Bonds

Industrial Development Revenue Bonds (IDRBs) provide a source of long-term, below-market-rate financing for new and expanding manufacturing facilities. The recommended minimum is $3 million and the maximum is $10 million, but because the interest for IDRBs is exempt from federal income tax, the interest rate is generally lower than conventional debt financing. Proceeds from IDRBs may be used to finance fixed assets and qualified costs associated with the bond-financed projects.

The Lee County Industrial Development Authority serves as the initial entry point into the Industrial Development Bond application process.

Enterprise Bonds are pooled, tax-exempt Industrial Development Bonds (IDRBs) which provide a cost-effective means for manufacturers and processors to access public bond markets, particularly for smaller projects that often have limited access to the bond market. The minimum is $500,000 and the maximum is $2.5 million. Fixed interest rates are subject to market conditions, but tax-exempt rates have historically been well below prime.

The Florida Development Finance Corporation of Enterprise Florida, Inc. serves as the initial entry point into the IDRB application process. Information and bond application for an IDRB applicant are available through the Fort Myers Regional Partnership, Lee County's Economic Development Office.

To review the rules and regulations pertaining to IDRBs:

Industrial Development Revenue Bond Guidelines

For more information about IDRBs, including a printed brochure, contact the Fort Myers Regional Partnership at 800.493.4396.