The Industrial Development Board (IDB) of Maury County, Tennessee, was created by the Maury County Commission by resolution duly adopted by the Maury County Commission April 11, 1965. The IDB was created for the purpose of attracting and promoting industry and to acquire, own, lease and dispose of properties to induce manufacturing, industrial and commercial enterprises to locate in Maury County.
The IDB performs public functions on behalf of the Maury County Government. Authorized under State law, the IDB works to promote industrial and business development and provide additional job opportunities in Maury County and the surrounding area, and to pursue the statutory objectives established for this purpose.
The IDB serves as a non-resource conduit lender for taxable or tax-free financing for industrial projects. The IDB also administers, on behalf of Maury County, a tax abatement or Payment-In-Lieu-Of-Tax (PILOT) or Tax Increment Financing (TIF), and undertakes the issuance of revenue bonds.
The IDB is governed by a 7-member Board of Directors, appointed by the Maury County Commission.