The FBIDC acts on behalf of Fort Bend County in offering low-interest, tax-exempt government-supplied funding to various commercial, industrial and manufacturing enterprises. With every new project, the FBIDC strives to build upon the exceptional economic environment that’s currently thriving within the county.
Fort Bend Industrial Development Corporation
Why is Industrial Development Funding offered?
Tax-exempt bonds and funds provided by the FBIDC are meant to encourage business relocation, development, and expansion in order to increase economic welfare, growth, and overall employment.
How can I utilize funding?
Federal law limits tax-exempt financing directly to entities engaging in private activities. However, government issuers, such as the FBIDC, are able to access private equity bonds on behalf of private companies as a means of lowering borrowing costs associated with a business expansion and stimulating economic growth for the community. The amount of financing available for these activities is generally limited to industrial projects 10 million or under and dependent on annual allocations made available through the Texas Bond Review Board for qualifying projects. In certain cases federal programs from time to time may also provide allocations for assignment (e.g. hurricane disaster recovery zones). Once an allocation for a project is approved, the FBIDC acts as a conduit financing agency between private lenders and private borrowers where proceeds from the transaction are considered tax exempt, lowering the cost of capital for the borrower and increasing the value of the proceeds for the lending institution.
Making application for funding:
Fort Bend County is known as Region 6 – Gulf Coast within the thirteen Uniform State Service Regions of Texas. For more information on private activity bonds and to apply for funds, visit the Texas Bond Review Board’s website at: http://www.brb.state.tx.us. The Fort Bend Industrial Development Corporation application for financing can be downloaded here.
For more information about Fort Bend County, please contact Jeff Wiley at 281-340-1902 (jwiley@fortbendcounty.org) or Jack Belt at 281-340-1905 (jbelt@fortbendcounty.org)
