Besides programs offered by New York state, cities and towns also provide assistance, loans and other incentives to businesses relocating to or expanding in their region.
To find local economic or business development groups in a particular area of Tech Valley, select Local Incentive Programs from the Categories list on the right side bar and search by region, county or zip code.
Some of the programs offered locally include:
Capital Funding Revenue Bonds
Issues tax-exempt industrial revenue bonds on behalf of companies that are acquiring or improving facilities.
Electric Utility Discounts
Offers reduced rates for electricity usage.
Job Tax Credit
Refundable wage tax credit for hiring full-time employees in newly created jobs.
Local Tax Incentives
Provides abatements on real property over a specified period of time. Some programs eliminate mortgage taxes or sales tax on the cost of construction materials.
MicroLoan Program
Provides loans at reasonable interest rates and repayment terms. Funds may be used for working capital and/or the purchase of equipment, inventory or supplies.
Revolving Loan Fund
Offers low-interest loans to businesses creating jobs in the area.
Tax-Exempt and Taxable Industrial Development Bonds
Issue industrial development bonds for manufacturers.
Training Grants for New Employees
Reimburses a portion of training costs and new employee wages during a training period.