51 Alabama Business Stats & Facts For 2025

Here are 51 business stats about Alabama for 2025.

Basics:

Population: 5,108,468 (US Census 2020)
Population desnity per square mile: 99.20
GDP: $300,152 (millions USD)
GDP Per Capita: $59,174
Median household income (in 2022 dollars): $59,609
Real GDP Growth Rate: 2.5%
Total Employment: 2.2m
Unemployment Rate: 2.2%

Rankings

% Share of National Economy: 1.10%
State Economic Growth Rank (out of 50): 27
Population Growth Rank (out of 50): 12
Business Growth Rank (out of 50): 19
State Growth Rank in Employment (out of 50): 24

Biggest Industries In Alabama By Revenue

1. Automobile & Light Duty Motor Vehicle Manufacturing: $30.2b
2. Drug, Cosmetic & Toiletry Wholesaling: $29.4b
3. Hospitals: $16.3b
4. New Car Dealers: $14.1b
5. Commercial Banking: $13.3b
6. Electric Power Transmission: $12.2b
7. Gas Stations with Convenience Stores: $12.0b
8. Health & Medical Insurance: $11.1b
9. Engineering Services: $10.0b
10. Pharmacies & Drug Stores: $9.9b

Biggest Employers In Alabama

1. Redstone Arsenal: 44,000 (2.0%)
2. Walmart: 41,348 (1.9%)
3. University Of Alabama At Birmingham: 25,161 (1.2%)
4. Huntsville Hospital: 18,000 (0.8%)
5. Maxwell Airforce Base: 12,700 (0.6%)
6. United States Postal Service: 9,774 (0.5%)
7. Auburn University: 9,207 (0.4%)
8. Amazon.Com: 9,200 (0.4%)
9. Mobile County Public School: 7,200 (0.3%)
10. Home Depot, inc.: 6,139 (0.3%)

Small Businesses In Alabama

Number of Small Businesses 422,586
Percent of bossiness that are small businesses: 99.40%
Number of employees: 818,235
Share of Employment: 46.00%
Number of New Businesses In The Past Year: 15,298
Number of Businesses That Closed In The Past Year: 9,782
Net Change In New Businesses: 5,516

Number of Businesses With No Employees: 350,480
Number of Businesses with 1-19 Employees: 62,272
Number of Businesses with 20-499 Employees: 9,834
Share of Businesses Owned By Women: 44.10%
Share of Businesses Owned By Veterans: 8.50%
Share of Hispanic Owned Businesses: 3.10%
Share of Businesses Owned By Racial Minorities: 23.00%

Fortune 500 Companies In Alabama

Number of Fortune 500 Headquaters: 2
Biggest Company: Regions Financial
Biggest Company Type: Commercial Banks
Number of Employees: 20,073
Revenue (in millions): $7,531

Taxes In Alabama

State Corporate Tax Rate: 6.50%
State Corporate Tax Rate Brackets: 0%

State Sales Tax Rate: 4.00%
State Sales Tax Rank (out of 50): 40
Average Local Sales Tax Rate: 5.29%
Max Local Sales Tax Rate: 7.50%
Average Combined Sales Tax Rate: 9.29%
Combined Sales Tax Rank (out of 50): 5

Minimum State Income Tax Rate If You’re Single: 2.00%
Minimum State Income Tax Rate If You’re Married: 2.00%

General Alabama Population Facts

In civilian labor force, total, percent of population age 16 years+: 57.60%
In civilian labor force, female, percent of population age 16 years+: 52.80%
Share of population which is foreign born: 3.50%
Mean travel time to work (minutes), workers age 16 years+: 25.30

Housing

Number of Housing Units: 2,360,135
Owner-occupied housing unit rate: 69.70%
Median value of owner-occupied housing units: $179,400
Median gross rent per month: $925
Households with a computer: 91.10%
Households with a broadband Internet subscription: 83.80%

Education

High school graduate or higher, percent of persons age 25 years+: 87.70%
Bachelor’s degree or higher, percent of persons age 25 years+: 27.20%

Also See

• Alabama Registered Agent Services
• Alabama Secretary of State Business Search
• How To Form an LLC In Alabama
• Alabama Bookkeepers & Bookkeeping Services

Sources

• https://en.wikipedia.org/wiki/List_of_U.S._states_and_territories_by_GDP
• https://en.wikipedia.org/wiki/Economy_of_Alabama
• https://www.ibisworld.com/united-states/economic-profiles/alabama/
• https://taxfoundation.org/data/all/state/2024-sales-taxes/
• https://taxfoundation.org/data/all/state/state-corporate-income-tax-rates-brackets-2024/
• https://taxfoundation.org/data/all/state/state-income-tax-rates-2024/
• https://advocacy.sba.gov/2023/11/14/2023-small-business-profiles-for-the-states-territories-and-nation/
• https://advocacy.sba.gov/wp-content/uploads/2023/11/2023-Small-Business-Economic-Profile-AL.pdf
• https://www.bls.gov/eag/
• https://www.bls.gov/regions/southeast/alabama.htm#eag
• https://www.census.gov/quickfacts/fact/table/AL,US/PST045223
• https://www.50pros.com/fortune500