Incentives for Success
The region is attractive to businesses looking to relocate because of the low cost of doing business here, affordable real estate and competitive salaries. Tax incentives offered by state and local governments and utilities offer a competitive edge, reducing costs for companies looking to relocate to Buffalo Niagara. These incentives include standard tax benefits:
- No state corporate income tax for manufacturing companies
- No inventory/real personal property tax
- No sales tax on production or R&D equipment
The business incentives included here focus on financial assistance, infrastructure development grants, tax credits and exemptions, customized training, and technical support programs. The eligibility requirements differ from program to program, so please contact us for details and to discuss programs that may be suited to your business project. That way your time can be committed to building great products and finding new customers.
Invest Buffalo Niagara assists with incentive program identification and coordination across various local, regional, and statewide economic development organizations. For most agencies, a time frame of 45-60 days from the receipt of a fully completed, successfully submitted application to final approval is the norm (outside of any external regulatory reviews).
Do you already have a manufacturing facility in Buffalo Niagara? Need to grow and expand your production capabilities? If you are a customer of National Grid or NYSEG, there are matching grants for encouraging improvement projects. Download PDF for details.