The Industrial Development Authority (IDA) is a conduit-issuer of
bonds, formed in 1982 by the Los Angeles City Council. The IDA enables
bonds to be issued with a tax-exempt status, but does not pledge
City funds to repay the bond issues.
These bonds are offered as an incentive to companies involved in
manufacturing and processing activities - to relocate to Los Angeles or remain
and expand in the City - thereby creating and retaining jobs, promoting
economic revitalization, and providing much needed public and community
Since its inception, the IDA has directly issued or facilitated
over $2.3 billion in bond issues. The IDA works closely with a team
of qualified financial professionals whose goal is to process bonds
in a timely, accurate and cost-effective manner.