County of Franklin - Industrial Development Agency

The powers of the CFIDA allow it to impact economic growth through the issuance of taxable and tax-exempt industrial revenue bonds. Under current legislation, the CFIDA can issue up to 10 million dollars in tax-exempt industrial revenue bonds for the construction, acquisition, and installation of machinery and equipment for manufacturing companies. The CFIDA can also issue taxable bonds with no cap limit. As part of the Industrial Development Agency's legal capabilities, projects assisted by the Industrial Development Agency are exempt from real property taxes, mortgage recording fees, and sales and use tax. These taxes are typically abated with projects that have a positive economic impact on the community.