The California Industrial Development Financing Advisory Commission's (CIDFAC) mission is to create employment opportunities and to support local economic development. CIDFAC meets this goal by providing low cost financing through the issuance of Industrial Development Bonds (IDBs) to manufacturers through its partnership with local governments. CIDFAC is mandated to provide technical assistance to local government issuing agencies such as: cities, counties, economic development authorities, redevelopment agencies or joint power authorities. CIDFAC independently reviews IDB applications to ensure compliance with federal and state statutes and approves the sale of IDBs by local authorities.

The State Treasurer serves as chairperson of the Commission. The other members are the Director of the Department of Finance, the State Controller, and the Commissioner of the Department of Corporations.