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| IDA
Mission |
It
is the mission of
the IDA to promote
economic development
through a program
of incentives - based
allocations that assist
in the construction,
equipping and maintenance
of specific types
of projects and facilities.
In general, the IDA
works to advance
the health, prosperity
and economic welfare
of our County’s
citizens
by retaining and
creating jobs and
attracting new business. |
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Sales and Use Tax Exemptions: |
The Agency can offer exemptions from sales tax on materials purchased during the construction of a qualified project and for equipment for the project. The Agency issues a sales tax letter to the project owner or lessee which provides to vendors a description of the Agency project and informs them that the project owner or lessee is an agent of the Agency for the purposes of completing the project and, therefore, no sales tax is imposed on any property within the scope of the Agency project. The sales tax letter is limited in time and solely to the Agency project. In Orange County, the applicable sales tax is 8.125%.
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