The Tennesse Valley Authority (TVA) offers many assistance programs for industries located throughout their service area. For more information about these programs, visit www.tvaed.com.
Economic Development Loan Fund (EDLF)
The Economic Development Loan Fund is a low-interest loan program that may be used for gap financing for the purchase of fixed assets (land, building or production equipment). Loan amounts, terms and interest rates are dependent upon criteria such as the number of jobs created, total capital investment, and impact on the community. All loans are subject to a financial and eligibility review.
Through the Valley Advantage initiative, TVA makes direct, cash investments in major economic development projects. Valley Advantage funding for any project is based upon the economic impact of the project, as measured by a set minimum capital investment, number of jobs created, and amount of new power demand that is created within the first three years of the project. The program will only be used for projects determined to be environmentally sound and meet eligibility criteria.
Security Deposit Program
TVA and local participating power distributors can help free up business capital by assisting with electric utility deposits for creditworthy customers that meet eligibility requirements.
Economic Development Technical Services
TVA’s technical services staff can assist in making the expansion or business-planning process more efficient. Services include site evaluations, land development concept plans, economic impact analyses, supplier listings, market research and demographic data.
Energy-Use Evaluation Program
Through a partnership between TVA and its Power Distributors, a variety of services can be provided to industrial consumers to help solve energy problems and control energy costs. Such services include identifying energy efficient improvements for buildings and equipment, recommending energy-efficient construction guidelines, power quality monitoring and recommending solutions, lighting analyses and recommendations, analysis of energy management systems, consulting on HVAC systems and technologies, infrared and ultrasonic testing services, and many others.
Valley Investment Initiative (VII-E)
The VII-E program is a TVA Economic Development financial incentive for existing industry that rewards end-use power customers in targeted business sectors who make a long term commitment to the area. For qualifying customers, TVA will provide VII-E awards (paid as power bill credits) based on the customer’s five-year projections in economic categories such as capital investment, jobs created or retained, and wages paid. Power system categories and energy efficiency are also part of the VII-E award calculation to reward program participants that complement the TVA system. Companies must have purchased power for 12 consecutive months from TVA or a distributor of TVA power and meet minimum eligibility requirements.