INCENTIVES Wayne County Greater Rochester Enterprise. 100 Chestnut Street. One HSBC Plaza, Suite 1910. Rochester New York 14604. P 585-530-6200. F 585-546-8477 www.rochesterbiz.com Wayne Business Incentive/s Eligible Users Benefits/Eligible Uses For More Information Zone s New York State Empire Zone 1 2 3 Qualifying businesses located in a designated QEZE Sales Tax Exemption - 10-year www.nylovesbiz.com/tax_and_financial_ince Empire Zone. exemption from state sales tax on certain purchases of goods/services. QEZE Credit for Real Property - Refundable credit against their business tax equal to a percentage of real property taxes paid. ntives/empire_zones/descriptions_benefits.as p QEZE Tax Reduction Credit - Credit against their tax equal to a percentage of taxes attributable to the zone enterprise. Wage Tax Credit - This credit is available for up to five consecutive years for companies hiring full-time employees in newly created jobs. EZ Investment Tax and Employment Incentives Credit - Tax credit up to 19% of the company's eligible investment. New Business Refund - New state businesses receive a 50% cash refund of unused EZ-WTC and EZ-ITC amounts. Utility Rate Savings - Reduced electric and gas rates. Zone Capital Credit - A 25% tax credit against personal or corporate income taxes. Loans Genesee/Finger Lakes Regional Revolving Loan Fund 1 2 3 Manufacturers and service businesses Purchase of machinery and/or equipment, rehabilitation of industrial property, purchase of industrial property and site development and expansion. Also has a companion loan fund that can finance working capital needs. www.gflrpc.org/areas/economicdeve lopment.htm
Industrial Loan Fund 1 2 3 Manufacturers and industrial businesses Provides short-term loans of up to $35,000 to small businesses and not-for-profit child-care centers for working capital or the purchase of inventory, supplies, furniture, fixtures, machinery and/or equipment. Microenterprise Loan 1 Businesses with five or fewer employees within Wayne County. Makes loans up to $25,000 for the purchase of fixed assets or working capital. Provides both technical and financial assistance to the startup or expanding small business creating or retaining low to moderate income jobs www.cityofrochester.gov/index.cfm?id=116 Microenterprise Revolving Loan Fund New York State Business Development Corporation Loan 1 Most businesses with five or fewer Purchase fixed assets and working capital. employees. 1 2 Small- to medium-sized business, women and NYBDC is a complement to conventional minority-owned businesses and businesses banking, working in partnership with banks to that credit opportunities are unavailable. provide term loans, many of which do not meet the requirements for traditional financing. Our goal is to be more creative in our underwriting. In many cases, we include multiple participations, SBA guarantees, flexible amortization and long-term payouts. www.nybdc.com/about.htm New York State Job Development Authority Direct Loan 1 2 3 Qualified businesses in manufacturing, distribution, warehousing and certain service industries. Loans from $50,000 to $3.5 million to encourage businesses to expand, locate or modernize their facilities in New York State. www.nylovesbiz.com/small_and_growing_bu sinesses/loan_discounts.asp New York State Linked Deposit 1 2 Manufacturers with 500 or fewer employees, service businesses with 100 or fewer employees, Empire Zone businesses and companies located in highly distressed areas with 100 or fewer employees and businesses with a 100 or fewer employees undertaking a plan to increase the business's export abilities. Section 108 Loan 1 2 3 Economic development, housing Economic and community development rehabilitation, public facilities, and large-scale projects that have the potential to renew physical improvement projects. communities. Small Business Administration 504 Loan Small Business Administration 7A Loan Guarantee Small Business Administration 7M Micro Loan Wayne County Revolving Loan Fund 1 2 3 Manufacturing, industrial, commercial, warehousing and research companies. 1 Small businesses Expansion projects that create/retain jobs, real estate projects or acquisition of machinery and equipment. 1 Small businesses Real estate, equipment, working capital and other business purposes. 1 Small businesses Provides short-term loans of up to $35,000 to small businesses and not-for-profit child-care centers for working capital or the purchase of inventory, supplies, furniture, fixtures, machinery and/or equipment. The program provides a two to three www.nylovesbiz.com/small_and_growing_bu percentage points savings on the prevailing sinesses/loan_discounts.asp interest rate for "Linked Loans," to make borrowing less expensive. The maximum loan amount of $1,000,000 for four years. Purchase of land, construction, renovation, machinery and equipment and working capital. www.hud.gov/offices/cpd/communitydevelopm ent/programs/108/index.cfm www.sba.gov/financing/sbaloan/cdc504.html www.sba.gov/financing/sbaloan/7a.html www.sba.gov/financing/sbaloan/microloans.ht ml
Grants Environmental Investment 1 2 Small- to medium-sized businesses Provides funding for capital investments, research, development and demonstration, and technical assistance that produce measurable results in pollution prevention, reuse and recycling. Global Export Market Service 1 2 Small- to medium-sized manufacturer, service or agricultural business with 500 or fewer employees and whose New York State production content is at least 51%. Helps businesses expand through increased export activities. Can provide up to $25,000 in export marketing consultant services for individual companies, and up to $50,000 for groups of companies or industry associations. www.nylovesbiz.com/productivity_energy_an d_environment/environmental_assistance/pol lution_prevention.asp www.nylovesbiz.com/small_and_growing_bu sinesses/global_markets.asp Industrial Effectiveness 1 2 Small- to medium-sized businesses Assists companies in identifying, developing www.nylovesbiz.com/productivity_energy_an and implementing improved management and d_environment/industrial_effectiveness.asp production to enhance efficiency, expand market share and promote job growth. New York State's Manufacturing Extension 1 2 Companies are selected based on demonstrated need, company size (companies must be small- or medium-sized), willingness to share costs and contribute resources, involvement of employees, and commitment to self-improvement. Grants of up to $60,000 to private consultants. They will identify, develop and implement improved management and production processes for businesses to expand market share and promote job growth or retention within New York State. www.nylovesbiz.com/productivity_energy_an d_environment/industrial_effectiveness.asp Small Cities Grant 1 2 3 Company must be located in an eligible area and make a capital investment into the organization that will result in the creation or retention of at least 7 new jobs. Expansion projects that create/retain jobs. www.nysmallcities.org/eligiblecommunities/d efault.asp Tax Abatement Sales Leaseback Agreements - Payment In Lieu of Taxes (P.I.L.O.T.) 1 2 3 If the company or property qualifies under The following benefits are available to www.nylovesbiz.com/tax_and_financial_ince Industrial Development Agency guidelines companies who enter into a Sales Leaseback ntives/taxes_and_incentives/default.asp (ex. manufacturers, back office/administrative Agreement with an IDA. service centers). Real Property Tax Abatement - Abatement of the real property tax for a designated period of time. New York State Sales Tax Exemption - Sales tax exemptions on the purchases and costs associated with creating/retaining jobs. Examples: sales tax associated with contractor costs, business vehicles sales tax. Tax Credits New York State Investment Tax Credit 1 2 3 Manufacturers that create new jobs and make new investments in production property and equipment. Mortgage Recording Tax Exemption - Local mortgage recording tax is waived. The investment may qualify the business to receive up to a 10% tax credit on their investments. www.nylovesbiz.com/tax_and_financial_ince ntives/taxes_and_incentives/default.asp
New York State Research and Development Tax Credit 1 2 3 New or expanding tech companies that make investments in research and development facilities that create new jobs. Investments in research and development facilities are eligible for a 9% corporate tax credit. Additional credits are available to encourage the creation and expansion of emerging technology businesses, including a three-year job creation credit of $1,000 per employee and a capital credit for investments in emerging technologies. www.nylovesbiz.com/tax_and_financial_ince ntives/taxes_and_incentives/default.asp Energy Building Redevelopment 1 2 3 Companies interested in redeveloping brownfields and/or abandoned buildings with preference to companies located in Renewal Communities or Empire Zones. Grants to fund utility-related infrastructure www.rge.com/rgeweb/webcontent.nsf/busines improvements necessary for the s/ecodevprgincentives#3 redevelopment of brownfields and abandoned buildings. Capital Investment Incentive 1 2 3 Business attraction and expansion projects and involves an existing or prospective customer with a monthly peak electric demand of at least 300 kilowatts. Economic Development through Greater Energy Efficiency (EDGE) Grants to fund improvements for electric www.rge.com/rgeweb/webcontent.nsf/busines infrastructure or certain business projects that s/ecodevprgincentives#6 involve major capital investment. New York State Energy $mart Loan Fund 1 2 3 New York State businesses that undertake pre-qualified cost-effective investments that reduce energy use. Power Naturally 1 2 3 Any business or facility assessed with a Systems Benefit Charge (RG&E, NYSEG, NIMO distribution territories). Small Commercial Energy Audit 1 2 3 Any facility assessed with a Systems Benefit Charge with less than $100,000 in annual electric bills is eligible for an energy audit. Smart Equipment Choices 1 2 3 Any business or facility assessed with a Systems Benefit Charge (RG&E, NYSEG, NIMO distribution territories). University-Industry Energy Research 1 2 3 Projects that combine the resources of the university with those of the industry to find energy-efficient solutions to industrial problems. Investments may qualify for a 4% reduction in a financial institution's loan rate from New York State for the life of the loan. Installation of 50kW or smaller end-use solar or wind energy system. Must be grid connected. $4.00/watt incentive for solar systems. NYSERDA provides financial assistance for the cost of an energy audit and matching funds for implementation of audit recommendations. NYSERDA rebates on approved energy efficient equipment such as lighting, motors, geothermal heat pumps, and HVAC refrigeration. www.nyserda.org/loanfund/default.asp www.powernaturally.org www.nyserda.org/programs/energyaudit.asp www.nyserda.org/programs/smartec/default. asp 1 2 3 New York State businesses EDGE provides financial and technical support for detailed engineering studies of manufacturing operations; and financial assistance for the demonstration of innovative energy-efficient process technology. www.banking.state.ny.us/sbusines/nyserd1.htm Funding to reduce risks and operating costs, www.banking.state.ny.us/sbusines/nyserd3.htm increased opportunities to develop and use innovative technologies, and improved access to university resources and specialized equipment.
Utility Infrastructure Investment 1 2 3 Projects may involve an existing or prospective customer with a monthly peak electric demand of at least 100 kilowatts. To Provide funding for new electricity facilities to assist in the development of certain sites or buildings. These sites represent the service be eligible, total project cost must also involve area's best potential industrial development capital investment of at least $1 million. opportunities. Primary focus is on sites which are: state-designated as Shovel Ready, located in an Empire Zone, part of the City of Rochester Renewal Community, or included in RG&E's own Prime Sites. Other sites will be considered based on economic impact to the community. www.rge.com/rgeweb/webcontent.nsf/busines s/ecodevprgincentives#1 Workforce Development New York State Training Grants 1 2 3 New York State offers assistance to small and large businesses attempting to meet the challenges of creating new products, entering new markets and improving production. Funding available for up to 50 percent of any training project, training in new technologies, skills or work processes, training in a classroom setting and/or on-the-job, funding for consortia projects, and funding for small business training projects. www.nylovesbiz.com/workforce_and_demogr aphics/training_assistance.asp