What is the difference between the IDA, the LDC and the CDC?
The Industrial Development Agency (IDA) owns and develops property (industrial parks and buildings) and provides financial assistance to qualifying projects by issuing bonds, or by providing a PILOT Agreement (payments-in-lieu-of-taxes) and tax exemptions.
The Local Development Corporation (LDC) administers a revolving loan fund, and is a gap financer with the economic development objectives of investment and job creation and retention.
The Civic Development Corporation (CDC) issues tax-exempt bonds to finance civic facility projects such as colleges, libraries, hospitals and research institutions.
How does a bond issue work?
A bond is a promise-to-repay a loan. The issuer is the borrower (debtor), the holder is the lender (creditor), and the coupon is the interest. Bonds are issued to provide the borrower with external funds to finance long-term investments. The IDA has the power to issue bonds to assist eligible business projects in Franklin County.
Where can I get demographics?
Please visit our Facts and Figures page for links to economic and demographic data about Franklin County.
Are grants available from the IDA, LDC, of CDC?
No, these entities are not grant funding agencies.
What buildings are available for lease or sale?
Please visit our Projects and Opportunities page for available sites in Franklin County.
What if I only want to borrow a small amount of money?
What job training programs are available?
There are many organizations in and around Franklin County which can assist you with job training. Please visit our Business Resources page for more information.