Onondaga County Industrial Development Agency
OCIDA benefits are generally available to projects that generate 51% or more of their revenue outside of Onondaga County.
OCIDA's mission is to stimulate economic development, growth, and general prosperity for the people of Onondaga County by using available incentives, rights, and powers in an efficient and cooperative manner.
Qualified OCIDA projects are eligible for sales, mortgage, and real property tax exemptions.
OCIDA offers property tax abatement schedules, PILOT Agreement, that begin with a 100% exemption. PILOT agreements contain a scheduled payment plan, of at least 10 years, that is based on current tax rates and a mutually agreed to value.
Mortgage Recording Tax and Sales Tax exemptions for the purchase of machinery, materials, equipment, site work, and other capital investments are available for projects that qualify for OCIDA benefits.
OCIDA may assist project financing by issuing taxable and tax exempt bonds and by providing information on complementary financing such as fixed asset and working capital lending programs.