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Industrial Development Authority
(Bonding the Future of Cape County)
Our History
Est. 1977 by the Missouri Legislature
In 1977, the Missouri Legislature adopted the Industrial Development Corporation Act which provides for the establishment of industrial development corporations by county and municipal governments. Under the provisions of the Act, the Industrial Development Authority of the County of Cape Girardeau, Missouri (the IDA) was incorporated.
Two years later, in 1979, the Industrial Development Authority of Cape Girardeau County was created as a quasi-public non-profit corporation. It is the single largest governmental income-producing entity in the history of Cape Girardeau County, second only to the County Government itself.
An Economic Alternative
This webpage can help explain the advantages of and the procedures for obtaining industrial revenue bonds through the IDA to provide fianancing for the expansion of industries and job opportunities within Cape Girardeau County.
Obtaining Industrial Revenue Bonds is an economical alternative for credit-worthy companies planning to construct, expand, equip and re-equip existing facilities.
Advantages of IDA Bonds
Industrial Revenue Bonds through the IDA can cover a substantial amount of your expansion needs:
- Land Costs
- Manufacturing
- Multi-Family
- Not-for-Profits
- Port & Warf Facilities
- Terms to 30 years or longer
- Lower Interest Rates
- Payment can be structured to cash flow
100% Project Financing allows depreciation and investment credits.
Eligible Projects Can Include:
(but are not limited to)
- Purchasing
- Enlarging
- Constructing
- Improving
- Re-Constructing
- Furnishing
- Operating
- Equipping
- Leasing
- Maintaining
Do You Qualify?
Application to and the necessary approval must be obtained from the Industrial Development Authority of Cape Girardeau County before Revenue Bonds will be issued. Financing through the use of IDA Revenue Bonds is regulated by statutes (both Federal and State of Missouri) and thus restrictions apply. Application must be completed prior to commencement of project.
Additional information on the benefits and the restrictions/laws of IDA Revenue Bonds will be made available upon the request to the IDA.
An application requesting the issuance of IDA Revenue Bonds must be submitted in writing on the application forms available at the IDA office.
The application shall be accompanied by the appropriate financial information and a nominal, non-refundable filing fee. With the filing fee, the IDA will provide up to three (3) hours of free legal service and advice to the applicant and/or the applicant's bond counsel. The filing fee will be used to defray any costs incurred by the IDA in processing and the reviewing the application and other documents relative to the proposed bond sale.
In reviewing the application, the IDA will concern itself with the applicant's financial responsibility, the type of proposed business activity, the nature of improvements to be financed, the marketing of bonds and the economic benefits to be derived by the County.
Refinance Existing IDA Bonds
Do you have existing IDA Revenue Bonds? When an IDA Revenue Bond is reissued or refinanced, businesses are often able to save thousands of dollars, depending on the size and interest rate at the time of issue.
The very attractive interest rates available make this a very easy, realistic business decision. Combining old and new bonds can be financially feasible and beneficial.
If your company has expansion plans on the horizon or if you have outstanding bonds, refinancing may be what you need. You may want to seek advice from a qualified Bond Counselor. Let us know if you need help. We are ready to assist.
Past IDA Bond Users
Many Area companies have used IDA Revenue Bonds
- Biokyowa
- Chateau Girardeau
- Clarklift
- Community Counseling Center
- Drury Industries
- Foundtainbleau of Cape Girardeau
- Interco
- Perryville Steel
- Prock Construction
- Proctor and Gamble
- St. Francis Medical Center
- Southeast Missouri Hospital
- Thorngate, LTD.
Contact Us Today!
If you have a project which would bring new jobs, business and economic growth to Cape Girardeau County, why not see if your project qualifies for Industrial Revenue Bonds?
1267 N. Mount Auburn Road
Cape Girardeau, MO 63701
573.335.3312
Working Together to Bond the Future of Cape County:
Inustrial Revenue Authority
Cape Girardeau Area Chamber of Commerce
Cape Girardeau Area MAGNET
Jackson Chamber of Commerce
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