StateBook International®

The Definitive Site for Site Selection

Otsego Now (County of Otsego IDA)

189 Main St, Suite 500
Oneonta, NY 13820
P: +1 607-267-4010

Tax Abatements: PILOT, Mortgage Recording Tax, Sales Tax

Other
Start Date
End Date
Target Counties 1
Target Industries 5
Administration
The County of Otsego IDA, d/b/a Otsego Now
Range of Benefits
see above
Eligibility Requirements
Businesses looking to build or expand in Otsego County may be eligible for various types of tax abatement through the Otsego IDA: * Payment in Lieu of Taxes (PILOT) program * Mortgage tax abatement * Sale tax abatement For the application for benefits, visit www.otsegonow.com
Processing & Approval
* Staff analyze application for benefits, including cost/benefit analysis * If staff recommends project to board, public hearing is held * Board votes to approve or not to approve * Timeframe typically two to three months

Tax-Exempt Bond Financing

Other
Start Date
End Date
Target Counties 1
Target Industries 3
Administration
The Otsego County Capital Resource Corporation, part of Otsego Now
Range of Benefits
Bond financing with low interest rates
Eligibility Requirements
Tax-exempt bond financing for not-for-profit entities, typically schools, health-care providers and senior-care providers
Processing & Approval
Estimated time frame is typically three to four months from application to bond closing

HUBZones Value
Qualified or Redesignated HUBZones
Census Tracts 2
County No
Indian Lands None
Closed Bases None
Foreign Trade Zone Numbers
Otsego County, NY No Foreign Trade Zones
Incentive Business Need Count
Incentives by State
New York 43
Business management 1
Incentive Category Count
Indirect Business Financing 1
Business management; Capital access or formation 3
Incentive Category Count
Direct Business Financing 2
Other 1
Business management; Capital access or formation; Infrastructure Improvement; Marketing & sales assistance; Product & process improvement 1
Incentive Category Count
Indirect Business Financing 1
Business management; Product & process improvement; Tech & product development; Capital access or formation 1
Incentive Category Count
Direct Business Financing 1
Business management; Workforce prep or development 1
Incentive Category Count
Direct Business Financing; Direct Community Financing 1
Capital access or formation 13
Incentive Category Count
Direct Business Financing 11
Direct Business Financing; Indirect Business Financing 1
Indirect Business Financing 1
Capital access or formation; Facility/site location; Tax/Regulatory burden reduction 1
Incentive Category Count
Tax; Direct Business Financing 1
Capital access or formation; Infrastructure Improvement 1
Incentive Category Count
Direct Business Financing 1
Capital access or formation; Tech & product development 1
Incentive Category Count
Tax 1
Capital access or formation; Workforce prep or development; Facility/site location 1
Incentive Category Count
Direct Business Financing; Tax 1
Facility/site location 4
Incentive Category Count
Direct Business Financing 2
Indirect Business Financing 1
Tax 1
Facility/site location; Capital access or formation 1
Incentive Category Count
Direct Business Financing 1
Infrastructure Improvement; Workforce prep or development 1
Incentive Category Count
Direct Business Financing 1
Marketing & sales assistance 1
Incentive Category Count
Indirect Business Financing 1
Other 2
Incentive Category Count
Direct Business Financing 2
Product & process improvement 2
Incentive Category Count
Direct Business Financing 2
Product & process improvement; Facility/site location 1
Incentive Category Count
Direct Business Financing 1
Product & process improvement; Tech & product development 1
Incentive Category Count
Tax 1
Tax/Regulatory burden reduction 4
Incentive Category Count
Tax 4
Tech & product development 1
Incentive Category Count
Tax 1
Tech & product development; Tax/Regulatory burden reduction 1
Incentive Category Count
Tax 1