Featured Investor: Platte County IDA

PCEDC Staff News

The Industrial Development Authority (IDA) of Platte County Missouri is organized as an industrial development corporation under Chapter 349 of the Revised Statues of Missouri state statute. The IDA was officially formed in September 1979. According to Chapter 349 of Missouri statute the IDA can issue bonds to assist in the following activities:

An eligible “Project means the purchase, construction, extension and improvement of plants, buildings, structures, or facilities, whether or not now in existence, including the real estate, used or to be used as a factory, assembly plant, manufacturing plant, processing plant, fabricating plant, distribution center, warehouse building, public facility, waterborne vessels excepting commercial passenger vessels for hire in a city not within a county built prior to 1950, office building, for-profit or not-for-profit hospital, not-for-profit nursing or retirement facility or combination thereof, physical fitness, recreational, indoor and resident outdoor facilities operated by not-for-profit organizations, commercial or agricultural facility, or facilities for the prevention, reduction or control of pollution. Included in all of the above shall be any required fixtures, equipment and machinery.”

Over the last few years, the IDA has been quite active, issuing over $100 million in bonds. These bond projects developed much needed road infrastructure in Platte County. Examples of infrastructure projects include the Tiffany Springs Parkway diverging diamond interchange, M-152 & North Ambassador Drive, Tiffany Market public streets, Zona Rosa infrastructure and partner in the Twin Creeks KC sewer extension. Over the years, the IDA has issued bonds for Platte City, Riverside and Park Plaza.

The Platte County EDC contracts with the County each year to act as the Administration and Marketing entity. In active years, the Platte County EDC receives an administration fee. IDA board members are appointed by the Platte County Commission. Click here to go to that page on our website.