There are a variety of financing incentives are available from federal, state and local agencies to assist in starting or expanding a business in the region.
Financial incentives in the region include:
- Industrial Revenue Bonds
- Sale-leaseback arrangements
- Revolving Loan Funds
- Tax-exempt and bond financing
- Industrial Revenue Bonds
- North Country Alliance Fund (fixed assets and working capital to businesses with fewer than 100 employees)
- Tax abatement
- Long term/low interest loans
- Loan guarantees for the acquisition of property, construction of buildings and purchase of equipment
- Payments-in-lieu-of-taxes, or PILOTS
- Relocation expenses
- Business start-up or expansion
- Wage tax credits
- Investment credits
- Telephone rate reduction
- Power rate reduction
- Sales and use tax exemptions
- Mortgage Recording Tax exemptions
Examples of incentive programs include:
- Environmental Investment Program: helping businesses capture the economic benefits associated with pollution prevention, waste reduction, re-use and recycling.
- Global Export Market Services (GEMS): A matching grant program to help small- and medium-sized businesses expand their international activities through increased export activity through technical and marketing assistance.
- Job Development Authority Direct Loan Program: providing direct loans for the growth of manufacturing and other eligible businesses in New York State by assisting in financing a portion of the cost of acquiring and renovating existing buildings or constructing new buildings, or for purchasing machinery and equipment.
- JOBS Now: grants for financial assistance of major business expansion and attraction efforts that will create or attract significant numbers of permanent, full time private sectors jobs in New York State.
- Manufacturing Assistance Program: providing financing for the growth of manufacturing in New York State.
Drum Country also offers a number of job training and workforce development programs and incentives, including:
- Jefferson Community College Business and Industry Training
- Jefferson County Department of Employment and Training Services
- New York State Department of Labor Services
The statewide system of Boards of Cooperative Education Services (BOCES) functions as an intermediate arm of the New York State Education Department. Part of the role of BOCES is to maintain adult learning centers and to provide vocational and occupational training through these centers.
St. Lawrence-Lewis BOCES and Jefferson-Lewis BOCES training centers offer training in the following fields:
- NATE Specialties
- Automotive Technology
- Auto CAD
- Fluid Power
- Asbestos Awareness
- Labor Relations
In addition to these training courses, BOCES also offers customized programs in response to specific business needs, industries and human service agencies. These customized training programs identify specific training needs, adapt curriculum to meet an organization’s goals, provide instructors with expertise in the training area, and deliver training on or off campus.
For more information on financial or training incentives:
Michelle Capone, Senior Project Development Specialist
317 Washington St.
Watertown, NY 13601