Site development efforts get $30 million boost with Alabama’s first SEEDS grants
More than $30 million in grants under Alabama's new Site Evaluation and Economic Development Strategy Act (SEEDS) will speed the development of industry-ready sites. (contributed)
Gov. Kay Ivey announced today that 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.
The groundbreaking grant program — a key portion of the governor’s “Game Plan” package of economic development bills approved by the Legislature last year — takes direct aim at the urgent need for quality industrial sites in Alabama at a time when other states are spending heavily to expand their site programs.
A total of $30.1 million in SEEDS funding will be matched with $38.4 million in local funding at 29 industrial sites encompassing nearly 8,400 acres.
“SEEDS represents an important tool that will allow us to keep winning those economic development projects that trigger lasting impacts for Alabama citizens,” Ivey said. “The awarding of the first grants under the program represents a milestone in our efforts to make sure Alabama remains competitive for game-changing growth projects.”
SEEDS stimulus
At a meeting today, SIDA approved 14 site assessment grants valued at $1.1 million, chiefly for environmental and geotech 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.
“We’ve been very successful in economic development during Governor Kay’s tenure — so successful, in fact, that we find ourselves with a shortage of fully developed sites,” said Ellen McNair, secretary of the Alabama Department of Commerce. “The SEEDS Act is allowing us to identify and develop sites as a critical function of our ability to recruit new industry and jobs. We must have product to sell.”
SIDA has contracted with the Economic Development Partnership of Alabama (EDPA) to administer the SEEDS grant programs. Greenville, South Carolina-based Global Location Services (GLS) assisted in the evaluation process.
After the SEEDS application process opened in October, organizations across the state requested a combined total of $42 million in funding. Those not chosen for funding can apply for future funding, and some of them benefited from free feedback from GLS as part of the evaluation.
“Over the past 10 years, economic development projects in Alabama have resulted in the creation of over 167,000 new jobs and $67 billion in capital investment. To maintain this level of success, it is crucial that Alabama communities continuously work to identify, assess and develop their inventory of sites toward investment-readiness,” said Cedric Colbert, senior consultant at GLS.
“By enabling proactive site improvements that will minimize risk to future investment projects, these SEEDS Act grants will directly improve Alabama’s ability to compete for economic development projects on a national scale,” he said.
‘Meaningful impact’
The approved SEEDs grants will help facilitate the development of industrial sites in both large Alabama cities and small, rural communities. Both large-scale sites and smaller industrial parks will benefit from funding.
“Alabama is the best place in the country to develop and grow a business. As legislators, it is our job to make sure people and businesses have the resources they need to make a meaningful impact for their families and communities,” said state Senate President Pro Tempore Greg Reed, who played a key role in winning approval for The Game Plan in the Legislature.
“The SEEDS Act does just that by allowing local economic development organizations the opportunity to help cultivate economic sites across our great state. I look forward to seeing how this exciting and groundbreaking legislation helps better Alabama so we can continue to be the best state to call sweet home,” Reed said.
House Speaker Nathaniel Ledbetter said the goal of The Game Plan was to ensure Alabama continues to have the necessary tools to compete and win on the national economic development stage.
“The SEEDS Act positions our local developers to stand out from out-of-state competitors and is vital to our long-term economic development strategy,” Ledbetter said. “This legislation is already proving to be transformative for Alabama’s economy, and I look forward to continuing to watch it work for our state.”
This story originally appeared on the Alabama Department of Commerce’s Made in Alabama website.
