Alabama News Center — Growth Alliance supports Alabama Development Fund to supercharge economic development with no new taxes
By: Jerry Underwood
The Alabama Growth Alliance, a public-private partnership dedicated to advancing the state’s economic priorities, has endorsed the creation of the Alabama Development Fund to provide a source of sustainable funding for economic development without increasing taxes or cutting existing programs, Alabama Commerce Secretary Ellen McNair announced.
McNair said the Alabama Development Fund would allow the state to remain competitive by providing new funding for rural development, international business development offices, global marketing, new quality-of-place initiatives and infrastructure improvement programs without affecting the state budget.
The Alabama Growth Alliance, a panel of 15 leaders from the state’s public and private sectors led by Gov. Kay Ivey, voted Wednesday to support the Alabama Development Fund initiative, which requires action by the Legislature to become activated.
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