Alabama Report: Aerospace and Technology Provide Economic Optimism During RecessionAlabama is focusing on aerospace and technology projects to carry the state through the recession and automotive downturn. More |
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The Case for Infrastructure InvestmentOfficials in many U.S. locations are beginning to see the financial rewards of long-term investment in infrastructure — including attracting new business and potentially improving the national economy. More |
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Are Southern States Better Positioned for Technology Projects?A skilled, available work force, a favorable cost environment, the necessary infrastructure, and generous financial support have created a near-perfect environment for technology companies to thrive in the South. More |
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High-Tech Heats up the SouthLearn more about the projects programs incentives that make technology thrive in exclusive conversations with economic development officials from 14 Southern States. More |
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NEWS ITEMS
AROUND THE WEB
NEWS ITEMS
AROUND THE WEB
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LABOR FORCE: 2,767,600 (July 2006, seasonally adjusted)
RIGHT TO WORK: YesTRADITIONAL INDUSTRIES: Agriculture, forestry, metalworking, chemicals, machinery
EXPANDING INDUSTRIES: Transportation industries, information and biotechnology, research and development, aerospace, distribution and logistics, services, tourismCOLLEGE GRADUATES: (Age 25 and over) 29.5%
BASIC BUSINESS TAXES:Alabama Business Privilege Tax: Ranges from $0.25 to $1.75 for each $1,000 of net worth in Alabama; minimum privilege tax is $100; maximum is $15,000 per year, except for financial institutions, insurance companies, and public utilities, which have a maximum privilege tax liability of $3 million; and real estate investment trusts, which have a $500,000 cap. An electing family limited liability entity is capped at $500.
Entrance Fee (Secretary of State Qualification): Before transacting business in Alabama, a foreign corporation (corporation incorporated outside of Alabama) must file an application for certificate of authority with the Alabama Secretary of State along with a certified copy of the articles of incorporation and must pay a $175 qualification fee. In order to form a domestic corporation, the corporate name must first be reserved with the Alabama Secretary of State and articles of incorporation filed with the probate judge of the county in which the corporation has its initial registered office. The fees for filing articles of incorporation are $40 for the Alabama Secretary of State and $35 for the probate judge.Sales and Use Tax: 4 percent on gross proceeds of sales of tangible personal property and gross receipts of amusement businesses; 1.5 percent on manufacturing machinery and farm equipment; counties may impose additional tax.
Property Tax: State rate of 6.5 mills is based on 20 percent of fair market value of property not otherwise classified (including industrial); 10 percent of agricultural, forest, and residential property; 30 percent of fair market value of utility property; additional taxes levied by local jurisdictions. Inventories, goods-in-process, and pollution-control equipment are exempt from property tax. BUSINESS INCENTIVES
Industrial Development Grant
Site Preparation) Program
Industrial Access Program
Infrastructure Grant Program
Public Works and Facilities Grant
Regional Revolving Loan Funds
Appalachian Regional Commission Grants
Delta Regional Commission Grants
Industrial Development Bonds
Capital Tax Credit
Sales/Use Tax Abatements
Property Tax Abatements
Small Business Administration
504 Loans
Small Business Administration
7-A Program
REA Rural Economic Development Loan and Grant Program
Industrial Development Training Program
Gulf Opportunity Zone