The Shoals Economic Development Authority (Shoals EDA) strives to improve The Shoals area economy through partnerships, programs, and innovation. One of these initiatives is our Employment Growth Program (EGP). Created in 2011, this program's mission is to promote the increase of quality employment opportunities within The Shoals community. Through the EGP, we hope to encourage full-time employment growth through a streamlined process and incentive that provides assistance to eligible applicants offering new employment opportunities for Shoals citizens.
In 2022, 11 companies participated in the EGP. These applicants have created a combined 76 jobs with an average wage of $16.01/hr. We have committed $292,500 to these companies who are bringing a combined capital expenditure of ~$2.923 million. Chad Epperson, Owner/CEO of United Treating & Distribution (UTD), says the EGP has been "an excellent resource for UTD." He continues to add, the program "offers us the challenge to consistently hire additional long-term team members while allowing us to reinvest in our growing business and team."
The EGP provides reimbursement to eligible for-profit companies for hiring between one and ten full-time employees (FTE) per year. The reimbursement amount for each qualified FTE is based on the entry-level wage for the position. Eligible applicants for the EGP must operate under one of the business activities described in the North American Industrial Classification System (NAICS) shown below.
Eligible Naics Codes
- 115111 (cotton ginning);
- 22111 (electric power generation);
- 221330 (steam and air-conditioning supply);
- 31 through 33 (manufacturing (except 311811 retail bakeries));
- 423 and 424 (merchant wholesalers, durable goods, and merchant wholesalers, nondurable goods);
- 428 (rail transportation);
- 4862 (pipeline transportation of natural gas);
- 48691 (pipeline transportation of refined petroleum products);
- 48699 (all other pipeline transportation);
- 488190 (only aircraft maintenance and repair services);
- 488210 (only locomotive and railcar repair);
- 4883 (support activities for water transportation, except 48833 navigational services to shipping)
- 493 (only warehousing activity projects that provide logistics services related to the distribution of goods);
- 5111 (newspaper, periodical, book, and directory publishers);
- 5121 (motion picture and video industries);
- 412210 (record production);
- 517 (telecommunications);
- 5182 (data processing, hosting, and related services);
- 519130 (internet publishing and broadcasting and Web search portals);
- 522320 (financial transactions processing, reserve, and clearinghouse activities);
- 541330 (engineering services primarily engaged in the design, development, and utilization of machines, materials,
- instruments, structures, processes, and systems);
- 541340 (drafting services);
- 541380 (testing laboratories);
- 5415 (computer systems design and related services);
- 541614 (process, physical distribution, and logistics consulting services);
- 5417 (scientific research and development services);
- 551114 (corporate, subsidiary, and regional managing offices);
- 561422 (only inbound call centers);
- 562213 (solid waste combustors and incinerators);
- 56291 (remediation services);
- 56292 (materials recovery facilities);
- 611512 (flight training);
- 811310 (industrial machinery and equipment repair);
- 927 (space research and technology); and,
- 92811 (national security).
For each FTE employed, up to a maximum of ten (10) FTEs per 12-month period, the company will be reimbursed based on the following criteria:
Reimbursement amount breakdown
|Entry Level Hourly Wage
||Entry Level Annual Salary
|$15.00/hr- $19.99/hr||$31,200/yr- $41,579/yr||$4,000/FTE|
|$20.00/hr- $24,99/hr||$41,600/yr- $51,979/yr||$5,000/FTE|
|$25.00/hr- $29.99/hr ||$52,000/yr- $62,379/yr ||$6,000/FTE|
|$30.00/hr- $39.99/hr ||$62,400/yr- $83,179/yr||$7,000/FTE|
|$40+/hr || $83,200+/yr||$8,000/FTE|
The EGP is an application process with initial requirements:
- Eligible positions must have a starting wage of $12.00/hr.
- An eligible company may include qualified FTEs employed within 30 days prior to the date The Shoals EDA provides the company with an EGP application.
- Applicant cannot have had a reduction in FTEs in the 3 months immediately preceding submission of an EGP application.
- Applicant must be properly licensed to conduct business in Lauderdale County and/or Colbert County.
- New FTEs cannot have previously been employed by the applicant.
- Applicant agrees to forego a request for tax abatements in association with the EGP guidelines.
- Applicant is responsible for submitting proper documentation ensuring that the employment guidelines have been fully achieved.
- Payment of funds can be requested after a new FTE has been employed for 6 consecutive months.