Incentives

CUSTOMIZED PROGRAMS IN RESPONSE TO SPECIFIC BUSINESS NEEDS

There are a variety of financing 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

Financial 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

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

Examples of incentive programs

ENVIRONMENTAL INVESTMENT PROGRAM

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

GLOBAL EXPORT MARKET SERVICES (GEMS)

A matching grant program to help small- and medium-sized businesses expand their international activities through increased export activity through technical and marketing assistance.

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.

JOBS NOW

Grants for financial assistance of major business expansion and attraction efforts that will create or attract significant numbers of permanent, full time private sectors jobs in New York State.

MANUFACTURING ASSISTANCE PROGRAM

Providing financing for the growth of manufacturing in New York State.
Four pictures of scenes from a factory highlight business growth

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