Wyoming County IDA
The Wyoming County IDA (WCIDA) is a public benefit corporation established in 1974 under New York State legislation and regulation. The agency is governed by a seven member volunteer Board of Directors who are appointed by the Wyoming County Board of Supervisors. The Executive Director / CEO, selected by the IDA Board, manages daily operations.
The WCIDA is able to provide corporate financing and incentive programs offered by local, regional, state and federal agencies. Some of the key incentives the WCIDA can offer:
- Property Tax Abatement
Available for business expansion projects for a 10-year period on the improved value of property
- Mortgage Recording Tax Abatement:
Equaling 1.25% of the mortgage amount
- Sales Tax Abatement:
Provides for the abatement of sales tax on eligible purchases prior to the transaction
Wyoming County Business Center
Established in 2006 as a not-for-profit local development corporation by the Wyoming County Board of Supervisors, we provide opportunities for business growth by promoting and assisting economic development projects that result in capital investments and job creation and retention in Wyoming County, NY.
We are proud to offer several outstanding programs to help you start and grow your business including:
- Wyoming County Business Fast Track Program
- Wyoming County Business Accelerator Academy
- Wyoming County Business Mentorship Program
- Wyoming County Rapid Start Loan Program
- Wyoming County Micro-Loan Program
Wyoming County Business Assistance Corporation
The WCIDA provides a Business Development Revolving Loan program ("BDRL") under the Wyoming County Business Assistance Corporation.
The WCBAC provides gap financing to help businesses secure needed funds for their projects and works with traditional financing institutions as well as state and federal programs to encourage economic development. This cooperative approach to financing opportunities offers the prospective borrower a more diverse financing package and leverages all funding opportunities available for their specific needs.