Industrial Revenue Bonds

Summary

Sales tax exemption on construction materials, or property tax exemption for non-EDX industries.

Purpose

Obtain sales tax exemption on construction materials; realize a real property tax abatement on non-EDX type companies (limitations apply for retail)

ED Tool Type

Exemption of real property taxes on improvements to land and buildings; exemption of sales taxes on project construction materials

Assistance

  • For tax abatement, 50% base exemption with extra percentages awarded if additional policy criteria met

  • Up to 10 years for property tax abatement

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