There are many assistance programs available from the state, TVA, and other sources to help companies locate to and grow in Cherokee County. For help with determining which programs your company can benefit from, please contact the Cherokee County Industrial Development Authority office at 256-927-1805.
Industrial Development Grant Program (Site Preparation)
This statewide grant program provides site preparation grants to county and local municipalities to help prepare sites for new and expanding industries.
Grants are used for:
- Land and labor surveys
- Site preparation
- Road construction
Grants are based upon the amount of capital investment:
| Capital Costs | Percentage of Capital Costs |
|---|---|
| Less than $200,000 | 5.0% |
| $200,000-499,999 | 3.4% (minimum $10,000) |
| $500,000-999,999 | 2.5% (minimum $20,000) |
| $1,000,000-1,999,999 | 1.5% (minimum $28,000) |
| $2,000,000-9,999,999 | 1.0% (minimum $32,000) |
| $10,000,000-24,999,999 | 0.75% (minimum $100,000; maximum $150,000) |
| $25,000,000 or greater | Maximum $150,000 |
Industrial Revenue Bonds (IRBs)
- Available for up to 100% of costs for a qualifying project
- Generally has lower interest rates
- Used primarily for building and land purchases
- Offers tax benefits
Alabama Infrastructure Grant Program
This grant program helps county and local municipalities extend water, sewer, and road facilities to prepare a site for industrial use. Qualifying new and expanding industries can benefit from this program.
USDA Rural Development
The U.S. Department of Agriculture (USDA) provides technical and business support programs for businesses. More information about these programs, including grant and loan information, can be found on the USDA website.
TVA Programs
The Tennessee Valley Authority (TVA) is a partner for economic growth, providing assistance to new and expanding industries located within their service area. Businesses locating to or already located in Cherokee County can benefit from the TVA Programs.
These programs include:
- Economic Development Funds
- Funding for new industrial plant expansions or retentions
- Special Opportunities Counties
- Loans available for buildings, equipment, real estate, industrial parks, and building development
- Enhanced Growth Credit
- Credits on power bills for qualifying expanding companies
Learn more about available TVA Programs from the TVA Economic Development site.