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Loan/Incentive
Programs
Grants with a short application period (Opening & Closing Dates) are not listed.
If you have a project over $100,000 please call the LCIDA, (315) 376-3014 to be placed on an incentive watch list.
Grants with a short application period (Opening & Closing Dates) are not listed.
If you have a project over $100,000 please call the LCIDA, (315) 376-3014 to be placed on an incentive watch list.
Some programs require the
endorsement/sponsorship of the IDA
* There maybe other requirements & funding eligible.
| Program Name |
Program Description |
Funding |
Minimum Requirements* |
| Brownfield Redevelopment Assistance, NM
-
05 |
Grants
to owners,
developers, municipalities or economic development agencies to fund
utility related
infrastructure improvements, demolition and other cost for
redevelopment progress of a
brownfield site or abandoned building. |
Max.
- $200,000 per
yr per site. |
Energy infrastructure a
barrier to site progress, have a variable commercial or industrial
end-use strategies, ability to market site/building, ability to obtain
fed. state, & other funding, & total project cost obtainable |
| Building
Ready Upstate, NM
- 05 |
Owner or developer of an
eligible BuildNow NY site or a local Economic Dev. organization; Grants
to fund building drawings, site plans & design specs that meet
planning approval |
Max. - $30,000 per project (not
to exceed 75% of cost) |
Building design must be a min.
of 20,000 sq.ft.; use for mfg., distr ctr., regional warehouse,
storage, research & development; show evidence of project
completion and cert. by building codes & planning board. |
| Capital
Investment Incentive, NM- 05 |
Funds for an owner or
lessee of eligible property to help offset cost associated with
upgrading utility infrastructure to accommodate a business expansion. |
Based
upon the size
of capital investment: $0-1M: $50,000 $1-5M: $100,000 $5M+: $250,000 (not to exceed 30% of total capital investment or the cost of energy related infrastructure improvements) |
Average mo. demand after capital
investment of at least 500 kW nd suitable for on of "economic growth"
industries; demonstrate efforts to obtain other state & local
incentives; demonstrate a competitive threat or opportunity; energy
infrastructure is a barrier to redevelopment. |
| Cooperative Business Recruitment, NM
- 05 |
State, regional or local
economic development entity; Joint external outreach & sales
initiatives with local partners. |
Max. - $10,000 per project
(not to exceed 50% of cost. |
Project must promote a specific asset & compliment other regional efforts. |
| Dairy
Industry Productivity, NM
- 05 |
Funding for Dairy Farmers or milk
processing business to undertake energy efficiency project with NYSERDA
or other public program |
Not applicable, depends on the project |
Monthly
metered
demand greater than 100kw/ less than 500 kw; & have a comprehensive
energy audit completed |
| Energy
Efficiency in Empire Zones, NM
- 05 |
EZ certified
owner of an eligible business for rebates to help energy efficiency equipment/installations. |
Max.
- $25,000 (not to exceed 50% of total project cost) |
Business must fund 25% of project cost;
equipment must be identified through Niagara Mohawk's application
process, & agreement to install within 2 years of approval |
| Financial Assistance Empire State Development (ESD) | Financial Assistance For - Acquisition of land & buildings or machinery & equipment, working capital, employee training, expanding company's export opportunities, & productivity enhancement. | Direct loans and/or grants; Interest rate subsidies. | For Manufacturers, Service Providers, Warehouses & Distributors, Research & Dev. Companies, Tourism/Destination Businesses, Minority/Women-owned Businesses. Incentives are generally made to create or retain employment. |
| Financial Benefits Empire Zones (EZ) | Sales tax exp (State tax), Real property tax credit, Tax reduction credit, Wage tax credit, Investment tax credit (Mfg), Utility rate savings, & etc |
Benefits -Depanding on the project. |
Business must be in the Empire Zone, be certified, & pass the "Employment Test". |
| Financial
Benefits Hub
Zone |
HUB zone certified business (contractors
and subcontractors) that provided certain goods & services to the
Federal Government. |
10 % competitive advantage; employer tax credits; tax free
facility bonds; investment tax credits. |
HUB zone certified;
business principal office located in the HUB zone; company must be
owned & controlled by one or more US citizen, & 35% of the
business's employees must be HUB zone residents (registered voters) |
| Financial
Benefits Lewis
County
Industrial
Development Agency (LCIDA) |
Primarily for
Manufacturing, Sales Tax & Mortgage Tax Exemptions, Real Property Payment Agreements (PILOT), Industrial Revenue Bond Issuance |
No limit | Needs a cost/benefit analysis |
| Industrial Building Redevelopment, NM - 05 | Facility owner, duly authorized representative of the owner or contract owner | Up to
$250,000 per project based on the amt.of $ investment: up to $1M - $50,000 $1M - $5M - $100,000 $5M & over- $250,000 |
Building must be vacant or underutilized & a min. of 100,000 sq.ft. & suitable for one of "economic growth" industries; Energy infrastructure is a barrier to redevelopment; building must be market to out-of-state prospect. |
| Industrial Revenue Bonds (Tax Exempt) LCIDA | Funding for Land, Building Renovation, New Equipment | Up to $10 million based on financial strength of the company, Needs a cost/benefit analysis | Determined by bond purchaser.; Meet requirements of 1986 Internal Revenue Code: Needs a cost/benefit analysis |
| Industrial Revenue Bonds (Taxable) LCIDA | Funding for Land, Building Renovation, New Equipment | No limit | Determined by bond purchaser.; Meet requirements of 1986 Internal Revenue Code; Needs a cost/benefit analysis |
| Loan Program Adirondack Economic Development Corp (AEDC) | Loan funds for business purposes except refinancing and down payments. | $100,000 max., or 40% of the project | Owner equity - 10 - 20 % |
| Loan Program Development Authority of the North Country (DANC) | Loan fund for Manufacturing, Warehousing & Distribution, Industry, Infrastructure, & Selected Agriculture Projects | Max. of 50% of project costs |
Owner equity - 10%-20% |
| Loan Program Lewis
County Micro-enterprise Revolving Loan Fund |
Loan fund for Manufacturing, Retail,Service, Tourism & Agriculture. | Up to $30,000; 5 or fewer employees. |
Owner equity - 10 - 20 % |
| Loan
Program North
Country Alliance (NCA) |
Loan fund for Eligible businesses for fixed assets and working capital. | $25,000 - $225,000; $75,000 for working capital. Max. of 40 % of the project. 100 or fewer of employees. | Owner equity - 10 - 20 %; Working capital - up to 5 yr.; Fixed assets - up to 15 yr. |
| Loan Program - Link-Deposit ESD | Interest rate subsidy for two years for small business & farms. | 2% normal subsidy 3% EZ subsidy ($1,000,000 max.) |
Manufacturing - 500 or less FTEs; Service - 100 or less FTEs; No start up businesses, certain service business, & non-EZ business |
| New
Construction &
Substantial Renovation Programs - NYSERDA
- 12/05 |
Incentives:
technical assistance, design team incentive, capital cost, custom or
whole building, building commissioning service, or the advanced solar
& daylighting system. |
Under the current Program Opportunity Notice (PON 913), participation is limited to one project / Applicant. The maximum combined incentive from all categories fis limited to $500,000 per Applicant. | For new construction & substantial renovation project to to effect a transformation in the way buildings are designed by providing technical assistance & financial incentives to improve energy efficiency. |
| New York Business Development Corp (NYBDC) | Loan fund for Manufacturing, Wholesale, Retail, Service Businesses |
|
Owner equity - 10%-20%: Bank - 40-50%; NYBDC 40% |
| Sale-Lease Agreements LCIDA | Funding for Land, Building Renovation, New Equipment | No limit |
Determined by Lender
|
| Shovel Ready Infrastructure Fund, NM
- 05 |
For a owner of eligible site; public or
not-for-profit economic dev. agency responsible for develment of the
site. |
$100,000 max. (not to exceed 25%
of total developemnt cost) |
Site must be designated
"Shovel Ready" by BuildNow NY program, Energy infrastructure a barrier
to attracting new investment, applicant must demonstrate commitment to
mkt the site to out-of-state prospects. |
| Small Business Growth Demand
Charge Reduction, NM - 05 |
For an owner of eligible business 2 yr. of
electric service demand charge discounts. |
Not applicable, depends on the project |
Have an
executed SC-12 contract, monthly metered demand greater than 100kw less
than 500kw, comprehensive energy audit completed. |
| Small Business Growth Energy Efficiency
Assistance, NM
- 05 |
For an owner of eligible business, not receiving assistance under the Sm. Bus. Growth Dem. Charge Reduction program. | $10,000
max. per project (not to exceed 75% of required applicant contr.
to NYSERDA program) |
Rate
classification migrating from SC2 to SC3, One grant award per eligible
business, Program benefit may not be reassigned. |
| Strategic
Economic Development Program, NM - 05 |
Expertise & incremental resource to leverage resources more & better macro-level business development initiatives | Not applicable, depends on the project |
Project musty promote
specific regional or multi-regional assets & be targeted to
decision makers; Studies must not duplicate previous research; Leverage
funds required. |
| Three-Phase Power
Incentive, NM - 05 |
For
an owner of
eligible facility that needs financial help to fund the extension
of 3-phase electric service or alternatives agreed upon by NM, the
customer & NYSERDA. |
$50,000
per project
(Not to exceed 30% of total project cost) |
Lack
of 3-phase a
barrier (retention threat or growth opportunity), evaluation of
alternatives to 3-phase power, suitable for one of "economic growth"
industries or Agri-Bus. |
| Targeted
Financial Assistance, NM
- 05 |
For owners of eligible facility for gap
funding in energy discount progams providing energy price reductions to
business customers with significant growth opportunities & severe
competitive challenges. |
Max.
- $250,000 annual discount, Max.- 3yr period of discounts; Max. total
disc $500,000 over 3 yrs., Total amt of disc based upon jobs: 0-99: $100,000 100-199: $250,000 200-299: $350,000 300+: $500,000 |
Demonstrate competitive threat or
opportunity: facility closure, relocation out of NM territory or
ability to attract new jobs & investment; contestable energy
intensive business (or prospect business) in NM territory with an avg
metered mo. electric demand of 500 kw; Electric bill represents at
least 8% of annual gross revenue from sales; Facility has an avg. mo.
load factor of at least 70% |