Applicants of the Manufacturing Facility Program (also known as IDBs or IRBs) are manufacturing facilities who are interested expanding their business. Size of the expansion, the number of new jobs, and high wages are important factors in weighing the approval of the application.

There is a cap of $10,000,000 for each allocation request.  The $10,000,000 limit applies to the sum of the face amount of the bonds to be issued and the remaining principal amount of all prior small issue bonds. The project must comply with the following Internal Revenue Codes:
1. Capital expenditure limitation of $20,000,000 if the par amount of proposed bonds together with prior outstanding issues (outstanding principal balance) is in the same jurisdiction.
2. The sum of all other industrial development revenue bonds used by the developer cannot exceed $40,000,000 nationwide.

The bond proceeds cannot be used to refinance debt, inventory, or operating capital. For more information regarding manufacturing bonds, please view the Manufacturing Facility Application Guidelines (PDF) and Policies & Procedures for Manufacturing Facility Applications (PDF).

Manufacturing tax-exempt bond allocations face a one-year period to close; January 1 to the third Saturday in December of the same year. It is essential to have the necessary financing steps completed at the time of submission.

Applicants must submit three (3) copies (two (2) paper copies and one (1) electronic copy on a CD) of the application, including appropriate fees, on or before the deadline for the target board meeting. Each application is thoroughly reviewed by an analyst and staff before it is submitted for approval to the Private Activity Bond Review Board. Missing information or fees may delay the application process.

Funding for approved manufacturing projects is available upon receipt of the volume cap certificate, usually 1-3 business days after the Private Activity Bond Authority Board Meeting. 

Please complete the Manufacturing Facility Application (PDF) (Word) and submit it to Roxanne C. Graham or call (801) 538-8699.