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Cynthia Crutchfield, CEO of Innovate Alabama, released the following statement regarding the unanimous passage of HB247, also known as the “Innovation and Small Business Act”, that includes three priorities championed by Innovate Alabama. The first initiative focuses on SBIR/STTR supplemental grant residency requirements and the second creates the Innovating Alabama tax credit program. The legislation also authorizes the Alabama Innovation Corporation to be known as Innovate Alabama.
“I’m thankful the State Legislature has unanimously passed these initiatives to help promote innovation and entrepreneurship in Alabama, and we are grateful for Governor Ivey’s work in championing this legislation for our state. Through these measures, we can enhance the process of recruiting new, innovative companies to Alabama and ensure that our underrepresented entrepreneurs have the resources they need to thrive. The Innovation and Small Business Act goes a long way to show the rest of the country that Alabama is open for business. Innovators who want to relocate to Alabama will have every opportunity to grow their businesses and families within our great state.” -Cynthia Crutchfield
About Innovate Alabama
Innovate Alabama is Alabama’s first statewide public-private partnership focused on entrepreneurship, technology and innovation with a mission to help innovators grow roots here in Alabama. Innovate Alabama was established to implement the initiatives and recommendations set forth in the Alabama Innovation Commission’s report, including smart policy solutions that will create a more resilient, inclusive and robust economy to remain competitive in a 21st-century world. With founding CEO Cynthia Crutchfield leading the charge, Innovate Alabama is also made up of a board of 11 innovation leaders appointed by Gov. Ivey, collaborating across sectors to advance industries, drive technology and facilitate an environment where innovation and entrepreneurship thrive. Learn more about Innovate Alabama at www.innovatealabama.org.
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