industrial revenue bond

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Related to industrial revenue bond: Industrial Development Revenue Bonds

Industrial revenue bond (IRB)

A bond issued by local government agencies on behalf of corporations.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Industrial Revenue Bond

A tax-exempt municipal bond in which a local government entity is seeking to raise money for a private company. It may be used, for example, to build a factory or some other facility on behalf of a private company. A municipality issues an industrial revenue bond when it wishes to attract a business and the jobs in brings to the area, especially when the business may be otherwise unable to obtain financing for the project. The municipality issuing the bond must be able to prove that a public benefit will be derived from the industrial revenue bond in order to qualify for tax-exempt status.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

industrial revenue bond

Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
This may have a positive impact on local economies as it will foster the issuance of industrial revenue bonds to all sectarian educational institutions, thus stimulating construction projects and investment throughout the United States.
The Jonesboro City Council recently approved issuing up to $41 million of industrial revenue bonds for Unilever to pay for an expansion that will add about 125 workers.
28 June 2010 - S&P on Friday upgraded to A from BBB+ its long-term rating on Lake Martin Area Industrial Development Authority, Alabama's industrial revenue bonds, series 2009, issued on behalf of Tallapoosa County.
Alternative funding, whether through the port's Industrial Revenue Bonds, the EDC's Revolving Loan Fund, or other programs, can augment and, in some instances, replace bank financing.
During his five-year tenure, his office completed more than $130 million in tax increment financing projects, including Gallery Place, the Spy Museum and the Mandarin Hotel; more than $3 billion in industrial revenue bonds transactions for other commercial, educational and cultural projects; and has built 13,000 units of affordable housing.
In the area of finance and incentives, the CED plays the role of resource broker, providing information and direction on a variety of programs, including industrial revenue bonds, Small Business Administration loans and state incentive programs like the Economic Development Transportation Fund.
The city has also anticipated $20 million in industrial revenue bonds.
We also did about $100 million of industrial revenue bonds when they were popular.
Under Arkansas Act 9 of 1960, cities and counties are authorized to issue industrial revenue bonds to help private companies.
The agency placed on a review for possible upgrade the company's Baa3 senior unsecured notes rating, Prime-3 short-term rating, Baa3 backed industrial revenue bonds rating, (P)Baa3 senior shelf rating, (P)Ba1 subordinated shelf rating, (P)Ba1 senior subordinated shelf rating, (P)Ba1 junior subordinated shelf rating and (P)Ba2 preferred shelf rating.

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