Economic Development: How We Affect the “BIG PICTURE”
What is our role in the Birmingham Comprehensive Plan?
- Economic Development is specifically geared toward recruiting new businesses, retaining existing business, assisting with business expansions, and revitalizing every community in all nine districts throughout the City of Birmingham, with a special emphasis on underserved communities.
- Key among Economic Development’s goals and objectives in the Birmingham Comprehensive Plan is to identify communities where economic changes would dramatically and positively impact the quality of life for the residents of these neighborhoods; and implementing recruiting efforts to bring viable businesses to those neighborhoods.
What We Can Do?
- By partnering with corporate and community stakeholders on collaborative efforts to invest in underserved communities. This objective will allow the City not only to encourage, but leverage corporate dollars in support of community-based programs, businesses and initiatives.
- By identifying Business Incentives for qualified firms, Development Loan Programs that provide access to capital funding, and Business Assistance Tools which offer entrepreneurial training, our intent is to encourage commercial developers to consider underserved communities for business expansion and new startup opportunities.
How Does This Work?
- These efforts will assist in sustaining our neighborhoods by providing needed services while making the small business community more viable. The city can assist current and aspiring entrepreneurs with a number of incentives and assistance programs, including:
- The Birmingham Business Development Loan
- Possible New Revenue Sharing
- City Owned Property
- Improvements to the Public Right-of-Way
- Alabama Constitutional Amendment 772
- Federal Historic Tax Credits
- State Historic Tax Credits
- Foreign Trade Zones
- Fast Track Permitting Assistance
What It Means To The Community?
- Economic Development’s initiatives for the Birmingham Comprehensive Plan serve as anchors to promote neighborhood revitalization through commercial and mixed-use development, and serve as a model to stimulate greater capital investment programs.
Why Does It Matter?
- The Mayor’s vision for the longevity and continued success of our city is to continue the development of our business sectors and strive towards the revitalization of every community in all nine Council Districts throughout our great city.
- It is imperative that we even the playing field. That every community is afforded the same opportunity for a better quality of life in this city.
- Working to implement this goal speaks directly to removing blight in the community; strengthening the community’s socioeconomic base; increasing community value; and generating steady growth in business revenue – which translates to increased services to maintain and improved the quality of life for our citizens.
Click here to view a copy of the Birmingham Comprehensive Plan.