The Growing Alabama Commission recently approved the South Alabama Mega Site for an investment of $5.5 million for additional site improvements, which include the construction of an on-site rail spur …
The Growing Alabama Commission recently approved the South Alabama Mega Site for an investment of $5.5 million for additional site improvements, which include the construction of an on-site rail spur on the existing rail bed and construction of the wye, connecting the on-site rail spur to the CSX mainline.
This funding brings the total investment to $12.5 million from the Growing Alabama Tax Credit program, which uses private dollars to improve publicly owned sites for economic development purposes.
“The South Alabama Mega Site is a prime location for a high-impact economic development project within the Gulf Coast region, and these new improvements will make the Baldwin County site even more competitive when it comes to strategic corporate investment decisions,” said Greg Canfield, Secretary of the Alabama Department of Commerce. “This is another example demonstrating that the Growing Alabama Tax Credit Program is an effective tool in our team approach to facilitating economic growth in the state.”
The Growing Alabama Tax Credit program allows for taxpayers who make contributions to economic
development organizations for approved qualifying projects to receive a tax credit. The program is managed by the Alabama Department of Commerce and allows private companies and individuals to get a dollar-for-dollar tax credit for investing in preparation and infrastructure improvements to industrial sites. Along with support by the Growing Alabama Commission and the Alabama Department of Commerce, the investment in this phase of the site’s infrastructure improvements are made possible by donations from Regions Bank and CSX Transportation.
“The South Alabama Mega Site had already re-defined the term ‘shovel ready’ with our existing site
improvements, and this investment by our partners at CSX and Regions Bank puts us in an even better position to stand out among other mega sites in the Southeast,” said Lee Lawson, president and CEO of Baldwin County Economic Development Alliance. “These improvements could potentially speed up development timelines by over a year, providing prospective companies with a speed to market that can’t be found anywhere else.”
In prior funding years, the Growing Alabama Commission has approved an additional $7 million in investment at the South Alabama Mega Site. Prior investments were used to develop a 200-acre building pad on-site and construct the on-site rail bed, which provides the base needed for the newest investment phase.
“CSX is proud to continue our partnership with Baldwin County to create rail-ready opportunities for South Alabama Mega Site companies,” said Tom Tisa, head of business development for CSX. “This CSX Select Site is optimally located for CSX service as industries seek project space in Alabama’s booming economic market. This is another example of how CSX is leveraging public-private partnerships to grow our business and positively impact economies in the communities we serve.”
“Regions Bank has been a major supporter and contributor of economic development opportunities across South Alabama for decades, and our support of the Baldwin County Mega Site is an extension of our priority to make life better in the communities we serve,” said Christian White, Mobile market executive for Regions Bank.
“We are excited about the development opportunities for the Mega Site, and we are proud to invest in the work to enhance its viability to create jobs and further grow the area’s economy.”
Baldwin County Economic Development Alliance (BCEDA) will retain ownership of the site until the project is complete, as required by law to participate in the Growing Alabama Tax Credit program. Once finalized, BCEDA will return ownership to the Baldwin County Commission.
“This opportunity further strengthens Baldwin County’s place as Alabama’s leader for incoming business
investment and growth and can lead the way in making paradise even better,” said Baldwin County
Commissioner Joe Davis. “These site improvements will allow for tenants to have shortened development timelines and ultimately provide a shovel ready site that is well positioned to create new jobs for Baldwin County residents.”
For more information about the South Alabama Mega Site, visit southalabamamegasite.com.