On Tuesday morning, House Speaker Nathaniel Ledbetter addressed the Alabama Business Council, highlighting the various economic and workforce challenges the Alabama Legislature is tackling in the 2024 session, and how the state can achieve significant results. I shared what I've been up to.

Ledbetter (R-Rainsville), who is currently serving his second term as House speaker, said Alabama's economy is growing at a pace he has never seen in his lifetime.

“Alabama ranks second or third in auto manufacturing, fifth in agribusiness, fifth in shipbuilding, and first in civil aviation. Alabama is becoming one of the most research-driven states in the country. there is.”

“It’s amazing to me to visit all over the state and see what our businesses and companies are doing for not only Alabama but the entire world,” Ledbetter said. Told. “This is the new Alabama. There's no question in my mind about that.”

Related: Ledbetter: Alabama's historic economic growth and its underlying labor shortage

After sharing the measurable progress of the past decade, Ledbetter looked forward to the next decade and pointed to the SEEDS Act. This is part of the landmark 2023 Economic Development Package bill, which created a grant program to identify and develop sites as a regional function. Alabama's ability to recruit new industries and jobs; On Monday, Governor Kay Ivey announced the approval of more than $30 million in grants under SEEDs.

“I think what we've done in terms of employee incentives has certainly made a difference. The numbers prove that. We employ more than 75,000 people and have a workforce of 42 million We've invested dollars. That's a lot,” Ledbetter said.

“But I really believe the game plan package we passed last year is bigger than that. The SEEDS Act invests more than $30 million in industrial land improvements and growth in more than 27 counties across the state. “And these cities and counties are making the most of that money. So instead of a $30 million investment, they're getting almost a $70 million investment.”

Speaker Ledbetter predicts that Alabama will continue to see economic growth thanks to the incentives passed, but workforce-related challenges abound and the state will continue to see economic growth similar to the 2023 economic stimulus bill. He spoke in anticipation of the legislative approach.

RELATED: Expanding access to quality child care gains support among Alabama lawmakers and working families

“ah”ver 43% of people of working age just sit on the sidelines. I don't think it's easy to tell them they have to get up off the couch and go to work.–

“We offer incentive packages. I think one of them will be child care credits. And we're looking at more housing credits. I don't know how I can afford everything in one year. But I think that's something we have to continue to work on.–

Ledbetter believes child care programs and tax credits will help bring people back into the workforce.

“We will look into that in the future.”

Grayson Everett is the state and politics editor for Yellowhammer News. You can follow him on Twitter. @Grayson270.Â