The mission of the Erie County IDA is to provide the resources that encourage investment, innovation and international trade - creating a successful business climate that improves the quality of life for the residents of the region.
Who We Are
The Erie County Industrial Development Agency (ECIDA), is a public benefit corporation created in 1970 by an act of the New York State Legislature to promote and assist private sector industrial / business development thereby advancing job opportunities and economic well-being to the people of Erie County. The State of New York sanctioned the ECIDA to offer tax incentives, or tax discounts and exemptions, to qualified businesses who invest in the community within the borders of Erie County.
The ECIDA does not receive any direct funding for its operations from any local, state or federal tax sources. Instead, the cost of operating the IDA is paid primarily by those businesses that benefit from the economic development services they receive: the ECIDA collects fees from the businesses we enter into contracts with. The ECIDA does not use taxpayer funds for operating costs; we are self-funded, and we are not part of the Erie County government body.
What We Do
ECIDA is in business to grow business in Erie County by helping business be competitive and profitable. We can deliver
- Business Incentives, Tax Exemptions, Bonds
- Facility / Brownfield Development
- Financial Assistance, Loans, Venture Capital
- International Trade Assistance
- Referrals and Resources
- Transportation, Infrastructure Financing
Our key personnel are responsive and focused on your business to ensure that you have the financial support to grow and prosper in Erie County. We offer
- Tax exemptions, leases and tax abatements approved within 60 days of application
- Confidentiality of all proprietary information
- Coordination with other government agencies
- Loans approved in an average of 30 days
- Assistance with projects from $5,000 to $500 million
In addition, ECIDA also enters into cooperative agreements with the County of Erie, the cities and towns of Erie County, and other economic development agencies including the State of New York, Export-Import Bank of the United States (Ex-Im), Small Business Administration (SBA) and the Economic Development Administration (EDA).