The State Industrial Promotion Council of Tamil Nadu (SIPCOT) was established with the intention of providing term loans to medium scale industries and developing industrial parks. The Corporation that has been providing valuable yeomen service to entrepreneurs in Tamil Nadu, for over a quarter of a century is SIPCOT the State Industries Promotion Corporation of Tamil Nadu. SIPCOT is instrumental in making Tamil Nadu one of the most industrially developed states of the country.

Thanks to Government's progressive policies, SIPCOT transformed numerous backward and under developed areas to become important industrial hubs of the State.  

The agency has developed over 6400 acres of industrial land in different parts of the state to cater to the growing demands of investors, with another 2150 acres under development. Plans have been drawnup for developing 20,000 acres in new sites. The agency also draws up plans and implements schemes to improve the infrastructure requirements of industrial areas to ensure higher levels of competitiveness.   

Apart from providing an entrepreneur with the complete infrastructure for growth and development, SIPCOT also extends financial assistance under Industrial Development Bank of India (IDBI) and Small Industries Development Bank of India (SIDBI) line of credit scheme. SIPCOT's wide-ranging assistance to entrepreneurs includes features like :  

*   Setting-up of industrial complexes to function as growth centres.  

*   Providing financial assistance to medium and large scale sectors.  

*   Channelising incentives for industries from State Government.  

*   Monitoring of Letter of Intent and providing Escort Services to medium and large scale industries.