Industrial Development Authority
Industrial Revenue Bonds
Industrial Revenue Bonds (IRB) provide assistance to eligible firms under the single purpose, small issue section of the Internal Revenue Code. Usually reserved for projects with financing needs in excess of $1.0 million, this program provides conduit financing for eligible projects to promote commercial and industrial development in Jefferson County and, under certain circumstances, within local municipalities.
Governed by a Board of Directors, the Industrial Development Authority (IDA) may issue revenue bonds for the purpose of paying the full cost of a project or any part thereof. Eligible projects generally include construction of manufacturing facilities; fabricating plants; distribution centers, warehouse buildings, office buildings, not-for-profit nursing and retirement centers (or a combination of both); commercial facilities; multi-family housing facilities; agricultural facilities; and facilities for the prevention, reduction or control of pollution.