Ontario County offers many financial incentives to attract and retain businesses, often coming up with creative approaches to nurture companies and help them prosper. Key programs include:

Tax-Exempt Industrial Revenue Bond Financing through OCIDA
Both taxable and non-taxable IRB financing is available to qualifying companies for acquisition of land and buildings, construction, expansion, modernization and renovation as well as acquisition of machinery and equipment.

Straight Lease (Sale-Leaseback) through OCIDA
Provides real property, sales and use tax and mortgage tax abatement to qualified industries on new improvements.

Revolving Loan Funds
Ontario County, the City of Geneva and other public sector agencies all provide low-interest loans for the purchase of facilities and equipment, working capital, land acquisition, construction, expansion and improvement of land and buildings.

Empire Zone
Encompassing most of the City's downtown and all industrial districts including the Geneva Industrial Park, EDZ benefits to companies operating there include tax credits and other incentives for work force expansion, purchase of new machinery and equipment, reduced sales tax on construction materials and reduced utility costs.

Geneva Enterprise Development Center - (GEDC)
An industrial incubator for startup companies, the GEDC offers private, secure, flexible and affordably priced space from 1,000 to 30,000 sq. ft. Heat and full maintenance are included in rental fees, along with other services and amenities. Location of the 230,000 sq. ft. facility within the EDZ qualifies tenants for considerable additional benefits to help make their operations more productive and profitable.

Besides these incentives, our experienced economic development staff can help you access many other state and federal agencies and programs by working in conjunction with local banks. Among many sources currently available are:

• Empire State Development Corp.
• Economic Development Fund - General Development Financing
• Economic Development Fund Competitiveness Improvement
• Services Program
• Empire State Development Jobs Now Fund
• New York State Linked Deposit Program
• New York State Job Development Authority Loan Business
• Expansion Program
• New York State Job Development Authority Enhanced SBA 504
• Loans
• U.S. Small Business Administration "7-A" Loan Program