Orange County, N.Y.’s strategic location between the thriving markets in New York City, Pennsylvania, New Jersey and Connecticut, coupled with the powerful financial incentives offered by the IDA, attract, retain and expand businesses – and create jobs.
The IDA’s incentives, which include tax exempt and taxable bonds and PILOTs, or payment-in-lieu-of-taxes, allow new and existing businesses to become more competitive in a challenging marketplace.
PILOT programs help relocating or expanding businesses save sizable costs by providing significant tax relief during the initial years in Orange County, N.Y. In return for reduced taxes, the IDA negotiates payments to be made to the county, school district and local municipality. The companies’ payments increase incrementally each year until 100 percent of the property’s assessed value is reached.
The IDA can also provide sales tax exemptions for construction materials and equipment, and waive mortgage recording taxes.
If you’re a startup or small business, then the Orange County IDA’s The Accelerator and AWOW (Accelerator Without Walls) programs offer services tailored to your needs. These services include below-market occupancy costs, access to experienced professionals and promotional assistance. Learn more about the IDA’s small business incentives here.