Incentives for Businesses Locating and Expanding in Genesee County

 

Download an Application for Financial Assistance

 

Property Tax Abatement

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 Exemption

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 Exemption

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.

 

Housing Incentives

The GCEDC offers financial incentives to grow our stock of quality housing. Genesee County has a recognized need for market-rate housing, and our accelerating food and beverage and advanced manufacturing clusters create a high demand for high-quality apartments. Learn more about Housing Policy #1, which supports developments of 20 or more market-rate apartments.

 

Business Loans

The Genesee Gateway Local Development Corporation (GGLDC) can assist businesses pursuing manufacturing, commercial, mixed-use and redevelopment projects through the GCEDC’s GGLDC's Revolving Loan Funds.

 

Download our Revolving Loan Fund Brochures

 

Download an Application for our Loan Programs

 

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 variety 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.