Mission & Operations
The Gadsden-Etowah County Industrial Development Authority was created in late 1984 by City of Gadsden elected officials and Chamber of Commerce business executives, 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 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 have provided financial support through their contributions to Partnership 2000 and to Horizons 2012, community improvement initiatives of the Chamber of Commerce and the IDA.
The following is based on community needs assessments, consultant studies, strategic planning, and benchmarking activities. It provides direction for the IDA’s annual plans, budgets and operations; reflects the desires of local government; and is subject to modification by the board of directors as circumstances dictate.
Improve the economic well-being of the Gadsden area and its citizens through expanding and diversifying the industrial base.
- Create more and better jobs for residents.
- Increase per-capita income levels, while maintaining a low unemployment rate.
- Produce additional tax revenues for local government.
- Influence the creation/retention of an average of 500 direct and indirect jobs per year.
- Focus on jobs which pay more than $12.00 per hour plus fringe benefits.
- Generate new tax revenues exceeding investments of public funds in the IDA’s budget.