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 Alabama-based tech accelerators and innovative companies, both of which are aligned with Innovate Alabama’s mission of helping innovators grow roots in the state.
Applications for the Innovate Alabama Tax Credit Program opened on Thursday, May 25. A state EDO must submit a status letter to confirm eligibility with Innovate Alabama prior to applying. Please email your completed application and status letter to firstname.lastname@example.org.
Applications will be accepted on a rolling basis and reviewed periodically through the remainder of the year. The next deadline for applications is Friday, October 6, and applications for this round will be submitted for approval during the next Innovate Alabama board meeting on Tuesday, October 24.
Are you interested in learning more about Alabama’s innovation ecosystem or have an idea about how we can further innovation in the state?
We encourage you to share your questions, comments, or ideas with us here.