The State of Alabama will begin accepting applications for another round of $30 million in site assessment and development grants this summer.
Local economic development groups will be able to begin submitting applications to the state for the second round of matching grants from July 1 to September 30. State officials will make final recommendations on which projects get funded in February 2025.
The State Industrial Development Authority (SIDA) approved over $30 million in grants under the new Site Evaluation and Economic Development Strategy Act (SEEDS) to increase the development of industry-ready sites across Alabama in the first round of funding in February.
A total of $30.1 million in SEEDS funding approved in February was matched with $38.4 million in local funds at 29 different industrial sites encompassing nearly 8,400 acres. Thirty-four local economic development groups applied for the program in 2023.
Ellen McNair, Alabama Department of Commerce Secretary, told 1819 News on Monday the new sites have allowed Alabama to compete for 14 projects worth $13.5 billion that would bring over 5,000 jobs.
“We’re competing. None of them have announced and none of them have made final decisions. In this very short period of time, it’s allowed us to compete on 14 projects, some of them I know for a fact we did not have sites, and because of this program, we now do have sites, and we’re able to compete on these projects,” McNair said. “If you don’t have sites, you can’t even compete for a project. We have kind of been a victim of our own success a little bit in that we’ve had so much success in recruiting industries that the inventory of our sites are at an all-time low. This resource obviously helps out tremendously.”
To connect with the author of this story or to comment, email caleb.taylor@1819News.com.
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