The County of Westchester Industrial Development Agency (IDA) can be an important source of financial assistance to both existing businesses and those relocating. A variety of incentives are available to corporations and small companies.
More than 100 organizations and companies have sought and received benefits totaling more than $200 million in the past 25 years. While large corporations have certainly been represented, many of the benefits have gone to firms with fewer than 25 employees.
Depending upon an organization's growth needs, the acquisition, construction, reconstruction, equipping and/or furnishing of certain manufacturing, commercial and R&D can be funded from the proceeds of taxable and tax-exempt securities issued by the IDA. The agency can also provide exemptions from use and sales taxes for certain pre-approved expenditures related to construction, furnishings, business equipment and related capital improvements, in accordance with our Uniform Tax Exemption Policy.
In accordance with the 2005 and 2009 Public Authorities Accountability Act, the Agency has adopted By-laws, and annually adopts a Mission Statement and the following policies: Code of Ethics, Whistle Blower Policy, Investment Policy, Property Disposition Policy. and Procurement Policy.
The IDA files an annual report to the Office of the New York State Comptroller, as well as semi-annual reports to the New York State Authority Budget Office. A complete roster of our Annual and Budget Reports to the New York State Authority Budget Office, our most recent Independent Financial Audits, and our Annual Budget may be found here.