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Industrial Revenue Bonds (IRB’s)

Category: Financial Assistance

Industrial Revenue Bonds can be used for projects which create jobs and/or additional tax base. If a project accomplishes that purpose, the local unit of government can authorize Industrial Revenue Bonds. Interest on these bonds is tax exempt to the bond purchaser; consequently, a lower interest rate is available. Because of legal and underwriting costs, the minimum size project is $500,000.

A Haven for New, Startup Technology Companies

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The downtown district of Little Falls is fast becoming a haven for new, startup technology companies. Little Falls is home to Atomic Learning, an international software company; Waypoint Technologies, a lake mapping software company; and AmeriTrak Fleet Solutions, a vehicle tracking company. The growth of Little Falls continues, thanks to the early entrepreneurs whose vision gave it impetus.