Industrial Development Board

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Industrial Development Board

A nonprofit, usually government-owned organization intended to promote the business community in a local area. A municipal or county government may form an industrial development board to design and implement strategies to bring new businesses to that municipality or county. For example, an industrial development board may issue a bond to pay for the construction of an industrial park, which is then marketed to potential businesses locally and nationally.
References in periodicals archive ?
Jobs using green technologies are about the closest things conceivable to a regional panacea; yet industrial development boards and economic development corporations seldom offer incentives to attract or create those kinds of jobs.
May 1 /PRNewswire/ -- The Board of Directors of Alabama Power Company authorized entering into an agreement for the issuance of $106,790,000 principal amount of adjustable rate pollution control revenue refunding bonds by the Industrial Development Boards of the Town of West Jefferson, City of Eutaw and Town of Columbia, Alabama.
The issuance of new bonds and the redemption of the outstanding bonds are contingent upon authorization by the Industrial Development Boards and the actual closing of the sale of refunding bonds.
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