ANNOUNCEMENT 17 May 2017
The new law prolongs and expands an incentive law that has been in effect since 2015.
NUMBER OF INTERVENTIONS
The Alabama Jobs Act originally entered into effect on July 3, 2015, providing incentives to certain businesses. On May 17, 2017 the governor of Alabama signed into law a new bill (HB574) that exempts megaprojects from the $850 million cap on incentives. It defines a megaproject to be “Any qualifying project which creates at least 500 employee positions, at least eighty percent of which shall be full time, or which makes a capital investment of $100 million or greater, at a single site.”