Investment Credit
The Alabama Department of Commerce's Investment Credit supports science, research, and technology projects with annual tax credits for qualifying capital investments.
Funder: Alabama Department of Commerce
Due Dates: Rolling (Applications accepted year-round)
Funding Amounts: Up to 1.5% of qualified capital investment annually for up to 10 years (15 years in Targeted/Jumpstart Counties); applied as an Alabama tax credit.
Summary: Annual Alabama tax credit for companies making capital investments in qualifying projects, supporting job creation and economic growth.
Key Information: Commitment of local incentives and formal approval by the Governor and Finance Director required.
Description
The Investment Credit, administered by the Alabama Department of Commerce under the Alabama Jobs Act, is a tax incentive program designed to encourage capital investment in qualifying business projects across Alabama. Eligible companies can receive an annual tax credit of up to 1.5% of their qualified capital investment for up to 10 years, or up to 15 years for projects in Targeted or Jumpstart Counties. The credit can be applied to various Alabama tax liabilities, including income, financial institution excise, insurance premium, utility, and utility license taxes. This program aims to promote job creation and economic growth and is subject to a formal review and approval process.
