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Market Assistance

Market Assistance
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Business Incentives

New York is a great State, with beautiful and plentiful natural resources, a diverse and educated population, and direct access to expansive markets throughout the Northeast, the United States and
the world. It serves as the center of the global economy. It is for these reasons and more that Empire State Development (ESD), New York’s economic development agency, welcomes the chance to show
investors that New York would be a great location for a new or expanding business.

New York State has a variety of incentives: there are tax credits, low-interest loans and grants to name a few. Eligibility, applicability, and incentives are determined on a case-by-case basis. We encourage those considering an expansion into New York to visit ESD’s website to learn more about potential state economic development opportunities at: https://esd.ny.gov/industries/agribusiness.
 

NYS Governor and State legislators are committed to making the state a good choice for an expansion project. State corporate income tax on upstate businesses is 0%. Other tax incentives are also available; for example: Investment Tax Credit (ITC) – Credit equals 5% of investment in buildings and tangible personal property, acquired by purchase, with a useful life of four years or more and used in production, and is refundable to new businesses; Employment Incentive Credit (EIC) – credit, based on the same qualifying investment for the ITC, equal to 1.5% to 2.5% of investment, based on increased employment over the year prior to the investment. They have also instituted a property tax cap to encourage localities to limit local tax increases. And our partners at the local level also provide aid to economic development projects.

 

Excelsior Jobs Program
The Excelsior Jobs Program provides job creation and investment incentives to firms in such targeted industries as agriculture and manufacturing. Firms that create and maintain new jobs or make significant financial investment are eligible to apply for up to four new, fully refundable, tax credits:


Firms in the Excelsior Jobs Program may qualify for four new, fully refundable tax credits. Businesses claim the credits over a 10-year period. To earn any of the following credits, firms must first meet and maintain the established job and investment thresholds outlined in Program Eligibility below:

  • The Excelsior Jobs Tax Credit: A credit of up to 6.85 percent of wages per new job to cover a portion of the associated payroll cost.
  • The Excelsior Investment Tax Credit: Valued at two percent of qualified investments.
  • The Excelsior Research and Development Tax Credit: A credit of 50 percent of the Federal Research and Development credit up to three six percent of research expenditures in NYS.
  • The Excelsior Real Property Tax Credit: Available to firms locating in certain distressed areas (see Investment Zone list below) and to firms in targeted industries that meet higher employment and investment thresholds (Regionally Significant Project).

 

For more information go to: http://esd.ny.gov/BusinessPrograms/Excelsior.html

 

Grant Funds (chosen based on project specifics)
Another program based on qualifying capital investment and job creation and/or
retention is via grant funds.

 

  • Grant funds can assist with construction, expansion and rehabilitation of facilities;
  • and acquisition of machinery and equipment. Funds can be used for:
  • Real Estate and Land Acquisition
  • Demolition
  • Construction and Renovations
  • Site and Infrastructure
  • Machinery and Equipment
  • Construction Related Planning and Design
  • Soft Costs, etc.

 

For more information go to: https://esd.ny.gov/doing-business-ny.

 

Job Development Authority (JDA) Direct Loan Program
This program provides Direct Loans for the growth of manufacturing and other eligible businesses within New York State by assisting in financing a portion of the cost of acquiring and renovating existing buildings or constructing new buildings (“Real Estate” projects) or for purchasing Machinery & Equipment
(“M&E” projects).


In most cases, JDA Loans can be for up to 40% of the total project cost of Real Estate projects or Machinery & Equipment projects. The combination of a bank loan and a JDA Loan allows up to 90% financing of a
project. Typical financing structure:

  • 50% Bank Loan
  • 40% JDA Loan
  • 10% Borrower Equity

 

A JDA Real Estate Loan is normally a second mortgage loan, subordinate to a first-mortgage loan provided by a bank; Machinery & Equipment Loans are secured by a first lien, co-equal with the bank’s lien, on the M&E being financed.


Real Estate project costs include the cost of an existing building and renovations, purchase of land and construction of a new building and soft costs normally associated with a real estate transaction.


M&E project costs include the cost of the machinery and its delivery, installation costs solely attributable to the machinery being purchased and soft costs related to the Machinery & Equipment acquisition.

 

For more information go to: https://esd.ny.gov/businessprograms/jdadirectloanprogram.html

 

Re-Charge NY - New York Power Authority
For many businesses, low-cost power represents a significant opportunity. Almost all of the utilities in New York offer discounts on delivery to new manufacturers choosing to invest or grow in the State. In addition, the New York Power Authority’s ReCharge NY Program can allocate supplies of cleaner, less expensive power to qualified businesses across the State for up to seven years. ReCharge NY applications are accepted on an on-going basis via the Consolidated Funding Application.

 

For more information go to: https://www.nypa.gov/innovation/programs/recharge-ny

 

Local Assistance
Almost all will negotiate PILOTs (payments in lieu of taxes), and can offer sales tax exemptions for M&E and infrastructure going into new business operations, and a mortgage recording tax exemption.

Procurement Assistance

New York's Procurement Technical Assistance Centers (PTAC) provide free contract counseling to assist firms in selling to the military, federal, state and local governments.  


PTAC’s support to businesses includes registration in systems such as the System for Award Management (SAM), identification of contract opportunities, help in understanding requirements and in preparing and submitting bids. PTACs are the bridge between buyer and supplier, bringing to bear their knowledge of both government contracting and the capabilities of contractors to maximize fast, reliable service to our government with better quality and at lower costs. Learn more at https://www.sba.gov/tools/local-assistance/ptac

Contact the PTAC closest to your location: 

 

North Country PTAC

Procurement Technical Assistance Center

1241 Coffeen Street

Watertown, NY 13601

Phone: 315-788-4400

 

Cattaraugus County PTAC

Procurement Technical Assistance Center

303 Court Street

Little Valley, NY 14755

Phone: 716-938-2331

 

Genesee County Chamber of Commerce

Procurement Technical Assistance Center

210 East Main Street

Batavia, NY 14020

Phone: 585-343-7440

 

Rockland Economic Development Corporation - PTAC

Procurement Technical Assistance Center

2 Blue Hill PlazaP.O. Box 1575

Pearl River, NY 10965

Phone: 845-735-7040

 

Monroe County Finger Lakes - PTAC

Procurement Technical Assistance Center

50 W. Main StreetSuite 8100

Rochester, NY 14614

Phone: 585-753-2015

 

SoBRO PTAC

Procurement Technical Assistance Center

555 Bergen Avenue3rd Floor

Bronx, NY 10455

Phone: 718-732-7540

 

LaGuardia Community College Procurement Technical Assistance Center - PTAC

Procurement Technical Assistance Center

30-10 Thomson AvenueRoom B309

Long Island City, NY 11101

Phone: 718-482-5306

 

New York City Department of Small Business - PTAC

Procurement Technical Assistance Center

110 William Street2nd Floor

New York, NY 10038

Phone: 212-513-6444

Export Assistance

Global NY

Export Marketing Assistance Service (EMAS)

A global network of trade representatives can help NYS companies facilitate connections, foster relationships, and identify distributors and agents in foreign markets.

 

Contact: globalny@esd.ny.gov, 212-803-2300

For more information, visit https://esd.ny.gov/export-marketing-assistance-service-program

 

Global NY Grant Fund
The Global NY Grand Fund Program is open to New York State companies and non-profit organizations seeking to create or expand direct exports. Applicants can be reimbursed for up to 50% of eligible costs. This grant is open to 


For-Profit Companies:

  • Grants ranging from $10,000 to $25,000 (limit of two per year)
  • Eligible activities include: market customization, trade shows/trade missions, export education, product adaptation and market certification

Non-Profit Companies: 

  • Grants ranging from $10,000 to $50,000 (limit of one per year)
  • Eligible activities include: trade events and trade education

 

Contact: globalny@esd.ny.gov, 212-803-2300

For more information, visit https://esd.ny.gov/global-ny-fund-grant-program.

 

Global NY Loan Fund

Empire State Development works in partnership with lenders to extend financing to New York State companies seeking to create or expand direct exports, or to serve as suppliers to larger exporters. Leans of up to $500,000 are available for companies to purchase equipment and inventory needed to deliver on export-related contracts and provide working capital to support foreign accounts receivable. Companies must apply directly though participating vendors. 

 

Contact: globalny@esd.ny.gov, 212-803-2300

For more information, visit https://esd.ny.gov/global-ny-loan-fund-program.

 

State Trade Expansion Program (STEP)
In a partnership with the U.S. Small Business Administration (SBA), grants are being offered to qualifying small and medium-sized businesses to increase the number of businesses entering the export market, and to increase the value of exports for businesses that currently export. Business can apply twice per year for up to 75% reimbursement up to twice per year for distinct activities. Eligible activities include: 

  • Participation in foreign trade missions
  • Foreign and domestic market sales trips
  • Subscription services provided by the U.S. Department of Commerce
  • Foreign translation services and international marketing campaigns
  • Exhibiting at an international or domestic trade show
  • International trade workshops

 

Contact: STEP@sba.gov

For more information, visit https://www.sba.gov/content/state-trade-and-export-promotion-step-pilot-grant-initiative-cfda-59061-1.

 

Food Export Northeast
Food Export Northeast is a State Regional Trade Group that has the capacity to assist companies with export promotion. A variety of wood products are eligible for participation through the group’s brand program. This Branded Program provides 40-50% cost reimbursement, between $5,000 and $250,000, for businesses for a variety of international marketing activities including: 

  • International website development
  • Package and label modifications
  • Advertising
  • In-store promotions and product demonstrations
  • Fees for exhibiting at some overseas trade shows and selected trade shows held in the U.S. 
  • Public relations
  • Marketing and point-of-sale materials
  • Freight cost for samples

 

Contact: sue.santamarina@agriculture.ny.gov, 518-457-7229

For more information, visit https://www.foodexport.org/programs-services.


Appalachian Regional Commission Global Access Program
Wood products businesses in the Southern Tier of New York State are eligible for funding through the ARC’s Global Access Program. The Commission awards grants and contracts from funds appropriated to the Commission annually by Congress. Program grants are awarded to state and local agencies and governmental entities (such as economic development authorities), local governing boards (such as county councils), and nonprofit organizations (such as schools and organizations that build low-cost housing). Contracts are awarded for economic development in the Appalachian Region, specifically targeted at companies located in the 14 counties in New York along the Southern Tier.

ARC funds may be used for trade events overseas as noted below:

  1. Travel support for one public sector representative per ARC state
  2. Translation of materials to be used at the event and general translation services at the event 
  3. Shipping materials to the event
  4. Exhibit space and registration fees for the event for private businesses 
  5. Incidental services for the event 

ARC funds should be used for value-added export promotion projects within the Appalachian portion of each state and should not be used to replace state funds in ongoing state projects or programs. ARC-funded activities should be part of a comprehensive marketing effort.

For more information, visit https://www.arc.gov/program_areas/index.asp?PROGRAM_AREA_ID=23