Each organization provides financial benefits like tax-exempt bonds, sales tax breaks, mortgage tax exemptions, and property tax reductions to help businesses grow. While the IDA supports various industries, the CRC focuses on civic projects like airports, recycling facilities, and transportation infrastructure. To qualify, businesses must follow specific spending guidelines, including “Payment In Lieu of Taxes” (PILOT) programs, which allow businesses to save in one area by spending in another. Other incentives can reduce costs on construction materials and mortgages, ultimately lowering expansion expenses for eligible companies.
