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Business Expansion Financing
North Country Alliance members offer a full range of financial resources to support business expansion. Tha Alliance functions as a single point of contact for local, state and federal financing programs. These include:
Local Financing Programs:
- Industrial Revenue Bonds
- A number of local and county revolving loan funds
- The North Country Regional Revolving Loan Trust Fund
New York State Financing Programs:
- Targeted Investment Program
- Industrial Infrastructure Development Program
- Rural Development Loan Fund
Federal Financing Programs:
- Economic Development Administration
- Farmers Home Administration
- U.S. Department Housing and Urban Development
Tax Incentives
Depending on specific financing arrangements, firms locating in New York's North Country may benefit from either property tax abatement of payment-in-lieu-of-taxes (P.I.L.O.T.) agreements which can significantly reduce start-up costs.
New York State Economic Development Zones
Companies locatingin one of these Economic Development zones within the North Country Region may be eligible for a number of financial incentives:
- Investment tax credit for new construction or equipment
- Wage tax credits for newly-created full-time jobs
- Refunds of some state sales taxes
- Significantly lower utility costs
- Priority access to low interest rate financing
- Property tax exemptions
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