Alabama Industrial Development Grant

Grants of money can be made to counties, municipalities, local industrial development boards, airport authorities and economic development councils organized as public corporations. To attract new industry or assist an existing industry in expansion, the money can be used to pay a portion of the costs of site improvement on land to which the recipient holds the title or controls.

ADVANTAGES

A grant.

USE OF FUNDS

Only for conducting land and labor surveys, grading, draining and providing access to specific sites to be used for new or expanding industry.

SOURCE OF FUNDS

Alabama Industrial Development Authority.

INTEREST RATE

None-this is a grant.

MATURITY TERM

None-this is a grant.

ELIGIBLE BUSINESSES

Industry in SIC codes 20-39 and Division F, Major Group 50, 51, 737, 8231, 8733, and 8734.

LIMITS

Size of grant depends upon amount of capital investment for land acquisition, construction and equipment. Amount of grant cannot exceed actual cost of site preparation.