Many counties in Alabama enable companies to apply for grants, loans, and other assistance programs available through federal, state, and local government sources. Additionally, private providers, such as local foundations, often help fund programs for businesses in Lowndes County. The Lowndes County Economic Development Commission may be able to provide assistances to municipalities in site preparation, infrastructure projects, and project financing. For more information about assistance programs available in Lowndes County, contact the staff of the Lowndes County EDC at 334-371-8400.
AIDT (Workforce Recruitment and Training)AIDT is among the top workforce training programs in the US and provides state of the art training and support services for new and expanding businesses. AIDT is ISO 9001:2008 certified and provides training staff, mobile training units, in-house design and production facilities, recruitment assistance, customized pre-employment training, and production of training materials and videos for employee development at no cost to business and industry.
Alabama Technology Network (ATN)Regional centers provide a range of services customized to the needs of local small manufacturers helping them be more globally competitive.
Alabama Career CentersAssistance is available to support employers with employee recruitment and prescreening.
Enterprise Zone Tax Incentives and Exemptions
Enterprise zone tax incentives:
- Credit based on income tax liability from Enterprise Zone Project Operations
- Credit for new capital investment
- Company may claim a credit of up to $1,000 per new permanent employee for training new permanent employees in new skill areas
Enterprise zone tax exemptions:
- Sales and use tax on purchases of construction-related materials, machinery and equipment used in the zone
- Income tax for five years
- Business privilege for five years
Financing & Permitting Programs
Accelerate Alabama FundProvides loans to fund site preparation in counties with populations less than 25,000 in an amount up to $2 million per project is at least 25 jobs are created, or up to $1 million if less than 25 jobs would be created. Two sites per year located outside of these counties can receive this funding at the Governor's discretion.
AlabamaSAVES (Sustainable and Verifiable Energy Savings) Loan ProgramProvides 10 year, 2% interest rate loans of $250,000 - $4,000,000, covering up to 90% of total project costs to help existing industries finance energy-savings improvements to their facilities.
Industrial Development Grant ProgramGrants awarded to counties, municipalities, development boards or authorities, port authorities, or public corporations for site preparation or reasonable rehabilitation of an existing building or structure necessary to attract a qualifying project. Size of grant is dependent on amount of capital investment.
Industrial Access Road and Bridge ProgramCovers cost of construction, construction engineering, and inspection costs for providing public access to new or expanding distribution, manufacturing, or industrial firms.
Industrial Revenue Bonds (IRBs)May be used as long term financing of up to 100% of a project including
- Acquisition of land, buildings, site preparation, and improvements
- Construction of buildings
- Acquisition and installation of furnishings, fixtures, and equipment
- Capitalizable soft costs (e.g., architectural and engineering, interest incurred during construction, cost associated with bond issuance, etc.