The Gadsden-Etowah County Industrial Development Authority was created in late 1984 by City of Gadsden elected officials and Chamber of Commerce business leaders, and began operation in January, 1985. The IDA is an independent, private, non-profit corporation organized under Section 501 (c) (6) of the Internal Revenue Code. It is directed by a self-perpetuating, volunteer board of directors composed of business and civic leaders, and is managed by a full-time professional staff.

Funding of the IDA’s work is via annual service contracts with the City of Gadsden and on occasion with other local governments. More than 100 Etowah County businesses provide financial support through their contributions to Partnership 2000 in the past, and now to Horizons 2012, a ten-year community improvement initiative of the Chamber of Commerce and the IDA.

Annual plans, budgets and operations are based on formal community needs assessments, consultant studies and internal strategic planning and benchmarking activities.

The IDA’s mission is to:

Improve the economic well-being of the Gadsden area and its citizens through expanding and diversifying the industrial base.

Goals are to:

1. Influence the creation of more and better jobs for residents.
2. Work to increase per-family income levels, while maintaining a low unemployment rate.
3. Generate additional tax revenues for local government.

Objectives are to:

1. Attract new industries to fill gaps in the economic base, capitalizing on local strengths and addressing community needs.
2. Help retain and expand existing industries.
3. Assist entrepreneurs in starting-up new manufacturing operations.
4. Support efforts to develop service-sector facilities.

Priorities are to:

1. Influence the creation and/or retention of an average of 500 direct and indirect jobs per year.
2. Focus on jobs which pay more than $10.00 per hour plus fringe benefits.
3. Produce new tax revenues exceeding allocations of local tax money to the IDA’s budget.
4. Maintain the operational capacity and flexibility to respond effectively to project requirements.
5. New industry recruitment:
1. Continue to rank among the top counties in the state in new industries.
2. Target solicitation efforts toward precision metal working, regional distribution, plastics-related, and product development/value-added assembly operations.
3. Focus on presentation, follow-up and deal-closing activities, as opposed to prospect identification and marketing.
4. Cooperate on regional development initiatives to enhance market competitiveness.
6. Existing industry assistance:
1. Regularly contact all industries to identify and help solve problems.
2. Provide information and aid to reduce operating costs.
3. Facilitate expansion plans through personal contact and work.
7. Small business formation:
1. Directly assist and support capable entrepreneurs
2. Find ways to raise seed money and risk capital.
3. Support the development of a small business incubator.
8. Collaborate with educators and industries to increase enrollment in technical training programs.
9. Identify and help develop industrial sites and buildings.
10. Administer state enterprise zones to promote corporate hiring of disadvantaged residents.