Since April 27, 2011, the City of Tuscaloosa has and continues to make great strides in recovery, especially in the three focuses of housing, commercial and infrastructure.
Housing
Commercial
The Revolving Loan Program's purpose is to provide economic development assistance for businesses that create and/or retain low to moderate income jobs, to encourage business development and expansion, and to stimulate private investment in the recovery area. Loan funds may be used for the following:
Land, building purchase and/or improvement
Machinery and equipment purchase and/or installation
Leasehold improvements
Working capital
Inventory purchase
Refinancing of existing debt
Land, building purchase and/or improvement
Machinery and equipment purchase and/or installation
Leasehold improvements
Working capital
Inventory purchase
Refinancing of existing debt
The Edge, a center for entrepreneurship and innovation and business incubator, opened in September 2013. Brought about by a partnership between the City of Tuscaloosa, the University of Alabama and the The Chamber of Commerce of West Alabama, The Edge helps provide resources and guidance to help City businesses re-establish themselves or insert themselves in the market. Due to its overwhelming success, The Edge has outgrown its current facility and in order to support the growing needs for its services will have to construct a larger building. A larger facility will allow The Edge to reach approximately 50 businesses and create 236 jobs with a strong emphasis on women, minority and veteran owned businesses.
The Shoppes at Legacy Park is home to the City's newest retail and restaurant options. Built with the aid of an incentive package from the City, the development of Legacy Park created over 400 jobs and boasts commercial offerings like Fresh Market, Chuy's, DSW, World Market and Dick's Sporting Goods. |
Infrastructure
The City Walk, an ongoing recovery project, is a shared-use path for pedestrians and bicyclists spanning from Rosedale to the Alberta School of Performing Arts. This path, designed to create new mobility options for residents and greater connectivity between neighborhoods in the recovery area, is one of the main aspects of the Tuscaloosa Forward Generational Plan. The walk will include a 12-foot-wide trail with signage, dynamic lighting, WiFi and security cameras. Some segments of the City Walk are complete, but additional segments will be completed over coming years. |