“It’s good business to do business in Monroe County!”
Monroe County Economic Development’s goals are your goals. A return on investment, the creation of jobs and the retention of jobs.
Through private, state, federal and county financial resources and technical assistance, the Economic Development Division supports businesses, developers, units of local government and major county facilities like the airport and landfill in economic development activities. The division provides administrative support to the County of Monroe Industrial Development Agency (COMIDA), the Monroe County Empire Zone and the Monroe County Industrial Development Corporation (MCIDC).
Business Incentive Programs Overview
Monroe County Economic Development connects your business to the most advantageous financing programs and incentives. Please call 585 753-2000 or 1-888-842-1009 to speak directly with an economic development specialist to see how Monroe County Economic Development can assist your business.
Monroe County Industrial Development Corporation (MCIDC) Programs
The Monroe County Industrial Development Corporation (MCIDC) is a not-for-profit agency that has been in existence for over 30 years. MCIDC’s primary mission is to encourage job creation through economic development in Monroe County. MCIDC is staffed by members of the Monroe County Department of Economic Development.
MCIDC administers the following programs:
- SBA 504 Program—The SBA 504 Program provides long-term financing for the purchase of land, buildings, and equipment at a fixed-rate of interest.
- GreatRate Interest Subsidy—The GreatRate Interest Subsidy Program provides businesses with an interest subsidy due on a fixed rate loan or a capital lease used to purchase machinery or equipment, if the company meets its job creation requirement. The subsidy will be 3% or if the equipment is purchased locally, the subsidy will be 4%. (Rate cannot be subsidized below 1%.)
- GreatRebate Program—The GreatRebate Program provides businesses with a rebate on equipment purchases of at least $50.000, if the company meets its job creation requirement. The rebate will be $4,000 or if the equipment is purchased locally, the rebate will be $5,000.
- Loan Fund—The revolving loan fund is used to assist expanding businesses with “gap” financing for fixed assets and working capital.
The staff of MCIDC is eager to meet with you to determine if the project you are considering qualifies for any of these programs.
County of Monroe Industrial Development Agency (COMIDA)
The County of Monroe Industrial Development Agency (COMIDA) offers assistance for industrial and non-industrial projects through the issuance of tax-exempt industrial revenue bonds, taxable industrial revenue bonds, tax-exempt civic facility bonds, and sale/leaseback transactions.
- COMIDA administers the JobsPlus tax abatement as well as the Enhanced JobsPlus tax abatement and the EquiPlus Program.
Monroe County Empire Zone
The Monroe County Empire Zone offers special incentives to certified businesses located in the Monroe County Empire Zone.
Monroe County Foreign Trade Zone
The Monroe County Foreign Trade Zone is one of the most flexible methods of handling domestic and imported merchandise.
Venture Capital
The County of Monroe Industrial Development Agency (COMIDA) has partnered with the Trillium Group to invest in several venture capital funds. The funds can be used for commercialization of new inventions and discoveries, and for growth of existing businesses through equity and debt investments.
For more information:
Contact us to see why it’s good business to do business in Monroe County!
