Financial Assistance
The Niagara County Industrial Development Agency (NCIDA) utilizes a variety of financing, tax incentive, and job training programs to induce economic growth. Many of these programs can be employed individually to meet a specific need or assembled to form a comprehensive development package. Contact the NCIDA to schedule a personal review of your project.
Downloadable forms:- NCIDA Application for Assistance Word Doc [Adobe PDF version] *
- Short Environmental Assessment Form (must be submitted with Application for Assistance)
- Niagara County Microenterprise Assistance Program Application (for prospective businesses)
- Niagara County Microenterprise Assistance Program Application (for existing businesses)
- Empower Niagara Application
* Note: It is imperative to discuss your project with a Niagara County Industrial Development Agency project manager before submitting an application in order to determine project eligibility. Any alteration of these application forms will result in an invalid application
Quick Links:- Industrial Revenue Bonds
- Lease/Lease Transactions
- Niagara County Revolving Loan Fund (RLF)
- Niagara Economic Development Fund (NEDF)
- Brownfield Revolving Loan Fund (BRLF)
- Microenterprise Assistance Program
- 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 the Agency to determine eligibility and benefits.
- 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 Agency 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 the Agency to determine eligibility and benefits.
- Direct loan program designed to promote economic development by providing "gap" financing for qualified projects.
- Loan amount is based on number of jobs created and/or retained.
- Will provide up to one third (1/3) of total project costs with a maximum RLF amount of $200,000.
- Loan proceeds can be used for working capital or fixed asset financing and bear a below-market rate.
- Loan terms are 3 to 15 years based on the use of proceeds.
- Most firms engaged in manufacturing, R & D and business services are eligible.
- Can provide 30% of total project costs or $250,000 (whichever is less). Funds the fixed asset portion of manufacturing, assembly or wholesale distribution projects.
- Loan amount based on jobs created/retained
- Below market interest rate, with terms of 7 years or less for machinery and equipment and 15 years or less for real estate.
- Loans are available to safely clean up Brownfields in order to facilitate their sustainable reuse.
- Maximum amount loaned is $425,000.
- Below market interest rate with term of 15 years or less.
- Retail Service Manufacturing Minority/WBE less than or equal to 5 employees
- Working capital Inventory Equipment
- Maximum Amount: $25,000
- Fixed: 80% of prime with floor of 5%
- Working Cap less than 5 yrsM and E less than 7 yrs.Interest and principal deferred for 6 months
- Program participants must be low/moderate income or create jobs for low/mod individuals. Must participate in a 12 week educational program
- Closing costs paid by microenterprise program. No commitment fee
