INCENTIVES Ontario 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 Ontario Business Incentive/Programs Eligible Users Program Benefits/Eligible Uses For More Information Zone Programs New York State Empire Zone 123 Qualifying businesses located in a QEZE Sales Tax Exemption - 10-year www.nylovesbiz.com/Tax_and_Financial_In designated Empire Zone. exemption from state sales tax on certain centives/Empire_Zones/descriptions_benefi purchases of goods/services. ts.asp QEZE Credit for Real Property - Refundable credit against their business tax equal to a percentage of real property taxes paid. 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. HUBZone 1 Small businesses that qualify as HUBZone The HUBZone Empowerment Contracting https://eweb1.sba.gov/hubzone/internet/ (Historically Underutilized Business Zone) Program stimulates economic development certification in part by employing staff who and creates jobs in urban and rural live in a HUBZone. The company must also communities by providing federal maintain a "principal office" in one of the contracting preferences to small specially designated areas. businesses. Loans Genesee/Finger Lakes Regional Revolving 1 2 3 Manufacturers and service businesses Purchase of machinery and/or equipment, www.gflrpc.org/ProgramAreas/EconomicDe Loan Fund rehabilitation of industrial property, velopment.htm purchase of industrial property and site development and expansion. Also has a companion loan fund that can finance working capital needs. Microenterprise Technology Fund 1 Start-up technology microenterprise Loans/grants are expected to be in the $50 -www.ontariocountydev.org businesses with less than 5 employees with $60K range, and are limited to technology- expenditures for patent filings, ongoing oriented businesses, especially those R&D, prototype development, and like coming from the Center for Excellence in costs. Canandaigua and the Technology Farm at Cornell Ag and Food Technology Park in Geneva. New York State Business Development 12 Small- to medium-sized business, women NYBDC is a complement to conventional www.nybdc.com/about.htm Corporation Loan Program and minority-owned businesses and banking, working in partnership with banks businesses that credit opportunities are to provide term loans, many of which do not unavailable 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. New York State Job Development Authority 1 2 3 Qualified businesses in manufacturing, Loans from $50,000 to $3.5 million to www.nylovesbiz.com/Small_and_Growing_ Direct Loan Program distribution, warehousing and certain encourage businesses to expand, locate or Businesses/loan_discounts.asp service industries. modernize their facilities in New York State. New York State Linked Deposit Program 1 2 Manufacturers with 500 or fewer The program provides a two to three www.nylovesbiz.com/Small_and_Growing_ employees, service businesses with 100 or percentage points savings on the prevailing Businesses/loan_discounts.asp fewer employees, Empire Zone businesses interest rate for "Linked Loans," to make and companies located in highly distressed borrowing less expensive. The maximum areas with 100 or fewer employees and loan amount of $1,000,000 for four years. businesses with a 100 or fewer employees undertaking a plan to increase the business's export abilities. Ontario County Revolving Loan Fund 123 Manufacturing and industrial businesses Equipment, company acquisitions and www.ontariocountydev.org/ontario/publish/o building purchases and construction. ntario-county-financial-incentives.shtml Section 108 Loan Program 123 Economic development, housing Economic and community development www.hud.gov/offices/cpd/communitydevelo rehabilitation, public facilities, and large- projects that have the potential to renew pment/programs/108/index.cfm scale physical improvement projects. communities. Small Business Administration 504 Loan 1 Small businesses Expansion projects that create/retain jobs, www.sba.gov/financing/sbaloan/cdc504.ht Program real estate projects or acquisition of ml machinery and equipment Small Business Administration 7A Loan 1 Small businesses Real estate, equipment, working capital www.sba.gov/financing/sbaloan/7a.html Guarantee Program and other business purposes. Small Business Administration 7M Micro 1 Small businesses Provides short-term loans of up to $35,000 www.sba.gov/financing/sbaloan/microloans Loan Program to small businesses and not-for-profit child- .html care centers for working capital or the purchase of inventory, supplies, furniture, fixtures, machinery and/or equipment. Grants Environmental Investment Program 12 Small- to medium-sized businesses Provides funding for capital investments, www.nylovesbiz.com/Productivity_Energy_ research, development and demonstration, and_Environment/Environmental_Assistanc and technical assistance that produce e/pollution_prevention.asp measurable results in pollution prevention, reuse and recycling. Global Export Market Service 12 Small- to medium-sized manufacturer, Helps businesses expand through www.nylovesbiz.com/Small_and_Growing_ service or agricultural business with 500 or increased export activities. Can provide up Businesses/global_markets.asp fewer employees and whose New York to $25,000 in export marketing consultant State production content is at least 51%. services for individual companies, and up to $50,000 for groups of companies or industry associations. Industrial Effectiveness Program 12 Small- to medium-sized businesses Assists companies in identifying, www.nylovesbiz.com/Productivity_Energy_ developing and implementing improved and_Environment/industrial_effectiveness.a management and production to enhance sp efficiency, expand market share and promote job growth. New York State's Manufacturing Extension 1 2 Companies are selected based on Grants of up to $60,000 to private www.nylovesbiz.com/Productivity_Energy_ Program demonstrated need, company size consultants. They will identify, develop and and_Environment/industrial_effectiveness.a (companies must be small- or medium- implement improved management and sp sized), willingness to share costs and production processes for businesses to contribute resources, involvement of expand market share and promote job employees, and commitment to self- growth or retention within New York State. improvement. Small Cities Grant 123 Company must be located in an eligible Expansion projects that create/retain jobs. www.nysmallcities.org/EligibleCommunities area and make a capital investment into the /default.asp organization that will result in the creation or retention of at least 7 new jobs. Tax Abatement Sales Leaseback Agreements - Payment In 1 2 3 If the company or property qualifies under The following benefits are available to www.nylovesbiz.com/Tax_and_Financial_In Lieu of Taxes (P.I.L.O.T.) Program Industrial Development Agency guidelines companies who enter into a Sales centives/Taxes_and_Incentives/default.asp (ex. manufacturers, back Leaseback Agreement with an IDA. office/administrative 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. Mortgage Recording Tax Exemption - Local mortgage recording tax is waived. Tax Credits New York State Investment Tax Credit 123 Companies that create new jobs and make The investment may qualify the business to www.nylovesbiz.com/Tax_and_Financial_In new investments in production property and receive up to a 10% tax credit on their centives/Taxes_and_Incentives/default.asp equipment. investments. New York State Research and 123 New or expanding tech companies that Investments in research and development www.nylovesbiz.com/Tax_and_Financial_In Development Tax Credit make investments in research and facilities are eligible for a 9% corporate tax centives/Taxes_and_Incentives/default.asp development facilities that create new jobs. 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. Energy Building Redevelopment Program 123 Companies interested in redeveloping Grants to fund utility-related infrastructure www.rge.com/rgeweb/webcontent.nsf/busin brownfields and/or abandoned buildings improvements necessary for the ess/EcoDevPrgIncentives#3 with preference to companies located in redevelopment of brownfields and Renewal Communities or Empire Zones. abandoned buildings. Capital Investment Incentive Program 123 Business attraction and expansion projects Grants to fund improvements for electric www.rge.com/rgeweb/webcontent.nsf/busin and involves an existing or prospective infrastructure or certain business projects ess/EcoDevPrgIncentives#6 customer with a monthly peak electric that involve major capital investment. demand of at least 300 kilowatts. Economic Development through Greater 123 New York State businesses EDGE provides financial and technical www.banking.state.ny.us/sbusines/nys- Energy Efficiency (EDGE) support for detailed engineering studies of erd1.htm manufacturing operations; and financial assistance for the demonstration of innovative energy-efficient process technology. New York State Energy $mart Loan Fund 123 New York State businesses that undertake Investments may qualify for a 4% reduction www.nyserda.org/loanfund/default.asp pre-qualified cost-effective investments that in a financial institution's loan rate from reduce energy use. New York State for the life of the loan. Power Naturally 123 Any business or facility assessed with a Installation of 50kW or smaller end-use www.powernaturally.org Systems Benefit Charge (RG&E, NYSEG, solar or wind energy system. Must be grid NIMO distribution territories). connected. $4.00/watt incentive for solar systems. Small Commercial Energy Audit Program 123 Any facility assessed with a Systems NYSERDA provides financial assistance for www.nyserda.org/programs/energyaudit.as Benefit Charge with less than $100,000 in the cost of an energy audit and matching p annual electric bills is eligible for an energy funds for implementation of audit audit. recommendations. Smart Equipment Choices 123 Any business or facility assessed with a NYSERDA rebates on approved energy www.nyserda.org/programs/smartEC/defau Systems Benefit Charge (RG&E, NYSEG, efficient equipment such as lighting, lt.asp NIMO distribution territories). motors, geothermal heat pumps, and HVAC refrigeration. University-Industry Energy Research 123 Projects that combine the resources of the Funding to reduce risks and operating www.banking.state.ny.us/sbusines/nys- Program university with those of the industry to find costs, increased opportunities to develop erd3.htm energy-efficient solutions to industrial and use innovative technologies, and problems. improved access to university resources and specialized equipment. Utility Infrastructure Investment Program 123 Projects may involve an existing or Provide funding for new electricity facilities www.rge.com/rgeweb/webcontent.nsf/busin prospective customer with a monthly peak to assist in the development of certain sites ess/EcoDevPrgIncentives#1 electric demand of at least 100 kilowatts. or buildings. These sites represent the To be eligible, total project cost must also service area's best potential industrial involve capital investment of at least $1 development opportunities. Primary focus million. 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 Program. Other sites will be considered based on economic impact to the community. Workforce Development New York State Training Grants 123 New York State offers assistance to small Funding available for up to 50 percent of www.nylovesbiz.com/Workforce_and_Dem and large businesses attempting to meet any training project, training in new ographics/training_assistance.asp the challenges of creating new products, technologies, skills or work processes, entering new markets and improving training in a classroom setting and/or on- production. the-job, funding for consortia projects, and funding for small business training projects.
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