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. FIP 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.
Click here for more information about FIP.