Start your booming business in Broome! Broome County is a rural area with a great inventory of sites to expand, build, or relocate your business. Our county is known for its beautiful agriculture land with local small cities that hold all your needs. Our strategic location has a heavy consumer population with nineteen surrounding major highways that connect across our borders. We are also the home to the top SUNY, Binghamton University, and the most competitive K-12 education systems, producing some of the smartest workforce for businesses like yours. Broome County has an average commute of 20 minutes, with focused areas that offer grocery stores, fast food outlets, clothing stores, medical facilities, and much more! The county generates nearly eight billion dollars per year from economic activities, ranking it in the top ten New York counties in economic finance production and, with an average home value of $112,300, our county helps provide the happy, balanced life you need with little-to-no hiccups!
When building and expanding your business, the major concern that arises are costs, including land, furniture, machinery, and more. Luckily, The Agency recognizes the potential of your business and offers various financial incentive programs and a diverse portfolio of projects to promote the growth of business in the area. The Agency is the lead economic development agency in Broome County and serves as a partner and investor that deliveries clear benefits including job opportunities, developmental sites, and an enhanced quality of life.
The types of financial assistance available through the organization are Real Property Tax Abatements, Sales and Use Tax Exemption, Mortgage Recording Tax Exemption, and Industrial Revenue Bonds. The organization provides a small business incentive program, giving an eight percent New York State sales tax exemption on all construction materials, machinery, equipment, and FF&E. We have the ability to assist with financing up to 50% into your project alone, or 40% with a third-party lender, giving you the best financial options to pursue your goals. Our incentives have driven the success of many businesses thus far, and we are eager to assist with your next project!
The Agency is looking to meet your needs right from the beginning, working with multiple programs to jump start and improve businesses that provide for our county. The Business Retention & Expansion (BR+E) program allows you to meet with our business development experts face to face to unpack and reorganize your innovative business ideas, assist with program applications, and carve out a path for your business success focusing on workforce creation and maximizing the good life of in Broome County. This program works to trouble shoot obstacles and facilitate the growth of our economy, identifying potential partners and resources to assist your business, and offering loan financing, expansion assistance, tax incentives, and tax exemptions. At The Agency, we strive to make your path to success smooth and effortless.
Our organization can provide you with various developmental opportunities, maintaining a wide variety of properties that are yearning for your business’s development. Our team will discuss improvements and changes within your property before and during the construction of your project, targeting challenges at the root, to continue the positive progression of your site. While advancing projects, we also focus on creating job opportunities during construction, as well as permanent full-time placements for the Broome County workforce. We work with industry and government partners like Broome-Tioga Workforce to create workforce systems that are stakeholder driven and in alignment with targeted industries and regional economic development initiatives, addressing and securing workforce shortages. The Agency aspires to constantly bring improvements, jobs, and people to our county, successfully naming us the premier economic development office in Broome County.
Broome County provides an all-around happy and healthy life through its incredible workforce, beautiful agriculture, local schools and shopping centers, easy health care and so much more! The Agency provides a diamond step to success in beginning your good life here, thrilled to watch and assist with your business growth contribute to the improvement our county’s economic ecosystem. With your business located in Broome County, you have the life-time opportunity to easily provide a happy life for you and your family as well as discover success as an entrepreneur. In Broome County, the only life is the good life.
Author Kalyna Graham is a high school student at Newark Valley HS and a participant in the Broome Tioga BOCES New Visions Business Academy