Business Incentives

New York State, each of the counties within the Greater Rochester, NY region (Genesee, Livingston, Monroe, Ontario, Orleans, Seneca, Wayne, Wyoming, and Yates) and the City of Rochester offer incentives to encourage business investments that drive economic growth and job creation.

The incentives provided by economic development agencies are based on total capital investment and job retention and/or creation by a company over 3 to 5 years. Programs are available individually or bundled as part of a comprehensive package for larger capital investments that retain or create jobs as well as projects that create many high paying jobs.

Incentives may apply to companies:

Acquiring land, buildings or machinery and equipment
Constructing or renovating buildings for business operations, including leasehold improvements
Constructing or improving infrastructure required for new location or expansion
Training new or existing employees

Incentives generally fall into one of four categories:

Tax Exemptions, Tax Credits, and Incentives
Special Incentives, including power related
Grants
Loans

The availability of each type of incentive is dependent upon the unique details of the project and the costs associated with it. Here are a few examples:

Excelsior Jobs Tax Credit (refundable credit of 6.85 percent of wages per new job)
Excelsior Investment Tax Credit (2% for qualified investments)
Excelsior Research and Development Tax Credit (50% of the Federal Research and Development credit up to 3% of research expenditures in New York State)
Excelsior Real Property Tax Credit (available in certain areas and targeted industries)
Real Property Tax Exemption on improvements to the property over 10 or more years
Personal Property, whether Tangible or Intangible, is Exempt from Ad Valorem Taxation
Employee Training Incentive Program (tax credit of 50% on eligible training costs up to $10,000 per employee)
Life Sciences Tax Credit Program (refundable tax credit of 15% for R&D in New York State)
$30 Million New York State Photonics Attraction Fund
No Corporate Income Tax for Qualified Manufacturers
No Personal Property Tax in New York State
Utility Infrastructure and Energy Efficiency support
Low-Cost Power Allocations
Sales and Mortgage Tax Abatements
Low-Interest Loans and Interest Subsidies
Opportunity Zone Investment Tax Benefits
Foreign Trade Zone
Grants
Recruitment Assistance and Training Grants