Incentives / Support

LOCAL INCENTIVES/SUPPORT

Village of Newark Land for Jobs Policy - In an effort to attract new businesses to the Village, this policy was instituted whereby businesses would be deeded land, at no charge, for the construction of structures for any business purpose in exchange for the creation of a specific number of full-time jobs. The offer is good on any Village-owned land parcel. The business can erect a new structure or expand an existing facility. For every acre requested, one (1) full-time job equivalent must be created and retained during a period of three years commencing on the day the Certificate of Occupancy is issued.

Wayne County Economic Development Loans:

• WCIDA / WEDC - Project Assistance Guide - Document with guidance regarding the Wayne County Programs listed below.
• Wayne County Microburst Loan Program - Makes loans up to $150,000 for the purchase of fixed assets or working capital. This fund is designed to provide small loans to start-up or newly established businesses. A key objective of the program is to assist Wayne County residents who have traditionally had difficulty accessing debt financing for their new business.  Funds may be used for working capital, inventory purchases, machinery and equipment, furniture, fixtures, supplies, leasehold improvements, minor building renovation/rehabilitation, or natural disaster recovery.

• Wayne County Microenterprise (Micro) Revolving Loan Fund -  This fund is designed to provide small primary loans of up to $150,000 to established or expanding small businesses. Funds may be used for working capital, inventory purchases, machinery and equipment, furniture, fixtures, supplies, leasehold improvements, minor building renovation/rehabilitation, or natural disaster recovery.  This is available for businesses with five or fewer employees within Wayne County.

• Wayne County Revolving Loan Fund -  This fund provides a second source of financing (gap financing) of up to $500,000 for eligible businesses wishing to expand or locate in Wayne County and who have been unable to fully finance their projects with equity, conventional financing, or other private and public sources. Funds can be used for the acquisition of land, buildings, and fixed equipment, site preparation & construction, reconstruction or installation of buildings and fixed equipment, the payment of assessments for sewer, water, street, and other public utilities, and working capital (inventory and direct labor costs only).

• Wayne County Brownfield Revolving Loan Fund - The Brownfield Revolving Loan Fund Program provides financial assistance in the form of loans to support cleanup activities at brownfield sites contaminated with hazardous substances. WEDC may allow for interest only payments during the remediation period. Following the remediation period, WEDC can provide a 10-year loan with principal and interest.

• Wayne County Growing the Agriculture Industry Now (GAIN) Revolving Loan Fund - This loan pool will support capital projects for the creation, retention and expansion opportunities for the region’s farmers and agricultural related businesses. Funding for GAIN!  of up to $200,000 is being made available by support from the Empire State Development Agency (ESD), the Finger Lakes Regional Economic Development Council, and the Genesee/Finger Lakes Regional Planning Council. Applicant information (name and social security, etc.) is held on file for ESD audits of the program in order to verify the information.

• Small Business Administration Program (SBA 504) - This fixed asset economic development program from the U.S. Small Business Administration promotes growth and job creation in small businesses. The Wayne Economic Development Corporation is a resource center for this program and provides long-term, second mortgage money for expanding businesses. SBA 504 loans are used in conjunction with conventional bank financing to provide a total of 90% of project costs or appraised value. Loans are available from $100, 000 to $1,000,000 or up to 40% of total project costs. More information can be found on the SBA website.

Wayne County Industrial Development Agency Programs:

• WCIDA / WEDC - Project Assistance Guide - Document with guidance regarding the Wayne County Programs listed below.

• IDA Revenue Bonds and Tax Incentive Program - WCIDA helps facilitate the financing of an industrial or qualified non-industrial project through issuance of taxable or tax-exempt industrial development or industrial revenue bonds (IDB or IRB). Tax incentives may be accessed without bond financing using a sale/leaseback transaction. The WCIDA has adopted a countywide policy for the provision of real property tax incentives for expanding manufacturing industries. The incentives provided apply to value-added only. This 10-year program allows for a 100% abatement for the first five years and a 50% abatement the second five years of County, Town, Village, and School District real estate taxes, except special districts.

• Business Property Tax Exemption - Available for County, Town, Village, School District and Special District taxes. It consists of a 50% exemption in increased assessed valuation for the first year for any new construction or improvement exceeding $10,000. This exemption would decline 5% per year for an additional nine years yielding a graduated exemption over 10 years. It cannot be used in conjunction with the IDA tax incentive program.

• PILOT - Real property tax exemptions are provided by the IDA and include a Payment in Lieu of Tax (PILOT) agreement that contains a scheduled payment plan of 10 years based on a property’s current assessed value prior to improvements. Standard WCIDA property tax abatement schedules (PILOT Agreements) begin with a 100% exemption for years 1-5, and 50% for years 6-10. A project cannot utilize a 485-b exemption and a PILOT simultaneously. Fees including legal, agency, and administrative are included in PILOT agreements and should be considered prior to application.

• Mortgage and Sales Tax Exemptions -  Mortgage Recording Tax and Sales Tax exemptions for the purchase of machinery, materials, equipment, site work, and other capital investments are available for projects that qualify for WCIDA benefits. These programs can be combined for qualified projects. 

  *Please note that Public Officers Law declares that all records in the possession of the WCIDA (with certainty limited exceptions) are open to public inspection. If the applicant feels there are elements of the project that are in the nature of trade secrets which, if disclosed to the public or otherwise widely disseminated, would cause substantial injury to the applicant’s competitive position, the applicant must identify such elements in writing and request that such elements be kept confidential. In accordance with Article 6 of the Public Officer’s Law, the WCIDA may also redact personal, private, and/or proprietary information from publicly disseminated documents. 

• Real Property Tax Law, Section 485-b Applicants with total project costs under $1,000,000 are encouraged to consider utilization of a 485-b exemption. Section 485-b of the Real Property Tax Law authorizes a partial exemption from real property taxation for commercial, business or industrial property constructed, altered, installed or improved subsequent to July 1, 1976. Ordinary maintenance and repairs do not qualify for exemption. Generally the amount of the exemption in the first year is 50% of the increase in the assessed value attributable to the improvement. The exemption amount then decreases by 5% in each of the next nine years. Application for exemption from county, city, town and school district taxes must be filed with the town assessor, not the Office of Real Property Tax Services. The application must be filed in the assessor’s office on or before the appropriate taxable status date and within one year from the date of completion of the improvements.

Greater Rochester SCORE - Providing the right resources to new and expanding businesses:

• Mentoring - Free, confidential, professional one-on-one in person or online (585)-263-6473

• Workshops - Low-cost workshops aimed at meeting your needs. Business start-up, social marketing, QuickBooks and more

• Advisory Services - Problem-solving, planning, process improvements

Greater Rochester Enterprise (GRE) Regional Economic Gardening Program - This program is designed to provide sophisticated, tailor-made technical assistance to local companies poised for growth in the Greater Rochester, NY region. GRE partners with the Edward Lowe Foundation, a national nonprofit organization that supports entrepreneurship, to provide this unique program to Rochester area companies. This is a free service.

Finger Lakes Hired - Are you struggling to find the right talent for your business?  Take advantage of a new opportunity to recruit, train, and try out new candidates at little or no cost to you! 

Monroe County/Finger Lakes APEX Accelerator – Government Contract Counseling – MCFL APEX Accelerator offers services through workshops, webinars and one-on-one counseling, along with free daily bid matching. Serving the nine-county Finger Lakes region, including Wayne County, MCFL APEX Accelerator assists firms in selling to the federal, state and local government, and the military.

STATE INCENTIVES/SUPPORT
 

Excelsior Jobs Program - The Excelsior Jobs Program provides job creation and investment incentives to firms in such targeted industries as biotechnology, pharmaceutical, high-tech, clean-technology, financial services, agriculture and manufacturing. Firms in these industries that create and maintain new jobs or make significant financial investments are eligible to apply for up to four new tax credits. The program encourages businesses to expand in and relocate to New York while maintaining strict accountability standards to guarantee that businesses deliver on job and investment commitments. 

Empire State Development (ESD) - The mission of Empire State Development is to promote a vigorous, inclusive and growing state economy, encourage business investment and job creation, and support diverse, local economies across New York State through the efficient use of loans, grants, tax credits, real estate development, marketing, and other for assistance. The Village of Newark is in an “Opportunity Zone”.  

FuzeHub - a new, federally funded initiative to better connect New York’s small and mid-sized manufacturing companies to the resources, programs and expertise they need for technology commercialization, innovative solutions and business growth. FuzeHub unites and integrates a broad network of multi-disciplinary public and private sector technology, industry and commercialization services, experts and partners. It bridges the gap by providing fast access through a convenient, 24/7 online request service, numerous event opportunities for meeting with solution partners, and direct assistance from an Innovation Specialists team every step of the way.   They are a center and source for fast connection to reliable, targeted solutions and expertise. 

New York Small Business Development Center (SBDC) – The New York SBDC offers free counseling to any New Yorker hoping to start or grow a small business. Direct, one-to-one counseling and technical assistance are available in areas that include:  business plan development, small business start-ups, marketing, organizational structures, finance planning, exports, financing strategies, business expansion, training programs. The New York SBDC also offers a host of programs designed for specific groups of entrepreneurs or focusing on particular business needs, including the Office of Entrepreneurial Education’s (OE2), International Business Development office, and Veterans Business Outreach Program (VBOP).  Beyond these programs, the New York SBDC also provides specialized services and outreach to: Women business owners & entrepreneurs, Minority business owners & entrepreneurs, Native American business owners & entrepreneurs. (585)-395-8410.

New York State Energy Research and Development Authority (NYSERDA) - A myriad of loan, grant and other financing options are available through many sources. 

New York State Electric and Gas (NYSEG) - Eligible small businesses will receive free energy assessments, and up to 60% of the cost of recommended equipment upgrades will be covered through the Small Business Direct Install Program.  In addition, NYSEG  offers a host of economic development programs to help build a strong and healthy economy in upstate New York. These programs can help existing businesses expand and attract new businesses to our service areas. Through our Economic Development Programs, NYSEG continues its strong collaborative effort with economic development partners at the local, regional and state levels. 

FEDERAL INCENTIVES/SUPPORT 
 

U.S. Small Business Administration (SBA) - Offers a number of loan programs; Basic 7 (a) Loan Guarantee, Certified Development Company (a 504 Loan Program), and a Microloan (a 7m Loan Program).