Tag: Incentives

New Incentives Law Targets Rural and Struggling Urban Areas

MONTGOMERY — A recently-passed bill aimed to spur job growth in rural and urban areas of the state has been signed into law by Gov. Kay Ivey.

Sponsored by Rep. Bill Poole, R-Tuscaloosa, House Bill 540, dubbed the Alabama Incentives Modernization Act, is a set of tax incentives designed to enhance development in counties that are experiencing slow economic conditions and to help bring new technology companies to the state. Proponents of the legislation say it enhances current incentives, encourages investments in designated opportunity zones and offers a capital gains tax cut for tech companies moving to Alabama. Read more.

Would You Be My Neighbor? Jefferson County Mayors Answer ‘Yes’ as They Sign Pledge Not to Poach Business

Trafford Mayor Greg Rogers wasn’t present in the Jefferson County Commission chambers this morning but the spirit of TV’s Mister Rogers was as 22 Jefferson County mayors signed the Good Neighbor Pledge.

The pact discourages poaching between cities in the county. Each city represented in the agreement pledges not to recruit business from another city within the county.

“Under the voluntary agreement, we as mayors promise we will not lure businesses away from other cities in Jefferson County through solicitation or incentives,” Birmingham Mayor Randall Woodfin said. “I’m convinced the Good Neighbor Pledge will lay a better foundation for our cities’ future … all of us within the county.”

Woodfin said not having a pledge such as the one signed today put Birmingham at risk of losing small businesses, including shops, grocery stores and restaurants.

“When a business closes in one city and moves to a neighboring city, we’re not creating new jobs, we’re not creating opportunities,” the Birmingham mayor continued. “We’re just shuffling them around.” Read more.