The people's voice of reason
The people's voice of reason
Gov, Kay Ivey addressing supporters
On Monday, Alabama Governor Kay Ivey (R) announced that the Renewal of Alabama Commission has allocated over $15.5 million in Growing Alabama funding to seven economic development organizations across the state in an attempt to speed the development of industrial sites.
The Growing Alabama program provides a tax credit to eligible taxpayers who make contributions to economic development organizations for approved qualifying projects. Alabama taxpayers donating to an economic development organization receive a tax credit equal to their donation.
The communities benefiting from this cycle of Growing Alabama funding are Auburn, Brundidge, Enterprise, Fort Payne, Greene County, Coosa County and Walker Count
"We've been on a long winning streak when it comes to economic development, but we need to replenish our inventory of available industrial sites across the state to stay in the game," said Governor Ivey. "The Growing Alabama program is helping us do just that."
Ellen McNair is the Secretary of the Alabama Department of Commerce.
"The Growing Alabama program is a powerful tool to accelerate the development of shovel-ready sites, which are critically needed today as we compete for high-impact economic development projects that bring significant job creation," said Secretary McNair. "This round of Growing Alabama allocations will make a real difference for these communities."
The program promotes economic development by funding industrial site readiness, a key factor for companies considering the state for a new facility or an expansion.
The Industrial Development Board of the City of Auburn was awarded $2.76 million for site work and public infrastructure at Auburn Technology Park.
The City of Brundidge received $473,275 for site work and public infrastructure at North Industrial Park.
The Industrial Development Board of the City of Enterprise will receive $2.9 million for site work and public infrastructure at Enterprise Commerce Park.
The City of Fort Payne was awarded $1.07 million for site improvements at the Jacoway Industrial Site.
The Greene County Industrial Development Authority will receive $1.31 million for site work and public infrastructure at Crossroads of America Industrial Park.
The Lake Martin Area Industrial Development Authority was awarded $2.5 million for site improvements at Lake Martin Regional Industrial Park.
The Walker County Economic & Industrial Development Authority will receive $4.71 million for site work and public infrastructure at Heritage Industrial Park.
The Alabama Department of Commerce administers the Growing Alabama program, and the Renewal of Alabama Commission must approve all applications under the program. Secretary McNair serves as chair of the commission.
The types of projects eligible for the program include site preparation of public land for industrial use and infrastructure improvements at existing industrial properties.
Qualifying activities include clearing land, upgrading infrastructure and other improvements to make sites ready for projects. Other qualifying activities may include capital improvements at inland ports or intermodal facilities and construction and maintenance for agricultural centers.
A total of $23 million is available under the Growing Alabama program in this calendar year.
For information about the Growing Alabama program, contact Rachel Madore, Commerce's senior project manager of business intelligence and resources, at 334.557.3431 or mailto:rachel.madore@commerce.alabama.gov
The Economic Development Partnership of Alabama is an additional resource for educational materials, outreach support and matchmaking for donors and communities
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