntsville offer affordability and accessibility to company’s, it offers a place their employees want to live. Our cost of living is lower, taxes are lower, we have top rated medical services and education in both the public and private sectors, we have green space and season changes, and so many ways to get connected into the community. Plus, the people here are pretty nice, too! The question is, what doesn’t Huntsville have to offer?”
What Does This Mean for the Huntsville Real Estate Market?
While company expansions are great for Huntsville’s economic development we also see major impacts in the housing market as these new job opportunities also have potential for new families in the area. “Like many cities across the country we’re experiencing a shortage of homes to accommodate the high demand of newcomers. Our construction industry is booming. Builders are building as fast as they can and still have clients on a wait list. We’re seeing multiple offers on homes for thousands of dollars over asking price. When talking with other relocation directors across the country, I’m hearing the same thing happening in their markets,” according to Kandi Wright, our Director of Referrals and Relocation . So while we are excited to see Huntsville continuing to grow, it’s important for newcomers to understand the current housing market. Working with a real estate team you can trust and advocate for your needs is crucial to find the home of your dreams in today’s housing market.
Here at Amanda Howard Sotheby’s International Realty we are excited to welcome these companies and new families into the Northern Alabama area. If you are looking to relocate or find a new home, trust in us to serve as your Huntsville area experts. We have the resources and people to guide you through the home buying or selling process. Check out our Rocket City Life Relocation Guide today to find out more!