Alabama

Economic policy

Alabama seeks to attract out-of-state business by means of tax incentives and plant-building assistance. The Alabama Development Office (ADO) plans for economic growth through industrial development. It also extends loans, issues bonds, and offers other forms of financing to growing companies, to firms that create permanent jobs, and to small businesses. The International Trade Division of the ADO provides a variety of service to help Alabama companies export, and in 2002 sponsored trade mission to Mexico and Costa Rica. In 1987 The Alabama Enterprise Zone Program was passed. As of 2003, 27 Enterprise Zones had been authorized across the state in areas considered to have depressed economies, each zone offering packages of local tax and nontax incentives to encourage business to local in the area. The Alabama Industrial Development Training Institute, within the Department of Education, provides job training especially designed to suit the needs of high technology industries. Alabama offers zero-interest loans and grants to rural economic development projects. In an effort to attract new industries or help existing companies grow, the state helps counties and municipalities pay for site improvements, and assists communities in financing infrastructures such as water and sewer lines or access roads. The Alabama Commerce Commission promotes legislation that protects and nurtures the Alabaman economy, including infrastructural projects on the state's roads, bridges and docks. In 2000, the Alabama Commission on Environmental Initiatives was created by executive order charged with setting a program for improving the environmental quality of the state. In 2002, a Brownfields Redevelopment Program was introduced.