Whether you are an international company looking to move or a small business owner needing to access capital, the state’s programs are designed to help you.
New York State’s Empire State Development (ESD) offers loans, grants and tax credits, as well as other financing and technical assistance, to support businesses and encourage their growth within New York State.
Financial Assistance Programs
As part of Governor Cuomo’s transformative plan to improve the state’s economic development model, a NYS Consolidated Funding Application (CFA) was created to streamline and expedite the grant application process. The CFA process marks a fundamental shift in the way state resources are allocated, ensuring less bureaucracy and greater efficiency to fulfill local economic development needs.
Funding is available for the following projects:
Learn more about the CFA process and obtain an application.
Empire State Development (ESD) offers tax credits for strategic businesses such as high tech, bio-tech, clean-tech and manufacturing that create jobs or make significant capital investments. Learn more about the Excelsior Jobs Program.
New York State received $6.4 million in federal funds to offer businesses training support under the On-the-Job Training/National Emergency Grant (OJT/NEG) Program. This program encourages the hiring of long-term unemployed dislocated workers and helps offset the cost of training.
Taxes and Incentives
START-UP NY is a groundbreaking new initiative from Governor Andrew M. Cuomo that will provide major incentives for businesses to relocate, start up or significantly expand in New York State through affiliations with public and private universities, colleges and community colleges. Businesses will have the opportunity to operate state and local tax-free on or near academic campuses, and their employees will pay no state or local personal income taxes. In addition, businesses may qualify for additional incentives.
New York State now has one of the lowest corporate income tax rates in the Northeast. In addition to lower corporate taxes, New York offers a variety of incentives to companies expanding or relocating in the Empire State. These include:
The staff at The Development Corporation welcomes the opportunity to discuss how New York State may be able to support your business via loans, grants and tax credits, as well as other financing and technical assistance.