As the lead economic development agency in Broome County, we offer various financial incentives to promote the growth of our local economy.
For eligible projects, we can provide: Payment-in-Lieu- of Taxes (PILOT), an 8% NY State Sales Tax Exemption and a 1% Mortgage Recording Tax Exemption.
The Small Business Incentive Program can provide eligible applicants the following: an eight percent (8%) NYS sales tax exemption on all construction materials, machinery & equipment and FF&E.
The Uniform Tax Exemption Policy will apply to all installment sales and lease agreements in which The Agency holds nominal title to real and personal property on behalf of its clients.
This application is required to apply for Payment In Lieu of Tax (PILOT) programs, Sales and Mortgage Recording Tax exemptions and the issuance of Industrial Revenue Bonds.
This application is required to determine eligibility for tax-exempt bonds for large projects undertaken by non-profits.
We currently administer three revolving loan programs to help you retain or expand your employment base.
The STEED program is primarily designed to assist start-up and existing firms by offering low interest financial support.
The BDF loan program is designed to stimulate the creation and expansion of small business for the purpose of retaining and/or creating jobs in Broome County.
The BR+E Fund provides low interest financing to small business concerns unable to fully finance their projects with equity, conventional financing, or other private and public sources.