LOCAL INCENTIVES/SUPPORT


Village of Newark Economic Development Loan Program (EDLP) - Provides low interest loan money to stimulate local business development opportunities.  Eligible activities include the acquisition and renovation of commercial/industrial property in the Village and the purchase and installation of capital equipment.  The objective  of the EDLP, once financial feasibility has been established, is to create new or retain existing employment opportunities, particularly opportunities for low and moderate income persons.  Firms that received loans must agree to make a good faith effort to hire persons for newly created jobs who are of lower moderate income (per HUD guidelines).  The firm should expect to create or retain one (1) full-time equivalent job for each $12,000 borrowed.


Land for Jobs Policy - In an effort to attract new businesses to the Village, this policy was instituted whereby businesses would be deeded land, at no charge, for the construction of structures for any business purpose in exchange for the creation of a specific number of full-time jobs.  The offer is good on any Village-owned land parcel.  The business can erect a new structure or expand an existing facility.  For every acre requested, one (1) full-time job equivalent must be created and retained during a period of three years commencing on the day the Certificate of Occupancy is issued.  (See "Land for Jobs Policy" for more details.


Wayne County IDA Revolving Loan Fund - The purpose is to enhance industrial development and job creation through low-interest loans in cooperation with private and other government lending programs to provide gap financing for manufacturing projects.  Recipients must create one new job for every $10,000 in loans.  The loans are available for the purchase of land, construction, renovation, machinery, equipment, and working capital.  Loans can be up to 20% of projected costs, up to a maximum of $300,000 (subject to availability).  For more information, visit the WCIDA website.


Wayne County Industrial Site Fund - This fund assists municipalities with public infrastructure improvements required to locate a manufacturing facility.  Wayne County will assist in the cost of any required improvements at the lesser of one-third of the total cost or $100,000.  The developer and the Village (or Town, for projects outside the Village) would split the other two-thirds.


IDA Revenue Bonds and Tax Incentive Program -  WCIDA helps facilitate the financing of an industrial or qualified non-industrial project through issuance of taxable or tax exempt industrial development or industrial revenue bonds (IDB or IRB).  Tax incentives may be accessed without bond financing using a sale/leaseback transaction.  The WCIDA has adopted a countywide policy for the provision of real property tax incentives for expanding manufacturing industries.  The incentives provided apply to value added only.  This 10-year program allows for a 100% abatement for the first fie years and a 50% abatement the second five years of County, Town, Village, and School District real estate taxes, except special districts.


Business Property Tax Exemption - Available for County, Town, Village, School District and Special District taxes.  It consists of a 50% exemption in increased assessed valuation for the first year for any new construction or improvement exceeding $10,000.  This exemption would decline 5% per year for an additional nine years yielding a graduated exemption over 10 years.  It cannot be used in conjunction with the IDA tax incentive program.


Microenterprise Revolving Loan Program - Loans up to $25,000 for the purchase of fixed assets or working capital.  It provides both technical and financial assistance to the startup or expanding small business (no more than five (5) employees creating or retaining low to moderate income jobs.


Small Business Administration Program (SBA 504) - This fixed asset economic development program from the U.S. Small Business Administration promotes growth and job creation in small businesses.  The Wayne Economic Development Corporation is a resource center for this program and provides long-term, second mortgage money for expanding businesses.  SBA 504 loans are used in conjunction with conventional bank financing to provide a total of 90% of project costs or appraised value.  Loans are available from $100, 000 to $1,000,000 or up to 40% of total project costs.  More information can be found on the SBA website.


Wayne County Finger Lakes PTAC – Government Contract Counseling – MCFL PTAC offers services through workshops, webinars and one-on-one counseling, along with free daily bid matching. Serving the nine-county Finger Lakes region, including Wayne County, MCFL PTAC assists firms in selling to the federal, state and local government, and the military.  www.monroecountyfingerlakesptac.org.


Greater Rochester SCORE - Providing the right resources to new and expanding businesses:
   Mentoring - Free, confidential, professional one-on-one in person or online

   Workshops - Low cost workshops aimed at meeting your needs. Business start-up, social marketing,

                            QuickBooks and more.

    Advisory Services - Problem solving, planning, process improvements
  Website:
Score  Phone:  (585)-263-6473


Greater Rochester Enterprise (GRE) Regional Economic Gardening Program - This program is designed to provide sophisticated, tailor-made technical assistance to local companies poised for growth in the Greater Rochester, NY region. GRE partners with the Edward Lowe Foundation, a national nonprofit organization that supports entrepreneurship, to provide this unique program to Rochester area companies.  Website link.


Finger Lakes Hired - Are you struggling to find the right talent for your business?  Take advantage of a new opportunity to recruit, train, and try out new candidates at little or no cost to you!  Finger Lakes Hired Information


More information on any of the County programs may be obtained from the Wayne County Industrial Development Agency website.



STATE INCENTIVES/SUPPORT


Excelsior Jobs Program - The Excelsior Jobs Program provides job creation and investment incentives to firms in such targeted industries as biotechnology, pharmaceutical, high-tech, clean-technology, financial services, agriculture and manufacturing.  Firms in these industries that create and maintain new jobs or make significant financial investments  are eligible to apply for up to four new tax credits.  The program encourages businesses to expand in and relocate to New York while maintaining strict accountability standards to guarantee that businesses deliver on job and investment commitments.  Program costs are capped at $500 million annually to maintain fiscal affordability and ensure that New Yorkers realize a positive return on their investment.


Empire State Development - New York State and the electric and gas utilities serving the State offer a variety of energy cost savings programs that help businesses reduce costs, preserve and create jobs, and boost economic growth.  An example is the "Power for Jobs Program" that provides 450 megawatts of low cost electricity to businesses that remain and expand within the State.  The State also offers technical services and capital financing to help businesses identify and implement cost-effective and energy-efficient measures.  Loan programs and other incentives are detailed in the Empire State Development website.


FuzeHub - a new, federally funded initiative to better connect New York’s small and mid-sized manufacturing companies to the resources, programs and expertise they need for technology commercialization, innovative solutions and business growth. FuzeHub unites and integrates a broad network of multi-disciplinary public and private sector technology, industry and commercialization services, experts and partners.  It bridges the gap by providing fast access through a convenient, 24/7 online request service, numerous event opportunities for meeting with solution partners, and direct assistance from an Innovation Specialists team every step of the way.   They are a center and source for fast connection to reliable, targeted solutions and expertise. Please visit fuzehub.com for more information.


The New York Small Business Development Center (SBDC) – The New York SBDC offers free counseling to any New Yorker hoping to start or grow a small business. Direct, one-to-one counseling and technical assistance are available in areas that include:  business plan development, small business start-ups, marketing, organizational structures, finance planning, exports, financing strategies, business expansion, training programs. 


The New York SBDC also offers a host of programs designed for specific groups of entrepreneurs or focusing on particular business needs, including the Office of Entrepreneurial Education’s (OE2), International Business Development office and Veterans Business Outreach Program (VBOP).

Beyond these programs, the New York SBDC also provides specialized services and outreach to:
Women business owners & entrepreneurs, Minority business owners & entrepreneurs, Native American business owners & entrepreneurs.  Website: 
www.nysbdc.org          Phone:  (585)-395-8410


New York State Office of Science, Technology, and Academic Research (NYSTAR) -
The
Matching Grants Leverage Program is to assist New York State research institutions in attracting new federal and private foundation or industry research dollars to New York.


New York State Energy Research and Development Authority (NYSERDA) - A myriad of loan, grant and other financing options are available through many sources.  For a complete list with details, please refer to the NYSERDA website.


New York State Electric and Gas (NYSEG) - Eligible small businesses will receive free energy assessments, and up to 70% of the cost of recommended equipment upgrades will be covered through the Small Business Energy Efficiency Program.



FEDERAL INCENTIVES/SUPPORT


U.S. Small Business Administration (SBA) - Offers a number of loan programs; Basic 7 (a) Loan Guarantee, Certified Development Company (a 504 Loan Program), and a Microloan (a 7m Loan Program).  More information is available at the SBA website.


Foreign-Trade Zone (FTZ 289) - Promoting international commerce, domestic manufacturing and employment in the USA.   More information on the Foreign-Trade Zone and Global New York ,

which offers support to New York businesses who wish to export globally as well as foreign businesses looking to invest in New York State.


Incentives/Support