HUNTSVILLE — The Alabama Big 10 Mayors have released their legislative agenda for the upcoming legislative session and economy is the top issue.
Number one on the list is to renew and expand the Alabama Jobs Act and the Growing Alabama Act. Both Huntsville Mayor Tommy Battle and Madison Mayor Paul Finley are part of the Alabama Big 10 Mayors group. The legislative regular session starts Tuesday.
“The state’s incentives have been a vital tool in our toolbox during our successful recruitment of multiple industrial developments in Huntsville,” said Battle. “We urge the Legislature to renew and expand this legislation which will allow for continued economic success in our area.”
The Alabama Jobs Act is a performance-based tax incentive that provides income credits for qualified businesses based on new job and investment creation. For the state to continue offering these incentives, the Jobs Act will have to be renewed in the upcoming session.
According to the Alabama Department of Commerce, since the program’s inception in 2015, the Alabama Jobs Act has generated commitments for more than $17 billion in capital investment and 34,000-plus jobs.
Madison Mayor Paul Finley said the Jobs Act and the Growing Alabama Act are essential to Alabama’s future.
“As we are working to attract new businesses and new jobs to our community these incentives programs are critical,” he said. “Renewing these acts enables city leaders to spur economic development, many times working side by side with our state economic development department, to grow our economies”
The Growing Alabama Act provides tax credits for contributions to economic development organizations.
The mayors’ support of the acts is also backed by the Alabama Joint Legislative Study Commission on Renewing Economic Development Incentives.
The commission recently completed a review of the Alabama Jobs Act and the Growing Alabama Act and recommended their re-authorization in the this regular session. The group was established by the Legislature in the 2022 session with the responsibility for reviewing existing economic incentives and making recommendations ahead of the 2023 session.
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