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Metro Newsroom

New Green Incentives Available

Wednesday February 24, 2010

Mayor Jerry Abramson today announced the creation of four new small-business incentive programs to help spur economic development and create green jobs.

The city’s Economic Development Department is now accepting applications for the grant and low-interest loans, funded by a combination of federal Department of Energy Efficiency Conservation Block Grant, federal stimulus funds and city dollars.

“These dollars will help companies and non-profits become more energy efficient — and will help our city become cleaner and greener,” Abramson said.

The funds are:

  • P.O.W.E.R. Loan – Providing Opportunities With Emissions Reduction, a $2 million revolving loan fund for the retrofit of off-road diesel equipment.

  • Green Jobs Revolving Loan Fund – $1.4 million revolving loan fund for companies with new green products or jobs.

  • Non-profit Energy Audit Grant – $200,000 grant pool for non-profit organizations wanting to make their facilities more energy efficient. The money will pay for an energy audit that makes recommendations for improving efficiency and lowering utility bills.

  • Go Green Loan – A revolving loan fund that provides incentives for manufacturing companies wishing to improve their energy efficiencies through monitoring their power equipment.

Business may apply for the loans by calling 502-574-4140.