U.S. Senator Richard Shelby (R-AL), a member of the Financial Services Appropriations Subcommittee, announced subcommittee approval of the fiscal year 2008 Financial Services Appropriations bill. The legislation includes funding for several projects in Alabama. Following today’s action by the subcommittee, the bill will now go to the full Appropriations committee for consideration.
Tuscaloosa Federal Building - $21 Million
Congress has already appropriated $42 million for the construction of a new federal building. The additional $21 million will allow the General Services Administration to complete this project.
"The new Tuscaloosa Federal Building will bring critical security enhancements for a facility that will house the Federal Bureau of Investigation, United States Courthouse space, and Congressional offices,” said Shelby. “The current building is outdated and lacks the necessary security features to protect key federal offices and employees.”
University of Alabama, Culverhouse College of Business, Alabama Entrepreneurial Research Network (AERN) - $300,000
The AERN works to enhance small business development and entrepreneurial activities in rural Alabama.
“Small businesses are the engine of our nation’s economy,” said Shelby. "This important program provides entrepreneurs with the skills, knowledge, and resources necessary to identify and leverage opportunities to create new businesses. The AERN will target counties with a declining population, low business start-up rates, and stagnant economies. A program that encourages local business formation is a tool for substantial, long-term economic improvement.”