Industrial Development Board (IDB)

Members

The IDB is governed by a 7-member Board of Directors, appointed by the Maury County Commission.

  • Julius Johnson, Chair
    Term expires: January 2029
  • Teresa Sparks, 
    Term expires: January 2028
  • Bill White
    Term expires: January 2026
  • Bill Walter, 
    Term expires: January 2027
  • Dr Janet Smith
    Term expires: January 2027
  • Stewart Parker
    Term expires: January 2024
  • Mike Penrod
    Term expires: January 2028

Industrial Development Board of Maury County

Overview

The Industrial Development Board of Maury County, Tennessee, was created by the Maury County Commission in 1965. The current board has a combined 292 years of business experience and is committed to sound decision-making for the citizens of Maury County.

Mission

The mission of The Industrial Development Board (IDB) of Maury County is to retain and expand the jobs base and attract diverse new companies, industries and investment that will increase opportunity and provide good jobs throughout Maury County for the economic benefit and quality of life of all of our citizens.

Services

The IDB's work is focused on partnerships with community leaders and elected officials to speak with one strong voice and one clear message to prospective companies and industries considering an expansion, relocation or new project in Maury County. This includes the review, consideration and issuance of incentives for expansion, relocation or creation of businesses that will make a significant contribution to the County's employment and tax base.

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.

Incentives

The amount of qualified incentives, to both new industry and expanding industry, is directly related to the IDB's focus, consideration of the following incentive factors, and the company's commitment to:

  • Average Wage
  • Business Sector
  • Capital Investment
  • New Jobs
  • Other requests deemed pertinent by the IDB

Incentive requests are considered on a case-by-case basis by and upon an application request submitted for the IDB's consideration. For an application, and to determine the incentive package your project may qualify for, please contact the Maury County Chamber and Economic Alliance.

History

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.

Taxes/Financing

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.