Infrastructure & Energy Incentives
FastTrack Infrastructure Development Program (FIDP)
This discretionary grant is provided to local governments for infrastructure needs for new and expanding companies. TNECD will work with the local officials to identify eligible needs for a project, such as water, sewer, rail, gas, electric, roadway, telecommunications, or other site improvements. FIDP funds require local matching funds, and may only be used for infrastructure improvements benefitting a specific company generating net new full-time jobs and capital investment. For onsite improvement, the community must provide a PILOT on the real property investment for at least five (5) years. TNECD is not able to provide incentives prior to the execution and approval of a contract.
Tennessee Industrial Access Road Program
Administered by the Tennessee Department of Transportation (TDOT), this grant program provides funding for access roads needed by new or expanding industries. Local governments apply for the grants on behalf of companies. Eligible activities include road design, construction and construction inspection.
Utility Incentive Rates
Memphis Light, Gas and Water (MLGW) will participate in the costs to provide electrical service to general power or industrial customers. Additionally, the utility will participate in gas costs associated with main extensions, additions or improvements. The utility's investment is based on facility load and gross marginal revenue. In partnership with the Tennessee Valley Authority (TVA), MLGW also offers a General Manufacturing Credit which is applied to the electric portion of the utility bill, and an Investment Credit in the form of a monthly power bill credit to qualifying companies that make a five-year commitment to several economic and power system categories.