Our Industrial Development Authority establishes incentives and policies for businesses to locate and grow in Westmoreland County.
The Westmoreland County IDA issues tax exempt Industrial Development Bonds (IDB) to finance new manufacturing plants or improve existing ones. IDBs are an attractive alternative to conventional financing.
- Lower interest rate. Interest earned on IDBs is exempt from federal income tax, so rates are lower than conventional loans.
- 100% financing. You can fund 100% of project costs, up to $20 million.
- Long-term financing. IDBs may have an average maturity of up to 120% of the economic life of the financed assets.