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FastTrack Infrastructure Development Program   

Funds for public infrastructure improvements to facilitate business development
Local community must apply with commitment from specific private-sector company. Qualifying projects must involve companies engaging in manufacturing or other economic activities beneficial to the state of Tennessee. Companies for whom more than 50% of the product or service is involved in the manufacture of products for export are also eligible. FIDP grants require local community matching funds calculated along a varying scale based on a community's ability to pay.
Created to encourage companies to locate or expand in certain communitites, and to create or retain jobs for Tennesseans.



 
Allows businesses in designated Foreign Trade Zones to process foriegn goods prior to formal Customs entry, deffering or eliminating duties
Duty-free treatment is accorded items that are reexported and duty payment is deferred on items sold in the U.S. market, thus offsetting Customs advantages available to overseas producers who compete with producers located in the United States. The City of Memphis is the Grantee of Foreign-Trade Zone (FTZ) No. 77 that includes sites at the Port of Memphis, several sites in southeast Memphis, and the Memphis Depot Business Park.
Established under a 1934 federal act to encourage foreign trade and to create and retain American-based jobs.




Industrial Revenue Bonds   
Bonds issued by public entities to fund the construction or renovation of manufacturing facilities
The bonds are issued by public entities on behalf of private, for-profit companies. The bond buyers provide the funds needed by the company. Interest earned by the bond buyers is exempt from federal (and some state) income tax. As a result, the bond buyers are willing to accept a lower interest rate. Funds must be used to acquire land/buildings, construct facilities, renovate facilities, or acquire new or used equipment. Minimum of 70% must go to core manufacturing.
Developed to allow public entities to leverage capital to fund targeted development in the manufacturing sector.