The Industrial Development Board may acquire, develop, lease and sell property to facilitate new businesses locating to Knoxville or assist businesses in expanding their operations. The board may also issue tax-exempt revenue bonds to assist in the financing of projects. KCDC administers the Industrial Development Board.

The City Industrial Development Board is governed by a nine member Board of Directors, nominated by the Mayor and confirmed by City Council. Members serve for six years and in the event of a vacancy, an appointment may be made only for the unexpired portion of the term.

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