Incentives for Businesses Locating and Expanding in Genesee County
Property Tax Incentives
The Genesee County Economic Development Center (GCEDC) can assist businesses locating and expanding in Genesee County with a Payment in Lieu of Taxes (PILOT).
A PILOT agreement covers a set schedule for property-tax type payments made to Genesee County and a project's municipality and school district.
Sales Tax Incentives
The GCEDC can assist businesses locating and expanding in Genesee County with sales tax incentives that exempt the 8% sales tax on non-production equipment and construction materials.
Mortgage Tax Incentives
The GCEDC can assist businesses locating and expanding in Genesee County with a mortgage tax exemptions covering 80% of the costs generated by the 1.25% mortgage recording tax.
The Genesee Gateway Local Development Corporation (GGLDC) can assist businesses pursuing manufacturing, commercial, mixed-use and redevelopment projects through the GGLDC's Revolving Loan Funds.
Download Information about Revolving Loan Fund 1, Revolving Loan Fund 2, and the Batavia Microplitan Loan Fund
Download an Application for the GGLDC Revolving Loan Fund
The GAIN Loan Fund is administered by the GGLDC and can assist businesses in the agricultural and food & beverage industries.
Download an Application for the GAIN Loan Fund
Tax Exempt Bonds
The Genesee County Funding Corporation (GCFC) can assist qualifying projects with tax exempt bonding.
Download an Application for a GCFC Tax Exempt Bond
Foreign Trade Zone Benefits
Foreign-trade zones are designated sites where special customs procedures may be used to allow domestic activity involving foreign items to take place prior to formal customs entry. Duty-free treatment is accorded items that are re-exported and duty payment is deferred on items sold in the U.S. market, thus offsetting customs advantages available to overseas producers who compete with producers located in the United States.
Foreign Trade Zone #284 is administered by the GCEDC and includes the entirety of Genesee County, enabling participating businesses to receive foreign-trade zone benefits. See the International Trade Administration for more information.
New York State Incentives
Through Empire State Development (ESD), New York State can assist businesses locating and expanding in Genesee County with a vairety of tax-based incentives. See New York State's Tax-Based Incentives
New York's Consolidated Funding Application (CFA) and Workforce Development Initiative (WDI) also support businesses through targeting funding programs.
Manufacturing businesses operating in New York also do not encounter common taxes that other states assess. In New York, manufacturing businesses have...
0% corporate income tax for manufacturing
0% tax on personal property
0% tax on manufacturing equipment
0% on inventory