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Industrial Development Bonds (IDBs) are tax-exempt industrial revenue bonds which are issued to offer low interest financing to qualified businesses. IDBs traditionally offer lower interest rates, long-term maturity (15 – 30 years) and are assumable. Proceeds from IDBs may be used to finance land acquisition, building construction, machinery and equipment, and other incidental costs. In addition, five percent of net proceeds may be set aside for working capital. IDB bond amounts usually start around $2M up to a maximum of $10M.
For more information on IDBs please contact an Economic Development representative at (209) 831-6490.