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Limestone County’s economic leaders are showing their support for an amendment they feel will make Alabama more competitive in terms of attracting new industries.
The Limestone County Economic Development Association’s board of directors passed a resolution Thursday in support of Amendment 2, which will appear on the Nov. 6 General Election ballot.
“The passage of Amendment Two will ensure that Alabama can continue to compete for new jobs,” said a press release from the group. “Amendment Two will correct technical language regarding the refinancing of bonds by allowing the savings from lower interest rates to be used to recruit new industry and encourage existing industry expansions.”
The release said the amendment will ensure the state stays competitive for economic development projects by ensuring incentive funds are available. The group also points out the amendment is not a tax.
“It protects taxpayers because the bonds will be paid for by money from royalties paid to the state from oil and gas companies operating in state waters on Alabama’s coast,” the release said.
Local News
Limestone economic group throws support behind Amendment 2
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