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Davis County mulls using private activity bonds to help local manufacturers expand
Summary
At an April 7 work session, commissioners heard a presentation from Jonathan Ward of Design Bank on private activity (tax‑exempt) bonds and asked staff to draft guidelines to vet applicants, focusing initially on aerospace and defense expansions that create substantial local jobs.
At a Davis County Commission work session on April 7, 2026, commissioners heard a detailed presentation from Jonathan Ward of Design Bank about private activity bonds — a narrow IRS tax‑exemption the county could use as an economic incentive for private manufacturers.
Ward explained the bond program gives states a "volume cap" each year; Utah’s 2026 allocation is roughly $473,000,000, divided among categories such as single‑family mortgages, student loans, multifamily housing and small manufacturing. Ward said small manufacturing accounts for about 12% of the cap while exempt facilities are about 1%, and he noted roughly $56,000,000 in the 2026 allocation is available for qualifying projects in Utah.
Why it matters: private activity bonds reduce a borrower’s interest…
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