Gov. Kay Ivey and leaders in the Alabama Legislature announced four bills to renew and expand the laws the state uses to attract industry and jobs.
Apr. 03, 2023, 5:55 p.m.Gov. Kay Ivey and Alabama officials announce a 'Game Plan' of economic incentives at Montgomery Riverwalk Stadium. From left, Commerce Secretary Greg Canfield, Senate Minority Leader Bobby Singleton, Senate Majority Leader Greg Reed, Ivey, House Speaker Nathaniel Ledbetter, House Minority Leader Anthony Daniels, and Lt. Gov. Will Ainsworth. Gov.
Two of the state’s tax incentive laws are scheduled to expire at the end of July. The Jobs Act provides rebates to companies that have project agreements with the state. The rebates are based on a percentage of the previous year’s payroll. The Jobs Act also provides tax credits based on a percentage of capital investments. The other law that expires is the Growing Alabama Act, which provides tax credits for donations to economic development organizations.
The second bill is called the Site Evaluation and Economic Development Strategy Act, or SEEDS Act. It would allow the State Industrial Development Authority to issue grants to support the development of industry-ready sites.
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