Companies as diverse as Federal Express and the UT Medical Group have taken advantage of the IRB Program to finance new facilities or simply maximize their growth in an ongoing cost-effective way.

How it Works
The Memphis and Shelby County Industrial Development Board is authorized to issue Industrial Revenue Bonds (IRBs) for financing industrial facilities. Industrial development bonds at the 10 percent minimum tax are available for manufacturing operations. Taxable bonds can be issued for distribution facilities or other projects that are ineligible for the minimum tax financing.

Eligibility and Limitations
The strength of the company being financed at the time the bonds are taken to market will determine the rate of the bonds. There is a $10 million cap on small issue bonds; however, there are a number of categories of projects or project components that may be exempted from this limitation. Due to federal tax regulations associated with revenue bonds, it is important to research your options through consultation with a bond counsel. It is also important to obtain the backing of the bonds by a letter of credit from a strong financial institution. The Board is prepared to act on an application several weeks after it is submitted. Call 901-576-7107, or contact us online to find out if your company qualifies for IRB Program savings. Or, read case studies about how companies such as the UT Medical Group have benefitted from the IRB program.

IRB Application Procedures (.pdf)
IRB Information, Statement of Intent (.pdf)
IRB Bond Policy (.pdf)

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