What Shoals Economic Development Authority does

Shoals Economic Development Authority (Shoals EDA) is a public/private economic development organization founded in 1996 in Florence, Alabama, serving Lauderdale and Colbert Counties in Northwest Alabama. It evolved from the Shoals Industrial Development Authority (SIDA), which was established in 1985 as Alabama's first multi-county public industrial recruitment organization. The authority provides business recruitment, expansion support, site development, workforce programs, and financial incentive administration, functioning as the primary point of contact between prospective or expanding employers and the regional network of private sector, municipal, state, and federal economic development partners.

Shoals EDA's core product portfolio centers on three industrial real estate assets — Shoals Research Airpark (with a 250,000 SF spec building expandable to 500,000 SF, designated as a Norfolk Southern Platinum REDI Site), Florence-Lauderdale Industrial Park (50+ tenants, $300M+ cumulative capital investment, 150,000 SF spec building), and Barton Riverfront Industrial Park (131 acres, expanding via SEEDS Act funding) — complemented by a 27,500 SF spec hangar for aerospace MRO development. Adjacent programmatic offerings include workforce development (Code Alabama coding bootcamp, Employment Growth Program reimbursing hiring costs at $18/hr average entry-level wage, Alabama Career Essentials), talent attraction (Remote Shoals), and music industry incentives (Shoals Music Makers). Underlying infrastructure is a GIS-based industrial properties portal and standard digital marketing channels; there is no proprietary technology platform.

The revenue model is professional-services-style public funding: Shoals EDA is sustained through appropriations from local governments and contributions from area businesses, augmented by competitive state grants (Growing Alabama Tax Credit, SEEDS Act) and the Shoals Economic Development Fund (SEDF) established in 2007. It is not revenue-transactional per recruited company; rather, it is a seven-person team that originates and de-risks projects, with quantifiable outcomes measured in capital investment attracted and jobs created (e.g., $300M+ at Florence-Lauderdale, 1,100 jobs at the announced Virginia Transformer plant, $1.9M in new annual payroll through Employment Growth Program).

Name

Shoals Economic Development Authority

Legal name

Shoals Economic Development Group

Website

https://shoalseda.com

Company type

Private

Founded year

1996

Operating status

Operating

Short description

Shoals Economic Development Authority is a public/private economic development organization based in Florence, Alabama that recruits, retains, and supports manufacturing and industrial companies in Lauderdale and Colbert Counties through site development, speculative buildings, workforce programs, and state-administered financial incentives.

Ownership category

akta.pro rank

Product category

Economic Development Services

NAICS

Administration of General Economic Programs (92611), Public Administration (92), Administration of Housing Programs, Urban Planning, and Community Development (9251)

SIC

Services-Membership Organizations (8600), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Industrial Development & Competitiveness Programs (BPADAMAF)

akta.pro secondary industries

Industrial Park Owners Association Management (BPAJAHAH), SME & Entrepreneurship Development (Trade-Linked) (BPADAMAE)

Keywords

• Economic development services
• Industrial site development
• Workforce development programs
• Business recruitment
• Speculative industrial buildings

Headquarters

HQ city

Florence

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Economic Development Services: SEDA operates as a public/private organization funded by local governments and area businesses. They provide economic development services, site development, workforce programs, and incentive programs to attract and retain businesses in the Shoals region.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels10 records

Core offering

Shoals Economic Development Authority is a public-private partnership that recruits new industries and supports the expansion of existing businesses in the Shoals region of Northwest Alabama. It provides site development, speculative buildings, workforce training, financial incentive packaging, and customized concierge services to companies considering new or expanded facilities.

Product overview

Shoals Economic Development Authority operates as a public/private partnership offering a portfolio of economic development programs and industrial real estate properties. The core offerings include workforce development incentives (Employment Growth Program, Code Alabama), talent attraction initiatives (Remote Shoals Program), and music industry incentives (Shoals Music Makers). These programs are complemented by industrial site development services and a portfolio of speculative buildings including the Shoals Research Airpark (250,000 SF with expansion to 500,000 SF), Florence-Lauderdale Industrial Park (150,000 SF building), Barton Riverfront Industrial Park (expanding to 131 acres), and a 27,500 SF spec hangar for MRO development. The organization connects companies with private sector and government resources to support relocation and expansion decisions.

Differentiator

Problem solved

Functional benefit

Brands

• Remote Shoals: Program that brings remote workers into the community who contribute to the local economy
• Shoals Music Makers
• Employment Growth Program

Products and services

• Shoals Research Airpark A 700+ acre industrial airpark with an 8,000-foot commercial runway owned by the Authority, providing aerospace and defense companies with runway access, shovel-ready sites, and infrastructure in the Shoals region.
• Florence-Lauderdale Industrial Park A large industrial park with rail access offering industrial sites for manufacturers seeking to locate or expand in the Shoals region of Northwest Alabama.
• Barton Riverfront Industrial Park A riverfront industrial park on the Tennessee River near the Port of Florence with rail connectivity, suitable for heavy industry, manufacturing, and logistics users.
• Shoals Spec Hangar A speculative, pre-built aircraft hangar at the Shoals Research Airpark designed for aerospace and aviation companies seeking ready-to-occupy facilities.
• Employment Growth Program A workforce development and incentive program that provides customized recruitment, screening, and training services to companies expanding in the Shoals region.
• Remote Shoals Program A remote-worker attraction program designed to recruit remote employees and their families to relocate to the Shoals region of Northwest Alabama.
• Code Alabama A software developer recruitment program aimed at attracting programming talent and technology employers to the Shoals region.
• Shoals Music Makers A music industry attraction and retention program designed to recruit musicians, producers, and music-related businesses to the Shoals region, leveraging the area's heritage as a recording destination.
• Concierge Site Selection Services Confidential, customized site search and selection support provided at no charge to corporate prospects, including workforce analysis, demographics, financing and incentives, and coordination with utilities and local governments.

Quantifiable outcome

• 11 companies participated in Employment Growth Program creating 51 new jobs with average entry-level wage of $18/hr
• +3 more outcomes

Named customers11 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

19 partnerships are on record, tiered minor and core.

• Doster Program ManagementminorImplementation/ SI/ Consulting Partner · 27 September 2023Program management firm overseeing speculative building construction projects including the 150,000 SF and 250,000 SF spec buildings.
• Tennessee Valley Authority (TVA)coreStrategic or Co-development PartnerTVA provides economic development support through InvestPrep grants and partnership on workforce development initiatives. TVA works in partnership with Shoals EDA to support companies and foster job creation in the region.
• Norfolk SoutherncoreStrategic or Co-development PartnerNorfolk Southern provides rail connectivity to the Shoals Research Airpark and has designated the park as a Platinum REDI Site. Their rail spur and network access are critical for industrial development.
• Economic Development Association of Alabama (EDAA)coreStrategic or Co-development PartnerProfessional membership organization promoting economic growth in Alabama with 500+ members. Kevin Jackson serves on the board of directors.
• Economic Development Partnership of AlabamacoreStrategic or Co-development PartnerState-level economic development partnership supporting site designation and marketing for Alabama properties.
• Alabama Department of CommercecoreStrategic or Co-development PartnerState commerce department that administers SEEDS Act grants and Growing Alabama Tax Credit program. Secretary Ellen McNair supports Shoals initiatives.
• AIDTcoreStrategic or Co-development PartnerAlabama's workforce development agency providing training and workforce solutions for new and expanding industries.
• University of North AlabamacoreStrategic or Co-development PartnerPartner on Code Alabama coding bootcamp and workforce development programs. UNA hosts summer camps and provides educational resources.
• Northwest Shoals Community CollegecoreStrategic or Co-development PartnerCommunity college partner offering workforce training programs including Alabama Career Essentials and career/technical skills for high school students.
• City of FlorencecoreStrategic or Co-development PartnerLocal government partner in Florence-Lauderdale Industrial Park development and city operations.
• City of Muscle ShoalscoreStrategic or Co-development PartnerLocal government partner hosting Shoals Research Airpark and supporting industrial development.
• City of SheffieldcoreStrategic or Co-development PartnerLocal government partner in the Shoals region with Sheffield Utilities and industrial park participation.
• City of TuscumbiacoreStrategic or Co-development PartnerLocal government partner in the Shoals region contributing to regional economic development efforts.
• Florence- Lauderdale Industrial Development BoardcoreStrategic or Co-development PartnerLocal development board supporting industrial expansion and stormwater improvements for Florence-Advantage Site.
• Shoals Manufacturers AssociationcoreStrategic or Co-development PartnerAssociation collaborating with EDA to promote business environment for local manufacturers and facilitate expansion opportunities.
• Retirement Systems of AlabamaminorStrategic or Co-development PartnerState pension system with economic development investments and property holdings in the region.
• Florence Electricity DepartmentcoreOthersMunicipal utility providing electricity services to support industrial operations in the Florence area.
• Muscle Shoals Utilities BoardcoreOthersMunicipal utilities board serving Muscle Shoals area with infrastructure for industrial customers.
• Sheffield UtilitiescoreOthersMunicipal utilities serving Sheffield area supporting industrial development.

Scale indicators12 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Birmingham Business Alliance: Regional economic development partnership serving the Birmingham metro area in Alabama. Comparable to Shoals EDA in structure (public/private partnership), function (industrial recruitment and retention), and customer base (manufacturers and corporate site selectors).
• Northwest Indiana Forum: Regional economic development organization serving Northwest Indiana with heavy manufacturing focus (steel, logistics, automotive). Comparable as a multi-county industrial EDA with similar mid-sized industrial park portfolio and rail-served site offerings.
• Mobile Area Chamber of Commerce: Regional economic development organization serving Mobile, Alabama, with significant industrial recruitment activity in aerospace, automotive, and steel. Directly comparable in mission, structure, and target industry overlap.
• Greater Phoenix Economic Council: Regional EDA serving Greater Phoenix with significant industrial recruitment activity. Comparable in function (corporate recruitment, site readiness, incentive packaging) and customer base (manufacturers and corporate facility projects).
• Research Triangle Regional Partnership: Regional economic development organization serving the Research Triangle region of North Carolina. Comparable as a regional EDA performing multi-county industrial recruitment, workforce development, and incentive coordination for manufacturers and technology companies.
• Huntsville/Madison County Chamber: Regional economic development organization in North Alabama that recruits industrial and aerospace companies to Madison County. Directly comparable to Shoals EDA as an Alabama-based EDA targeting manufacturing, aerospace, and advanced industry recruitment with similar incentive and site-readiness offerings.
• Greater Omaha Chamber Economic Development: Regional economic development arm of the Greater Omaha Chamber targeting manufacturing, finance, and technology employers. Comparable as a mid-market regional EDA with similar structure and target industry mix including manufacturing and emerging tech.
• Detroit Regional Partnership: Regional economic development organization focused on automotive and advanced manufacturing recruitment in Southeast Michigan. Comparable in automotive supplier focus, manufacturing-heavy customer base, and large-scale industrial site marketing.
• Greater Cleveland Partnership: Regional economic development and chamber organization serving Northeast Ohio. Comparable in scope (multi-county industrial recruitment), target industries (manufacturing and advanced industries), and public-private structure.

Broad incumbents

• Tennessee Valley Authority (Economic Development): Federal corporation providing economic development support across the multi-state Tennessee Valley region, including InvestPrep grants. Serves as both a strategic partner to Shoals EDA and a broader regional EDA with overlapping workforce and industrial development programs.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/i/flow/login?redirect_after_login=%2FShoalsEDA
• YouTubeyoutube.com/shoalseda
• Facebookfacebook.com/shoalseda
• LinkedInlinkedin.com/company/shoals-economic-development-authority
• Instagraminstagram.com/theshoalseda

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shoals Economic Development Authority