Alabama Power Community Development
Recruiting business and industry is an art and a science. It takes hard work but pays enormous dividends. Unfortunately, many communities leave new jobs – and the prosperity they bring – on the table by not maximizing their potential.
Attracting new jobs takes broad, cohesive leadership; a plan; community and infrastructure services; and marketing.
Alabama Power is poised to use our 95 years of economic and community development experience to help communities achieve success.
Certified AdvantageSite Program
Communities can better position their industrial sites through a new designation called AdvantageSite. To meet the needs of industry, Alabama’s economic development community is working to designate an inventory of industrial sites with key documentation for accurate, timely project evaluation. This documentation is crucial, as companies have less time and shorter deadlines in which to evaluate sites.
AdvantageSite is a voluntary program that allows communities to demonstrate due diligence has been done. This does not imply that other properties in Alabama don’t meet the same criteria. It does mean designated sites have undergone a vetting process to show that important information about a site is readily available. A site awarded AdvantageSite designation has met certain standards related to ownership, accessibility, infrastructure, planning and zoning, and environmental and geotechnical due diligence.
Industrial Site Development Program
Alabama Power Company’s Economic and Community Development Department Industrial Site Development Program (ISDP) is intended to provide developmental assistance to communities that are expected to experience significant growth over the next five years. With certain capital improvements, these communities have property that could potentially be developed into industrial sites and parks.
The IDSP will help build capacity in these communities by providing predevelopment funds of up to $20,000 as an incentive to develop industrial properties. To qualify for this competitive grant program, the sites must meet specific eligibility criteria. Exceptions to the criteria will be considered on a case-by-case basis.
Speculative Building Program
The Alabama Power Company Speculative Building Program was established in 1991 for the purpose of advancing the construction and availability of quality buildings within a community. Funds may be used for the construction, acquisition and renovation of buildings.
Each community’s application will be evaluated on a case-by-case basis, which will provide flexibility in regard to the size and type of building. Whether or not Alabama Power Company will enter into a loan agreement depends upon the applicant meeting the minimum basic requirements listed above, upon the availability of funds from a limited source, and upon the priorities determined by an Alabama Power Company Executive Review Committee. As bonds mature, additional commitments from the revolving fund will be made.
Applications will be reviewed in order of receipt.
The Alabama Communities of Excellence (ACE) program uses a comprehensive, three-phase approach to assist participating communities in planning and preparing for a more vibrant future. Throughout each of these phases, ACE partners from the private sector, government agencies and universities work with each community to successfully achieve its goals.
To participate in the ACE program, communities must first submit a completed application and be selected as a participant. At the beginning of each selection process, applications are mailed to the mayors of those communities having the qualifying population of 2,000 to 18,000.