tax rates icon

CUSTOMIZED PROGRAMS

There are a variety of financing and business incentives are available from federal, state and local agencies to assist in starting or expanding a business in the region.

DRUM COUNTRY BUSINESS HELPS GROWING BUSINESSES ACCESS SEVERAL CATEGORIES OF ECONOMIC DEVELOPMENT INCENTIVES

Drum Country also offers a number of job training and workforce development programs and incentives, including:

Financial and business incentives in the region include:

  • Industrial Revenue Bonds
  • Sale-leaseback arrangements
  • Revolving Loan Funds
  • Tax-exempt and bond financing
  • Industrial Revenue Bonds
  • North Country Alliance Fund (fixed assets and working capital to businesses with fewer than 100 employees)
  • Long term/low interest loans
  • Loan guarantees for the acquisition of property, construction of buildings and purchase of equipment
  • Payments-in-lieu-of-taxes, or PILOTS
  • Relocation expenses
  • Business start-up or expansion
  • Wage tax credits
  • Investment credits
  • Tax abatement
  • Telephone rate reduction
  • Power rate reduction
  • Sales and use tax exemptions
  • Mortgage Recording Tax exemptions

Examples of incentive programs:

ENVIRONMENTAL INVESTMENT PROGRAM

Helping businesses capture the economic benefits associated with pollution prevention, waste reduction, re-use and recycling.

4

GLOBAL NY ASSISTANCE

Global NY offers financial and technical assistance to help companies connect to the world. Programs include Export Marketing Assistance Service, Global NY State Trade Expansion Program, Global NY Grant Fund Program, and Global NY Loan Fund Program. All exist to help businesses create or expand direct exporting.

JOB DEVELOPMENT AUTHORITY DIRECT LOAN PROGRAM

Providing direct loans for the growth of manufacturing and other eligible businesses in New York State by assisting in financing a portion of the cost of acquiring and renovating existing buildings or constructing new buildings, or for purchasing machinery and equipment.

two-workers-Manufacturing-Technical-Assistance

JOBS INCENTIVE PROGRAMS

NYS provides tax incentives for business expansion and attraction efforts that will create or attract significant numbers of permanent, full time private sectors jobs in New York State.
manufacturing business incentives

LOW INTEREST REGIONAL LOAN FUNDS

Drum Country is unique in that it has a variety of programs available to provide low cost, long term fixed financing for businesses looking to grow or locate in the region. These funds are administered through the partners in the Drum Country NY initiative. For more information on these programs contact letsmeet@drumcountryny.com.

CONTACT US TODAY!

Discover opportunities in Drum Country and start your prosperous future today!