Business Development Programs
Personalized, professional support. Our business advisors will connect your growth goals to the ideal resources, programs and partners available to develop your business in St. Lawrence County.
As a full-service agency, the IDA has a variety of available industrial sites and buildings, administers loan packaging and industrial revenue bond financing programs and provides a variety of tax-reduction incentives.
While you focus on your business growth, we’ll provide you with expert assistance on financing and project development applications, and act as your liaison with banks, government agencies and regulatory commissions to coordinate and expedite projects within the County.
We are your direct link to site locations, financing, incentives, business programs, workers and training.
The IDA’s services and programs include:
- Site Selection Assistance
- Low-Interest Loan Programs
- Bond Financing
- Real Property Tax Abatements
- Payment-In-Lieu-Of-Taxes (PILOT)
- Sales and Use Tax Exemptions
St. Lawrence River Valley Redevelopment Agency
The St. Lawrence River Valley Redevelopment Agency (RVRDA) is a joint action agency formed in 2010 to administer funds and low-cost power set aside through the New York Power Authority (NYPA) for economic development activities in St. Lawrence County.
Administered through the IDA’s Local Development Corporation (IDALDC), RVRDA incentives and programs are designed to stimulate job creation and investment in the county, and include:
Funding is available for a variety of company sizes, types and uses, including machinery and equipment, real estate and working capital. These funds may be combined with bank, private or other public financing sources to create a comprehensive package of financing for a range of projects. Interest rates are fixed at one-half of the prime rate plus 1%. Normally, working capital loans will be extended for no more than three years; equipment loans from three to five years; and construction loans from five to ten years. Longer terms may be available for loans secured with real estate.
Site Development Programs
The RVRDA provides resources to develop an asset base of marketable and competitive sites and buildings to lease or sell for new business expansions. We can work with you to ensure you have the best site or building for your project.
St. Lawrence County Economic Development Power Program (SLCEDP)
The New York Power Authority (NYPA) has provided an allocation of 20 megawatts from the St. Lawrence-Franklin D. Roosevelt Power Project in Massena to support economic development in St. Lawrence County for business expansion and attraction purposes. This unique asset enables us to provide power allocations at significantly reduced rates. [Visit our Energy & Utilities page]