March 4, 2024 Group Watch: Industrial Development Sites Get Grant Money Boost
The State Industrial Development Authority (SIDA) has approved more than $30 million in grants under the new Site Evaluation and Economic Development Strategy Act (SEEDS) to speed the development of much-needed industry-ready sites across the state. A total of $30.1 million in SEEDS funding will be matched with $38.4 million in local funds at 29 different industrial sites encompassing nearly 8,400 acres. At a recent meeting, SIDA approved 14 site assessment grants valued at $1.1 million, chiefly for environmental and geo-tech surveys of early-stage industrial sites at communities including Ashland, Sulligent, Hamilton, Prattville and Montgomery. Local matches totaling a combined $629,000 are pledged. SIDA also approved 15 development grants valued at $29 million for purposes such as infrastructure improvements, land purchases and site grading. Communities including Jasper, Atmore, Opelika and Mobile will provide matching funds totaling $37.8 million.
