Poole, Reed file legislation to set up Alabama Innovation Corporation

Poole, Reed file legislation to set up Alabama Innovation Corporation

By WILL WHATLEY, Alabama Daily News

MONTGOMERY, Ala. – Last week, legislation was introduced that is intended to boost entrepreneurship in the state.

Sponsored by Rep. Bill Poole, R-Tuscaloosa, House Bill 540 would establish the Alabama Innovation Corporation. The Alabama Innovation Commission proposed the corporation as part of its interim recommendations on strategies that will help the state spur innovation and support talent attractions and retention.

“This is a crucial step forward for the state of Alabama,” said Poole, who also chairs the Alabama Innovation Commission. “As a result of the great work being produced by the Alabama Innovation Commission, the Alabama Innovation Corporation will launch the state forward as a true competitor in a 21st century economy.”

“Alabama has been at the forefront of innovation for years and this is the latest example of how the state continues to develop solutions that will drive our economy forward,” said Senate Pro Tem Sen. Greg Reed, R-Jasper. Reed also serves as Vice-Chair of the Alabama Innovation Commission. “The establishment of the Alabama Innovation Corporation will assist in our efforts to foster a more inclusive, robust and resilient economy across the state. I look forward to collaborating with my colleagues in the legislature to pass this impactful legislation.”

The bill is also supported by Commerce Secretary Greg Canfield, Gov. Kay Ivey’s top economic developer.

“HB 540 is the latest example of the meaningful, forward-thinking work being accomplished by the Alabama Innovation Commission,” said Greg Canfield, Secretary, Alabama Department of Commerce and Commission Advisory Council member. “This legislation would advance our economy in meaningful ways, creating more technology-based jobs and growth opportunities in all corners of the state.”