The Town of Lockport can provide incentives in several different forms.
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.
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.
Micro Enterprise Assistance Program
Working capital, inventory and equipment loan program.
The Microenterprise Assistance Program is administered by the Niagara County Industrial Development Agency. The program assists small businesses looking to expand and startup companies that create new job opportunities in Niagara County. The program is designed for retail, service, or manufacturing companies that have 5 or less employees.