The State of Alabama began accepting applications on Monday from local economic development authorities to request funding for industrial site development in their communities.
Legislation was passed into law in the 2023 session granting additional powers so that the Site Industrial Development Authority (SIDA) may issue site assessment grants and site development grants with the hope of increasing the quality and quantity of industrial sites in Alabama.
The Site Evaluation Economic Development Strategy (“SEEDS”) Act authorized the State Industrial Development Authority (“SIDA”) to make site assessments and site development grants. SIDA has contracted with the Economic Development Partnership of Alabama to administer the grant programs. $40m has been appropriated to SIDA for the SEEDS program.
Applications for the funding close on December 15. The funding is scheduled to be approved in the last week of February 2024 at a to-be-determined date.
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