Economic Development Revenue Bonds
Also termed an industrial revenue bond (IRB), this bond issue is sponsored by the County but the proceeds are directed to a private, for-profit business, allowing the company to benefit from the government's status as a tax-exempt entity. Most applicable to manufacturing.
Private Activity Bonds (Tax Exempt or Taxable)
Qualified private activity bonds are tax-exempt bonds issued by a state or local government, the proceeds of which are used for a defined qualified purpose by an entity other than the government issuing the bonds.
Business Development Loan Fund for Women, Minorities and Veterans (Microloan)
Tax Increment Financing
Available within Tax Increment Financing (TIF) District(s). The County may issue bonds to pay for infrastructure for a new or expanding development in the designated area(s). The debt is repaid by the additional increment of taxes generated by the new project and increased assessments in the TIF District. Almost all infrastructures within the designated area(s) are eligible.
Targeted Industry Loan Fund
This fund offers loans to eligible companies relocating or expanding businesses within targeted industries. Intended as gap financing. Up to $100,000 and 15 year repayment, below prime rate.
* IRBs and private activity bonds are subject to special IRS requirements.
Views from Charles
For our latest edition of “Looking Local,” we spoke to Richard Fray, co-founder of Dat Jerk Caribbean Chargrill, located in Waldorf.
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Chief of Business Development
Charles County EDD
10665 Stanhaven Place
White Plains, MD 20695
“We are proud to be a key part of Charles County’s future and we heartily encourage other, cutting-edge companies to join us.”
Chief Executive Officer
Competitive Power Ventures
“Charles County’s strategic location in the DC Metro region affords us networking and business opportunities with some of the top names in our industry."
Director of Business Development