Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
State economic official explains how IRBs and gross-receipts sharing can bring large projects to Doña Ana County
Summary
A state economic development representative told commissioners Industrial Revenue Bonds and the Local Economic Development Act grocery gross-receipts sharing can produce net revenue gains for the county while inducing large private investment.
The Doña Ana County Board of County Commissioners received a detailed presentation April 22 from the state’s economic development representative on how Industrial Revenue Bonds (IRBs) and the Local Economic Development Act (LITA) grocery gross‑receipts tax share work, and how those tools can be used to recruit large industrial or manufacturing projects.
Mark Roper (state economic development) explained IRBs are conduit bonds issued by a local government that do not pledge government revenue or credit; instead, the company’s credit supports the bond. The principal…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
