Alabama Industrial Development Grant Program

Alabama Industrial Development Grant Program

Program Name: Alabama Industrial Development Grant Program

Resource Type: State

State: Alabama, Gulf of Mexico

Agency: Program Source: Grant

Description: 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. Use of funds is for conducting land and labor surveys, grading, draining and providing access to specific sites to be used for new or expanding industry. 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. Grant amount range is $10,000 to $150,000. Requires company to meet state SIC* code criteria.