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To meet the needs of our business community, two Industrial
Development Agencies serve Onondaga County. The Syracuse
Industrial Development Agency (SIDA) works with companies located within the
city limits and the Onondaga County Industrial
Development Agency
(OCIDA) works throughout the county. The agencies are public benefit
corporations of the State of New York pursuant to article 18A of
the General Municipal Law.
While both agencies differ slightly in their operational scope,
they are "authorized to promote, develop, encourage and assist
in the acquiring, constructing, reconstructing, improving, maintaining,
equipping and furnishing industrial, manufacturing, warehousing,
commercial, research and facilities, educational or cultural facilities,
railroad corporations, and horse racing facilities and thereby
advance the job opportunities, health, general prosperity and economic
welfare of the people of the State of New York and improve their
recreation opportunities, prosperity and standard of living."
The Onondaga County Industrial Development Agency (OCIDA) created in 1970, in conjunction with the Onondaga County Office of Economic Development, is committed to assisting established industries and businesses expand their operation or to help new firms locate in Onondaga County. The agency can assist firms with Financing, Tax Management, Training, Infrastructure and other support.
The Syracuse Industrial Development Agency (SIDA) is a corporate
non-profit corporation created in 1979 to enhance the City's
economic development capabilities and is empowered to finance
the acquisition, construction or reconstruction of a manufacturing,
warehousing, research, commercial, industrial, and pollution
control projects within the city limits.
SIDA provides benefits to qualified companies in four primary
methods:
- Taxable and tax-exempt Industrial Revenue Bonds
- PILOT
- Tax exemptions
- Flexible Development Fund loans for major development project
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