Industrial Development Grant Program (Site Prep)

The State Industrial Development Authority (SIDA) sells bonds to make grants to counties, municipalities, local industrial development boards or authorities, economic development councils or authorities, airport authorities, port authorities, or public corporations or certain state entities to pay for preparation of project sites owned or leased by these entities. Grant funds may be utilized for:

  • Preparation of a means to access the site

  • Provide adequate drainage of the site

  • Surveying, clearing and excavating

  • Reasonable rehabilitation of buildings and other structures

  • Other site preparation deemed necessary and appropriate


The size of the grant is dependent upon the amount of capital investment:

Capital Costs       Grant Amount

Less than $200,000

 

5.0%

$200,000 to $499,999

 

3.5% (minimum $10,000)

$500,000 to $999,999

 

2.5% (minimum $20,000)

$1,000,000 to $1,999,999

 

1.5% (minimum $28,000)

$2,000,000 to $9,999,999

 

1.0% (minimum $32,000)

$10,000,000 and greater

 

0.75% (minimum $100,000; maximum $150,000)


Requirements for the Industrial Development Grant