The County IDB promotes industrial development and provide additional job opportunities in Knox County and the surrounding area
Jan. 14, 2020 - 4:00 PM
The County IDB performs public functions on behalf of Knox County. Authorized under State law, it undertakes financing and development of projects deemed to promote industry, trade, commerce, tourism and recreation, and housing construction. The County IDB also pursues the statutory objectives for industrial development corporations.
The County IDB serves as a non-recourse conduit lender for taxable or tax-free financing for industrial projects. They administer a County, a tax abatement or Payment-In-Lieu-Of-Tax (PILOT) program, Tax Increment Financing (TIF) and undertakes the issuance of revenue bonds (Bonds) on behalf of Knox.
Board of Directors
The County IDB is governed by an 11-member Board of Directors, appointed by the Knox County Commission. The County IDB does not have employees, and administrative and management services for the County IDB are provided by The Development Corporation of Knox County.