Ivey signs AL Jobs Act extension, praises Montgomery for growth - WSFA.com Montgomery Alabama news.

Ivey signs AL Jobs Act extension, praises Montgomery for growth and expansion

(Source: WSFA 12 News) (Source: WSFA 12 News)
(Source: WSFA 12 News) (Source: WSFA 12 News)
MONTGOMERY, AL (WSFA) -

With the stroke of a pen, Gov. Kay Ivey put Alabama in a better financial position to lure more businesses to the state.

The governor signed off on House Bill 574 Thursday which will continue to extend the Alabama Jobs Act. The act simply increases the incentives package that the state often uses to lure businesses to Alabama. The bill sets a 300-million-dollar cap on incentives, according to lawmakers.

City of Montgomery leaders joined lawmakers and Ivey for the signing. Ivey praised the city for its economic growth and expansion of jobs.

In the 2016 new and expanding industries report, released by the Alabama Department of Commerce, Montgomery led every other country in the state for announced jobs by new and expanding industries. City leaders say the report also ranked the city first in announced jobs and second in terms of economic development projects. The city was also ranked fourth for new capital investments.

According to the Alabama Department of Commerce, existing and new companies created a little more than 1,700 jobs in Montgomery in 2016. Madison County came in second with 1,500. Last year, a total of 42 economic development projects. New capital investments generated $371 million. 

"Local communities depend on the Alabama Department of Commerce and the Governor to be our lead partners in economic development for the vital role they play in recruiting and retaining industries. These results show that the partnership is working," said Strange. 

“We depend on the Chamber to be the economic development arm of the County and the City,” Commission Chairman Elton Dean said. “When we speak here, we speak with one voice and these announced new and expanding companies see the tremendous value in that.”  

Chamber Chairman David Reed said he believes the chamber’s economic development strategy to diversify the regional economy and recruit and retain talent played a major role in the rankings.

“You are seeing the results of a great public-private team, that is committed to creating jobs and opportunities for Montgomery and the River Region. Integral to that effort is our invaluable partnership with the Alabama Department of Commerce and we look forward to continued success with the support of Governor Ivey, a long-time champion for jobs in Alabama,” said Reed. 

According to Ivey, the state is currently chasing more than 11,000 potential new jobs.

Copyright 2017 WSFA 12 News. All rights reserved.

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