Welcome to the Arizona Industrial Development Authority.
OUR MISSION: To promote industry and develop trade. To assist financially and otherwise in the rehabilitation, expansion, and development of all types of commercial enterprises which will:
- promote and assure job opportunities,
- an improved standard of living, and
- an increase in prosperity and health for the residents of the State of Arizona.
The Arizona Industrial Development Authority (Arizona IDA) is a nonprofit corporation and political subdivision of the State of Arizona. We meet our strategic objectives by:
- Providing access to capital. The Arizona IDA is a conduit issuer of municipal revenue bonds with the ability to assist private and public borrowers across the country. Working with the Arizona IDA, applicants for financing often find they can substantially reduce borrowing costs for their most important projects. The proceeds of these revenue bonds may be used for a variety of commercial enterprises, and the interest on the bonds may be exempt from federal income taxation (consult your tax lawyer). In Arizona, interest on bonds issued by the Arizona IDA is presently exempt from state income taxation. Lower financing costs for commercial enterprises by improving access to the capital markets provides increased liquidity, efficiency, and economies of scale.
- Making single-family housing more affordable for low and moderate-income families. By developing, implementing, and promoting the best single-family mortgage down payment assistance program in the country, the Arizona IDA’s HOME+PLUS Home Buyer Down Payment Assistance Program, providing eligible credit-worthy applicants a 30-year fixed-rate mortgage combined with down payment assistance (DPA) ranging from 0% – 5% depending upon the new underlying first mortgage. The DPA can be used toward a down payment, closing costs, or a combination of the two.