TNECD Announces Site Development Grant Program Expansion

  • Grant program assists communities with site preparation
  • Modifications include increased funding, reduced match requirements and spec building construction

NASHVILLE, Tenn. – The Tennessee Department of Economic and Community Development (TNECD) announced today significant changes to the department’s Site Development Grant Program, which aims to prepare rural industrial sites to attract new businesses and investment to Tennessee.

The changes are designed to mitigate the time and risk associated with industrial development projects across the state and will include increased funding, reduced match requirements for eligible sites and the introduction of speculative building construction. 

“Tennessee remains committed to being a premier destination for businesses, and the updated Site Development Grant Program reflects our state’s proactive approach to economic growth,” said TNECD Commissioner Stuart C. McWhorter. “Through these changes, we are reinforcing Tennessee’s position as a competitive player in the economic development landscape, and we look forward to seeing the new opportunities that these updates will bring to our rural communities.”

Key features of the enhanced Site Development Grant Program include:

  1. Increased Funding: The program now offers an expanded pool of funds, enabling TNECD to provide even greater financial support to eligible applicants. This increased funding will facilitate infrastructure improvements and site readiness, ensuring companies have the necessary resources to establish a strong presence in the state.
Current ProgramNew Updates
Site Development Grant Maximum – $1,000,000   Due Diligence SDG Max – $100,000Increased grant maximum – $5,000,000   Due Diligence SDG Max – $100,000
  1. Reduced Match for Eligible Sites: To enhance accessibility and support economic progress in targeted communities, the Site Development Grant Program has reduced the match requirements for the most competitive and prepared sites. This reduction will enable communities facing economic challenges to take advantage of the program’s benefits, fostering their growth and revitalization.
Current ProgramNew Updates
Tier 1 50/50 Tier 2 70/30 Tier 3 90/10 Tier 4 95/550% match reduction for sites that have received a site visit from Austin Consulting through the Select Tennessee Certified Sites Program
  1. Speculative Building Construction: The revised program now allows for the construction of speculative buildings, addressing the evolving needs of businesses. This addition empowers communities to proactively construct speculative facilities, providing ready-to-use spaces for companies considering relocation or expansion in Tennessee. This flexibility will attract a wider range of industries and stimulate economic activity throughout the state.
Current ProgramNew Updates
Construction Activities, Property-Related Activities, Due Diligence Grants, Rehabilitation of Publicly-Owned Industrial Buildings, andBrownfield Remediation  Speculative Industrial Building ConstructionBuildings will need to be publicly-owned. Minimum specifications include 100,000 square feet expandable to 200,000. – additional specifications and requirements will be included in the application.

To be eligible for a Site Development Grant (SDG), the applicant must be a governmental entity (city, county, industrial development board, etc.). The site must be publicly-owned at the time of application unless the grant request is to purchase the property or perform due diligence studies. Sites must be at least 20 acres and have gone through, at a minimum, the site visit by Austin Consulting (Foote) for the Select Tennessee certification program, the site visit and evaluation by Austin Consulting for the Property Evaluation Program or the site visit by KPMG for TVA’s Invest Prep program. Entities in Tier 3 and 4 counties may submit sites that are at least 10 acres and meet all other requirements. Sites with open SDG projects are not eligible to apply.

The Site Development Grant program, part of the Rural Economic Opportunity Act, works in tandem with TNECD’s Select Tennessee program. Since its inception, TNECD has awarded 153 Site Development Grants across the state, totaling more than $60 million in assistance to local communities and generating approximately 6,400 new jobs for Tennesseans.

For more information about the updated program, visit here.

About the Tennessee Department of Economic and Community Development

The Tennessee Department of Economic and Community Development’s mission is to develop strategies that help make Tennessee the No. 1 location in the Southeast for high quality jobs. To grow and strengthen Tennessee, the department seeks to attract new corporate investment to the state and works with Tennessee companies to facilitate expansion and economic growth. Find us on the web: Follow us on Twitter, Instagram and LinkedIn. Like us on Facebook. Subscribe to our YouTube channel.

About Brad Jones

Brad is the Owner/Operator of BBB TV 12, and has been with the company since August of 1996. Brad is a 1987 graduate of Coalfield High School and a 1995 graduate of the University of Tennessee College of Communications. He won the 1995 broadcast production student of the year award. Brad worked at Shop at Home, Inc. a home shopping network that was located in Knoxville, TN from 1993 - 1995 and then at Via TV (RSTV, Inc.) from 1995 - 1996. After some freelance work in Nashville, Brad joined the BBB Communications staff in August of 1996. A short stint at WVLT TV as a news photographer was in 2001, but he continued to work at BBB TV as well. Brad is married to Nicole Jenkins Jones, a 1990 graduate of Oak Ridge High School, who works at Oak Ridge Gastroenterology and Associates in Oak Ridge. They have 3 kids, Trevor Bogard, 27, Chandler 22, and Naomi 13. On December 12, 2013 they welcomed their first grandchild, Carter Ryan Bogard. Brad is also the assistant boys basketball coach at Coalfield High School for the past 11 years. In 2013-14 the Yellow Jackets won their first district title since 1991 and just the 4th in school history.

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