MONTGOMERY — A pair of North Alabama economic development organizations are among four in the state that will share more than $7.2 million in new Growing Alabama funding, Gov. Kay Ivey announced.
The Renewal of Alabama Commission allocated the funds to help accelerate the development of industrial and agricultural center sites.
The funds are designed to boost site readiness, a critical factor in attracting new industries and supporting business expansions in Alabama.
The North Alabam communities benefiting from this latest round of Growing Alabama funding are in Lauderdale and St. Clair. The $5.3 million worth of investments will support site work, infrastructure development and long-term growth potential in these regions.
“Growing Alabama is about ensuring that every corner of our state has the opportunity to attract new businesses and create jobs for hardworking Alabamians,” said Ivey. “By investing in site readiness, we’re setting the stage for economic growth in communities that need it most. These projects will not only strengthen local economies but also make Alabama even more competitive on a national and global scale.”
The Growing Alabama program is vital in preparing sites for future development — one of the key considerations for businesses looking to build new facilities or expand current operations.
The area funding recipients are:
- Industrial Development Board of St. Clair County: $3.8 million for site work and public infrastructure at an industrial park.
- Lauderdale County Agricultural Center Authority: $1.5 million for construction of an agricultural center.
The Growing Alabama program provides tax credits to eligible taxpayers who make contributions to approved economic development organizations. In return, donors receive a tax credit equal to the value of their contribution, creating a mutually beneficial path toward advancing industrial development across the state.
The Alabama Department of Commerce administers the Growing Alabama program, and all applications are approved by the Renewal of Alabama Commission, which is chaired by Commerce Secretary Ellen McNair.
“The Growing Alabama program is one of the most impactful tools we have to spur long-term economic growth. By funding essential infrastructure and site development, we’re enabling communities to attract new industries and create high-quality jobs,” said McNair. “These investments pave the way for future success, ensuring Alabama remains a top destination for business.”
Eligible projects for the Growing Alabama program include site preparation on public land for industrial use, as well as infrastructure improvements to make existing industrial properties more attractive for new investments.
Qualifying activities may involve land clearing, utility upgrades and other improvements necessary for site readiness. Additional eligible projects include capital improvements at inland ports or intermodal facilities, as well as construction and maintenance of agricultural centers.
This year, the total amount available through the Growing Alabama program was $23 million, providing ample opportunity for communities across the state to accelerate site development.
In July, Ivey announced that $15.5 million in Growing Alabama funding was allocated to Auburn, Brundidge, Enterprise, Fort Payne, Greene County, Coosa County and Walker County.
For more information about the Growing Alabama program, contact Rachel Madore, manager of business intelligence and incentives, at 334-557-3431 or email to [email protected].
Another resource for potential donors and communities seeking support in site development is the Economic Development Partnership of Alabama, which is developing a database of contributors to aid in advancing industrial readiness statewide.
Don’t miss out! Subscribe to our email newsletter to have all our smart stories delivered to your inbox.
