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Programs and Incentives
Tax incentives

Tax incentives

Industrial Revenue Bonds

    • Funds are provided by commercial banks or private investors.
    • Best suited to larger, financially strong industrial, manufacturing, agri-business, corporate office, and R&D projects.
    • Proceeds are used to finance fixed assets, including real estate and building acquisition, construction or renovation, and acquisition of machinery and equipment.
    • Two forms of bond financing are “tax exempt” for industrial projects and “taxable” for most others.
    • Benefits of both are the ability to finance 100% of the fixed assets, exemption from sales tax on construction materials, equipment, furniture and fixtures, and real property tax abatements.
    • The added advantage of financing “manufacturing” projects of less than $10 million with tax-exempt bonds is the preferred interest rates available to qualified projects.
    • It is necessary to review the proposed project with a representative from the Niagara County Center for Economic Development to determine eligibility and benefits.

Lease/Lease Transactions

    • An alternative to conventional Industrial Revenue Bond financing which can also assist industrial, distribution, and R&D projects
    • Ideally suited to real estate/facility project.
    • Places title to the project to the Niagara County Center for Economic Development and the facility is leased back to the tenant/company.
    • As with an Industrial Revenue Bond project, a Payment-in-Lieu of Tax (PILOT) agreement is utilized to provide real property tax abatements and sales tax exemptions.
    • This type of project should also be reviewed with a representative from the Niagara County Center for Economic Development to determine eligibility and benefits.



***It is imperative to discuss your project with a Niagara County Center for Economic Development project manager before submitting an application in order to determine project eligibility. Please contact us today!
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