HDR business

Business Assistance

Companies in Madison, AL can apply for grants, loans, and other assistance programs available through federal, state, and local government sources. Additional programs are funded by private providers, such as local foundations. Assistance may be available for site preparation, infrastructure projects, and project financing. Detailed information about state tax incentives and other programs is available from the Alabama Department of Commerce. For more information about the available assistance programs, Start Now.

Industrial Revenue Bonds (IRBs)

  • Administered by Madison City Industrial Development Board (IDB)
  • Available for qualifying new and expanding companies
  • Can be used for land, building, and equipment purchases
  • Have lower interest rates and offer tax benefits

Revolving Loan Funds

  • State program
  • Administered through local economic development organizations.
  • 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 CAPCO Frequently Asked Questions sheet (PDF) from the Alabama Department of Commerce.

Site and Infrastructure Assistance

Local municipalities are willing and able 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 the Alabama Department of Economic and Community Affairs