Summary

The Cayuga County Industrial Development Agency (CCIDA) was formed under Article 18-A of New York State General Municipal Law to actively promote, encourage, attract and develop job opportunities and economically-sound commerce and industry in Cayuga County. CCIDA is empowered to provide financial assistance to private entities through tax incentives in order to promote the economic welfare, prosperity and recreational opportunities for residents of Cayuga County. Any company considering a construction, renovation, or expansion project or other economic development activity within the County, or that is seeking assistance to retain its business interests in the County, should contact CCIDA. CCIDA is empowered to offer the following incentives:

  • Sales & Use Tax exemption during the construction/renovation phase of the project

  • Mortgage Recording Tax abatement (exemption of 75% of the mortgage recording tax amount)

  • Real Property Tax abatement

  • Tax exempt, below market financing

CCIDA has a Local Labor Policy that requires the use of Cayuga County labor for a percentage of the construction work for each approved project. A non-comprehensive list of contractors in Cayuga County is available.

Application for Financial Assistance - We encourage you to contact our staff if you are interested in applying for any of these incentives.

Types of Projects

Large Projects: For eligible projects with a total project cost above $750,000, CCIDA may approve a payment in lieu of tax (PILOT) program to assist with Real Property taxes where capital investment is likely to trigger a parallel increase in assessment, as well as Sales & Use Tax and Mortgage Recording Tax exemptions. The applicant will be responsible for an administrative fee of 1% of the total project cost, as well as all legal fees incurred by CCIDA. At the time of application, the applicant must submit a $500 processing fee and a $7,000 legal fee deposit. The administrative fee is due at closing, as well as any legal fees in excess of the deposit.

Small Projects: Eligible projects with a total project cost over $500,000 can take advantage of CCIDA's Small Projects program. In these cases, CCIDA may offer a Sales & Use Tax exemption and a Mortgage Recording Tax exemption. The primary benefit of the Small Projects program is a reduced fee structure. Project applicants pay 10% of the estimated total benefit (with a minimum of $4,500). Further more, the Small Projects program offers predictable legal fees with a flat fee of $2,500 if they are seeking Sales & Use Tax exemption only, or a flat fee of $5,000 if they are seeking both Sales & Use Tax and Mortgage Recording Tax exemptions. Please note, however, that there are occasionally special circumstances that require some extra legal coordination and therefore some additional legal fees may be incurred. At the time of application, the applicant must submit a $500 processing fee and a $2,500 legal fee deposit. The administrative fee is due at closing, as well as any legal fees in excess of the deposit. These projects are also encouraged to take advantage of the existing state 485-b program, which assists with Real Property Taxes but is not administered by CCIDA.

Application for Financial Assistance

Please feel free to review CCIDA's Application for Financial Assistance to get a feel for what is required of applicants. We encourage you to get in touch with our staff if you are considering applying. Our staff can help you to determine the most beneficial combination of benefits, provide assistance with the application process, and/or direct you to additional business assistance resources.

For additional information or if you are interested in applying, please contact us!