Incentives

Industrial Sites Reuse Program

Supplies grant and low-interest loan financing to perform environmental site assessment and remediation work at former industrial sites.

Eligibility: Public entities, private non-profit economic development entities and companies involved in reuse of former industrial land; Entities that did not cause or contribute to environmental contamination

Uses: Phase I, II and III environmental assessments; Remediation of hazardous substances

Amounts: Grants and loans up to $200,000 for environmental assessments; Grants and loans up to $1 million for remediation

Terms: Interest rates of 2%; Terms up to 5 years for assessments and 15 years for remediation projects; A 25% match is required for grant and loan projects.

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