Millions of dollars and possibilities for industrial expansion could be on the line for Selma if Congress does not extend Renewal Community programs for the fiscal year budget.

The legislation is still being held up by Congress, but is expected to be addressed during the mid-November lame-duck session.

Selma and Dallas County Economic Development Authority Center for Commerce Project Manager Ann R. Love said even though the legislation hasn’t passed, businesses are still encouraged to throw their name in the ring for benefits.

“We do not know if the year 2010 will be eligible for benefits, the Alabama Department of Economic and Community Affairs is requesting that businesses submit an application, if they have a qualifying project, in the event benefits are approved,” she said.

President Barrack Obama requested Congress extend the Renewal Community programs for one year.

Much of Selma and Dallas County fall under the Southern Alabama (Black Belt) Renewal Community for the 2002 through 2009 tax incentive plan for business retention and development. The area also includes parts of Marengo, Perry, Lowndes, Butler, Wilcox, Monroe and Conecuh counties.

In Selma and Dallas County, President of the Center for Commerce Wayne Vardaman said several businesses are eligible for $400,000 to $800,000 and wage credits of up to $1,500 per employee. Those numbers, Vardaman said, add up in a hurry.

“That alone with just one extra year adds up to a lot of money,” he said. “It could mean millions.”

Renewal of the act, which ended Dec. 31, 2009, would bring tremendous potential to prospective businesses in the right parts of Selma or Dallas County.

“If someone invested in the right project like commercial business, if it’s in the right zone, they could take advantage of these benefits,” he said. “This is one of the best benefits a rural community has to compete against larger communities.”

The most beneficial plan, Vardaman said, is for the program to extend for another five to six years to help recruit new business owners and aid existing industry.

Deductions are also available for buildings and improvements placed in service in the calendar year 2010.

Applications must be signed by Selma Mayor George Evans for projects in the city or Judge Kim Ballard for projects located in the county and must be received by Dec. 1.

For more information, call 875-8365