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Industrial Development Bonds
Industrial Development Bonds are tax-exempt Private Activity Bonds issued by the Industrial Development Bond Board of the County of McMinn (IDB) on behalf of manufacturing facilities to finance qualified capital projects. Tax-free bonds are available for new projects with investment up to $10 million. Investment in real and/or personal property cannot exceed $10 million within a 3-year period or the bond will become a taxable issue. Rates normally are 70 percent (70%) of prime plus handling.
Category: Local Incentives
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The PILOT Program offers property tax abatements for businesses. The nonprofit Industrial Development Board of the County of McMinn (IDB) manages the PILOT Program and the Economic Development Authority serves as the administrative arm. Policies, procedures and applications are available by contacting the McMinn County...
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The TIF program is a financing tool used to provide public assistance to economic development projects. Incremental taxes from a designated area are allocated for debt incurred by an applicant to pay for qualifying improvements made in connection with a particular project. A TIF may...
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