Meetings of the IDA are held as needed. Contact for the Authority is attorney Stephen Robin. The Industrial Development Authority makes recommendations to the Board of Supervisors and, upon board approval, administers bonding in accordance with the Industrial Development and Review Bond Act, Chapter 33, Title 15.1-1736 and 1377 of the Code of Virginia. The Authority considers the applications of certain types of facilities, including those of non-profit organizations as well as industrial companies, which manufacture or assemble parts. The Authority recommends granting or denying approval of such facilities.
Approval allows companies to get financing at lower than commercial rates.