Through the CCDA, commercial manufacturing and industrial facilities and non-profit entities can attain tax-exempt bonds for expanding or launching their business in Clay County.
Interest paid on these bonds is exempt from both federal and state income taxes, allowing borrowers to take advantage of lower interest rates for lower overall finance costs. Bond amounts range from $2 million to $10 million and can be used for a variety of eligible projects, including acquisition, construction, equipping or improving land, buildings or equipment for industrial or manufacturing plants. In addition, the following types of projects may qualify for tax-exempt IRBs if they are part of a manufacturing operation or located in a Recovery Zone:
- research or development
- agricultural processing or storage
- warehousing and distribution centers
- headquarter facilities
- and a variety of other projects.
Your project must fulfill a benefit to Clay County and its residents, either through job creation or retention, increased tax revenue or improved quality of life.
Learn more about the CCDA bond process.