The Erie County Industrial Development Agency (ECIDA) is a public benefit corporation created in 1970 by an act of the New York State Legislature to promote and assist private sector industrial / business development and advance job opportunities and economic well-being in Erie County. The State sanctioned the ECIDA to offer tax incentives, or tax discounts and exemptions, to qualified businesses who invest in the community within the borders of Erie County.
The ECIDA does not use taxpayer funds for operating costs; the agency is self-funded, and is not part of the Erie County government body.
The ECIDA aims to help businesses to be competitive and profitable through programs and services including:
- Business Incentives, Tax Exemptions, Bonds
- Facility / Brownfield Development
- Financial Assistance, Loans, Venture Capital
- International Trade Assistance
- Referrals and Resources
- Transportation, Infrastructure Financing
- Tax exemptions, leases and tax abatements
- Coordination with other government agencies
- Assistance with projects from $5,000 to $500 million
The ECIDA also enters into cooperative agreements with the County of Erie, the cities and towns of Erie County, and other economic development agencies including the State of New York, Small Business Administration (SBA) and the Economic Development Administration (EDA).