$50 million has been given to the Northeast Alabama Regional (NEAR) megasite in hopes of bringing an economic boost to Etowah County.
The Alabama Department of Commerce, State Industrial Development Authority, Rainbow City, Norfolk Southern and the Etowah County Commission have provided millions of dollars to get the site ready for construction.
Etowah County district 6 Commissioner Craig Inzer, Jr said, “We are trying to be the economic driver for northeast Alabama by landing a large scale manufacturer.”
Rainbow City gave $1 million for an interstate exchange design in order to give the facility interstate access to I-59.
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Rainbow City Mayor Joe Taylor says the growth the facility will bring to the city and surrounding area will be large saying, “I think for Rainbow City it’s just an incredible opportunity to see the growth we have right now which is very organic begin to go supersonic.”
This would bring many people into the city but also their money and more businesses in order to serve the workers at the facility and new Rainbow City or neighboring residents.
Mayor Taylor explained,”It’s eat sleep shop. In our case we know not only are people going to be working in workforce but we also know we’ll be collecting taxes from people that come from outside.”
Inzer also says this would not be possible without the many partners that have provided or helped to secure funding, and the impact of the manufacturing facility would be felt by not just Etowah County, but many surrounding counties.
It is currently unknown what company the megasite will host or when but the land is ready for construction. The only thing remaining is the interstate exchange which has been in the works for 2 years now.