Incentives

Determining Eligibility

The Clarence IDA can provide customized solutions and counsel to help overcome financial or regulatory impediments to implementing development or expansion projects.

Potential applicants considering a project must contact the Clarence IDA at the main office, or through the Business Consultant or Economic Development Officer (see Contacts page) to determine eligibility and possible economic incentives. Generally, projects that include investment by manufacturing, logistics, back-office (finance & insurance related), research & development, and technology operations are eligible to apply for assistance.

Projects that do not fall into one of these previously described sectors (medical services, retail, lodging, etc.) should be discussed with the business development team of the Clarence IDA to determine what incentives and other assistance may be available.

Available Incentives and Assistance

The Clarence Industrial Development Agency can provide for tax incentives in three main categories to eligible projects:

1. SALES TAX EXEMPTION - Approved projects assisted through the Clarence IDA are exempt from payment of sales tax on construction materials, equipment, fixtures and non-production equipment.

2. MORTGAGE RECORDING TAX EXEMPTION - Clarence IDA approved projects are exempt from the 1% New York State Mortgage Recording Tax for commercial property.

3. PROPERTY TAX ABATEMENT - Eligible projects adding new taxable assessed value can apply for a tax abatement under Uniform Tax Exemption  (UTEP) PILOT (payment in lieu of tax) policy which classifies projects by use and occupancy. The PILOT policy for each classification requires payments to be made in accordance with a graduated scale over a varying period of time (established at the time of application and based on the project and business specifics) after which the property pays full as if owned taxes.

All projects differ from one another in scope, type and size of business. Potential applicants should call the CIDA office at 716-741-8935 for an initial appointment to meet with the CIDA representative who can best discuss the incentives and benefits that may be available to them.

If a project has additional funding needs, the Clarence IDA works with a variety of contacts and partners to provide additional incentives such as guidance for loans, workforce training funding, and other grant/tax incentives from a variety of State and Local sources.

Contact the Clarence IDA today at 716-741-8935 to find out how we can help grow your business!