By Kyle Peschler
From the September / October 2025 Issue
In early August 2025, Alabama Governor Kay Ivey signed into law a new expansion of the state’s entertainment tax incentive program, with the purpose of accelerating growth across the film, television, and music sectors. Senate Bill 177 updates the Entertainment Industry Incentive Act of 2009 by extending support to music productions, setting new goals, and establishing greater fiscal flexibility and oversight.
“Alabama has long been home to great storytelling and timeless music,” Gov. Ivey said. “With this expansion, we’re putting a modern spotlight on Alabama’s creative talent and helping our state compete for projects that bring good jobs, new investment, and a renewed sense of pride in our entertainment heritage.”
The new incentive structure for the Alabama Entertainment Office raises the annual cap to $22 million beginning in the Fiscal Year 2026, with $2 million specifically reserved for music albums. Unused incentives may now carry forward into the next fiscal year, up to $3 million.
“This legislation gives Alabama a sharper edge in attracting entertainment projects, especially in music and digital media,” said Ellen McNair, Secretary of the Alabama Department of Commerce. “We’re building the infrastructure, talent pipeline and policy framework needed to grow a sustainable creative economy right here at home.”
The Alabama Entertainment Office will oversee program administration, industry engagement, and continued efforts to cultivate homegrown talent across the state’s growing entertainment sectors.
Growing Allocations Drive Statewide Economy
More than $25.9 million in Growing Alabama funding has been allocated to support economic development projects across 15 communities, reinforcing the state’s commitment to long-term job creation and site readiness.
The Renewal of Alabama Commission allocations are part of the 2025 Growing Alabama program, which authorizes up to $26 million in funding this calendar year. Over 27% of this year’s allocations were awarded to targeted counties, a key focus area in the state’s strategic plan for stimulating growth in rural areas.
The projects supported through this year’s funding include critical site development and public infrastructure improvements designed to enhance the competitiveness of industrial parks and strategic assets statewide.
Takkion Takes Former Goodyear Site In Gadsden, AL
Phoenix Gadsden Industrial Investors LLC, an affiliate of the Milwaukee-based Phoenix Investors, LLC, reached a deal to lease the 29 million-square-foot former Goodyear Industrial site in Gadsden to Takkion, a renewable energy logistics company.
“This marks an important first step toward our goal of transforming the former Goodyear complex and securing a lease of this scale brings new life to the property,” said Kurt Jensen, Senior Vice President of Acquisitions and Leasing for Phoenix Investors.
“We understand that changes to a familiar property bring questions. Our goal is to be a responsible neighbor while putting the property back to productive use,” said Takkion President Pete Bierden. “As our drivers and crews work here, they’ll also be stopping for fuel, meals, and supplies in Gadsden—bringing added business to local shops and services.”
“The Gadsden-Etowah Industrial Development Authority has worked diligently with Phoenix since their purchase of the building to bring tenants to the property, and we’re proud to have this nationally known company located in Gadsden,” said David Hooks, Director of the Gadsden-Etowah IDA.
Shipbuilding Expands In Mobile County
Master Boat Builders Inc. will invest $7.8 million to modernize and expand its shipbuilding operations in Mobile County by adding a new fabrication shop and floating drydock. The expansion will create 85 new jobs, adding to Master Boat’s workforce of more than 300 workers and further contributes to Mobile County’s strength in shipbuilding and maritime services.
“This investment is about more than just expanding our ability to build more high-quality vessels. It underscores our commitment to increasing American shipbuilding capacity and we’re doing it right here along America’s Gulf Coast in Mobile County,” said Garrett Rice, President of Master Boat Builders. “By modernizing our facilities and growing our skilled workforce, we’re positioning our team to deliver critical vessels that support U.S. commerce and industry, all while training the next generation of American shipbuilders.”
“Mobile’s maritime industry continues to thrive, and Master Boat’s investment underscores our region’s leadership in shipbuilding,” said Bradley Byrne, Mobile Chamber President and CEO. “By creating new jobs, retaining existing ones and investing in workforce development, this project is a powerful example of how our business community is growing alongside our thriving port and maritime economy.”
Check out all the latest news related to Alabama economic development, corporate relocation, corporate expansion and site selection.
link