Alabama to provide $15M in grants for industrial site development

(The Center Square) – Seven economic development organizations have been awarded $15.5 million in Growing Alabama grants for industrial sites by the Renewal of Alabama Commission.

The Growing Alabama program provides a one-for-one tax credit to taxpayers who contribute to economic development organizations for approved projects. There is $23 million allocated for the program this year.

The communities receiving the funding to improve industrial sites include Auburn, Brundidge, Enterprise and Fort Payne, along with Greene, Coosa and Walker counties.

The funds are intended to help develop public land for development or pay for improvements at existing industrial sites to help them lure new businesses.

"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 Gov. Kay Ivey in a release. "The Growing Alabama program is helping us do just that."

The Industrial Development Board of the City of Auburn will receive $2.76 million for site work and infrastructure at Auburn Technology Park.

Brundidge will receive $473,275 for site work and infrastructure at North Industrial Park.

Enterprise's Industrial Development Board will receive $2.9 million for site work and infrastructure at Enterprise Commerce Park.

Fort Payne will receive $1.07 million for site improvements at the Jacoway Industrial Site.

Greene County's Industrial Development Authority has been approved for $1.31 million for site work and infrastructure at the Crossroads of America Industrial Park.

The Lake Martin Area Industrial Development Authority will receive $2.5 million for site improvements at Lake Martin Regional Industrial Park

The Heritage Industrial Park in Walker County is set to receive $4.71 million for site work and infrastructure

"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 of the Alabama Department of Commerce Ellen McNair in a news release. "This round of Growing Alabama allocations will make a real difference for these communities."

McNair chairs the Renewal of Alabama Commission.