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Industrial Development Authority

of Jefferson County

The Industrial Develoment Authority of Jefferson County (IDA) was created in 1979 as an affiliate of the the Economic Development Corporation of Jefferson County.  The Authority was established to assist in the growth and development of Jefferson County through the issuance of tax-exempt, industrial revenue bonds (IRB's) for use by industrial, commercial and multi-family entities.  Since its inception, the IDA has issued approximately $245,750,000 in revenue bonds which have resulted in the creation of nearly 10,000 jobs in Jefferson  County, as well as much needed affordable housing.  The IDA assists manufacturers with financial packages to purchase land, build or improve buildings and to purchase machiner and equipment.  Financing through the IDA is normally at a rate less than the current prime rate.  The IDA works closely with a tem of qaualified financial professionals whose goal is to process bonds in a timely, accurate and cost-effective manner.

The Jefferson County IDA is made up of a Board of Directors and meets on an "as needed basis" in order to provide service to interested businesses.

Industrial Revenue Bonds are a finance option that may be available to manufacturers that are creating or retain jobs.  Using tax-exempt means, IRB's offer businesses an effective lower interest rate than they would recieve through convential financing methods.

How they work - An IRB is a security issued by a city or county to provide funds to purchse land, pay construction and equipment costs; or to purchase/remodel/expand an existing facility.  Multi-family housing IRB's are also available but are for the benefit of housing projects.  These bonds can be either taxable or tax-exempt.  Refer to RSMo Sections 103.500 through 108.532 for further details.

Bond financing resembles standard notes & mortgage loans. A lender (Bond purchaser) agrees to lend funds (Bonds) to a company.  The facilities or equipment financed by the revenue bonds are typically mortgaed to secure the payment of the loan.  In many cases, the repayment schedule is structured similar to that of a typical mortgage loan.  Because of the Industrial Develoment Authority's  interest in job & business creation, the IDA serves as the conduit for the bond issuance.  In this capacity, the IDA re-lends the bond proceeds to the company.

The IDA will consider any proposed project for the issuance of Industrial Revenue Bonds that meet the following criteria:

  1. Results in the creation of new employment opportunities or the retention of existing employment;
  2. Result in an increase of the local tax base;
  3. Will extend the useful life of an existing facility;
  4. Will have a positive impact on trade and commerce in general within Jefferson County.

For more information on the Industrial Development Authority of Jefferson County or to inquire into a bond issuance, please contact our office.  We have provided an electronic version of our application, fee schedule and procedures.  

 

Click here for IRB Procedures  

Click here for IRB Fee Schedule  

Click here for IRB Application