One component of the “Game Plan” economic development package enacted last year is beginning to bear fruit.
The SEEDS Act, an acronym for Site Evaluation and Economic Development Strategy, offers grants to local industrial development agencies to have their sites evaluated and improved in order to better recruit businesses.
The State Industrial Development Authority approved $30.1 million in such grants to local areas. The state funding will be matched with $38.4 million in local money across 29 industrial sites totaling about 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,” Gov. Kay Ivey said in a written statement. “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.”
According to the governor’s office, $1.1 million in grants will fund environmental and geo tech surveys at 29 early-stage industrial sites in communities including Ashland, Sulligent, Hamilton, Prattville and Montgomery.
Fifteen development grants worth $29 million were also approved for purposes such as infrastructure improvements, land purchases and site grading. Communities including Jasper, Atmore, Opelika and Mobile.
“We’ve been very successful in economic development during Governor Ivey’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.”
Grant applications were accepted in October 2023 and communities across the state requested a combined $42 million in funding. Those not chosen for funding can apply for future funding, Ivey’s office said.
“Our goal with the Game Plan was to ensure Alabama continues to have the necessary tools to compete and win on the national 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,” Speaker of the House Nathaniel Ledbetter, R-Rainsville, 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.”