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County of Lewis Industrial Development Agency LOANS & GRANTS Contact the LCIDA for business assistance (315)376-3014 |
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     Dairy is Lewis County's Largest Industry |
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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.
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Loans & Grants
Overview
Accounting
System Busines
Plan Borrowers
Checklist Finance
Process Legal
Requirements
For additional information and programs go to Economic Links |
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| Program Name |
Program Description |
Funding |
Minimum Requirements* |
| 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 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 |
| National Grid |
Various programs |
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| New
Construction &
Substantial Renovation Programs |
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 |
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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
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County
of Lewis Industrial Development
Agency (LCIDA),
P.O. Box 106, 7642 N. State St., Lowville, NY 13367 (315) 376-3014 lcida@lcida.org
Copyright © County of Lewis Industrial Development Agency.All
rights
reserved.
Disclaimer
P.O. Box 106, 7642 N. State St., Lowville, NY 13367 (315) 376-3014 lcida@lcida.org
Copyright © County of Lewis Industrial Development Agency.