The arrest came after the Cherokee County Sheriff's Department received a tip that an area businessman was conspiring to have a local convenience store burned.
A motive for the arson was not released by the investigators.
Jeff Thomas Jordan, 63, of Jordan Drive in Centre was ultimately arrested in the case.
Authorities say in addition to Jordan's arrest, $3,000 in cash and a 2008 Chevrolet pick-up truck were also seized.
Jordan was arrested without incident and placed in the Cherokee County Jail.
Both charges against Jordan are Class C Felonies.
ON THE PHONE -
If you have any suspicion of arson please contact the Alabama Arson Hotline at 1-800-654-0775.
PHOTOS SOURCE: Cherokee County Sheriff's Department