The Orange County Industrial Development Authority was created for the purpose of financing and re-financing capital projects as defined by, and in the manner provided by, the Florida Industrial Development Financing Act and by Sections 159.44-159.53 of Chapter 159 of the Florida Statutes relating to industrial development authorities and for the purpose of fostering the industrial and business development of Orange County.
Section 159.46, Florida Statutes provides that the purposes of industrial development authorities are as follows:
159.46 Purposes.—Industrial development authorities, as authorized by ss. 159.44-159.53, are created for the purpose of financing and refinancing projects for the public purposes described in, and in the manner provided by, the Florida Industrial Development Financing Act and by ss. 159.44-159.53 and for the purpose of fostering the economic development of a county. Each industrial development authority shall study the advantages, facilities, resources, products, attractions, and conditions concerning the county with relation to the encouragement of economic development in that county, and shall use such means and media as the authority deems advisable to publicize and to make known such facts and material to such persons, firms, corporations, agencies, and institutions which, in the discretion of the authority, would reasonably result in encouraging desirable economic development in the county. In carrying out this purpose, industrial development authorities are encouraged to cooperate and work with industrial development agencies, chambers of commerce, and other local, state, and federal agencies having responsibilities in the field of industrial development.