In addition to potentially applicable federal or local-entity opportunities, the Buffalo Niagara region offers a variety of grants for companies that will be making significant capital investment and adding or retaining employment. Grant assistance is available for new facility construction, site and infrastructure work, equipment purchases, energy performance improvement, environmental performance improvements, working capital and lease costs.
Economic Development Fund (ESD)
New York offers financial incentives to manufacturers, service providers, warehousers and distributors & research and development companies to assist with site location, new facility construction, existing facility expansion or modernizing existing operations — all of which can be tailored to the size and scope of your project. Incentive may also assist with your working capital, employee training, expanding export opportunities and productivity enhancement.
Power Proceeds Grant Program (NYPA)
Support the growth of businesses that lead to the creation or maintenance of jobs and tax revenues in NYS. Eligible projects include, workforce development; energy-related projects, programs and services; capital investments in buildings, equipment, and associated infrastructure owned by an eligible applicant for fund benefits; transportation projects under state or federally approved plans; the acquisition of land needed for infrastructure; research and development where the results of such research and development will directly benefit NYS. An eligible project must be physically located in the state of NY and within a 30-mile radius of the NYPA Niagara Power Project in Lewiston.
Centers for Advanced Technology (CAT) grants
Non-dilutive matching grant monies available to companies that engage with a college/university partner on a research & development project that facilitates commercialization of a technology and brings it closer to market. There are 15 CATs across New York State, with two in the Buffalo Niagara region: the University at Buffalo (UB) CAT in Biomedical & Bioengineering; and the Center for Advanced Ceramic Technology at Alfred University. Companies located in New York State can access CAT funds from any of the 15 CATs, regardless of geographic proximity.
Funding is available from certain federal governmental agencies via the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. Through a competitive awards-based program, SBIR enables small businesses to explore their technological potential and provides the incentive to profit from its commercialization. Central to the STTR program is expansion of the public/private sector partnership to include the joint venture opportunities for small businesses. The unique feature of the STTR program is the requirement for the small business to formally collaborate with a research institution in Phase I and Phase II. STTR’s most important role is to bridge the gap between performance of basic science and commercialization of resulting innovations.