MONTGOMERY, AL (WSFA) - The legislature gave final approval Thursday to the "Made in Alabama" Job Incentives Act. The bill would allow for the use of tax incentives to recruit international companies to Alabama.
"There are no party labels when it comes to creating jobs," said Representative Barry Mask R-Wetumpka), who chairs the House Economic Development and Tourism Committee. "I'm proud to sponsor this bill with Senator Marc Keahey (D-Grove Hill) because I believe it will allow Alabama to do something truly significant in economic development."
The bill comes as a result of the Tariff Act of 1930. That act allows the federal government to impose duties on imported products. That, in turn, increases the cost of those imported products to American customers.
"Made in Alabama" seeks to reduce the upstart costs for those companies as they try to establish a manufacturing base in the United States.
"Attracting new businesses that will create jobs and spark economic growth is our first priority," Senator Keahey said. "This bill sends a message to companies around the world that Alabama is open for business."
The "Made in Alabama" Job Incentives Act gives Alabama's Governor and the Alabama Development Office the power offer qualifying companies a transferable income tax credit to offset tariff costs as an incentive to create jobs in Alabama.