MONTGOMERY, Ala. — The Alabama Public Service Commission (PSC) this week unanimously approved two small business incentives the three Republican commissioners believe will “strengthen and grow the Alabama economy by encouraging investments and creating jobs.”
The PSC is the state government body tasked with regulating utilities, so while economic incentives that go through the legislative branch typically focus on tax credits or abatements, the incentives passed by the PSC focus on the state’s largest provider of electricity, Alabama Power.
The two incentives, the Community Redevelopment Incentive (CRI) and the Economic Development Incentive (EDI), will benefit new and expanding Alabama Power customers, according to a press release by the PSC.
The CRI provides a one-year incentive for customers that establish a new account for an existing building that has been unoccupied for at least six months. The EDI provides a two-year incentive for new or expanding customers meeting criteria related to additional incremental load. Because these incentives will increase the number of Alabama Power customers, they will also put downward pressure on the rates of all customers.
The three members of the PSC each released statements following approval of the incentives.
PSC President Twinkle Andress Cavanaugh said, “Alabamians can rest assured that I will continue to do what I have done throughout my tenure at the Public Service Commission – fight for you and against the federal government’s relentless assault on our economy. President Reagan was right when he said, ‘Government is not the solution to our problem; government is the problem.’”
Commissioner Jeremy H. Oden said, “Small Business is a cornerstone to the American dream. One of my top priorities has always been to protect and promote small business and help provide every man or woman with the opportunity to achieve that dream. I was proud to vote today for incentives that will assist small business in today’s political climate.”
Commissioner Chris “Chip” Beeker, Jr. said, “The two incentives we approved today will benefit small business owners who take the risks necessary for job creation and retention. I am hopeful that our actions will work to counter the federal regulations that increasingly punish those individuals who serve as the backbone of our economy.”
Following the PSC vote, Alabama Power also announced the company has established a “Small Business Solutions” program, which gives their small commercial customers the opportunity to receive a refund on the deposit they paid to establish their initial business account. Alabama Power predicts the average rebates will be roughly $500, but as high as $1,000.
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— Cliff Sims (@Cliff_Sims) June 9, 2015
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