In 2021, the 50 states and the District of Columbia received $39.3 billion in new volume cap allocation. In 2022, the 50 states and the District of Columbia received $39.8 billion in new volume cap allocation, an increase of $422.9 million from the...

As the nation prepares to celebrate Manufacturing Day and National Farmer’s Day, CDFA is again urging federal policymakers to pass the Modernizing Agricultural and Manufacturing Bonds Act (MAMBA), which would enact bond financing reform for...

The Council of Development Finance Agencies (CDFA) is pleased to announce that Senators Brown (D-OH) and Ernst (R-IA) have introduced the Modernizing Agricultural and Manufacturing Bonds Act (MAMBA) in the U.S. Senate as S. 2723. MAMBA would...

CDFA's Modernizing Agricultural and Manufacturing Bonds Act was introduced as H.R. 3787 in the U.S. House of Representatives with bipartisan support by Rep. LaHood (R-IL), Kildee (D-MI), Feenstra (R-IA), and Evans (D-PA).

Linking development finance and food systems can be a daunting undertaking for any community. Research on the current ecosystem of food systems finance has positioned CDFA to identify key strategies for the path ahead in this work. The Food Systems...

The CDFA Annual Volume Cap Report provides an overview of volume cap trends and how private activity bonds (PABs) were used from state to state. The 2019-2020 Annual Volume Cap Report is the most comprehensive analysis of PAB volume cap trends and...

In 2011, Governor Cuomo created ten Regional Economic Development Councils (REDC) and the Consolidated Funding Application (CFA) to advance the administration’s efforts to improve New York’s business climate and expand economic growth. This 2019...

In 2018, the 50 states and the District of Columbia received $37.1 billion in new volume cap allocation, an increase of nearly $1.8 billion from 2017. Total private activity bond issuance slightly decreased from $24.86 billion in 2017 to $24.14...

Researched and written by CDFA, this is the third white paper in a series examining the potential creation of a food systems asset class that supports the market growth of local and regional food systems. This paper focuses specifically on bond...

In 2017, the 50 states and the District of Columbia received $35.3 billion in new volume cap allocation, an increase of $205.3 million from 2016. Even though total volume cap capacity was lower in 2017, total private activity bond issuance increased...

Industrial development bonds (IDBs) are a relatively unpublicized and often misunderstood source of tax-advantaged financing for business that declined in usage during the recession. Now, however, as the economy strengthens and companies begin to...

This resource deals with tax-exempt bond financing. This is a special form of financing available for construction of new manufacturing facilities, for an expansion of existing manufacturing facilities and for rehabilitation of existing...

South Carolina Jobs-Economic Development Authority Brochure on Industrial Development Bond Financing Program.

In 2016, the 50 states and the District of Columbia received $35.14 billion in new volume cap allocation, an increase of $263 million from 2015. Total private activity bond issuance in 2016 increased from 2015, climbing from $12.98 billion to $20.38...

Bond financing remains the bedrock development finance tool for economic development. Seth Crone with The Bank of New York Mellon and Lee McCormick with Community Development Associates discuss how this long-standing tool can be used today to...

New York City Independent Budget Office has examined the evolution of the roles of Build and the Industrial Development Agency in financing economic development deals for the city and the uses of the revenues the two entities generate.

New volume cap allocation in 2015 totaled nearly $34.88 billion for the 50 states and District of Columbia, an increase of one percent over the previous year. Combined with more than $58.48 in existing carryforward allocation, the total accessible...

In 2014, the 50 states and the District of Columbia received more than $34.5 billion in new volume cap allocation, an increase of 5.5 percent from 2013. This was in addition to more than $59.1 billion in existing carryforward allocation, making the...

MB Financial published this article explaining how Industrial Revenue Bonds (IRBs), also known as Industrial Development Bonds, can be an effective economic development tool.

This report, produced by CDFA for the World Bank, is intended to provide information to communities and countries interested in identifying potential financing tools for the remediation and redevelopment of contaminated industrial sites. Specific...

Lee McCormick, President of the Community Development Associates presented that CDA specializes in tax-exempt financing and New Markets Tax Credits using various samples and action items.

Mr. Russell Goings, III Senior Vice President of Hutchinson, Shockey, Erley & Co. presented the Power of Private Activity Bonds and four industrial development bonds case studies.

John Wooten of Wells Fargo Bank explains the power of tax-exempt private activity bonds.

Jason Bristol from TD Bank discusses the conditions of the Industrial Revenue Bond market and the resulting effects, in addition to discussing the future for IRB's in the state.

In 2014, the IRS released this report on information for tax-exempt and direct payment bonds issued in 2011. The first section provides an overview of the market by State. The next section discusses direct payment bond programs and presents data for...

Arthur Cohen of Hawkins Delafield & Wood LLP provides an in-depth analysis of bond finance.

This month, the CDFA // BNY Mellon Development Finance Webcast Series hosted an urgent discussion for the development finance industry about the proposed updates in the Modernizing American Manufacturing Bonds Act that was recently introduced, and...

Information on tax-exempt bonds and differences with taxable bonds is detailed by Dan Bronfman of Growth Capital Associates, Inc.

The year 2013 marked the third straight year of decline for total issuance, from a recent high point of more than $14.5 billion in 2010 to a low point of $8.8 billion in 2013. The 50 states and the District of Columbia received $32.7 billion in new...

In 2012, the 50 states and the District of Columbia received $30.87 billion in new volume cap allocation, a decrease of nearly $400 million compared to 2011. Total private activity bond issuance slightly decreased from $12.76 billion in 2011 to...

This White House report demonstrates how new game-changing technologies are reducing the cost, increasing the speed, and making it easier for entrepreneurs and manufacturers to translate new ideas into products Made in America.

The Arizona Commerce Authority provides a quick history and summary of Private Activity Bonds (PABs) and how they are used in the state.

In this presentation, Evans Paull of New Partners for Smart Growth explores creative financing models for brownfield redevelopment. Paull covers tools such as bonds, loans, grants, credit enhancements, TIF as well as case studies.

The PASCO Economic Development Council released a guidelines and procedures document on Industrial Development Revenue Bond Financing, including how the tool works and qualifications.

Aspects of bond deals for infrastructure, industrial and small business development are discussed in this powerful panel: Russell Goings III with Hutchinson, Shockey, Erley & Co., Robert Gamble with Public Financial Management, James Hamill with the...

Gary Smith with Chester County Industrial Development Authority and Sam Macrina with Manufacturing Economic Development Financing Association explain the details of financing programs available for advancing industrial development.

Sidley Austin produced this excellent primer for entities interested in accessing the U.S. capital markets. This resource provides an overview of securities regulations and laws, the offering process, compliance obligations, exempt offerings, a...

The State of California – Business Investment Guide serves as a reference document to highlight California’s strategic business advantages, new state-sponsored initiatives, incentives as well as existing technical and financial assistance programs.

Michael Paparian with California State Treasurer's Office reports on the state of energy financing, specifically with emerging or nontraditional financing models for clean energy investment at the state level. Paparian discusses financing sources...

Private Activity Bonds (PABs) provide profitable firms with capital cost savings stemming from the difference between taxable and tax-exempt interest rates. The Michigan Strategic Fund issues PABs on behalf of the borrower and lends the bond...

Lew Milford with Clean Energy Group discusses the lending market and financing trends for clean energy developments. Milford explains the Clean Energy + Bond Finance Initiative, and how capital markets provide an avenue to spur investment in...

Daniel McRae of Seyfarth Shaw provides information on the resources which are available for energy projects throughout the country including bonds, tax credits, public-private partnerships, EB-5, and much more. McRae explains the benefits of...

This investment guide provides a snapshot of a few financing programs available in the state of California. The state has a strong focus on Industrial Development Bonds, pollution control financing, small business loans and loan guarantees, and more.

Urban Manufacturing Alliance takes an in-depth look at the Industrial Revenue Bond Program and makes a number of key findings and recommendations. This brief also examines other popular tools being paired with IRBs, state volume cap, and urban...

The Utah Department of Community and Culture is Utah's tax-exempt bonding authority and manages the state's Private Activity Bond (PAB) program. Utah established Manufacturing Facilities as a priority and issues qualified small issue bonds for new...

This document provides an overview of Michigan's Private Activity Bond Program. It includes detailed information on who qualifies as an eligible borrower and how the application process works.

The California Financial Opportunities Roundtable (CalFOR) created this document encompassing all the access to capital financing tools available in California. CalFOR identified opportunities and developed recommendations for leveraging existing...

This document, prepared by the Joint Committee on Taxation, summarizes the provisions and discusses economic issues of allowing a deduction for certain State and local taxes, tax-exempt and tax-credit bond provisions, income tax, and the treatment...

South Carolina Jobs-Economic Development Authority released a new document explaining Industrial Development Bonds (IDBs). The document provides bond participants, the process, advantages of tax-exempt bonds, and general structure.

The Economic Development Corporation of Erie County created this one-page document which lists financing programs available to Erie County businesses seeking assistance.