Financial Resources
Economic Development Authority of Montgomery County
Industrial Development Bond Program
To carry out its purposes of promoting industry, developing trade and commerce, the Montgomery County, VA Economic Development Authority (MCEDA) has the authority to issue industrial revenue bonds to be used in financing the acquisition, construction or equipping of various types of facilities in Montgomery County, Blacksburg and Christiansburg. In order to qualify, a facility must be one of the following: (1) a non-profit 501(c)(3) entity; or (2) a for-profit "manufacturing facility," as defined by the IRS Code. The maximum bond issue is $10 million per company in any political subdivision with a nationwide corporate limit of $40 million in outstanding IDBs.
Interest on qualified bonds issued by the MCEDA is exempt from taxation under the Internal Revenue Code. The availability of this tax benefit generally results in a lower interest rate for the user of the borrowed funds. It is important to note that the revenue bonds do not constitute a general obligation of the MCEDA, nor will the full faith and credit of Montgomery County or the Commonwealth of Virginia be pledged to the payment of any such bonds.
For more information, contact:
Economic Development Authority of Montgomery County, Virginia
755 Roanoke Street, Suite 2H
Christiansburg, VA 24073-3184
P: (540) 382-5732
F: (540) 381-6888