Incentives
The MDB team will assist your company with every phase of locating in the Birmingham - Hoover Metropolitan Area. This includes working with state and local officials to create a customized incentives package. Statutory incentives are offered to all qualifying companies. Non-statutory incentives are at the discretion of the local governing entity and are influenced by the number of new jobs created, capital investment and the overall economic impact of the project.
For operational savings, the Birmingham region offers:
- Annual corporate income tax credit up to 5% of a company's capital investment for 20 years for qualifying projects
- The abatement of the non-education portion of a company's ad valorem taxes
- The abatement of the non-education portion of a company's ad-valorem taxes on personal property for up to 10 years.
For easy cost effective start, the Birmingham region offers:
- The abatement of the non-education portion of a company's sales tax on the purchase of construction materials for new buildings
- The abatement of the non-education portion of a company's use tax on the purchase of manufacturing equipment
- A state site preparation grant program to reduce site development cost
- Personal assistance to secure all business, construction and environmental permits
- Temporary office space at below market rates with necessary business services
- A customized program for relocating executives and key personnel
- Various building occupancy alternatives, including purchase, lease and lease purchase options
- Assistance with a thorough evaluation of all finance options, including industrial revenue bonds which offer long-term financing at (or below) prime, as well as all other federal, state and private funding options.
Workforce Training
- Free employee recruiting, screening, and training to ensure the appropriate labor mix for a quick and productive start-up through AIDT