Business Assistance
Companies in Madison, Alabama 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.
IDB Assistance
Tax Abatements
- Abatement of non-educational city and county sales and/or use taxes; and/or state, county, city property taxes for qualifying businesses for up to 20 years. Approved by the IDB and administered by the State Department of Revenue.
| GENERAL | EDUCATIONAL | MFG. MACHINERY | EDUCATIONAL | |
|---|---|---|---|---|
| Alabama | 4.0% | 0.0% |
1.5% | 0.0% |
| Madison County | 1.5% |
1.5% |
0.75% | 0.75% |
| City of Madison | 3.5% |
0.0% |
1.5% | 0.0% |
| TOTAL | 9.0% | 1.5% | 3.75% | 0.75% |
| Abatable | 7.5% | 1.5% | 3.0% | 0.75% |
Industrial Revenue Bonds (IRBs)
- Lower interest rates and offer tax benefits administered by the IDB for qualifying new and expanding companies for land, building, and equipment purchases.
Revolving Loan Funds (RLF)
- A state program that provides gap financing for qualifying new and expanding industries that create new and permanent jobs. The RLF is administered through the IDB for land, building, and equipment purchases, as well as working capital.
Other Assistance
Certified Capital Company Program (CAPCO)
More information about this program can be found on the CAPCO Frequently Asked Questions sheet (PDF) from the Alabama Department of Commerce.
- 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.
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 the 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
AIDT (Workforce Recruitment and Training)
AIDT was established to build a healthy state economy by recruiting and training a skilled workforce to attract new industries to the state and to expand existing industries. Job-specific pre-employment and on-the-job training programs are provided. The program provides a full range of customized technical training programs that are offered at no cost to employers and to the trainees. Leadership training programs are also available. In addition to training, AIDT offers services including trainee recruitment and screening, safety assistance, industrial maintenance assessments, and continuous improvement/ process improvement assessments. Training is conducted by AIDT staff or contracted instructors and delivered through classrooms or 38 Mobile Training Units (MTUs) customized to meet specific company needs.
Small Business Association (SBA)
The SBA provides a variety of funding programs to small businesses to the assistant and encourages entrepreneurship and startups. The SBA provides loans, investment capital, surety bonds, and grants. Also, the SBA provides a variety of financial instruments aimed at recovery and loss-mitigation during COVID-19.