Industrial Development Grant Program

Alabama Industrial Development Authority

Program Type:

Grant

Eligible Geography:

Alabama

Summary:

The State Industrial Development Authority is authorized to sell bonds to make grants to pay for site preparation for land owned or possessed by lease. The objective of this program is to pay for site preparation for land owned or possessed by lease by eligible entities.

The maximum of grants cap at $150,000 for a project of capital costs with $10 million or greater. The State Industrial Development Authority (SIDA) is allowed to amend the Industrial Development Grant amounts based on availability of funds. Entities seeking an Industrial Development Grant or certain other incentives need to notify the Secretary of the Alabama Department of Commerce (the Secretary) of the general parameters of the Project.

Eligible Recipients:

For-Profit Business

Eligible Recipients Detail:

Eligible Purpose:

Building Connectivity; Last Mile Connectivity; Broadband Deployment Planning/Feasibility Studies

Eligible Purpose Detail:

Grants are available for accessing, excavating, surveying, clearing and grubbing, and draining the site, providing reasonable rehabilitation of buildings and other structures, and other necessary and appropriate site preparation.

Other Eligibility Criteria:

In order to be eligible for an industrial development grant, the activity occupying the project site must be a Qualifying Project. Qualifying Project is defined as: A project to be sponsored or undertaken by one or more investing companies (i) at which the predominant trade or business activity conducted will constitute industrial, warehousing, or research activities, or (ii) which qualifies as a headquarters facility. The size of the grant depends upon the amount of capital investment.