Establishes the Steel and Advanced Manufacturing Competitiveness Act to support Alabama's steel and manufacturing sectors.
The Steel and Advanced Manufacturing Competitiveness Act aims to bolster Alabama's steel and manufacturing industries by providing financial assistance, procurement preferences, and innovation incentives. It creates the Steel Industry Relief and Investment Grant Program to award grants to manufacturers facing trade disruptions. The act also establishes the Manufacturing Innovation and Modernization Tax Credit for investments in advanced machinery. Additionally, it mandates a preference for domestically produced steel in state infrastructure and construction contracts.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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