Companies in many counties throughout Alabama are eligible to apply for grants, loans, and other assistance programs available through federal, state, and local government sources. In addition, private providers, such as local foundations, often help fund programs for businesses in Elmore County. The Elmore County Economic Development Association may be able to provide assistances to municipalities in site preparation, infrastructure projects, and project financing.
For more information about the variety of assistance programs available in Elmore County, contact the staff of the Elmore County EDA at 334-514-5843.
Industrial Revenue Bonds (IRBs)
- Administered by local economic development organizations
- Available for qualifying new and expanding companies
- Can be used for land, building, and equipment purchases
- Have lower interest rates and offer tax benefits
Regional Revolving Loan Funds
- State program
- Provides gap financing for qualifying new and expanding industries that are creating new permanent jobs
- Can be used for land, building, and equipment purchases, as well as working capital
Certified Capital Company Program (CAPCO)
- Open to qualifying businesses that are headquartered in Alabama or are moving their headquarters to the state
- Administered by the Alabama Department of Commerce and provides alternative funding to conventional bank financing
More information about this program can be found on the Alabama Department of Commerce website.
USDA Rural Development
The USDA provides business assistance programs, including grants and loans for those companies looking to develop in rural areas. More information about these programs, including grant and loan information, can be found on the USDA Rural Development – Alabama website.
Site and Infrastructure Assistance
Local municipalities are willing to apply for site preparation and infrastructure grants to assist new and expanding companies in Alabama.
- Industrial Development Grant Program (Site Preparation)
- Used for land and labor surveys, site preparation, and road construction projects
- Based on amount of capital investment
- Alabama Infrastructure Grant Program
- Used to improve infrastructure on a site
- Alabama Industrial Access Road and Bridge Program
- Used to create industrial access to a site
- Includes construction of roads and bridges
- Grants from Alabama Department of Economic and Community Affairs