Alabama needs jobs. Good paying jobs with reputable industries. In Huntsville, our economic development teams have worked successfully in the past five years to bring in 16,000 new jobs and nearly $2 billion in capital investment with top companies like Polaris, GE Aviation, Boeing, Toyota and Remington. There are more jobs and businesses looking at Huntsville and Alabama – but the stakes are getting higher and the competition is becoming tougher.
That’s why we are asking Alabama voters to support Amendment 11 on the upcoming November ballot. This constitutional amendment modifies the 21st Century Manufacturing Zone Act and gives Alabama a powerful new recruitment tool to bring quality good-paying jobs to citizens.
Here’s how it works.
If an industry will invest at least $100 million on a site larger than 250 contiguous acres – a big site – local governments will be able to create a Tax Increment Financing Zone (TIF). Any incentives used to secure the industry will be repaid by the revenues generated from increased property values within the zone, above and beyond what is presently generated. In a nutshell – the industry pays for its own incentives over time, without sacrificing current tax revenues generated for roads, schools, and public safety. It’s a win-win for taxpayers, citizens, and industry.
There are more than 80 industrial sites across the state that could potentially benefit from this new constitutional amendment. The state legislature recognized the powerful possibilities and unanimously approved the 21st Century Manufacturing Zone Act in the house and senate, paving the way for your approval. It’s about jobs, prosperity, and a bright future for Alabamians.
Help us bring thousands of good paying jobs to Alabama by voting “YES” on Amendment 11 when you head to the polls on November 8.