Port Credit
The Port Credit from the Alabama Department of Commerce incentivizes increased cargo shipments through state ports, supporting research and innovation in logistics and supply chain operations.
Funder: Alabama Department of Commerce
Due Dates: Rolling (Applications accepted year-round)
Funding Amounts: One-time state income tax credit; amount based on increase in cargo shipped through Alabama public ports; can be carried forward for 5 years.
Summary: State tax incentive for businesses increasing cargo shipments through Alabama’s public ports, supporting job creation and capital investment.
Key Information: Must use a publicly owned Alabama port; approval required from the Renewal of Alabama Commission.
Description
The Port Credit is an Alabama state income tax incentive designed to stimulate economic growth by rewarding companies that increase their cargo shipments through publicly owned Alabama ports. Administered by the Alabama Department of Commerce, this one-time tax credit targets businesses involved in manufacturing, warehousing, or distribution. The credit is calculated based on the percentage increase in cargo volume above a set baseline, with additional enhanced benefits for new warehouse or distribution facilities making significant investments and creating new jobs. The primary goal is to encourage new job creation, capital investment, and increased shipping activity, thereby supporting the logistics and shipping sectors across Alabama.
