The Joint Legislative Advisory Committee on Economic Incentives has recommended that a Conservative-leaning public policy think tank based out of California, the Hoover Institution, to conduct a study on the effectiveness of Alabama’s economic development incentives.
The study will aim to calculate the rate of return on various incentive programs used by the Alabama Department of Commerce with the goal of attracting new jobs and companies to Alabama.
Sen. Garlan Gudger (R-Cullman) led a subcommittee which chose the Hoover Institution for the study. The organization’s choice was made for a variety of advantages including cost, which was significantly more advantageous than the other agencies considered.
“Transparency is the foundation of responsible economic development, and taxpayers deserve clarity and accountability in how their hard-earned dollars are invested,” said Gudger. “By entrusting third-party verification through the Hoover Institution, we not only ensure a verifiable return on investment but also uphold the public trust in our economic development incentives.
“The Hoover Institution has a pre-existing, solid working relationship with the Department of Commerce, and Director (Condoleezza) Rice has been a trusted friend to the state through Innovate Alabama — each brings extensive experience and a renowned reputation. This partnership prioritizes transparency in our state and sets the stage for more success in Alabama’s economic development future.”
Michael Brauner is a Senior Sports Analyst and Contributing Writer for Yellowhammer News. You can follow him on Twitter @MBraunerWNSP
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