There is a full range of financial resources available in Jefferson County to provide your company with capital financial assistance. Whether you are considering expansion, modernization of existing facilities, relocation, or leased space, the Jefferson County Job Development Corporation is your "one-stop shop". A number of additional financial and training incentives are available if your business creates employment in the County.

Financing

• Jefferson County's Microenterprise Revolving Loan Fund provides below market rate financing for all capital needs of small businesses (5 or fewer employees). The maximum loan amount is $40,000 or 50% of total project costs, whichever is less.

• Revolving Loan Fund for manufacturing businesses in the amount of $25,000 - $200,000 or 50% of total project costs, whichever is less.

• Industrial Revenue Bonds (Industrial Development Agency) The Jefferson County IDA promotes economic growth through issuing tax exempt or taxable industrial revenue bonds for businesses that wish to locate or expand their operations to Jefferson County. This financing offers competitive interest rates, potential for 100% financing and financing for projects $1,000,000 and larger.

• North Country Alliance This fund provides loans for fixed assets and working capital to businesses (with less than 100 employees) from $25,000. Loans are limited to a maximum of 50% of total project costs.

• Watertown Local Development Corp This organization provides fixed asset financing and will also consider working capital letter of credit guarantees.

Tax Abatement

• The New York State corporate tax surcharge has been entirely eliminated.

• New York State does not tax personal property or the acquisition of manufacturing machinery and equipment.

• Investment tax credits are available to manufacturing as well as research and development firms.

• Decreased real property tax opportunities are available for new and expanding business through "Payments In Lieu Of Tax" (P.I.L.O.T.) programs.

Training Assistance

Jefferson Community College Business and Industry Training Programs include:

• Quality and Competitiveness i.e. ISO 9000; Project Management and Just-In-Time Manufacturing;

• Workforce Skills Conflict Resolution, Workplace Mathematics, Problem Solving;

• Computer Training from introduction to personal computers to finding information on the Internet;

• Cooperative Training Specially designed courses which meet the needs of more than one employer and scheduled for the convenience of all the companies involved;

• Electrical and Mechanical Maintenance;

• Manufacturing Operations and Processes.

The Jefferson County Department of Employment and Training Services:

• Recruitment and screening of candidates for employment;

• Aptitude testing for new, current and promotion-bound employees;

• Development/modifications to job descriptions;

• On-the-job training programs offering up to 50% wage reimbursement for specific employees;

• Vocational assessment of prospective employees.

New York State Department of Labor Services:

• Labor Exchange an electronic list offering employers the widest possible selection of qualified job seekers;

• Labor Market Information economic conditions, business outlook, labor supply, wage information and more;

• Human Resource Consultants;

• Federal Bonding Programs a fidelity bonding program for qualified workers.

Watertown Empire Zone

The Watertown Empire Zone (EDZ) provides a variety of financial and economic incentives that are designed to attract new businesses and enable existing businesses to expand and create more jobs.

Incentives include:

• Utility Rate Reductions See section on Energy/Utility Costs.

• Sales Tax Rebates Available on cost of

• construction materials for manufacturing facilities.

• Real Property Tax Abatements Up to 100% exemptions on Zone investment.

• Investment Tax Credit Qualified businesses are eligible to receive a 10-13% corporate tax credit, or an 8% personal income tax credit on investments made within the Economic Development Zone.

• Wage Tax Credit $1,500.00 for each targeted employee and $750.00 for all other employees hired by the business.

• Zone Capital Credit A 25% tax credit against personal or corporate income taxes is available on Zone investments.