Our Revolving Loan Fund, offered through the Ontario County Economic Development Corporation, helps provide low-interest, gap funding necessary for companies to finance projects such as purchasing a building or equipment, and for providing working capital to fund an expansion. We work to leverage bank and equity financing to provide the missing piece that helps make the project a reality.
The Ontario County Industrial Development Agency (OCIDA) provides a variety of tax incentives designed to help businesses looking to build or improve their manufacturing or production facilities. OCIDA’s standard 10-year payment-in-lieu-of-tax agreement provides five years of abated real property taxes on construction-related assessment increases with a 20% step up for the remaining five years. Sales tax on all construction related costs and mortgage recording tax abatements are also important benefits to these transactions. Sales-tax only products for one-time, large equipment purchases and for information technology purchases spanning a 10-year period are available on a stand-alone basis.
Contact us so that we can help you determine what incentive products best meet your company’s needs.
Our approach to internal harvesting means that our economic development team will be so familiar with your business that we will design a customized program around your company’s needs. Backed by the resources of our department and our strong strategic alliances, we actively call on Ontario County businesses to assess their needs and help them plan for their growth. Learn more about our targeted retention and expansion programs at B2B.
Businesses throughout Ontario County are part of a competitive, fast-paced global economy where ever-improving technologies are the norm and competition is strong. As an employer, it’s imperative to keep the skills of your employees at peak levels. Our partner in workforce development, Finger Lakes Works Ontario County, offers a variety of services that can help you keep a competitive edge.