Industrial Revenue Bonds

Industrial Revenue Bond financing is a method of funding that can assist private business development and expansion by utilizing low-interest tax-exempt bonds. The low-interest feature of industrial revenue bond financing is attributed to the fact that the interest on the bonds is exempt from federal and state income taxes. Interest rates from 70% to 75% of the prime market rate are typical but may vary. The actual rate is negotiated between the buyer and the seller of the bonds.

The City of Erie’s Department of Economic and Community Development partners with the Erie County Redevelopment Authority on projects that benefit from this financing tool.

  • Land Acquisition
  • Building Acquisition
  • Equipment
  • Renovation
  • Remodeling
  • Site Preparation
  • Machinery
  • Construction
  • Restoration
  • Preliminary Expenses
  • Other Development Costs

  • Favorable interest rates
  • Long term loans
  • Provides critical gap funding
Translate »