A proposed high-tech industrial park and residential community near Barber Motorsports in Alabama could receive $6 million in federal grants.
The funds could help push forward development of the project that could create more than 1,200 jobs, Al.com reported. The Alabama Department of Labor says the project could generate an economic impact of more than $85 million in Birmingham.
The Alabama Department of Labor announced Wednesday that the state has been given preliminary approval to distribute $10 million in federal grant funds to three projects.
Work on the projects is expected to begin this summer. The project is called the Grand River Technology and Grand River Homes.
The Surface Mining Reclamation and Enforcement’s federal office gave the approval. It was a part of the 2017 AML Pilot Program to revitalize Alabama’s coalfields region.
Along with the Grand River development, the other projects are in the cities of Helena and Vestavia Hills.
In November, the Birmingham City Council approved entering into an agreement with U.S. Steel to pay up to $4.6 million for some site work to prepare 40 acres south of Barber Motorsports Park for the industrial park.
U.S. Steel will deed 24 acres near the site over to the city for the relocation of the Southern Museum of Flight.
The development agreement says the city’s investment will pay for the construction of a partial road and grading of the property.
U.S. Steel, Birmingham, Southern Museum of Flight, Jefferson County and Leeds has partnered on the project.
Republished with permission from the Associated Press.