Financing & Incentives
The SLC IDA provides a variety of financing and incentive programs to help jumpstart your business in St. Lawrence County.
We're Here For You
Of all the available incentives to help jumpstart your business in St. Lawrence County, the one you will appreciate most is us. Our team helps you every step of the way, finding the financing and incentives best suited to your project now, and whenever you need us in the future.
- Tax Abatement Programs
- Bond Financing
- Loan Funds
- RVRDA: St. Lawrence River Valley Redevelopment Agency Programs
- Empire State Development Programs
- NYPA Economic Development
Tax Abatement Programs
Lower your project costs and unlock capital through one of our tax reduction programs.
The St. Lawrence County IDA works closely with local taxing jurisdictions to offer real property tax abatements and exemptions from sales, use and mortgage recording taxes to assist new or expanding businesses that will positively impact the region.
- Real Property Tax Abatements apply to the value added by construction or renovation for 10 years once a project is complete. In exchange for the tax abatement, developers make Payments-In-Lieu-Of-Taxes (PILOT) structured by the St. Lawrence County IDA with approval by the taxing jurisdictions.
- When approved for Sales and Use Tax Exemptions, developers can purchase project-related construction materials, equipment, furnishings, and services with an exemption from local and State Sales and Use taxes as an agent of the St. Lawrence County IDA.
- Even if the St. Lawrence County IDA does not provide the financing or issue bonds for your project, you may still be eligible for a Mortgage Recording Tax Exemption on project related financing.
Companies with strong financial positions and solid operating histories proposing projects that create jobs and invest capital in St. Lawrence County may be eligible for industrial revenue bond financing. Negotiable, tax-exempt or taxable bonds and notes are available through the IDA to finance acquisition, construction, or reconstruction of manufacturing, warehousing, research, commercial, industrial, and pollution control projects. Contact us to discuss your financing needs and eligibility for industrial revenue bond financing.
A variety of loan funds are available to meet your project needs, from microenterprise firms and startups to large manufacturing and industrial companies.
Our business advisors work with you to determine which programs you should apply for, including:
- SLC IDA Local Development Corporation Business Venture Fund offers fixed rate, low interest loans for up to $400,000 or 30% of project costs to eligible manufacturing, industrial, commercial, and warehousing operations located in St. Lawrence County. Download program PDF
- Microenterprise Program provides financing assistance to low-moderate income persons in St. Lawrence County to start or expand their microenterprise businesses (up to five employees, one being the owner). Contact us to answer any questions and to apply.
- Created by the New York Power Authority, the Greater Massena Economic Development Fund provides low-interest loans for up to $200,000 or 30% of project costs to support business growth in the Town of Massena and St. Lawrence County. Download program PDF
- Local & Regional Loan Funds are also available for eligible projects in communities throughout St. Lawrence County. When you work with us, we’ll help you determine the ideal resources to meet your unique project needs. Contact us to get started or visit the following resource partners to learn more:
- Ogdensburg: Growth Fund Development Corporation
- Potsdam Planning and Development Office
- Adirondack Economic Development Corporation
- Development Authority of the North Country: Community Development Loan Fund, the North Country Transformational Community Tourism Revolving Loan Program Fund
- North Country Economic Development Fund
- North Country Alliance Revolving Loan Fund
The St. Lawrence River Valley Redevelopment Agency (RVRDA)
A power supply contract was authorized in 2012 by New York State Governor Andrew M. Cuomo, between the New York Power Authority and the Massena Electric Department, making available up to 20 megawatts (MW) of low-cost hydropower to help support economic development and job growth in St. Lawrence County. This power and $16 million in funding provided by NYPA are economic development incentives offered by the St. Lawrence River Valley Redevelopment Agency in partnership with the St. Lawrence County Industrial Development Agency Local Development Corporation.
Empire State Development Programs
Welcome to the State of Opportunity in New York’s North Country Region! You’ll find an array of Empire State advantages: tax-based incentives, partnerships fostering the development of innovative technologies and products, and the financial support needed to help businesses grow.
We work closely with our partners at ESD to create the perfect place for your business.
Contact us to get started and we’ll introduce you to our partners at ESD.
NYPA Economic Development
The New York Power Authority (NYPA) helps support St. Lawrence County business attraction and retention through our Northern New York Economic Development Fund and low-cost power* programs.
NYPA is the largest state electric utility in the nation, with 16 generating facilities and over a thousand miles of transmission lines – providing customers with the innovative services they value.
Northern New York Economic Development Fund (NNYEDF)
The NNYEDF, also referred to as the Power Proceeds program, is provided and administered by NYPA using net earnings from the sale of unallocated St. Lawrence Economic Development Power generated at the Power Authority’s St. Lawrence-FDR Power Project in Massena.
The Northern New York Power Proceeds Allocation Board (NNYPPAB) reviews applications for grants that support eligible costs and capital investment for economic development projects in St. Lawrence County that will lead to the creation or maintenance of jobs and tax revenues for the state and local governments.
Email firstname.lastname@example.org for more info.
St. Lawrence County Economic Development Power (SLCEDP)
SLCEDP is comprised of 20 MW of hydropower generated at the St. Lawrence Franklin D. Roosevelt Power Project in Massena for use in supporting business expansion and attraction projects located in St. Lawrence County. This allocation of low-cost electricity* is available for sale to the Massena Electric Department (MED) for economic development projects with administrative assistance provided by the SLCIDA.
Contact us for details, including eligibility and how to apply.
Eligible businesses that locate or expand in St. Lawrence County can apply for competitively priced electricity available from NYPA’s Preservation Power program.
Designed to create jobs in New York’s North Country region (St. Lawrence, Franklin and Jefferson counties), Preservation Power’s clean, renewable hydropower is generated locally at NYPA’s St. Lawrence-Franklin D. Roosevelt Power Project in Massena.
Preservation Power’s low-cost electricity* can be the advantage you need to power your business growth.
Call 1-914-330-1425 or email email@example.com for more info.
Control long-term electricity costs and stay competitive with the right tools like ReCharge NY, a NYPA economic development power program available across New York State.
ReCharge NY offers qualifying businesses and nonprofits low-cost energy*, for retaining or creating jobs, expanding operations, and/or making significant local investments. In addition, you’ll have access to energy efficiency and green energy programs.
For details, contact an energy advisor at NYPA’s Economic Development Team
* Power pricing results will vary based on individual operating characteristics.