Under Act #2023-33, which Gov. Ivey signed into law in April 2023, the Alabama Department of Commerce has transferred a new tax credit program to Innovate Alabama, the Innovate Alabama Tax Credit. The program will support tech accelerators and underrepresented companies, both of which are aligned with Innovate Alabama’s mission of helping innovators grow roots in the state.

Applications will be accepted on a rolling basis and reviewed periodically through the remainder of the year. The first deadline for applications is Friday, June 16, and applications for the first round will be submitted for approval during the next Innovate Alabama board meeting on Tuesday, June 27.

Please direct any questions on the Innovate Alabama Tax Credit Program to incentives@innovatealabama.org.