With energy costs increasing, more energy efficiency projects may be cost effective. HCECDA economic development partners TVA, our two power distributors, USDA Rural Development, area universities, and Tennessee Economic & Community Development offer programs to help identify and to help pay for projects to make your business more energy efficient.
For example, Tennessee Department of Economic & Community Development Energy Division has the Tennessee Small Business Energy Loan Program. This program offers a FREE energy audit to identify and quantify energy savings projects. Replacing inefficient heating, air-conditioning, old refrigeration units, motors, or other processing or manufacturing equipment. Even updating lighting can bring significant savings.
Here is the really cool part, they offer a low-interest loan program – up to $100,000 for a maximum of 7 years at 3% interest to finance these money-saving efficiency upgrades. But the really, really cool part — businesses in Three-Star communities (yes, Hickman County just re-certified in the Three-Star program) qualify for 0% interest on the loan.
If you are a business or industry located in Hickman County, contact me for more information.