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The Industrial Development Board of the County of Knox (County IDB) The County IDB performs public functions on behalf of Knox County. Authorized under State law, the County IDB undertakes financing and development of projects deemed to promote industry, trade, commerce, tourism and recreation, and housing construction. The purpose of the County IDB is to promote industrial development and provide additional job opportunities in Knox County and the surrounding area and to pursue the statutory objectives for industrial development corporations. The Board serves as a non-recourse conduit lender for taxable or tax-free financing for industrial projects, The County IDB also administers on behalf of Knox County, a tax abatement or payment-in-lieu-of-tax (PILOT) program and a Tax Increment Financing (TIF) and undertakes the issuance of revenue bonds (Bonds). The County IDB is governed by an eleven (11) member Board of Directors, appointed by the Knox County Commission. The County IDB does not have employees, and administrative and management services for the Board are provided by The Development Corporation of Knox County.
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