Industrial Development Board

About the Industrial Development Board

The Industrial Development Board of the City of New Orleans, Louisiana, Inc. (“IDB”) is a self-supporting, nonprofit public corporation created by the City Council to promote economic development within New Orleans. Similar boards exist in many parishes and municipalities under the authority of enabling laws originally passed by the Louisiana Legislature in 1962.

The IDB's primary mission is to assist in the creation of new projects, the creation and retention of jobs, and the revitalization of existing sites through tools like Payments in Lieu of Taxes (PILOTs) and tax-exempt bonds. Since its creation in 1973, the IDB has provided bonds and PILOT incentives for more than 120 projects representing almost $1.7 billion of capital investment, including $1.24 billion of project investment since Katrina.