More than $30 million in SEEDS grants approved for industrial sites in Alabama

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 up" industrial development throughout Alabama. 

An announcement from Gov. Kay Ivey on Monday said that funding will be matched with $38.4 million in local funds at 29 different industrial sites. These sites total almost 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,” she said in the announcement. 

“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.”

SIDA has approved 14 site assessment grants that are valued at $1.1 million, "chiefly" for environmental and geo-tech surveys of early-stage industrial sites that include Ashland, Sulligent, Hamilton, Prattville and Montgomery, with local matches totaling $629,000 overall. 

“Our goal with the Game Plan was to ensure Alabama continues to have the necessary tools to compete and win on the national stage," said Speaker Nathaniel Ledbetter.

"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. 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.”

Read the full announcement here.