In July 2011, the Economic Development Alliance was created by Executive Order of Governor Robert Bentley. Over the next six months, Alliance members developed a comprehensive three-year strategic plan for economic development in the state. Through the course of that process, input was gathered from more than 1,200 Alabamians, including key officials and business leaders.
Three economic development drivers were identified, which form the basis for the plan:
- Recruitment: Programs that focus on the attraction of new business and industry
- Retention: Programs that focus on the retention and expansion of existing business and industry
- Renewal: Programs that focus on job creation through innovation, entrepreneurship, research and development, and commercialization
- Alabama Launchpad has been identified as the state’s commercialization vehicle under the renewal component.
An “other” category encompasses topics that transcend the three drivers:
- Rural development
- Alabama branding
- Downtown redevelopment programs and other initiatives
This approach will diversify the state’s economic development efforts. Tactics have been developed to grow each of the drivers, with a timeline and measurable objectives.
Members of the Alliance will continue to meet on a regular basis to manage and ensure implementation of the plan.