Ivey Signs Four Economic Growth Bills

Gov. Kay Ivey recently signed four economic growth bills she called “The Game Plan.” The package is designed to secure Alabama’s economic future into law and received overwhelming approval from the Legislature. Each bill focuses on economic development issues such as incentives, site development, small business support and transparency. First, the Enhancing Alabama’s Economic Progress Act renews the Alabama Jobs Act and the Growing Alabama program and extends their sunset dates to 2028, while adding strategic enhancements to increase their effectiveness. Second, the Site Evaluation and Economic Development Strategy Act will allow the State Industrial Development Authority to accelerate the development of industry-ready sites. Third, the Innovation and Small Business Act aims to supercharge growth in Alabama’s innovation economy and support underrepresented businesses and enterprises in rural areas, transforming the state into a hub for technology and innovation. Fourth, the Enhancing Transparency Act will amend the Jobs Act to require the Alabama Department of Commerce to publish certain incentivized project information on its website. Transparency around important information related to companies receiving incentives is to serve a valid public service and increase confidence in the process.