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Industrial Revolution

Once reserved for large corporations, Industrial Development Bonds are now a source of growth capital for entrepreneurs.

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This story appears in the April 1999 issue of Entrepreneur. Subscribe »

Jim Middlebrook, the founder and president of VortechEngineering, was feeling the squeeze of success. After founding hisOxnard, California, company in 1990 to develop performance partsand accessories for the automotive aftermarket, by 1997, he'drevved up sales to more than $7 million.

But finding growth capital was still a problem. With thegovernment taking a large portion of a company's earnings rightoff the top and tooling costing a pretty penny as well, Middlebrooksays, "In the end, there's not a lot left to make thecompany grow."

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