BY QUENTIN SMITH ·

TEXT BY CARY ESTES 

February 2016

 

When Alabama reached into its economic incentive toolbox in the early 1990s, the state pulled out a hammer. On the strength of an incentives package worth nearly $240 million, Alabama surprised most observers by becoming the site of the first Mercedes-Benz automobile assembly plant in the United States.

Two decades later, however, Alabama's incentive toolbox looked largely the same, while many of the neighboring states in the Southeast had come up with bigger and stronger hammers. So after several years of planning, the 2015 state Legislature approved new economic development incentives designed to keep Alabama competitive when it comes to attracting and maintaining businesses.

"For years, Alabama was one of the most competitive states in the country, particularly in the Southeast," says Rick Davis, senior vice president of economic development for the Birmingham Business Alliance. "What's happened is, our sister states haven't been sitting back watching us win without doing something about it. They've gotten more competitive as the years have gone along. So we had to get stronger."

At the same time, they want to promote the fact the organization is much more than a business incubator. That's why center officials are interested in changing the name of the nearly 25-year-old entity.