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
- Empire State Development Programs
- NYPA Economic Development
How We Help
We can help lower your project costs and unlock capital through one of our aggressive tax reduction programs, identify the right loan fund to meet your project needs, from microenterprise firms and startups to large manufacturing and industrial companies. We can partner you with low-cost power incentives and green energy solutions for all levels of industry from non-profit to corporation. As a public benefit corporation The St. Lawrence County IDA is empowered to finance the acquisition, construction, or reconstruction of manufacturing, warehousing, research, commercial, industrial, and pollution control projects. Learn more about available opportunities for your new venture and don’t hesitate to contact a representative.
You have the vision, we have the roadmap to get there.
Tax Abatement Programs
Lower your project costs and unlock capital through one of our aggressive tax reduction programs.
The St. Lawrence County IDA has discretionary authority to provide 100% exemptions of state and local sales tax to assist new or expanding businesses that will positively impact the region.
We closely collaborate with local taxing jurisdictions to offer real property tax abatements and exemptions from sales, use and mortgage recording taxes.
- Real Property Tax Abatements apply to the value added by construction or renovation for 10-years once a project is complete. Industrial projects can get a 100% abatement on what the taxes would have been on the improvements for the first 5 years; then, 50% for the next 5 years. Abatement terms for non-industrial projects are determined between the developer and local taxing jurisdictions.
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 can still be eligible for a Mortgage Recording Tax Exemption on all 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.
- Up to 100% financing of land, construction, equipment, planning, and financing fees;
- Possible sales tax exemption on building materials and production-related equipment purchased from bond proceeds; and,
- Exemption from real estate taxes with a payment-in-lieu-of-taxes agreement.
For Tax-Exempt Bonds, the added benefits are lower interest rates than conventional bonds, and interest income is tax-exempt to the bond holder.
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.
Funding is available for a number of uses, including machinery and equipment, real estate, and working capital. In addition to managing our own loan programs, we work with local banks, regional funding partners, and state and federal agencies to help package the most comprehensive and affordable funding solutions possible for your project.
Click for additional program details or contact us to get started
Local 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 local, regional and State resources that best meet your unique project needs. Contact us to get started.
Regional Loan Funds are another source of financing for eligible firms locating in St. Lawrence County, including:
The Adirondack Economic Development Corporation (AEDC) focuses on helping people achieve the American dream of owning their own business. They offer training, counseling and business loans for those looking to get started or to take their business to the next level.
The Development Authority of the North Country (DANC) administers several loan funds created to encourage job creation and retention in Northern New York, including the Community Development Loan Fund, the North Country Transformational Community Tourism Revolving Loan Program Fund, and the North Country Economic Development Fund.
The North Country Economic Development Fund (NCEDF), is a $10 million revolving loan fund created in 2014 by the New York Power Authority (NYPA), that provides loans to businesses expanding their facilities and creating or retaining jobs in the region. It offers financing to eligible projects in Jefferson, Lewis, St. Lawrence, Clinton, Essex, Franklin, Hamilton and Herkimer Counties, and the portion of the Akwesasne Mohawk Reservation located within New York State.
North Country Alliance Revolving Loan Fund – one of the country’s most successful rural revolving loan funds that provides low-interest financing for the purpose of establishing new rural businesses, expanding existing, financing community development projects or creating new employment.
The St. Lawrence River Valley Redevelopment Agency
The St. Lawrence River Valley Redevelopment Agency (RVRDA) is a joint action agency whose voting members are appointed by St. Lawrence County and the four communities of Lisbon, Louisville, Massena and Waddington. The RVRDA was formed in 2010 to administer funds set aside through the New York Power Authority for economic development activities and programs in St. Lawrence County, New York.
The incentives and programs offered by the RVRDA are administered through the St. Lawrence County Industrial Development Agency Local Development Corporation and are designed to stimulate job creation and investment in St. Lawrence County. Contact us today for more information.
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.
For details, including eligibility and how to apply, please contact one of the business advisors at the SLCIDA.
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.