What is a Tax-Exempt Industrial Development Revenue Bond and what types of businesses can use them?
Tax-Exempt Industrial Development Revenue Bonds, available to qualified manufacturers, are issued through the Macomb County Economic Development Corporation to provide low-interest financing for investments of $1.25 million or more (up to $20M). Bond proceeds may be used to finance fixed assets (real and personal property). The bonds are limited obligations payable solely from revenues or other funds provided by the manufacturing company. The first step in securing IDRB financing is to obtain a letter of credit from a bank or other rated financial institution. To learn more about IDRB financing and determine whether your planned investments qualify, contact the EDSG at 586.469.5285.
Related Questions
- Fixed wiring tests are required by various types of businesses such as caravan sites and industrial premises. Why would I need a fixed wiring test?
- What can be financed with Tax-Exempt Industrial Development Revenue Bonds and what benefit does it provide?
- What is a Tax-Exempt Industrial Development Revenue Bond and what types of businesses can use them?
