The Mohawk Valley can offer a variety of incentives aimed at helping businesses; both international companies looking to move, as well as locally owned small businesses looking to grow. By making available loans, grants, and tax credits, the Mohawk Valley supports its businesses by addressing their needs and promoting their development.
Our staff has direct access and in-depth understanding of incentives and loans, and we work closely with the state of New York to package incentive proposals targeted to the needs of individual businesses.
Whether it is grants, loans, bonds or tax exempt financing contact us to learn more about incentive programs in the Mohawk Valley, and which programs may be available and appropriate for your business or project.
NYS GRANT FUNDS
Capital grant funding is available from the Mohawk Valley Regional EconomicCouncil and Empire State Development for capital-based economic development projects intended to promote jobs or increase business or economic activity.
LOCAL TAX ABATEMENT
Oneida County Industrial Development Agency provides major local incentives to new companies and expansion projects:
- Payment in Lieu of Taxes (PILOT) Programs offset local real estate taxes
- Relief from Sales Tax (8.75%) on building materials and supplies
- Exemption from Mortgage Recording Tax
Mohawk Valley EDGE is responsible for overseeing and administering several revolving loan funds that are used for economic development. These funds are available to support economic development projects that will create jobs, support the retention of existing jobs, enhance the tax base of the area and provide other benefits to the region’s economy.