The Economic Development Board (EDB) for Tacoma-Pierce County staffs the Economic Development Corporation of Pierce County (EDCPC) by contractual agreement.
Tax-exempt financing issued through the EDCPC is available to qualifying companies. These Industrial Development Revenue Bonds (IDRB) offer manufacturing and processing companies below-market interest rates for eligible uses, such as purchasing land or equipment, constructing buildings, and/or upgrading existing facilities.
Industrial Development Revenue Bonds
If your business is building or expanding manufacturing facilities or processing facilities, Industrial Development Revenue Bonds may be a good option for you. Administered by the Economic Development Corporation of Pierce County, these bonds are low interest and tax-free.
One of the big benefits of this type of financing is that the bank or bond purchaser doesn’t have to pay any income tax on the interest they earn. As such, they can accept a lower interest rate, which in turn is passed on to you, lowering the cost of borrowing.
To accommodate the approval of the 2020 EDCPC Board of Directors the February EDCPC Board of Directors meeting originally scheduled for Friday, February 14, 2020 has been canceled. The meeting is to be rescheduled for an open to the public conference call on April 10, 2020 from 9am-10am.
Ask us if an IDRB is right for you.
Economic Development Manager