The Niagara County Center for Economic Development can provide incentives in several different forms. www.nccedev.com
485-b Real Property Tax Exemption
Section 485-b of the Real Property Tax Law authorizes a
partial exemption from real property taxation for commercial, business and industrial real property constructed, altered, installed or improved after July 1, 1976. Exemption is on a graduated scale over 10 years starting at 50% abatement.
Lease/leaseback and Industrial Revenue Bond Program
Provides partial real property tax abatements, abatement of sales tax on construction materials and abatement of mortgage recording tax for sizeable capital investments and construction projects.
Micro Enterprise Assistance Program
Working capital, inventory and equipment loan program.
SBA 504 Loan Program
Provides low fixed-rate loans usually below the prime rate for machinery and equipment up to ten years in length and real property up to 20 years in length.
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