Project Financing Programs

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.

Business Loans
The Genesee Gateway Local Development Corporation (GGLDC) can assist businesses pursuing manufacturing, commercial, mixed-use and redevelopment projects through the GGLDC's Revolving Loan Fund.
Download an Application for the GGLDC Revolving Loan Fund
Agri-Business Loans
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

Utility Incentives Programs
The New York Power Authority's (NYPA) economic development programs can assist businesses locating and expanding in Genesee County with long-term, low-cost agreements for reliable and renewable energy. Programs include Western New York Hydropower (available to projects at the STAMP Mega Site) and ReChargeNY.
National Grid's economic development programs can assist businesses locating and expanding in Genesee County with incentives supporting construction/upgrades to a customer's electric utility
National Fuel's economic development programs can assist businesses locating and expanding in Genesee County with incentives providing reduced natural gas rates for qualifying projects.

 

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